PPI Reclaiming successes and failures

Natalie6999

Sheri_P wrote: »

• What were you reclaiming: PPI mis-sold on a loan
• Who was the provider: Marks & Spencers
• How much did you get back: Just over £4000 including interest
• Did you get it back after a letter or did you go to the Financial Ombudsman: Letter
• And then write your brief reclaim tale Encouraged by this site, I wrote to M&S using the standard letter template, they wrote back acknowledging my letter & saying that they were investigating it. I've since heard from them saying that I was mis-sold it and I will be sent a cheque.

Thanks so very much to Martin for highlighting this issue, so appreciated!

How long did it take for you to get a decision? I have now been waiting five weeks since my first letter

Janey_B_2

I wrote to HSBC 8 weeks ago after seeing Martin on LK Today talking about reclaiming PPI. I sent the template letter and have today been offered all the PPI I paid them back plus 8% interest - £430 altogether - but I did only have the loan for 9 months!

I took a loan out 6 years ago and felt mis-sold at the time but thought once I had signed the forms it was too late to do anything. The reasons I gave were that I was told as a new graduate I was unlikely to get the loan without it (I had a graduate account with them and it was a graduate loan). I was also told that the policy would pay out if my fixed-term work contract was not renewed which I now realise would not have been the case. A very nice Christmas present so thank you Martin!

candg

• What were you reclaiming: Loan PPI
  
• Who was the provider: Bank of Scotland
• How much did you get back: £1800
• Did you get it back after a letter or did you go to the Financial Ombudsman: After 1 letter

It was a nice xmas present to get back £1800 on £6000 loan but Bank of Scotland have now issued me a new loan (to pay off remaining balance) with a very high interest rate 9.9% (£2900 left on loan) so the monthly repayments are now more than before I reclaimed the PPI.

Can they make the monthly repayments higher on the remaining balance?

Happy Christmas

maxdp

candg wrote: »

• What were you reclaiming: Loan PPI
• Who was the provider: Bank of Scotland
• How much did you get back: £1800
• Did you get it back after a letter or did you go to the Financial Ombudsman: After 1 letter

It was a nice xmas present to get back £1800 on £6000 loan but Bank of Scotland have now issued me a new loan (to pay off remaining balance) with a very high interest rate 9.9% (£2900 left on loan) so the monthly repayments are now more than before I reclaimed the PPI.

Can they make the monthly repayments higher on the remaining balance?

Happy Christmas

Hi There

Well done for getting this back. As far as I am aware they should refinance the loan at the same rate as it was taken out or less going along with their "Treating Customers Fairly" Policy. I would question this with them. But well done anyway and Merry Christmas.:D

chatnoir

I have succesfully reclaimed from Northern rock, after just writing one letter and filling out a form! And it has only taken a couple of months to sort out!
I will hopefully be debt free by this time next year!!! Role on 2009!

Ps. Merry christmas and happy new year to all money savers xox

sprityang

What were you reclaiming: PPI on personal loan
Who was the provider: HSBC
How much did you get back: £8,863.71 offered
Did you get it back after a letter or did you go to the Financial Ombudsman: 1 letter took 8 weeks to the day


I took out a consolidated loan for £25,000 - like many people I was told the PPI cover was compulsory in fact they had it ready for me to sign along with my loan agreement before I got to the Bank. I would never have taken the insurance had I been told it was optional or I could at least get it from another provider at less than half the Bank were quoting.

I've been reading so many tales of this wholly inadequate insurance for it seems the majority of people who take it that I decided to complain to HSBC. Thank you Martin for this site and thank you to everyone who have put their stories on here too, although I was sure I was missold it is always encouraging to read other peoples successes.

Today after getting back from Sainsbury's armed with Cranberry Sauce - forgot it yesterday, what was waiting but a letter upholding my complaint, offering me a refund of the premiums I have already paid plus the 8% interest. I have been advised that my branch will contact me to restructure my loan (still have just over 12 months to go) without PPI cover but at the same interest rate and term. I can nominate which account I want my refund to go to - so after a year of struggling it was a very nice letter to receive Xmas Eve.

A massive thank you to Martin :A a real people's champion - for those of you reading this who haven't put your complaint in JUST DO IT. The Banks' have missold this insurance to thousands upon thousands of people and more than likely you're one of them.

A very Merry Christmas and Happy, Healthy New Year to you all.:T :T

di3004

Just to say a Big Well Done to all the Winners for 2008 :T :T , and to the ones still waiting - keep at them, and hopefully you will get lucky in 2009.:beer:

Anyone who have been unsuccessful, don't forget you have alternative routes if your finance company were not covered/regulated, and if you feel you have a strong case then go for it give it a go !:D

Merry Xmas to you all, have a good one !

Di
xxxx

wilksy007

wilksy007 wrote: »

• What were you reclaiming: Loan PPI
  
• Who was the provider: Halifax
  
• How much did you get back: To be confirmed, but in the region of £1500
  
• Did you get it back after a letter or did you go to the Financial Ombudsman: 1st Letter
  
• And then write your brief reclaim tale...
  

I took out a 3 year loan of £8000 with Halifax back in 2002. I took the loan out face to face in my local branch and was in and out in about 10mins. It was only recently when reviewing the paperwork that i realised that I had paid for PPI.

I used the template letter and sent it recorded delivery on 18/11/08. Halifax were very good at dealing with my complaint and sent me 3 seperate letters to confirm it was still being investigated. I had another letter today not admitting liability, but stating that they will pay me an amount that will put me back in the situation I would of been in if I hadn't taken the insurance. They are going to contact me shortly with the exact amount, and will pay this into my Halifax account within one month.

Thanks for the advice, the money will be put to very good use in my fund for a house deposit :j

I can't believe it had a letter today and with interest it worked out £2,078.34, just checked my account and its all there. What a christmas present!!!!

Shellbell

What were you reclaiming: PPI mis-sold on a loan
Who was the provider: Abbey National
How much did you get back: £2135.01 including interest
Did you get it back after a letter or did you go to the Financial Ombudsman: 1 Letter and filling out their complaints form
And then write your brief reclaim tale: I was mis-sold PPI with a loan taken out 2001, found out about the misselling of PPI's on this site and decided to complain, I sent one letter and filled out the complaints form and I waited about 8 weeks for the final decision.

I'm over the moon and would like to thank this site and the people who offer their advice to all of us trying to get our money back. I was shaking when I read the letter which I received this morning and I still can't wipe the grin from my face, in todays financial climate this money will certainly help.

Still have 1 claim with FOS regarding PPI with Co-op.

:T

showergirl

Shellbell wrote: »

What were you reclaiming: PPI mis-sold on a loan
Who was the provider: Abbey National
How much did you get back: £2135.01 including interest
Did you get it back after a letter or did you go to the Financial Ombudsman: 1 Letter and filling out their complaints form
And then write your brief reclaim tale: I was mis-sold PPI with a loan taken out 2001, found out about the misselling of PPI's on this site and decided to complain, I sent one letter and filled out the complaints form and I waited about 8 weeks for the final decision.

I'm over the moon and would like to thank this site and the people who offer their advice to all of us trying to get our money back. I was shaking when I read the letter which I received this morning and I still can't wipe the grin from my face, in todays financial climate this money will certainly help.

Still have 1 claim with FOS regarding PPI with Co-op.

:T

Well done :beer: