PPI Reclaiming successes and failures

Bluesifi

Hi, I am currently making a claim to LloydsTSB regarding miss-selling PPI. I still have 2 years to run on the loan, and need advice. If LloydsTSB do accept the claim, I understand that they will have to restructure the loan to take into account the cancellation of PPI.

My questions is, when the loan is restructured, and in the current climate regarding loans, can I be declined a restructure and then have to pay Lloyds the outstanding balance.

von-1980

Hi im just about to start the process with HSBC myself (Bit scared though!) How long did it take you? Did it take many letters? I am claiming on the basis the lady in the bank said It would be in my favour to get PPI as my application may be rejected. I have since tried to cancel but it means taking another loan out to cancel.

Appreciate any help you could give me!

Whoops this message was for Borders? But i would appreciate any help and would like to hear from any other HSBC customers. Also if they restructure the loan can they refuse you the new loan with the way things are about borrowing?

Many thanks x

bunty1983

were in middle of reclaiming from hsbc our ppi on small loan of 1500.had 2 letters saying theyre still investigating but after seeing 'borders' post about restructuring loan im worried now,as my credit rating is poor now and im worried if they have to set up another loan without ppi it would be turned down. also do you have to go to branch can it not just be done over the phone?hopefuly i will get news that they will refund but this does worry me

marshallka

bunty1983 wrote: »

were in middle of reclaiming from hsbc our ppi on small loan of 1500.had 2 letters saying theyre still investigating but after seeing 'borders' post about restructuring loan im worried now,as my credit rating is poor now and im worried if they have to set up another loan without ppi it would be turned down. also do you have to go to branch can it not just be done over the phone?hopefuly i will get news that they will refund but this does worry me

They should not be able to do this as this is against "treating customers fairly" and they could have the FSA on their backs. A new loan should be at the same terms and APR.

Hope this puts your mind at rest..;)

phill570

In 2005 i took out an agreement through HFC bank who financed my PC from PC WORLD. The agreement was up Jan 09 so i phoned up to confirm with HFC that the account would now be closed. I dug out the paperwork and decided to go through it with HFC to confirm the final payment date.

While doing this i noticed a small box with a YES in it by the side of OPTIONAL PAYMENT PROTECTION. I had never once agrred to take out thi policy. Th total amounts to over £700 over a 4 year period.

Do i have a chance of reclaiming this? If so who do i complain to? HFC even though they didn't sell me the policy, or PC WORLD?

Help much appreciated!!!!

Phill

marshallka

phill570 wrote: »

In 2005 i took out an agreement through HFC bank who financed my PC from PC WORLD. The agreement was up Jan 09 so i phoned up to confirm with HFC that the account would now be closed. I dug out the paperwork and decided to go through it with HFC to confirm the final payment date.

While doing this i noticed a small box with a YES in it by the side of OPTIONAL PAYMENT PROTECTION. I had never once agrred to take out thi policy. Th total amounts to over £700 over a 4 year period.

Do i have a chance of reclaiming this? If so who do i complain to? HFC even though they didn't sell me the policy, or PC WORLD?

Help much appreciated!!!!

Phill

Hiya Phil. This is better posted on the PPI reclaiming discussion but yes you would be able to make a complaint to PC world.

Just take a look at the link here and see what you can add and delete from the template letter. Its always best to do your own from this. There are lots of reason on there for the misselling so pick out the ones that are applicable to yours.

You then write to the firm that actually made the sale of the PPI to you if this is different from the lender and don't forget to send this recorded delivery so you always a proof and dates etc.

After that you have to give them 8 weeks for a full and final response. In this time it is usual to get a response of "sorry we sold this to you fairly" but you then respond to this and reiterate your complaint again. The next time they write they either give you a final response which you would need in order to take this complaint to the FOS or offer to settle.

http://www.moneysavingexpert.com/rec...urance#reclaim


Good luck

EssexHebridean

Back in November I sent off the "first letter" from the templates on the site to reclaim PPI on a Northern Rock loan. They sent me a form to fill in asking for lots of information that they already had, I ignored it, and today I have received a letter from them agreeing that yes, I was missold, and confirming that they will be paying back my premium plus interest! I've complicated matters a little by having cleared the loan in its entirety at the beginning of December (17 months early!) but will be writing to them to ask them to check and recalculate their figures as their letter is clearly a "standard" based on the loan still being outstanding. Many thanks to both Martin for the original article, and to the ladies on the discussion thread for their help and advice. :beer:

march08

Lodged a letter to Sainsburys bank/Royal Bank of Scotland in November. I had to write another letter in December because they hadn't acknowledged my first letter.

Yesterday I received a reply to say that as I was a "valued customer" they would put me back in the position that I would have been had I not taken out PPI. They will be in contact soon to let me know what money I will get and they have said that I should have the money within one month.

DENMAN_3

di3004 wrote: »

Hi there

Before we go any further please can you confirm who the loan was taken out with?
Cheers.;)

Di

Loan was with the then BANK OF SCOTLAND who is obviously now HBOS.

phill570

Anyone had any luck with Natwest Credit cards.....???

Currently in the process of complaining to them about mis-sold PPI i wasn't even aware i had on a credit card. Recently told it was optional and i could have stopped it anytime.....

Letters in the post and awaiting reply!!!

This site is brilliant!!!