PPI Reclaiming successes and failures

tifosi

LynK wrote: »

Thanks, just rang Santander they told me I have to send a SAR to each department, eg loans, credit cards, mortgage etc. So it could prove quite a costly business as it is all in joint names so it's £20 each time. Is this right, surely its the one company and they should have all my details collectively.

No, its not right

They are taking the michael

They are a single entity under the Santander banner and you are entitled to ALL info held by Santander for £10 per person

As suggested, if they wont play ball call the ICO

madastaz

Thank You, thank you......

I started my PPI claim in May this year, the letter was acknowledged within 4 days and my claim was being looked at, about a week before the 6 week deadline I was sent another letter from Lloyds stating that they were sorry for the delay but had been granted an extension to 16 weeks to sort the claim out and that I would know definitely either way within that time...
I waited and this morning I have received a letter stating that they will be refunding all my PPI payments with interest. I have to send back a form stating that I will accept this decision in full and final settlement. I have no idea how much the refund will be, but am really happy I made the claim.
I did find amusing a paragraph on the letter staing that they will cancel the PPI on the card and that I will no longer be covered - I WAS NEVER COVERED IN THE FIRST PLACE HENCE THE CLAIM lol!!!!!!!!! Oh and I cancelled the PPI a couple of years ago when i found out I was not covered under medical grounds..............
All this for the sake of writing one letter, I am really pleased..
For anyone thinking they might have a claim I'd try it, after all you can only gain, you have already done the losing by having PPI in the first place
many thanks again to Martin

di3004

patricia50 wrote: »

Morning all,
Post came early today (first time in ages) There was a letter upholding one of my ppi claims on a Lloyds credit card. I have one more claimed for at the same time. The letter said they were upholding my claim OMG.!!!!!!! What I would like some help with is does this sound right, they say they will refund all ppi payments paid inclusive of interest plus 8% for any period where the account was in credit. They also say that as they hold no info on this past 6 years they make an assumption on the way I used my card. Hopefully other letter will come this week also. Just wanted to check this seems right before I send back my acceptance - Happy days!!!

Very Happy Days :beer:
Congratulations!:T:j

di3004

ThunderCat wrote: »

My PPI reclaiming journey started back in March. This morning I recieved a letter from Lloyds TSB confirming that they are are upholding my complaint in regards to PPI on my credit card (well done for doing the right thing Lloyds). I will be recieving the grand sum of £1,424.34 :j:D Which is a lot more than I was expecting (awaiting detailed breakdown)! I nearly fell out of my chair!

Di & amersall, I'd especially like to thank you for all your advice and support. You both deserve medals! There are also many others who deserve recognition such as cappo, The Marksman, Niggly (the human calculator ) and various others. Above all, thank you Martin Lewis for highlighting this issue :beer:
Now awaiting the final decision on my Loan Protection Insurance which was also with Lloyds TSB.

I hope that the floodgates for upheld claims are now well and truely open. Especially looking forward to seeing more Lloyds TSB successes.

Well done!:T:j & Congratulations!:beer:

It's our pleasure!:A

Mrs_Impatient

tifosi wrote: »

Hi,

do you have the figure for the amount you paid back in June 2003?

It is likely they gave you a rebate on the PPI when you settled early

By my calculations, the £1269 would have had £736 in interest added if you had seen the loan through its full 60 month term

So, if we take £1269 + £736 = £2005


Even allowing for any rebate given, £302 sounds low (as you would be entitled to 8% compensatory interest on top as well)

Can you track down the amount you paid to settle the loan?

Hi tifosi

I did some digging around and rang the loan company and have found out that I paid £8,910.17 back in full on 15/7/2003, but they did tell me that £970.73 was written off as part of the settlement figure they gave me (which I had a feeling thats was why my rebate figure was low), but still I don't think there is any compensatory interest on that £302 figure for the last 8 years, what do you think?

Thanks.

di3004

loopyloz84 wrote: »

Hi Guys

Apologies in advance for the long post - this is a copy of the email I've sent through to MBNA asking them to reconsider their decision to not uphold my complaint. Any thoughts?

To Whom It May Concern

Your Ref: *****

Account: ****************

Thank you for your letter dated 5th August 2011, which I received after contacting the customer advocate team and discovering that correspondance regarding my complaint was being sent to an old address you had on your system.

Obviously I am disappointed that my complaint has not been upheld and I appreciate that you have advised I can take my complaint further with the Financial Ombudsman Service.




However, before doing this, I would like to give you the opportunity to reconsider your decision on the basis of the points below:

1. In your letter you have referred to the fact that I "ticked the box" to agree to take out Payment Protection Insurance and as a result you are satisfied that I actively chose to purchase PPI and understood that it was optional when I did so. As part of my initial complaint, I didn't question that I had agreed to take the policy out, however, the FSA document PS10/12 Appendix 1 Final Handbook Text paragraph 3.3.5 states that "the firm should not reject a complainant's account of events solely on the basis that the complaintant signed documentation relevant to the purchase of the policy" - Your response seems to contradict this guidance as you are basing your decision on the fact that I "ticked the box"
2. In your letter you also state that I was eligible for the cover and that I have not provided any evidence that I had any other adequate means of protecting my repayments in the event of prolonged sickness or unemployment and on that basis you believe I would still have purchased the policy - At no point in time have I been asked to provide any evidence in relation to employment benefits I was in receipt of at the time, and therefore how can you assume that I would have taken the policy out.

In my inital complaint, I also referred to the fact that at no point in time was it commmunicated that PPI cover could be purchased from a third party and that I would've been able to protect my repayments with anyone other than yourselves - this point has not been addressed in your response.




In addition to my initial complain, I would also like to take this opportunity to raise an additional concern (after reviewing my signed agreement and the terms and conditions of the PPI policy which I received with your letter):

1. Your terms and conditions in relation to Scheme Number 22002J228V states that "The cost of this insurance is 79p per £100 of your monthly statement balance (including your insurance premium) and includes Insurance Premium Tax at the current rate" - No where in the terms and conditions of the policy does it state that this insurance cost is also subject to compounded interest at the card's apr rate if the balance is not cleared in full each month, therefore the true cost of the policy was not communicated. The FSA document PS10/12 Appendix 1 Final Handbook Text paragraph 3.6.2(8) states "In the absence of evidence to the contrary, the firm should presume that the complaintant would not have bought the payment protection contract he bought if the sale was substantially flawed, for example where the firm - did not disclose to the complaintant, in good time before the sale was concluded, and in a way which was fair, clear and not misleading, the total (not just monthly) cost of the policy separately from any other prices (or the basis for calculating it so that the complaintant could verify it)" - In my opinion, the true cost of the PPI cover was not communicated in the fair, clear and not misleading way.

I appreciate that you are extremely busy dealing with complaints at this time, however, as 11 weeks had passed before you issued a response to my complaint, which went beyond the 8 week timeframe set by the FOS, I would politely request a response within 14 days from the date of this email (23rd August, 2011), at which point I will forward my complaint to the FOS if I receive no communication from you.

Kind regards

Excellent letter!:T:T

Hope they will reconsider this in your favour now, they will be very silly otherwise, but the very best of luck with this, please keep us posted. X;)

Sophieh_2

HI there, just wanted to share some good news for anyone trying to claim from Loans.co.uk - I have received this morning a letter stating they are going to UPHOLD my complaint! :j I almost collapsed when I read it, was expecting big fat NO! Especially as they are brokers - have read on here people struggling to claim from brokers successfully so we are pretty shocked! Yet to find out how much for, though - can anyone on here give me an indication? PPI premium was £8100.00 & PPI cover was over 5 years & subsequently ended in 2009. They HAVE said in letter they will: 'refund equivalent to a full refund of the initial PPI premium plus associated interest charged on that premium either to present day or to the date that the loan for the premium was settled' Now, as the loan in still going, does that mean we will get interest to date? If so, grateful if any of you human calculators out there (you know who you are!) can give me a rough idea what to expect as a figure? Many thanks x soph x :T

di3004

tifosi wrote: »

No, its not right

They are taking the michael

They are a single entity under the Santander banner and you are entitled to ALL info held by Santander for £10 per person

As suggested, if they wont play ball call the ICO

I definately second that tofisi.

di3004

Sophieh wrote: »

HI there, just wanted to share some good news for anyone trying to claim from Loans.co.uk - I have received this morning a letter stating they are going to UPHOLD my complaint! :j I almost collapsed when I read it, was expecting big fat NO! Especially as they are brokers - have read on here people struggling to claim from brokers successfully so we are pretty shocked! Yet to find out how much for, though - can anyone on here give me an indication? PPI premium was £8100.00 & PPI cover was over 5 years & subsequently ended in 2009. They HAVE said in letter they will: 'refund equivalent to a full refund of the initial PPI premium plus associated interest charged on that premium either to present day or to the date that the loan for the premium was settled' Now, as the loan in still going, does that mean we will get interest to date? If so, grateful if any of you human calculators out there (you know who you are!) can give me a rough idea what to expect as a figure? Many thanks x soph x :T

Fantastic news Sophie!:T:j Well done and Congratulations!:beer:

I'm sure the clever folks on here will check the figures for you x

di3004

madastaz wrote: »

Thank You, thank you......

I started my PPI claim in May this year, the letter was acknowledged within 4 days and my claim was being looked at, about a week before the 6 week deadline I was sent another letter from Lloyds stating that they were sorry for the delay but had been granted an extension to 16 weeks to sort the claim out and that I would know definitely either way within that time...
I waited and this morning I have received a letter stating that they will be refunding all my PPI payments with interest. I have to send back a form stating that I will accept this decision in full and final settlement. I have no idea how much the refund will be, but am really happy I made the claim.
I did find amusing a paragraph on the letter staing that they will cancel the PPI on the card and that I will no longer be covered - I WAS NEVER COVERED IN THE FIRST PLACE HENCE THE CLAIM lol!!!!!!!!! Oh and I cancelled the PPI a couple of years ago when i found out I was not covered under medical grounds..............
All this for the sake of writing one letter, I am really pleased..
For anyone thinking they might have a claim I'd try it, after all you can only gain, you have already done the losing by having PPI in the first place
many thanks again to Martin

Wonderful!:T:j Well done and Congratulations!:beer: