PPI Reclaiming successes and failures

deanofrancisco

hi
very much in the same boat as you, well over 18 months with my claim , and gone through the same rejection And fos process , i also recieved a letter from the fos on july 22nd finally upholding claim , still heard nothing from bank , although they say it can take 10 weeks from start to finish, which i find amazing , may e-mail the ceo myself
dean
.

alastair1982 wrote: »

Good afternoon all,

Does anyone happen to have the email address for the CEO of HSBC? I originally complained about PPI two years ago, (that's right people, 2 years ago!) had the complaint rejected, sent it to the FOS, who have had the judicial review to wait on. Just over a month ago I received a letter from the FOS to say the complaint has been upheld and that HSBC will be in touch with an offer soon. Still nothing received in the post, and patience is starting to get very thin now. In the grand scheme of things, a few weeks out of two years is not much, but two years to have a complain resolved is pretty shambolic in my book. I'd love to know the banks reaction if i didn't pay my credit card bill for two years!

So if anyone can get me the CEO's email address it'd be much appreciated.

Many thanks people!

legsand

Just a lurker on here but thought it would be nice
A) to thankyou all for your posts I have read and re-read them and applied for my own PPI refund with Barclaycard and the card was first tacken out back in 2000 with the PPI addes then.
Had a letter on Friday to inform me that they had upheld me complaint and have a refund of £8913.00 WOW.

Sent application in on the 3rd May 2010.

So thankyou to all the posters and all the advice I have picked up from you.

Good Luck to you all

xx

alastair1982

Dr Squeeze,

Thanks for the info. Deanofrancisco, I feel your annoyance. Very tardy in getting in touch when they have to pay, but when they want something back, they're terribly quick.....Cynical? Never! Haha

Kuffs1978

Hi gang,

Hope you're all having a relaxing Bank Holiday. I'm on my soapbox today as I'm having a strangely similar problem with the company who are allegedly looking after the insurance and maintenance of the lovely block I own a flat within, near Oxford.
Yet again, they're also a company who are insisting on payments which has proven to be of no use since it's not being spent on what it's supposed to! Anyway, I thought I'd have a look at the forum and see if anyone has any good news. Congrats to those who have. You deserve it! Having also seen that there are folks on the forum who have a better understanding of the breakdown of repayments and ppi, I wondered if anyone would like to have a bash at our (or my sister's) situation.
Here's the breakdown:

Loan amount (July 2007) £10,000
PPI £1537 over 60 months
Interest rate 10.6%
Monthly repayments started at £252.84 for the first 12 months, £261.15 since then.
Current outstanding £3,686

GE claim that the repayments are due to continue until Oct 2012, but I reckon my sis has paid at almost £12,000 so far, but maths has never been my strongpoint so I'd be grateful for the opinion of somebody who's a bit more on the ball than I am.

Many thanks.

smitchy73

di3004 wrote: »

Hi Gill

Well done on your success.:beer:

To me that is like paying for the ppi all over again, tell them you will be contacting the FSA (the regulator) as this is not right, its like being paid in one hand and taken out of the other by them including the amount of the ppi in with the loan balance settlement, in my opinion no its wrong.

What they should be doing is reducing the monthly repayments, by removing the ppi, which should be refunded directly to you.

The FSA will not allow those rules.

Hi Gill,
Here is the section from the FSA's final handbook text

3.7.4 E Additionally, where a single premium was added to a loan:
(1) for live [FONT=TimesNewRoman,Italic]policies[/FONT]:
(a) subject to [FONT=TimesNewRoman,Italic]DISP [/FONT]App 3.7.5E, where there remains an outstanding
loan balance, the [FONT=TimesNewRoman,Italic]firm s[/FONT]hould, where possible, arrange for the loan
to be restructured (without charge to the complainant but using any
applicable cancellation value) with the effect of:
(i) removing amounts relating to the [FONT=TimesNewRoman,Italic]payment protection
contract [/FONT](including any interest and charges); and
(ii) ensuring the number and amounts of any future repayments
(including any interest and charges) are the same as would
have applied if the complainant had taken the loan without
the [FONT=TimesNewRoman,Italic]payment protection contract[/FONT]; or
(b) where the [FONT=TimesNewRoman,Italic]firm [/FONT]is not able to arrange for the loan to be restructured
(e.g. because the loan is provided by a separate [FONT=TimesNewRoman,Italic]firm[/FONT]), it should pay
the complainant an amount equal to the difference between the
actual loan balance and what the loan balance would have been if
the [FONT=TimesNewRoman,Italic]payment protection contract [/FONT](including any interest and

[FONT=TimesNewRoman,Bold][FONT=TimesNewRoman,Bold]

FSA 2010/36

[/FONT][/FONT]

Page 11 of 14

charges) had not been added, deducting the current cancellation
value. The [FONT=TimesNewRoman,Italic]firm [/FONT]should offer to pay any charges incurred if the
complainant uses this amount to reduce his loan balance; and
(2) for cancelled [FONT=TimesNewRoman,Italic]policies[/FONT], the [FONT=TimesNewRoman,Italic]firm s[/FONT]hould pay the complainant the difference
between the actual loan balance at the point of cancellation and what the
loan balance would have been if no premium had been added (plus simple

interest) minus any applicable cancellation value.

It clearly states that the loan if still live should be restructured, which amount to the ppi amount being taken off, they should put you back in the position you would've been in if the ppi hadn't been taken/put on.

As Di says I'd go back to them and copy in the CEO, as this is flatly against FSA rules and give them 7 days to respond and if they don't go to the FSA, not FOS.:D

smitchy73

maryspecial wrote: »

Whoah folks we've just come back after a few days away and im so excited to read how many success stories have been posted AND im even more excited to say we are one of them!!:j:j:j Got offer from Halifax for our credit card!!!!! Really thought we would have to fight for this one, even had all smitchy's quotes ready to fire at them when they turned us down!! :rotfl::rotfl:
Can't believe it and my oh whose card it was is delighted. He was so surprised and now has no complaints at the hours i spend on this forum!! No figures yet , have to return the acceptance form and wait. Should be big though, average £20 over 8 yrs so cant't wait to see what they come up with. Wish i had have SAR'd them so i had all premiums paid info to check their offer when it comes!!
What a great end to a great August, we got 465 from santander to!!
Again a huge thanks to Di,Amersall,Marksman and all the others on here for keeping us all right , I'll definitely come to the big upheld party , i owe you all a drink!! :beer::beer::beer:

Well done mary, glad to have helped.:j:j:D

smitchy73

alastair1982 wrote: »

Good afternoon all,

Does anyone happen to have the email address for the CEO of HSBC? I originally complained about PPI two years ago, (that's right people, 2 years ago!) had the complaint rejected, sent it to the FOS, who have had the judicial review to wait on. Just over a month ago I received a letter from the FOS to say the complaint has been upheld and that HSBC will be in touch with an offer soon. Still nothing received in the post, and patience is starting to get very thin now. In the grand scheme of things, a few weeks out of two years is not much, but two years to have a complain resolved is pretty shambolic in my book. I'd love to know the banks reaction if i didn't pay my credit card bill for two years!

So if anyone can get me the CEO's email address it'd be much appreciated.

Many thanks people!

Wouldn't it be better to wait a few days after the 31st August, I know it's only a few days to wait and you've waited so long already, but bogging down the staff isn't really going to do much to help your cause, however, say if you don't receive anything by say Friday mail, get on the phone and find out whats happening then, there should be an influx of mail in the next couple of days.

di3004

legsand wrote: »

Just a lurker on here but thought it would be nice
A) to thankyou all for your posts I have read and re-read them and applied for my own PPI refund with Barclaycard and the card was first tacken out back in 2000 with the PPI addes then.
Had a letter on Friday to inform me that they had upheld me complaint and have a refund of £8913.00 WOW.

Sent application in on the 3rd May 2010.

So thankyou to all the posters and all the advice I have picked up from you.

Good Luck to you all

xx

Well done and Congratulations!:beer:x

danclare

in may 2011 i received a letter from the FSCS stating that they had found welcome finance to be in default and did i want to apply for compensation regarding a personal loan i had had with them several years ago...of course i said yes and also stated on teh form that i had purchased a few products from welcome, all with PPI. withing one week, £894.15 went directly into my bank account, I thought that was the end of it and to be honest was quite happy with the money. then 2 weeks ago i received a compensation request form from welcome finance direct which i filled in as best i could and sent back. my reply came approx 10 days later stating that i had a total of 3 claims, 2 being protected (must be dealt with by FSCS) and one unprotected which they were under no duty to repay, but using thewir discretion have offered me £729.67 for the unprotected claim and have referred the further 2 protected claims back to the FSCS. On checking the documents, the first claim is not inclusive of the claims welcome has confirmed (4 different policy numbers in total) so now I will have received compensation for 2 of teh claims and a further 2 to come. to say I am happy is an understatement as I am the type of person to not bother to apply as i usually come away empty handed or feeling overwhelmed (as did with bank charges) but because they (welcome) wrote to me and gave me the form, policy numbers and in fact all the information i needed for my claims(paper work from the origional loans had long been shredded when they were paid off), i was successful. so a huge thankyou to welcome finance and the FSCS

Colin2324

Another M&S Success

Claimed for two loans back in March 2011 (one loan used to pay off the first loan). Now had a letter confirming that both claims are upheld and they will be making an offer within 5 weeks.

I am expecting around £2,500 - £2,800 as a rough calculation. The 2nd loan is still running and still has PPI interest attached to it, despite the fact that we cancelled the PPI in January 2009 . I cant work out why they are still charging for a PPI I cancelled. If anyone knows perhaps they could help. (The PPI statement suggests that the PPI starts very high and reduces on a monthly basis)

Anyway, the loan has about 1 year to run (about £1500 to pay back) Can they or will they pay off the balance of the loan or will they/do they have to refund me directly in full.

Must say I am delighted to be near the end of the tunnel with this and its all thanks to this website and a few simple steps that I am getting anything back at all.

My advice to anyone who still hasnt claimed but has been thinking about it and reads the site ?.......Do it...Its lengthy but very VERY easy....Just do it !!!!!!