PPI Reclaiming successes and failures

Topkapi

littleowlett80 wrote: »

Just had a letter back from MBNA (Just over two weeks after I sent them my MSE form saying they will be crediting my account with more than £4,800. :j
Half of the money was repayment of the money I have paid over the years and the other half was interest!
It is such a huge relief off my debt ridden shoulders! THANK YOU MSE!! :money: I used the form on this site to do it all and even though I am horrendous when it comes to understanding money and figures and maths :eek: even I managed to get a result by using your form etc! :T
I would strongly advise MBNA card holders that took out a PPI to reclaim it! it is definitely worth the half an hour I spent filling out the form and getting the correct bits of paper together!

Can I ask if this was PPI on a Credit Card or on a Loan and what reasons did you give for challenging the PPI. My husband has had a credit card with MBNA for many years and cannot remember asking for PPI but cannot disprove it either. He had a good job with good salary, sickness and redundancy provisions. His original card was with another company who MBNA took over and wonder if it was possible that they just added PPI on when they took over. Any advice would be greatly appreciated.

Dizzywithmoney

Hi gang

We received a letter yesterday addressed to both me and my husband from Halifax stating that we had no PPI on the loan that we were claiming for. I was very confused as to which loan it was for - we have two old car loans going through one with Halifax and one with Bank of Scotland and I didnt know if these were the same company or not. Anyway when I checked all the reference numbers on the letters from Halifax it was the one with Halifax (this might sound a bit complicated). Now this loan was for a car loan through Forthright Finance and we only decided to claim on this loan as we had found the booklet on the PPI with the date it was taken out on and the policy number, which I sent in the claim form to Forthright Finance, which turned out to be Halifax. They wrote previously direct to my husband quoting this policy number as the account number and also Forthright Finance. He had several letters stating that they were sorry for the time it was taking, etc, etc and he would have a definite answer by the 22/9/11. Anyway this new letter dated 2/9/11 was addressed to us both! And had the same reference number on but a different account number. I rang them today and explained all this to a guy on the phone asking if this was for the same claim, he agreed that the reference number on all these letters was for the loan from Forthright Finance. I then went on to ask him why even though all these letters had the same reference number on them they had different account numbers on. He told me that the latest letter was the correct account number on, so I said well then the other letters had the account number on which was actually the PPI policy number that you are now telling us that we having got!!! He went off the phone for a bit and then came back and said my husband would have to speak to the person who had researched the account as it was in his name they couldnt speak to me (although this last letter was in joint name). Now my husband works long hours and is still at work when they leave but he does start a 4 day week on Friday so this guy I spoke to is arranging to get our "reasearcher" to ring my husband on Friday. I have now had the task of going through it all with my husband - he just looks at me blank!! Anyway I have said if he gets confused get them to ring me at work and say he has given them permission!! Do you think we have a good case on this or are we just wasting our time?

Another question too if you dont mind I was suppose to hear of a decision from my old Morgan Stanley/Barclaycard account by the 6th September but I still havent heard. I am just wondering now if this has been "upheld" or not and if I should ring them or just leave it another few days = what do you all think?

Thanks for everyone's help in all this you have all helped us so much!!

nutty_nat

amersall wrote: »

What reasons did you give for mis sell?.

Write back with this....
We/I believe we were mis sold the ppi on the above account number.
1)We/I were not told that the ppi was in effect another loan that was added to the original loan and was repayable over the loan term with interest.

2) We/I were not told that the ppi only covered us for 5 years, but the ppi would still be on the loan to term end with interest.

3) We/I were told that if we did not make a claim on the ppi ,after 5 years we would recieve the ppi as cashback, and to look on this as savings plan.. But were not told that the ppi would be on the loan to term end with interest and the cashback of ppi would not include the interest that we paid over the 5 years.

In line with the FOS recommendations it is requested that the overall situation be restored as if PPI had never been included. This will entail:
a) A refund of the monthly payments that have actually been paid towards the overall loan in excess of those that would have been needed, if the original loan had been sold without the PPI policy;
b) Restructuring of the loan going forward so that the amount owed, the monthly repayments, the term and the charges reflect those that would have applied, if the original loan had been sold without the PPI policy.
c) In addition, interest at the rate of 8% simple per annum to any excess payments made from the time each payment was made to the point that Firstplus pays them back to us. We/i believe we were not given enough information on this ppi to make an informed decision. Had we/i known the full cost of this ppi we would not have taken it.

Unless you can prove without doubt that this PPI policy was fair, reasonable and suitable for my/our circumstances we/I will require you to rearrange the loan as if PPI had never been included on the above loan.


If you used this letter,as i have posted this before,how did they dispute this????????.

Amersall you are a true star :A I knew you would be able to help!!!

nerul

Hi All

Received my offer from Lloyds TSB on Saturday 3rd September 2011. My claim had been with the FOS since 2009 ! I found it a bit strange that Lloyds didnt ask for an acceptance letter??

Was amazed to receive my cheque today......£16,471.87 going in my bank tomorrow :j

Best of luck everyone

Rae115

unixgirluk wrote: »

Is it worth using one of the PPI reclaim companies? The reason I ask is I have a few companies I would like to chase to see if I get any money but I really dont have time to do it. Also if these companies aren't worth it can you email the companies rather than writing letters (Dorothy Perkins and Wallis storecards and others)? Has anyone else applied to get PPI back from these companies?

do you really wanna give away at least 25% +vat of your hard heard money you have just managed to get back from the banks???

its your decision at the end of the day however if u post up the companys you need i am sure everyone on here will help you out as much as they can.

rae

The_Marksman

nerul wrote: »

Hi All

Received my offer from Lloyds TSB on Saturday 3rd September 2011. My claim had been with the FOS since 2009 ! I found it a bit strange that Lloyds didnt ask for an acceptance letter??

Was amazed to receive my cheque today......£16,471.87 going in my bank tomorrow :j

Best of luck everyone

:rotfl::j:beer: WELL DONE :beer::j:rotfl:

conkerlily123

amersall wrote: »

What reasons did you give for mis sell?.

Write back with this....
We/I believe we were mis sold the ppi on the above account number.
1)We/I were not told that the ppi was in effect another loan that was added to the original loan and was repayable over the loan term with interest.

2) We/I were not told that the ppi only covered us for 5 years, but the ppi would still be on the loan to term end with interest.

3) We/I were told that if we did not make a claim on the ppi ,after 5 years we would recieve the ppi as cashback, and to look on this as savings plan.. But were not told that the ppi would be on the loan to term end with interest and the cashback of ppi would not include the interest that we paid over the 5 years.

In line with the FOS recommendations it is requested that the overall situation be restored as if PPI had never been included. This will entail:
a) A refund of the monthly payments that have actually been paid towards the overall loan in excess of those that would have been needed, if the original loan had been sold without the PPI policy;
b) Restructuring of the loan going forward so that the amount owed, the monthly repayments, the term and the charges reflect those that would have applied, if the original loan had been sold without the PPI policy.
c) In addition, interest at the rate of 8% simple per annum to any excess payments made from the time each payment was made to the point that Firstplus pays them back to us. We/i believe we were not given enough information on this ppi to make an informed decision. Had we/i known the full cost of this ppi we would not have taken it.

Unless you can prove without doubt that this PPI policy was fair, reasonable and suitable for my/our circumstances we/I will require you to rearrange the loan as if PPI had never been included on the above loan.


If you used this letter,as i have posted this before,how did they dispute this????????.

Hi Amersall,
I didn't see your letter before I sent in the claim. I used the template off this site.

My reasons were

• THESURANCE MAIN APPLICANT HAD EMPLOYMENT COVER
• THE PPI WAS AN UNNECESSARY ADDITION TO THE LOAN THAT WAS NEITHER WANTED OR NEEDED
• NOT TOLD IT WAS OPTIONAL
• NOT TOLD THE COST OF THE INSURANCE
• NOT INFORMED THE PREMIUM WAS A SINGLE PREMIUM
• NOT TOLD THAT WE WOULD HAVE TO PAY A MONTHLY PREMIUM FOR THE PPI FOR THE TERM OF THE LOAN
• NOT TOLD IT WOULD ONLY COVER ONE OF THE APPLICANTS
• IT WAS INDICATED THAT WE WOULD ONLY QUALIFY FOR THE LOAN IF WE TOOK OUT THE PPI
• I WAS NOT ELIGIBLE FOR THE SAME COVER ALTHOUGH I WAS JOINTLY RESPONSIBLE FOR THE DEBT
• NOT INFORMED OF THE BENEFITS OF PPI
• COST OF THE POLICY OVER THE LIFE OF THE THE LOAN IS NOT JUSTIFIED IN RELATION TO THE COVER SOLD
• WE WERE NOT MADE AWARE THAT THE COVER WOULD ONLY LAST FOR THE FIRST 5 YRS OF THE LOAN AND YET WE WOULD HAVE TO PAY THE PREMIUMS FOR THE LIFE OF THE LOAN

FIRSTPLUS RESPONSE
" we have assessed all the information you have provided in support of your complaint, including your recollection of the sale and our own copies of documentation and telephone recordings where available.

We regreat that we are unable to uphold your complaint as:
In your complaint you stated that you were sold a PPI product for which you were unable to claim for.

Our terms and conditions state that customers are ineligible to purchase the PPI product on the criteria of:

• Age
• Residence
• Employment Status

As part of your application, we completed and provided you with a copy of a Statement of Demands and Needs. Within this document we recorded your answers to questions designed to assess your suitability for PPI, including employment status and the existance of any protection/ savings plans that might meet the loan repayments should income reduce or stop through no fault of your own. (It then confirms the answers to the Demands and Needs questions.)

Based on your answers we have advised the following on the purchase of the payment protection plan insurance:

The statement of Demands and Needs reflects the customer's circumstances at the time of the application. It also confirms our recommendation of whether or not customers should take PPI and their decision whether to accept or decline our recommendation.

In this instance, the document shows you agreed our recommendation. I enclose a copy for your reference.

In this instance the PPI sale recommendation was correctly made based on known facts provided by them to us; and it also shows you agreed with our recommendation. I enclose a copy for your reference.

It then outlines the reasons for my complaint

However, we have reviewed the sales process used at the time of the sale and are satisfied that the sales representative would have followed the correct procedure. In addition we have revewed the telephone call recordings from point of sale and are satisfied that the customer account manager explained to you the key features of the policy including costs, benefits, exclusions, limitations and cancellation terms. During the course of the call, the sales representaticve stated:

12.20 minutes the CAM quoted "you are not obliged to take our Premium Protection
18.01 minutes a full breakdown of the cost and cover was disclosed to you including your cancellation rights as shown below.

"I would now like to explain the costs involved in your FP loan of £XXX over 15 yrs and the optional Payment protection.

Your total monthly payment for the cash loan will be £XXX and the total amount payable over the term of the loan would be £XXX. If you choose to take out FP Payment protection the cost of this will be added to the loan. The total additional monthly payment will be £XXX and the additional amount payable over the term of the loan will be £XXX. This includes insurance premium tax at the current rate. This gives a total monthly payment of £XXX and a total amount payable over the term of the loan of £XXXX.

You have applied for FP payment protection, an insurance that could protect your loan repayments, in the event of accident, sickness, involuntary unemployment, hospitalisation or death.

It does not cover any medical condition that you know about at the start of your policy or saw a doctor about in the 12 months immediately before the start of the cover.

Involuntary unemployment, which you knew about or which occurs within 60 days of the protection beginning, will also not be covered.

The cover lasts for the first 5 years of your loan, and after this, if you keep within the loan terms and conditions and have not made a sucessful claim, you can claim a refund of an amount equivalent to half of the insurance premium from FP.

However if you settle your loan early or cancel the insurance before the end of the 5 years you will not ne eligible for a refund equivalent to half the insurance premium from FP. The insurance rebate you will receive, will not be proportional, will be significantly reduced and will not include a refund of the interest paid on the premium. Examples of the amounts you would get back if you cancelled or settled early will e in the documentation.

The cost of your policy is added to the loan amount, however our loans are not dependent on you taking the insurance offered.

THE FULL COSTS AND BENEFITS WERE DISCLOSED AS REQUIRED TO ENABLE YOU TO MAKE AN INFORMED DECISION.
UNFORTUNATELY AS YOU WERE MADE AWARE WE ONLY OFFER THE COMPLETE COVER ON ONE PARTY NORMALLY THE HIGHEST EARNER.

The customer account manager was not an independant financial advisor and is therefore not allowed to discuss other products.

There was no evidence of any pressure or insistance on PPI being required to aquire the loan.

A credit check would have been instigated at the time to assure affordability.

We have conducted a complete review of the sale of your PPI based on the records we have and information we have accessed in the course of our investigations. We have found there is no evidence that the policy was mis-sold and are therefore not able to uphold your complaint.

This communication should be viewed as our final response in relation to this matter however, if you remain dissatisfied, you do have the option to ask the FOS to review your complaint.

Do you think it would be worth drafting another letter?
Did I miss something out of my claim?

Thankyou so much for helping me x

24710274

carlyberyl wrote: »

Hi there can anyone help us? About 8 weeks ago we sent a sar request to mint only for them to return it saying they had no account in my ohs name, we rang them to query this as the account was closed around 4 years ago I think now, we got the account number from credit expert and this is the only account we had with mint. Have ended up ringing creditexpert as mint are denying all knowledge and they have tried contacting mint but mint won't reply, the thing is creditexpert are not happy as mint have either deleted our account well before they should have, or they have given credit expert false information! Does anyone know where we can go from here? Were pretty much sure we had ppi on this account
But we just can get hold of anything!
Thankyou

Hi there my names dave and i have been trying to find my mint card details as rbs refused to look at my claim without it , they advised to write to mint card services at southend on sea , we did and in the words of cilla black surprise surprise no details available ,apparently i m supposed to give them the card number for them to find my account number ! HOW DOES THAT WORK , this has been going on for 8 weeks now and i m getting fed up with it , there is a telephone number on the letter 08709070010 i m giong to give that a go tommorow, this card was cancelled about 4 years ago !
The banks are trying to make it as hard as they can , but we will beat them down in the end good luck cheers dave:)

smitchy73

24710274 wrote: »

Hi there my names dave and i have been trying to find my mint card details as rbs refused to look at my claim without it , they advised to write to mint card services at southend on sea , we did and in the words of cilla black surprise surprise no details available ,apparently i m supposed to give them the card number for them to find my account number ! HOW DOES THAT WORK , this has been going on for 8 weeks now and i m getting fed up with it , there is a telephone number on the letter 08709070010 i m giong to give that a go tommorow, this card was cancelled about 4 years ago !
The banks are trying to make it as hard as they can , but we will beat them down in the end good luck cheers dave:)

If you made payment to this from your bank account, you could try contacting tele banking or pop into your local branch, explain that you're having some problems with some payment made from your account back to that time, just say you were going through some old documents etc, don't say ppi, then when they find the payments ask for the details of the account, usually the reference number will be your card number or your account number.
Another one is if this was done with online banking, sometimes your card number shows on old online statements.
Hope this helps:D

Rae115

nerul wrote: »

Hi All

Received my offer from Lloyds TSB on Saturday 3rd September 2011. My claim had been with the FOS since 2009 ! I found it a bit strange that Lloyds didnt ask for an acceptance letter??

Was amazed to receive my cheque today......£16,471.87 going in my bank tomorrow :j

Best of luck everyone

LOONNNNNGGGGGGGGGGG WAIT - but EXCELLENT RESULTS

WELL DONE :beer::beer::beer: