PPI Reclaiming successes and failures

nyteghoul

I sent of my 1st letter on the 4th Feb, and today 7th Feb have received there reply saying I wasn't mis-sold the Account Cover on my account, as they state I had 30 days in which I could have cancelled it. There reason being I was the one who chose it, and had 30 days to cancel it, the letter also states the Account Cover was upgraded on 2 separate dates with T/Cs posted out to me which I don't remember..The letter said if I'm still not happy to get in touch with Finance and Leasing Association, i've never heard of them ?

What should I do ?? i opened the account back in 1998, they said was i agreed to my Account Cover over the phone, do you think they still have the transcripts or just send off my 2nd letter ??

di3004

nyteghoul wrote: »

I sent of my 1st letter on the 4th Feb, and today 7th Feb have received there reply saying I wasn't mis-sold the Account Cover on my account, as they state I had 30 days in which I could have cancelled it. There reason being I was the one who chose it, and had 30 days to cancel it, the letter also states the Account Cover was upgraded on 2 separate dates with T/Cs posted out to me which I don't remember..The letter said if I'm still not happy to get in touch with Finance and Leasing Association, i've never heard of them ?

What should I do ?? i opened the account back in 1998, they said was i agreed to my Account Cover over the phone, do you think they still have the transcripts or just send off my 2nd letter ??

Hi there
They may be fobbing you off, so the more paperwork you have on this the better, even if you request a Subject Access request (SAR) the chances are that you will only receive the info going back only as far as 6 years, some do receive info from earlier days, but its not always the case.

Here is the link to the Financial leasing association, contact them and see what they have to say about this matter:
http://www.fla.org.uk/fla/consumerfinance/ConsumerFinanceOverview.riv

If you require paperwork and info on you on your Account(s), check on the ppi discussion thread, on page 1 you will find a SAR template, or maybe start a thread in this area where someone will be along to help.

Good luck.

shepster77

Got a letter back from the Halifax today and informed that I would be getting a full refund of PPI. Refund of premiums£1450.71, refund of interst at 6% £322.69, interest at 8% 295.57. Total £2068.97. Enough to pay my loan off early and a few hundred to spare. Happy days.:beer:

All for the cost of a recorded delivery letter at £1.12. Many thanks to all on this site.

Still after egg, barclays and A+L.

pebbles88

shepster77 wrote: »

Got a letter back from the Halifax today and informed that I would be getting a full refund of PPI.
Refund of premiums

Well done :T

icecoldmilkman

My 1st post on here and have been an avid follower of MSE / hanging onto Martins' every word since 2004. The major two reasons are 1, to register here and to publicly thank Martin for his advice regarding 'PPI Reclaiming' and 2, to provide another success story for those 'unsure' and to spur them into sending that first template letter in. It is definitely worth it.

I took out a personal loan with A&L back in June 2006 and only until I read the PPI reclaim advice in Sept 2008 I realised I was mis-sold the PPI policy that went with it. The initial call with a seemingly helpful A&L salesperson actually contained the now 'infamous' words "Sir, I am afraid I can only accept this loan (£6000) if you take out our Personal Protection Insurance on the loan". The PPI she referred to was the full package at an extra £65 per month on top and so I hastily replied "If your saying that I have to take out a PPI then I would prefer it to be your basic policy" which then became an extra £4 or so a month on top - a heck of a difference. As I was unaware that I was being mis-sold at the time, I accepted and my loan arrived.

Fast forward to the more interesting part, September 2008. I fill out 'Stage 1' Letter template and give A&L 8 weeks to justify their 'reasons' and send with a 1st class stamp (Recorded delivery is recommended) which did actually arrive as I received a confirmation of receipt from A&L a week later. On the very 8th week (as expected) I received a letter saying that they are still investigating and my patience 'appreciated' on the matter. A booklet regarding the FOS was included if I wanted to take the complaint further. I was tempted to give them a further 14 days (Stage 2 letter template) but I completed the FOS application instead as I have waited long enough and pretty much due to A&L's lack of response throughout. On the 12th week and having received confirmation from FOS that they have my file on record, A&L are unable to justify reasons and offer me my full PPI including premiums which was just about £200. FOS didn't even have time to get involved but definitely a great backup nevertheless. Feeling very proud of myself, I call FOS and let them know that the matter is settled between little me and big A&L!

Just received the cheque and MY money that I was deprived of since June 2006 is now back where it rightfully belongs! :j

Funniest part of this was: I called A&L last week to check that they had definitely received my acceptance form and the lovely lady confirmed and apologised for the delay but also added, "We've had a lot of these recently and its taking a bit of time to go through them all".....I wanted to say, ":money:told me to do it" BUT instead just ended the call politely with a smile on my face. :rotfl::rotfl::rotfl:

Well I hope this helps someone :cool: All the best to those and well done to all other success stories!

tylerlewis

jimbean82 wrote: »

how did they make the payment?

It was paid direct into my bank account. I sent my forms back on Thursday and it was in my account on Tuesday. :T

Puddlesplasher

After nearly 12 weeks I have had a letter from Alliance and Leicester today to say that they can't establish if I was provided with sufficient details to allow me to make an informed decision on the PPI and so are going to refund £2150 to me!!

I am over the moon and want to thank this website and the members for all the help and information I have received.

They have sent me a new loan agreement without the PPI on it to sign and return. However, we now want to settle the loan so I'm just wondering what the best way to go about it is. I don't want to agree to the new loan and then be penalised for paying it off straight away. Does anyone know if they will be able to calculate a settlement figure on the old loan with the PPI on?

marshallka

Puddlesplasher wrote: »

After nearly 12 weeks I have had a letter from Alliance and Leicester today to say that they can't establish if I was provided with sufficient details to allow me to make an informed decision on the PPI and so are going to refund £2150 to me!!

I am over the moon and want to thank this website and the members for all the help and information I have received.

They have sent me a new loan agreement without the PPI on it to sign and return. However, we now want to settle the loan so I'm just wondering what the best way to go about it is. I don't want to agree to the new loan and then be penalised for paying it off straight away. Does anyone know if they will be able to calculate a settlement figure on the old loan with the PPI on?

One way of looking at this (not saying I am right here!!) is to tell them that you don't want another loan and then let them take the PPI refunded to you off the settlement of the old loan (which would have to be settled without PPI as it was missold to you anyway).

Its the same as if you settled the loan with the PPI and then went for the misselling and then got refunded for the PPI.

How they do this is look at what you paid to settle the loan with the PPI and then what you would have paid without the PPI and refund the difference plus the PPI repayments and of course 8% stat interest as a court would award.

pebbles88

icecoldmilkman wrote: »

My 1st post on here and have been an avid follower of MSE / hanging onto Martins' every word since 2004. The major two reasons are 1, to register here and to publicly thank Martin for his advice regarding 'PPI Reclaiming' and 2, to provide another success story for those 'unsure' and to spur them into sending that first template letter in. It is definitely worth it.

I took out a personal loan with A&L back in June 2006 and only until I read the PPI reclaim advice in Sept 2008 I realised I was mis-sold the PPI policy that went with it. The initial call with a seemingly helpful A&L salesperson actually contained the now 'infamous' words "Sir, I am afraid I can only accept this loan (£6000) if you take out our Personal Protection Insurance on the loan". The PPI she referred to was the full package at an extra £65 per month on top and so I hastily replied "If your saying that I have to take out a PPI then I would prefer it to be your basic policy" which then became an extra £4 or so a month on top - a heck of a difference. As I was unaware that I was being mis-sold at the time, I accepted and my loan arrived.

Fast forward to the more interesting part, September 2008. I fill out 'Stage 1' Letter template and give A&L 8 weeks to justify their 'reasons' and send with a 1st class stamp (Recorded delivery is recommended) which did actually arrive as I received a confirmation of receipt from A&L a week later. On the very 8th week (as expected) I received a letter saying that they are still investigating and my patience 'appreciated' on the matter. A booklet regarding the FOS was included if I wanted to take the complaint further. I was tempted to give them a further 14 days (Stage 2 letter template) but I completed the FOS application instead as I have waited long enough and pretty much due to A&L's lack of response throughout. On the 12th week and having received confirmation from FOS that they have my file on record, A&L are unable to justify reasons and offer me my full PPI including premiums which was just about £200. FOS didn't even have time to get involved but definitely a great backup nevertheless. Feeling very proud of myself, I call FOS and let them know that the matter is settled between little me and big A&L!

Just received the cheque and MY money that I was deprived of since June 2006 is now back where it rightfully belongs! :j

Funniest part of this was: I called A&L last week to check that they had definitely received my acceptance form and the lovely lady confirmed and apologised for the delay but also added, "We've had a lot of these recently and its taking a bit of time to go through them all".....I wanted to say, ":money:told me to do it" BUT instead just ended the call politely with a smile on my face. :rotfl::rotfl::rotfl:

Well I hope this helps someone :cool: All the best to those and well done to all other success stories!

well done, its lovely to hear of peoples successes

chrisat14000ft

On 8th january 2008 I wrote to lloyds TSB and Capital One claiming mis-sold PPI.

Capital One initially wrote back saying I had plenty of time to read all t&c's for the PPI and said I have no grounds for complaining. I wrote to them again with MSE 2nd tenplate letter saying i wasnt happy, yesterday I had a letter from them stating that they accept no mis-selling, but would offer a good will gesture of £1826. Which works out to 50% of the premius that i paid including 8% interest.

Still awaiting a response from Lloyds TSB.

Who thinks I should accept Cap Ones offer?