PPI Reclaiming successes and failures

Thefarmerswife

I would like to express my sincere gratitude to all the people who take the time to offer advice on this site. I have been a "lurker" for some time, and after reading many sucess stories I decided I had nothing to lose on starting a claim. I sent my two letters back in may ( one to citi card and the other to Yorkshire bank) and just had my second one with CB upheld, for a loan I forgot I even had let alond paid PPI on! the one I had upheld today was for £4594.41 with CB! I also received a cheque from citi back in august for £2488.36. All it took was two simple letters and lots of patience.
I posted the letters on the 12th May, and forgot all about them, now a few months down the line I have had a boosted bank balance and a big smile on my face. so a HUGE thanks to all of you.

djf1968

Hi all

As promised I am updating on my earlier post about HSBC offering to pay off my loan with the upheld PPI claim. As I said I would do at the time and confirming some excellent advice from Forum members, I contacted the FSA who advised to contact HSBC and just ask if they will reconsider the offer made and pay me the money instead of settling the loan.

One quick phone call today and it has been agreed without question!! Happy days. I may have been one of the lucky few here, but I have to say from start to finish I have felt all the staff involved in handling the PPI complaints for HSBC have been thoroughly polite and helpful and I told them so today.

They do seem to want to make sure the customers are teated fairly. I know there may be some on the forum who are dealing with them that may have a different view to mine, but I really cannot fault them in this case.

So, in summary, over 14k, a reduced loan payment and a huge weight off my shoulders. Many thanks to all for the advice and the useful information from this site.

I hope this info helps others. One thing I would like to say is, I just wish I had started the process sooner. Like many others I kept putting it off and putting it off, thinking it was too much trouble and not worth the hassle. I started reading this forum in April and eventually sorted myself out enough to fill in the form and send it off. 4 months later I have made a huge dent in my borrowings, can pay for some much needed improvements to the house and we can have an annual Xmas break without facing hefty CC bills when we get home.

Please please please, if you are new to the forum, take this as a sign that you have to reclaim what is rightfully yours, do not let lethargy get the better of you, and do not be put off asking, as many have said before me, all it will cost you is a small amount of time and a stamp!!!

Good luck all!!!

Dave :beer:

smitchy73

R19SKY wrote: »

Thanks for the reply Amersall - I did sort of notice this so I would say this was correct in part but they are only refunding 2 years worth instead of 4. Can we pursue prior to 6 years or is it just up to the lender also what about the compound interest is that also what we are entitled to or just your luck - don't want to push it if im wrong!!

thanks again

Hi R19sky,

Well done on your success first of all. Okay if you have the paperwork, as amersall said go back to them with copies or phone them up and say you have the paperwork to prove you were paying it from the start, the FSA gives them guidance on what they should be paying back to you in redress.

This is for loans isn't it? If so the way they work it out is to refund your monthly premiums that you have paid, so for example of your monthly payment was £250, made up of £200 for loan, and £50 for ppi, then they refund the £50(this includes interest at loan rate) along with 8% simple interest from the time that each monthly payment was taken.

I noticed you asked about compound interest, this is included in the example above, and you get simple interest on that. Compound interest is normally only on the credit card claims, this is where the big payments come, especially if cards have been going for a few years and with a regular balance on it.

Hope this helps a wee bit:D

smitchy73

nutty_nat wrote: »

Here we go ladies and gents Firstplus Offer Details

Loan taken out on the 20/10/06 and repaid on 8/5/07

Amount of Credit = £105,816.50
Monthly repayments = £793.57
No of repayments = 300 months
APR = 7.9% variable

PPI Loan = £20,816.50
Monthly Repayments = £156.11

A Original ppi policy = £20,816.50
B Interest incurred due to PPI = £1,045.59
C Less any previous successful claim against the loan = £0.00
D Less early settlement for the partial refund of original ppi policy paid at early settlement = £6,348.43
E Total Refund for this loan/further advance. (A+B-C-D) = £15,513.66
F Value of 8% per annum simple interest payment = £4,326.37

Total Back is £19840.03 Whoop, Whoop :money:Thank you so much Martin as well:T:T:T:T:T:j:j:j:j:j

Well done nutty nat, brilliant result.:j:beer:

smitchy73

sunny8 wrote: »

Hi Guys, Congratulations to all winners today..there are some big one's in there :j:j BRILLIANT!! :money::money:

Just after some advice please...my claim has been in with CB & i emailed them yesterday after they said they would be in touch with a positive update...well..they never got in touch so i emailed them and the reply this morning was that they need to speak to me with regards to my claim...Has anyone else had this? I know Smitchy had mentioned that someone had rang his OH before but didnt elaborate on what was said.

Anyway, lady rang me this afternoon & i was at work so i told her i would ring her back at 9 am tomorrow....the thing is i'm feeling really nervous & i dont want her to put words in my mouth..:o. I was just wondering what to say to her...in my complaint i stated that the loans were always conducted in the bank and i was advised that it was looked upon as favorable when ppi was added, and not having the most gleaming credit history i was influenced by this advice, also, i was never really explained to what ppi was all about as i already had private policies to cover what the ppi could have offered me......

Is there any other advice/guidance you guys could give me as what to say when i call her.....i am a nervous wreck as i am not the confrontational type at all :o

Thank you very much :) xx

Sunny8,

When my OH spoke to her, it also seemed to be a big deal but when she phoned she was just giving her an update, which was to say that it was at the calculations department and an offer would be in the post within a couple of days. Just checked name and address with her too, it wasn't a grilling she got so I think you'll be okay sunny.:D

I see your concerns too, we had very similar concerns too, but they never came to fruition, ours were sold in similar circumstances, they agreed to give us the money we needed, we could afford the monthly payment, where do we sign??:rotfl:never just sign anything now, and it p's them off everytime you take an extra 15-20 minutes to read all the fine print.

Scotty512

Hi,

I sent in a claim to Lloyds on 23rd May and received my Claim Acceptance letter in the post last Monday dated 30.8.2011. The letter had no figures so I signed it and got it posted last Tuesday.

Does anyone know how long it will take to get amount letter and then how long to receive the cheque?

Thanks to everyone on here you have been a great help so far

Thanks

LS :rotfl:

sunny8_2

smitchy73 wrote: »

Sunny8,

When my OH spoke to her, it also seemed to be a big deal but when she phoned she was just giving her an update, which was to say that it was at the calculations department and an offer would be in the post within a couple of days. Just checked name and address with her too, it wasn't a grilling she got so I think you'll be okay sunny.:D

I see your concerns too, we had very similar concerns too, but they never came to fruition, ours were sold in similar circumstances, they agreed to give us the money we needed, we could afford the monthly payment, where do we sign??:rotfl:never just sign anything now, and it p's them off everytime you take an extra 15-20 minutes to read all the fine print.

Oh thanks for that smitchy, i know you had said earlier in the month that your oh had a phone call.

The email stated " We need to speak to you in connection with your file. Can you please provide a suitable contact number in order for us to discuss the matter with you.
Understand you are keen for a response therefore this will enable us to have a full review and determine timelines for Final Response".

So someone rang me earlier saying that she wanted to talk to me so i will ring her back tomorrow. The more i read through this email though, the more i think they will knock it back as it says it is to determine timelines for final response??xx

24710274

MARKOS72 wrote: »

No worries-was a Clydesdale Bank cc,waited 16 weeks(give or take)with a few emails along the way.
Reason for rejection was-
"This is because you indicated you wanted to enjoy the benefits of PPI on the Application Form when the credit card was arranged. Also the letter sent to you in May 2003 gave you the opportunity to cancel the PPI if you wished to do so."

I disputed this with help from here,they would not investigate further,referred to FOS now.

Thank you for that it does sound like they are taking the maximum time they can with all claims , i will keep patient and keep ringing on a weekly basis and hope i get a good result , the card was active from late 90 s until about 2 years ago when i payed it of and closed it down, i know that ppi was on the card but d ont have any paperwork from when i got the card or any statements , we have done a sar request as i want to see what info they have about me , i will post on here good or bad , many thanks for your helpful post i wish you all the luck with FOS and hope you get your money back , Cheers Dave:)

smitchy73

sunny8 wrote: »

Oh thanks for that smitchy, i know you had said earlier in the month that your oh had a phone call.

The email stated " We need to speak to you in connection with your file. Can you please provide a suitable contact number in order for us to discuss the matter with you.
Understand you are keen for a response therefore this will enable us to have a full review and determine timelines for Final Response".

So someone rang me earlier saying that she wanted to talk to me so i will ring her back tomorrow. The more i read through this email though, the more i think they will knock it back as it says it is to determine timelines for final response??xx

As mentioned I can't honestly see them phoning you to give you a big fat no, we were only looking for an update rather than the usual fob off, and got told what we got told. Hopefully you'll be the same, I think I put something on the other thread, but if it starts to go to a grilling or anything else just ask her to put it in an email to you or write to you.:D

big_smile_day

Hi everyone, after reading all the forums and advice online I decided to claim against HSBC in early June.

I had no details of account numbers or policy numbers, but a brief visit to my local branch gave me my customer identification number and the email address of their PPI claims division, who within a few days provided all the account and policy numbers I needed.

I filled in forms for 8 policies in total , and had the following responses over the last 4 weeks :

the first for mortgage protection was not successful,
the second for a flexi loan policy was accepted but I needed to provide statements to enable the calculations to be made which unfortunately I don't have so will not receive anything for,
2 for old credit cards resulted in an offer of £465 last week,
and finally 4 for personal loans resulted in an offer of £4,447 in a letter waiting for me when I returned home this evening.

As a VERY disorganised person, and someone who wouldn't normally entertain filling forms out for the fun of it, I beg anyone to try and claim , the reslut is amazing and took no more than an hour or so, and ONE stamp for all 8 policies, GO FOR IT!!!! :T:T:T:D

Thank you MSE for all the help :beer: