PPI Reclaiming successes and failures

di3004

chrisat14000ft wrote: »

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?

Hi there
Good luc from Lloyds and hope you have a good outcome from them, if not write until you receive the final response, they should enclose the Financial ombudsman details (FOS) leaflet with the procedures of complaining, but let us know and we can help you if required, hopefully it will be good news though.;)

Its good that Cap one has made an offer, but going by what you said, its half of the amount, if your not happy with this, I would go to the FOS, have they given you the timescale to get back to them, to sign then if your happy with this?
This is your choice hunni, if you feel you not satisfied with this then you do have that option.

Going back to lloyds, i have my case with the FOS right now, in my experience with these, they were not easy to deal with and it seems you received the standard fob off response, so please keep at them, good luck.;)

dixiesfriend

Hi, be gentle with me this is my first post
What reclaiming? Loan P.P.I

Provider? Barclays

How much back? £1,198

Letter or ombudsman? 2 Letters

When I left college I got constant post for credit cards and being young and naive I took 2 out.After having nice hols and presents for me for years I had run up a debt of about 3 grand. Then the bank offered me a loan and I thought Why not? so I took a loan out. Each year as I wanted more things car, clothes, holiday, everyday stuff my loan got bigger

I buried my head in the sand and made minimum repayments on my cards. Naughty me!!

In sep 07 I finally had my LBM as I moved in with my bf (now fiance) and decided to do something about it. I found this website one lunchtime and never looked back.

I printed off the template letter adjusted it to my circumstances ( never realised P.P.I was optional and always told you have to have our P.P.I or you don't get the loan).

I sent off the letter and after interim prgress letters from the bank they wrote and said I didn't qualify for a refund.

I was quite disheartened by this until I read other peoples posts on the forums and I sent the 2nd letter.

Within about 10 days I received a phone call saying they would refund me £1,198!!:eek: :eek: :j

The thing that annoyed me though was that they never offered me the money in cash or cheque. They have set a new loan up and taken the refund off of it :mad:

The only good thing is that the new loan is shorter terms and the rate is 6.1%.

If you were thinking about reclaiming and think its not worth the bother IT IS!! A couple of stamps and a template letter is all you need.

This is the best website I wish I 'd found it years ago!!:money: :money: :money: :money: :money:
Bye for now

mslena

After being sent to Martins site by my mum I decided to try and reclaim the PPI on my loan with Alliance and Leceister.

I downloaded the letters and sent them 2 weeks ago, I received a response around 10 days later saying they couldn't prove my PPI had been sold correctly so were offering me a full refund with interest.

A total of £1500..............

Brilliant result :j

dixiesfriend

Hi, be gentle with me this is my first post
What reclaiming? Loan P.P.I

Provider? Barclays

How much back? £1,198

Letter or ombudsman? 2 Letters

When I left college I got constant post for credit cards and being young and naive I took 2 out.After having nice hols and presents for me for years I had run up a debt of about 3 grand. Then the bank offered me a loan and I thought Why not? so I took a loan out. Each year as I wanted more things car, clothes, holiday, everyday stuff my loan got bigger

I buried my head in the sand and made minimum repayments on my cards. Naughty me!!

In sep 07 I finally had my LBM as I moved in with my bf (now fiance) and decided to do something about it. I found this website one lunchtime and never looked back.

I printed off the template letter adjusted it to my circumstances ( never realised P.P.I was optional and always told you have to have our P.P.I or you don't get the loan).

I sent off the letter and after interim prgress letters from the bank they wrote and said I didn't qualify for a refund.

I was quite disheartened by this until I read other peoples posts on the forums and I sent the 2nd letter.

Within about 10 days I received a phone call saying they would refund me £1,198!!:eek: :eek: :j

The thing that annoyed me though was that they never offered me the money in cash or cheque. They have set a new loan up and taken the refund off of it :mad:

The only good thing is that the new loan is shorter terms and the rate is 6.1%.

If you were thinking about reclaiming and think its not worth the bother IT IS!! A couple of stamps and a template letter is all you need.

This is the best website I wish I 'd found it years ago!!:money: :money: :money: :money: :money:
Bye for now

dixiedriver

That's given me hope! My loan was with Woolwich which is now part of Barclays. A&L settled within 8 weeks, but Barclays have had since mid November & just sent to interim letters. I've been advised on discussion thread to write to FOS now, so I will this week.

How they could pull the wool over so many eyes! Not any more thanks to this site!

chunkymunky_3

Hi All
please excuse my ignorance but i honestly new nothing about being able to claim these charges back. My wife and i have a loan from Northern Rock and ive just got the paper work out and got a shock!

Has anyone had success with Northern Rock? and do they tend to pay out easily or are they liable to fight?

mudpack

Just wanted to say Thankyou! having written to A & L twice and being refused a refund, I sent them the fir st template letter and have been refunded over £800, :j

Shellbell

Well I have rang the FOS regarding the offer (as no amount given in letter!) and have been told that I should receive all of the PPI back plus the interest and 8% compensation.

From the letter from them it read as though I had paid the loan off early (which I hadn't and I did explain this to them) so I've signed the settlement form but put a letter in that I saw the loan to the full term.

Can someone offer me some advice though, in the letter it states that I get 8% per annum simple from the redemption date to the redress date so is that a one off 8% or 8% per year from the date I paid the final instalment to now?

Thanks :-)

pinknico

chunkymunky wrote: »

Hi All
please excuse my ignorance but i honestly new nothing about being able to claim these charges back. My wife and i have a loan from Northern Rock and ive just got the paper work out and got a shock!

Has anyone had success with Northern Rock? and do they tend to pay out easily or are they liable to fight?

If you type in Northern Rock in the "search this thread" tab at the top of the page, you should find some posts that tell about success with Northern Rock.

VickyMG

On the 7th February 2009, I finally got a settlement figure for my mis-sold PPI from Halifax.

It all started on 3rd September 2007, when I wrote my first letter to Halifax, (following Martins letter template to a tee) requesting payment for being mis-sold a PPI on my Halifax Loan of £15,000 over an 84 month period, which I took out Sept 2003.

On 13th November 2007, they (Halifax) refused my claim and told me that the sale was justified. Turning to Martin again, I uploaded another template requesting that they look at my complaint agains tating why the Policy did not meet my needs. I never receieved a response. After phone calls to Halifax, trying to get a response, I gave up in January 2008, with view to complaining to the financial ombudsman.

Having been delayed in writing to the financial ombudsman due to personal reasons, I missed the 6 months deadline to ask them to look at my complaint against Halifax. Nevertheless, In June 2008, I decided to write to them explaining my reasons for missing the dealine and they (financial ombudsman) agreed to look at my case in any event.

I sent all the same documentation to them as I did to Halifax along with a copy of my origanal loan agreement. Finally, in January 2009, the financial ombudsman wrote to me informing me that Halifax had agreed to pay back my mis-sold PPI.

The refund for premiums paid to date are: £2,534.49
Refund of interest at 8.9% APR £1,273.03
Interest for compensation at 8% £812.43
Refund for last 3 months interest £152.43

Total Redress £4,772.38 :eek:

This has paid of the remainder of my loan in its intirity less £202.

Whilst it became a long process, it was worth it in the end, as my loan was not due to end until December 2010, which means that I finished my loan 1 year and 10 months early!!!:T

I would advise anyone to do this process, following Martin:money: as it has piad off in my circumstances. Even if it had not, I had nothing to lose!!!:j