PPI Reclaiming successes and failures

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

march08

This morning I received a cheque for £2868 from Sainsburys Bank in respect of PPI payments already paid. They have also said that they will reduce my monthly loan payments by £60 per month.

They said in their original letter that they would pay out within four weeks. The four weeks is tomorrow so I am very happy.

lola79_2

Hi there

I received a letter from HSBC offering me £821.00 refund on PPI. I had to make an appointment with my local branch to have my loan restructured which turned out to be incredibly difficult!! :mad: i rang, emailed and even turned up to the bank but they didnt have time to see me...eventually i got seen and the manager was very confused i was offered a refund and didnt know how to go about refunding it. After an hour and a half my loan was restructured and my £821 was due to be paid in. When i checked my account my loan is for the correct amount but they have actually refunded me £2880!!!:eek:

Im not sure what to do about it! contact them and tell them that figure is a mistake?? or is it the right figure?? it took so long to get anything out of them...should i just leave it a few weeks and wait for them to pick up on it. Legally where do i stand?

Any help is much appreciated..i want to take the money and run but i dont want to end up in trouble a few months down the line!

Thanks

marshallka

lola79 wrote: »

Hi there

I received a letter from HSBC offering me £821.00 refund on PPI. I had to make an appointment with my local branch to have my loan restructured which turned out to be incredibly difficult!! :mad: i rang, emailed and even turned up to the bank but they didnt have time to see me...eventually i got seen and the manager was very confused i was offered a refund and didnt know how to go about refunding it. After an hour and a half my loan was restructured and my £821 was due to be paid in. When i checked my account my loan is for the correct amount but they have actually refunded me £2880!!!:eek:

Im not sure what to do about it! contact them and tell them that figure is a mistake?? or is it the right figure?? it took so long to get anything out of them...should i just leave it a few weeks and wait for them to pick up on it. Legally where do i stand?

Any help is much appreciated..i want to take the money and run but i dont want to end up in trouble a few months down the line!

Thanks

I'm glad you got your refund and as its more than you expected (was the £821 in writing!!) then its really for only you to answer. Well done.:beer:

mollyhatchet

Success at last ..... Just had a letter from the financial ombudsman to tell us that HFC bank have agreed to pay back the PPI that they miss sold plus interest. Its taken three months to get to this point ( still have anouther 6 weeks to wait for them to pay up)
Did n't think we would get it as it all seemed be taking so long but worth the wait
Thanks Martin:beer:

pinknico

lola79 wrote: »

Hi there

I received a letter from HSBC offering me £821.00 refund on PPI. I had to make an appointment with my local branch to have my loan restructured which turned out to be incredibly difficult!! :mad: i rang, emailed and even turned up to the bank but they didnt have time to see me...eventually i got seen and the manager was very confused i was offered a refund and didnt know how to go about refunding it. After an hour and a half my loan was restructured and my £821 was due to be paid in. When i checked my account my loan is for the correct amount but they have actually refunded me £2880!!!:eek:

Im not sure what to do about it! contact them and tell them that figure is a mistake?? or is it the right figure?? it took so long to get anything out of them...should i just leave it a few weeks and wait for them to pick up on it. Legally where do i stand?

Any help is much appreciated..i want to take the money and run but i dont want to end up in trouble a few months down the line!

Thanks

Hello there, if I were you I would ring them and ask them about it, the last thing you want is further down the line,them taking it back and you have spent it.

But as Marshalka so rightly says the choice is yours.

daniel1985_2

Hi all,

After sending back my acceptance letter for £1300 from HSBC last wednesday, I was just wondering if anyone knew how long before i will recieve the money???

marshallka

daniel1985 wrote: »

Hi all,

After sending back my acceptance letter for £1300 from HSBC last wednesday, I was just wondering if anyone knew how long before i will recieve the money???

This has varied from bank to bank. I got mine in about 4 weeks from when the letter was sent back other have been a few more weeks. I did have to ring them though to jog them on.;)

di3004

daniel1985 wrote: »

Hi all,

After sending back my acceptance letter for £1300 from HSBC last wednesday, I was just wondering if anyone knew how long before i will recieve the money???

They can take up to 28 days (4 weeks), I was informed by Liverpool Victoria approx 28 days and it was 14 days after I received the cheque refund on them receiving the signed documentation, so this can vary, however if you do not hear anything from them within a month I would most certainly contact them, if a Letter before action is required known as short as a LBA this could be arranged to send one of these to them.

Please keep us updated and good luck.

Good news on the refund though, well done.:T :beer:

nearlybroke

Hi All

I'm not sure if my case may just have broken some sort of record on here, but Northern Crock have offered payment already!!! They agreed I was mis sold and had fallen short of the high standard of service I had a right to expect!! Been paying it for 31 months and have paid £1,355 so I get that plus 8% back. Not bad for 20min on here and a couple of stamps!! Next job is to hit Egg with a SAR request and then see if I can get some money back from them as well!!!

Big thank you to everyone for their direct advice or just for posting on here.