PPI Reclaiming successes and failures

biff2606

Hi guys,

First time poster.

Contacted my bank (Halifax) and got details of all accounts (several loans and credit cards). I put in my claim for mis-sold PPI on the basis that 'I has savings elsewhere' that could've paid off debts. Basically I was young and eagre. Just signed anything to get my hands on the cash!! It's only early days in my claim but what do you think my chances are of getting a sum based on my reasoning?

If successful I could be in for quite a 'windfall'

Thanks

spaniellover

HAVEFAITH wrote: »

Def def def take it to the FOS ... no question. Good luck & let us know how it goes

Have a go you have nothing to lose

milkyshake68

Hi everyone,
Im new to this forum but have been reading the posts for quite a while. I put in my claim in May for ppi on a loan thats still running. Got my upheld letter on Sept 1st and my calcs letter today. Rang customer line to see if they could pay the money direct into my ltsb account and she said because there was such a backlog with the bacs system ALL payments from now would be sent out as a cheque cos this was a quicker method at the moment. Has anyone waited for cheques and is there a timescale??

smitchy73

moggy2009 wrote: »

Gettin really sick of waiting on barclays putting our money back in the bank they would be quick enough to take it off us if the shoe:eek: was on the other foot theyve had our acceptance for nearly 3 weeks now:mad::mad::mad::mad::mad::mad::mad::mad::mad:

Yes and they have 8 weeks to process your calculations and payment.

precious12

Lyons79 wrote: »

Hi All

Received my rejection letter from Lloyds TSB yesterday.
Was just after a little advice on whether you think its worth going to the Ombudsman over or just giving it up now.

On 25th March 2003 I went into my local branch of Lloyds TSB and got myself an unsecured loan to clear off some existing debts (loan and credit cards) and also to get some cash for some home improvements.

Whilst in the bank I explained that I’d been looking at other companies in regards to getting a loan but they were quoting me too much in terms of a monthly payment.
The guy asked how much I’d be comfortable paying so, rightly or wrongly, I told him that I could afford around £300 a month.

He then went on to explain that for £300 I could get the £10,000 I was after originally and also the extra cash to pay off my existing debts for £299.92 a month.

There was no mention of loan protection, nor was there any mention that my monthly payments would be £50 lower without any insurance.

I’ve had loans and credit cards previously and had never taken out the insurance option before, and given the choice I wouldn’t have taken it out on this one either. Reason being that I’ve always been in good health (touch wood) and was entitled to sick pay from work. I also had the income of my partner to rely on.

Until recently I was unaware that I even had the loan protection, it was only the fact that I’d received a phone call from a company claiming I may have been miss-sold the ppi that I decided to look into it a bit further.

So I followed the instructions on this website, and I got my loan agreement sent to me from the bank and lo and behold, there is a pre-crossed box agreeing to the ‘optional loan protection’. I did sign and date the document. I’ll be honest, I didn’t read what I was signing. I just wanted to get it over and done with and get the funds in my bank.


So, that’s pretty much the gist of it. Do you think its worth pursuing?

Thanks

That's roughly the same reason why i put in my claim for being miss sold and my claim got upheld in July i would email the CEO and ask them to look at it again if this was not there final decision and if no joy let the FOS deal with it i don,t know what lloyds are playing at :mad: Good luck

smitchy73

sunny8 wrote: »

Morning Guys :D

Good luck to everyone today :p:p:money:

Just thought i would update you with an email i have just sent to the CEO of Clydesdale Bank due to them upholding 1 of my loans but not the other 3 due to the banks retention policy:(:( ( my account has been closed since the branch closed in 2006)....here goes..

"Good Morning.

I refer to my on going complaint with regards to reclaiming PPI on previous loans that were held with your company.

As you will be aware from previous correspondence, i have had several rolling loans with yourselves, however due to the retention policy that you have to legally adhere to, you claim to have no information held on file which identifies these loans and/or the PPI that was applied to them. You are currently upholding one of the several loans i undertook from your corporation, however, are unable to uphold the other loans - to which were all rolling loans due to having lack of information regarding these loans.

I am aware that you need to have this information to discover the details of the finance/ppi but my concern is the issue with the retention of my documents and non despondent request for previous, personal data.

As from previous correspondence you will be conscious that i have forwarded a DSAR to yourselves to try and obtain this information. I received my returned DSAR yesterday that states under the Data Protection Act 1998 you are unable to locate my documents as these have been destroyed. However, when the DSAR was returned there were no details/dates of any destruction/certificate of destruction relating my details, or, any data signed and/or certified from the data security officer that should have been bestowed to me to officially state that my personal data has been officially destroyed.

As i have worked within the NHS for several years i am knowledgeable with relevant legislation with regards to record keeping/data protection and freedom of information as these are guidelines that i have to adhere to myself, therefore, i am conscious of your retention policy that was legalized in January 2005 by the FSA in regards to record keeping and storage/destruction of data. However, i am also aware that documents are not destroyed once the 6 years retention is completed as they are stored in a centralized location. However, i am also aware that it is your discretion as to how long you keep the data, post 6 years. This has been clarified on several telephone calls with your customer service representatives, as i have called several times over the last two weeks to elucidate location and/or time limitations of stored data post retention period.

As stated previously, i have been advised by the PPI team that if i possessed the original agreements/account numbers, you would be able to deal with this issue, so, therefore if i provided you with the relevant account numbers, you would be able to locate this data immediately, therefore this proves that there must still be my personal data on file.


Your staff; Carol Craig & Gina Arthur -to which have been dealing with my case, have been most amiable, obliging and cooperative, and, i do appreciate the time that has been undertook to look in to my complaint.

I have contacted the ICO and FSA to gain advice with regards to my complaint who have advised me to speak with you again in regards to obtaining this information and you solving the issue by addressing all my previous loans. I am defiant that ALL finance was taken in consistent and identical situation. I personally have statements to prove monthly repayments that were made from my current account to my loan accounts, therefore, you MUST be able to retrieve this information as this is what i was provided with on the last request for information from yourselves some time ago.


The FSA Handbook produces guidance and regulations to which financial business's adhere to. I have been advised about guidance which states:

3.2.7.G: The firm should consider all of its sales of payment protection contracts to the complainant in respect of re-financed loans that were rolled up into the loan covered by the payment protection contract that is the subject of the complaint. The firm should consider the cumulative financial impact on the complainant of any previous breaches or failings in those sales.

3.3.3 G: The firm should recognise that oral evidence may be sufficient evidence and not dismiss evidence from the complainant solely because it is not supported by documentary proof. The firm should take account of a complainant's limited ability fully to articulate his complaint or to explain his actions or decisions made at the time of the sale

3.3.8 G: The firm should not draw a negative inference from a complainant not having kept documentation relating to the purchase of thepolicy for any particular period of time.

I request that you kindly reconsider your position and re-evaluate my situation and/or provide me with appropriate information that legally informs me of destruction of my personal data.

I look forward to hearing from you shortly."

What do you guys think :think:xx

Looks good to me Sunny, well done, good choice of words, I know what you must be thinking inside your head though!:mad:

smitchy73

HAVEFAITH wrote: »

Hi I've noticed that the likes of NatWest are taking an age to produce payments after my acceptance for was sent in some 7 weeks ago!

Are others experiencing the same from other companies? ... they don't seem bothered about paying it back!!

You could contact the FSA, as far as I know the big lenders were given 8 weeks to carry out calculations and pay you back your redress money, so if it gets to that stage and still nothing, give them a wee phone then email their CEO [EMAIL="Stephen.Hester@rbs.co.uk"]Stephen.Hester@rbs.co.uk[/EMAIL] and complain to him, it may or may not work.

Hope this helps:D

smitchy73

MARKOS72 wrote: »

Email from Ombudsman this morning,confirmng receipt of my paperwork with regards to my Clydesdale CC and now being investigated.

Hopefully they'll get to look at it sooner rather than later for you Markos.:D

MARKOS72

smitchy73 wrote: »

Hopefully they'll get to look at it sooner rather than later for you Markos.:D

Hope so,but I'm a patient man...

smitchy73

biff2606 wrote: »

Hi guys,

First time poster.

Contacted my bank (Halifax) and got details of all accounts (several loans and credit cards). I put in my claim for mis-sold PPI on the basis that 'I has savings elsewhere' that could've paid off debts. Basically I was young and eagre. Just signed anything to get my hands on the cash!! It's only early days in my claim but what do you think my chances are of getting a sum based on my reasoning?

If successful I could be in for quite a 'windfall'

Thanks

It's hard to say how much of a windfall you could get as you haven't posted any figures, but if succesful against all of your complaints, and depending on the figures involved yes you could be in for a hefty figure.
For loans you'd expect to get back all ppi premiums paid with their associated interest, plus 8% simple interest from when each payment was made.
Credit cards are harder to work out as they have to restructure your account from the beginning as if the ppi was never added, you should get back the difference of what your account was and would've been if the ppi wasn't there, plus when restructuring your account and if it goes into credit you get 8% interest on that, but make sure you get the card rate of interest returned, as this will more than likely be a lot higher.

Good luck and keep us updated, and if you need anymore help, let us know and we'll do our best.:D

PS we charge a whopping 0% on any win you receive.