PPI Reclaiming successes and failures

only_mee

Matryoshka wrote: »

When I did not hear back from Halifax after the 16 weeks deadline they gave me, I called them. A man said they'd starting processing my payment on 21st September. I asked how much but he couldn't tell me. My question is, "Does this mean they will pay out?"

Two big clues there.

smitchy73

Prestonemma wrote: »

Hi I know this has been probably asked a million times but I'm in a debt management plan and have recently claimed for a ppi from an old loan from alliance and Leicester they have written to me and said they will give me 1227.00 but I have to offset this against the debt which is 3000 I know I sound really ungrateful but do I have to agree to this, has anyone tried to argue the case and successfully won??

Also it is also true that all of the money paid back has to be used against the debt I thought I read somewhere that the interest of 8% was yours to keep and did not have to be offset ( maybe I was wishful thinking or dreaming maybe)

Please help someone as I don't really understand the laws and ins and outs of all this ppi stuff!!

Not sure about the 8% belonging to you, but the bank has the right IF IT'S IN THE CONTRACT(which i'm sure it will be) that they can use the ppi redress to address some of the debt with them, and although you could probably do with the money, on the bright side your debt will have reduced by over £1200 which is a GOOD thing.

I am waiting on my decision from rbs for 6 loans, with 5 due on Monday and still have about £5k on an outstanding loan, one of which has the ppi on it, I was on a DMP but when the debt got sold from one company to another it ended it was the only one left on the DMP and the payments kept getting sent back to them, so they ended it now I just pay the new company directly, and if the ppi complaint goes in my favour it should be restructured and if the redress is enough I'll be glad to get rid of it and hopefully some other debts too.

Hope this helps a wee bit:D

di3004

suarez wrote: »

I had a call today regarding a ppi claim i sent off for a loan taken out in 2001(sent copy of agreement showing pre ticked box)The lady from lloyds says she was looking into it and had noticed that through my lloyds current account i was paying insurance premiums to scottish widows and scottish provident and wanted to know what they were for.I said they were life insurance and mortgage protection.(No need for ppi then,all bases covered including full sick pay for 12 months and death in service benefits.)So hopefully good news soon.I have not banked with lloyds for over 5 years yet they still have my details of outgoings from 2001?.My point is i thought the only kept records for 6 years.Any thoughts,is the 6 year rule a convenience for banks to reject potential claims unless you have the proof?

Hi there

Good luck on your reclaiming.

Do not worry about the 6 year rule, many have been successful even from the 90's accounts, and if you've only just became aware of the ppi as well, you can also make them aware of that.;)

littlehenrydog

di3004 wrote: »

Hi there

Good luck on your reclaiming.

Do not worry about the 6 year rule, many have been successful even from the 90's accounts, and if you've only just became aware of the ppi as well, you can also make them aware of that.;)

My redress was taken back 8 yrs, if I ever get my cash that is still waiting :cool:

di3004

Prestonemma wrote: »

Hi I know this has been probably asked a million times but I'm in a debt management plan and have recently claimed for a ppi from an old loan from alliance and Leicester they have written to me and said they will give me 1227.00 but I have to offset this against the debt which is 3000 I know I sound really ungrateful but do I have to agree to this, has anyone tried to argue the case and successfully won??

Also it is also true that all of the money paid back has to be used against the debt I thought I read somewhere that the interest of 8% was yours to keep and did not have to be offset ( maybe I was wishful thinking or dreaming maybe)

Please help someone as I don't really understand the laws and ins and outs of all this ppi stuff!!

Hi there
Well done on your success!:beer:

I understand that its known that they do this if account in arrears, and I assumed you would receive the interest.

However, if you have other debt that maybe more urgent, you can explain your situation and ask that they consider paying this directly to you, but whether or not they will I am not sure, yet I did read someone was successful in doing this some time ago.

Good luck.;)

Prestonemma

Thanks for the replies peeps and good luck to you all x x x
:T:T:money:

Matryoshka

only_mee wrote: »

Two big clues there.

Thank you I didn't want to get dead excited as it seems they've done mine differently. No offer letter or nothing. Oh well, I can get excited now Wish he'd told me how much though but he did say it could take a while

Rae115

quick update

fax to halifax yesterday asking them to contact me with an update and telling them not to ignore me as i will email the ceo.... nothing received at close of play yesterday, so last night sent an email to the ceo having a right moan.

received a phone call head office, appologising however all down to volume of cases received.

in short i will be called on monday re opus to be given their head peoples email address to contact them. credit card and MPPI are with calculations and i shold receive a letter either monday / tuesday. loan i will have to wait as went in in august.

so finally i kinda know something. this ones a special thanks to ianc re his halifax thread and everyone who has made a comment on there and di :T. all the best guys. fingers crossed for mon /tuesday
rae

scotthayes

I decided to be a little cheeky and see if Halifax would pay back the PPI for a loan I took out in December 1999 paid off in January 2003.

I completed their complaint form and posted it off. The next day I received a call from them to confirm the details and the lady from Halifax noted that the loan was a top-up to another loan I took out in 1997. She told me they would look at both loans.

About a week later I received 4 letters from them. Two of the letters were about the loan from 1997 and two about the loan from 1999. All four stated they were investigating the claims and I would hear back from them within 16 weeks.

I believe they are supposed to deal with complaints within 8 weeks but knowing they would (hopefully) have a huge backlog I felt I should be fair and allow them the 16 weeks.

Well the 16 weeks expired on Thursday (6th October 2011). Knowing our postal system can be, at times, a little slow I again played the nice guy and decided to give them until Monday (10th October).

However, yesterday I received two letters and to my amazement both letters contained a cheque for repayment of PPI.

The outcome!!!

Loan 1: taken out in August 1995 for £5,000 - repayment of PPI - £2,179.78
Loan 2: taken out in December 1999 for £10,000 - repayment of PPI - £3,698.63
Total PPI repayment - £5,878.41

The interesting part to this story, both loans had been paid off more than 7 years ago. I simply explained that it was my belief that I had 7 years from the time I became aware they had mis-sold the PPI and that was only after the recent judicial ruling. So it's well worth looking at those older loans. You have nothing to lose in doing so.

I also, in fairness, must say Halifax were incredibly fair, paid out exactly what I believe to be a fair payment and it was they who included the first loan I took out.

rennies

What were you reclaiming: PPI
Who was the provider: Barclaycard
How much did you get back: £19,220.74
Did you get it back after a letter or did you go to the Financial Ombudsman: After letter
And then write your brief reclaim tale
YES YES YES £19,220.74!!!!!!!!!! I still cant quite believe it. Have had a Barclaycard since around 1990, they calculated the sum based on the last 5 years or so. One letter, couple of minutes of my time. I am stunned!!!! And very very happy!!!