PPI Reclaiming successes and failures

maxdp

buzzybee05 wrote: »

I am going to claim back on my two credit cards and two loans! I'm hoping this will really help get rid of a fair bit of debt as i've had some of these debts for 3 years or more!

Thank you for giving me the confidence!!!

Buzzy bee that is really good that you feel you have confidence to take this further. Good luck to you and keep us posted.

wendywoo_rarara

I've had success this week (finally!) with reclaiming PPI that i was mis-sold in 2006. I took out a personal loan with my bank (NatWest) one lunchtime, in a bit of a rush. The girl never once mentioned the word 'insurance' to me, but it seems i signed a form saying i wanted it, even though i didn't know what i was signing for. 2 years later when i told a friend how much i was repaying monthly, she said i must be paying for PPI with my loan. It made me get out my paperwork only to see that she was right. I was paying £78 per month for something i never wanted/needed. Funnily enough, the girl at the bank only mentioned 2 figures to me when i took out the loan - the amount i was borrowing and the amount i would be paying back including interest. Insurance was never mentioned.

Last March i went into my branch to cancel the PPI and to ask about reclaiming what i'd been paying for 2 years. I had to write to the head office, who then forwarded my complaint to the Royal Bank Of Scotland, who the insurance was with. I got a letter back saying they spoke with the girl who arranged my loan (which was a lie because she no longer worked for the bank), and i was told i couldn't reclaim because the PPI hadn't been mis-sold to me. I tried again with another letter and pretty much had the same response. So i came to Martin's site and printed off a template letter, added my own bits and sent it to the Financial Ombudsman. They were pretty busy (understandably) but they thoroughly investigated my complaint and finally in December the RBOS agreed as a "goodwill gesture" to refund me what i had paid so far for PPI (25 months' worth) plus 8% interest per annum. The money was put into my bank account yesterday, a total of £2,361.80. I'm absolutely over the moon to have been successful and i intend to use it to pay off one of my credit cards, a major step in helping me get rid of my debts.

I think if it hadn't been for Martin's website and the template letters, i'd have probably given up after i received the second letter from the RBOS. But thankfully i continued and took it further and got a great outcome :j So thank you Martin for this brilliant website and for your helpful letters and advice. I hope other people are as successful as i have been.

showergirl

Natalie6999 wrote: »

Just received a letter from FOS stating that Tesco PF want to settle on a goodwill basis, I am going to accept this & will receive my settlement in 6 - 8 weeks time.

Well Done Natalie. You deserve it:j :j :j

showergirl

deborah46 wrote: »

Well done natalie, you deserve this. Only showergirl to go now:j :j

I am really pleased for you both. But until I see it in writing I am trying not to build my hopes up

maxdp

wendywoo_rarara wrote: »

I've had success this week (finally!) with reclaiming PPI that i was mis-sold in 2006. I took out a personal loan with my bank (NatWest) one lunchtime, in a bit of a rush. The girl never once mentioned the word 'insurance' to me, but it seems i signed a form saying i wanted it, even though i didn't know what i was signing for. 2 years later when i told a friend how much i was repaying monthly, she said i must be paying for PPI with my loan. It made me get out my paperwork only to see that she was right. I was paying £78 per month for something i never wanted/needed. Funnily enough, the girl at the bank only mentioned 2 figures to me when i took out the loan - the amount i was borrowing and the amount i would be paying back including interest. Insurance was never mentioned.

Last March i went into my branch to cancel the PPI and to ask about reclaiming what i'd been paying for 2 years. I had to write to the head office, who then forwarded my complaint to the Royal Bank Of Scotland, who the insurance was with. I got a letter back saying they spoke with the girl who arranged my loan (which was a lie because she no longer worked for the bank), and i was told i couldn't reclaim because the PPI hadn't been mis-sold to me. I tried again with another letter and pretty much had the same response. So i came to Martin's site and printed off a template letter, added my own bits and sent it to the Financial Ombudsman. They were pretty busy (understandably) but they thoroughly investigated my complaint and finally in December the RBOS agreed as a "goodwill gesture" to refund me what i had paid so far for PPI (25 months' worth) plus 8% interest per annum. The money was put into my bank account yesterday, a total of £2,361.80. I'm absolutely over the moon to have been successful and i intend to use it to pay off one of my credit cards, a major step in helping me get rid of my debts.

I think if it hadn't been for Martin's website and the template letters, i'd have probably given up after i received the second letter from the RBOS. But thankfully i continued and took it further and got a great outcome :j So thank you Martin for this brilliant website and for your helpful letters and advice. I hope other people are as successful as i have been.

Well done Wendywoo Really pleased for you.:T :T :T

pammiibaby

I had a loan with the Halifax Bank of Scotland in 2004 and the PPI Insurance was added onto the policy, however I repaid the loan back in 2006 by taking another out with the bank... I sent off a letter to the Bank from one of the MSE experts templates and received a letter saying they were looking into it... two weeks later I received a letter saying that they had looked into the matter and that I was missold the policy and due to the fact the loan was paid back they would calculate a sum for me... just today I have received a letter saying the premium of £902.35 will be repaid also with interest on top so I am waiting on a big heavy cheque coming through my postbox for £1225.00 - I am delighted! :beer: received on 5th March 2009 - magic...

Thank you so much for your advice and I would encourage others who think they may be in a position to claim, download Martins letter and give it a try! What do you have to loose... go for it... :T:T:T:rotfl::rotfl::rotfl:

Thanks :money:

von-1980

I posted letter to hsbc rec'd a reply stating another 4 weeks to get a response to complaint. I have since noticed that on two other loans i have had with them again I was paying PPI also, a vaguely remember the woman harping on about it but didnt realise i had it! Should I send another complaint form to HSBC to also claim this back? Or if my first complaint is resolved and payout will this mean i am unable to complain on 2 nd loan? Or will they look into all my loans with the one complaint?

Im a bit confused!

Would be very grateful for any help! x

di3004

von-1980 wrote: »

I posted letter to hsbc rec'd a reply stating another 4 weeks to get a response to complaint. I have since noticed that on two other loans i have had with them again I was paying PPI also, a vaguely remember the woman harping on about it but didnt realise i had it! Should I send another complaint form to HSBC to also claim this back? Or if my first complaint is resolved and payout will this mean i am unable to complain on 2 nd loan?

Would be very grateful for any help! x

Hi there

I would continue to reclaim on them as well if that were me, its only now you realised about these 2 other loans, you can tell them if you want to that you already have an investigation ongoing with them and tell them as they are for the same reasons you will appreciate them all being looked at the same time, however they may need or ask for more time on this.......that is the knockback here, but maybe you can agree on a certain date between you if that is the case.
Good luck.;)

Incipience

Best of luck to you.. if they get rough tell them you will send round Incipience

broke.com

I have received a letter from Halifax offering me a refund to put me back in the position i would have been in had i not taken the insurance. I wrote to them in mid 2007 requesting the PPI to be cancelled as i never wanted it, they told me it was impossible, would have to take a new loan at a higher rate etc, i fought and am now awaiting a settlement figure. Very happy as i never asked for all the PPI payments back, just to cancel the flipping thing!

Huge thank you to Martin and all on this post, it's so helpful and kept me motivated to fight! :j