PPI Reclaiming successes and failures

karenb7740

This is the first time that I have written on this site although I have been following people on hear for quite a while. I was wondering if someone could give me advise on a Claim that my husband has made to Capital One, of which we have received a letter today to say that they are not upholding the claim, as they were able to supply us with a copy of the original agreement which shows that we ticked the PPI box.
We made a claim on this credit card as we do not believe that under any circumstances we would intentially take out a PPI policy.My husband was in full time employment which he had been for 10 years at the time of taking out the card, and he was paid full pay for a full six months if off sick. We also had a number of insurance policies in force covering both of us for life insurance. We are also foster carers and this makes up a large part of our income which we were aware would not be covered under the unemployement part of any PPI, if we did not have a child for any period of time.
It was when this exact situation happened a few years ago, that we became aware that we were paying the PPI insurance. We had to stop fostering for a year and a half, and struggled to meet the payments on the card, and what we were paying was not going off the balance. When we enquired, it came to light that we had the PPI cover, and it was at this time that we asked for it to be removed as we was not aware that it had been on there.
The card has since fallen into arrears and is under a debt agency and we maintain a regular payment to them.
We really cannot understand how this box is ticked, on the application, but it definately is, so does that mean that we are unable to do anything about this.
A refund of these premiums would clearly clear what we owe on this card.
Any advise would be appreciated.

Matryoshka

But is it a bad thing if they use the PPI refund to drastically reduce a current loan? Only wondering t'is all :think:

Keewee

Matryoshka wrote: »

But is it a bad thing if they use the PPI refund to drastically reduce a current loan? Only wondering t'is all :think:

When I started my PPI journey I was really upset to discover that RBS 'may' put the funds on my overdraft and then close the overdraft off.
I was really looking forward to the payment coming to me for a holiday or something like that and spent a good few days feeling perplexed about this - after all, if they hadn't of agreed to my refund, the overdraft would remain, so how dare they take MY money and do what they like with it?
BUT then I had second thoughts. I would love a holiday, but really by paying the overdraft off they are really doing me a favour. It's out of the way and then I can sever all ties with that rubbish fund stealing bank for good!

One thing though - I still haven't actually got my refund, despite my original claim being in June and acceptance letter being sent back in September!!!!

milkyshake68

BEN0601 wrote: »

£23,000 Happy Chappy! What good news for you.

I had a strange telephone call with Lloyds Loan section yesterday; I had called the PPI people to find out why I hadn't been paid or at least why my loan account hadn't changed (I checked online) and was passed over to the Loan Section. The lady I spoke to said that as my loan is current, any refund of PPI go straight onto paying off my loan. I was staggered because I didn't ask for PPI in the first place, I thought I would have the £3400 put in a cheque and sent to me. Is is true that if you have a current loan, your PPI refund goes towards paying off your loan?

I think they do take it off initially, so they can work out the restructured payments as if you never had the PPI. But then its sent out in full to you unless there are any arrears on the loan. I have a loan with 11 months to go, I rang loan centre and they said by the time i got my refund the loan payment would be restructured and if I wanted to pay it off early to ring them for a settlement figure. I think someone else on this forum has just had their loan amount reduced by £4500 ish and theyve been told they would still get their FULL redress by cheque (LIttlehenrydog???). Although I want to pay off my loan, I would still like the money in my hand first!! Hope this helps.

di3004

martinkd wrote: »

I downloaded the forms a few months ago. A few weeks ago I finally got around to completing them for 2 MBNA cards that I took out about 10 years ago. I was working for myself during the whole period and not on PAYE but was assured that I was still covered by the PPI. I eventually cancelled the cover about 2 years ago as my income dropped significantly and I needed to cut down.
It took me about 20 minutes to complete the forms, sent them off, got the standard 'we are investigating' response. Was fully expecting it to be declined, however ....
yesterday had a letter from MBNA saying the claim on the first card was upheld, and they would be sending me a cheque within 28 days.
Total amount is just over £13,500 !

Now waiting on the decision for the second card, don't see how that one can be declined after they've upheld the first.

Just want to say thanks to ML for explaining this process and making the whole thing so easy.

Hi and welcome, well done and Congratulations!:beer:, that is so fab!:T

di3004

BumbleBee123 wrote: »

Thank you so so much Martin, I have just received £3947 from mis slold PPI on 2 x Halifax Personal Loans.
Have also received a rejection letter to claim from Nationwide Credit card, but it's full of waffle and nothing substantial and I will challenge further.

Good for you:T

Well done:T and Congratulations on your success:beer:

di3004

timtheexprop wrote: »

Hi there,

After being told up to next Friday to get my money from OPUS it arrived in my account last night!

I must say that OPUS have been helpful throughout. Now off to see if an old RBS card had PPI on it, apparently without the number you have to write in to find out

Tim

Tim that is brill :T Congratulations!:beer:

di3004

BEN0601 wrote: »

£23,000 Happy Chappy! What good news for you.

I had a strange telephone call with Lloyds Loan section yesterday; I had called the PPI people to find out why I hadn't been paid or at least why my loan account hadn't changed (I checked online) and was passed over to the Loan Section. The lady I spoke to said that as my loan is current, any refund of PPI go straight onto paying off my loan. I was staggered because I didn't ask for PPI in the first place, I thought I would have the £3400 put in a cheque and sent to me. Is is true that if you have a current loan, your PPI refund goes towards paying off your loan?

Hi there

First of all well done on your success!:beer:

It appears that they do this, although you could write and tell them you were aware you were getting paid a cheque, because even though you have an active account - there are no missed payments/arrears.
You could argue that as you've already been deprived of your money in the first place, you felt it was only right that it should be your choice of how you want this refunded, you could ask if they could consider paying you the cheque directly.

Although no guarantees, there's no harm in trying, and I would also make sure at the same time that your monthly repayments are going to be reduced as well, or its like as if your still paying for the ppi otherwise, good luck.;)

di3004

Racheldevon wrote: »

Hi, I'm wondering if anyone can advise.

A few months ago, on behalf of my mum I successfully used the templated on here to reclaim approx £800 of PPI charges for two credit cards.

I then realised she had equally been missold it (on the basis of being self employed and having a disability - the ground for winning it on the other two cards), for a loan with Black Horse finance.

They have written to her telling her she has no case because she signed the credit agreement; that the booklets etc all explained the limitations of PPI. They say there is nothing to suggest that she was coerced into taking out the PPI or that it was not in her best interests, and have written a 2.5 page letter basically saying the above and how well trained their staff are etc.

I'm not sure how best to proceed, have other people had success of challenging Black Horse? Is is usual to have success with one company and not another? Is there a template to use to write a follow up letter? Any help much appreciated

Thanks

Hi there

I would not leave it there, and again as said in so many posts, this seems to be a standard fob off letter.

Even if a final decision was made, they can sometimes change a decision within good reasons you give, so if you have any further info, ask them to reconsider by 14 days.

May I ask when this loan was sold to your mum (year)?
They seem to neglect as well if they business were not regulated at the time of taking out the loan.
Ask them to provide any written evidence on how they came to the decisions to reject the complaint and tell them despite it being signed, that does not excuse this case because of that, as you do believe since hearing of the mis selling of the PPI you have grounds to make a reclaim.

If they do not change the decision by 14 days in your favour, or if you hear nothing maybe you could complain to the FOS if eligible, they should let you know, good luck.;)

di3004

karenb7740 wrote: »

This is the first time that I have written on this site although I have been following people on hear for quite a while. I was wondering if someone could give me advise on a Claim that my husband has made to Capital One, of which we have received a letter today to say that they are not upholding the claim, as they were able to supply us with a copy of the original agreement which shows that we ticked the PPI box.
We made a claim on this credit card as we do not believe that under any circumstances we would intentially take out a PPI policy.My husband was in full time employment which he had been for 10 years at the time of taking out the card, and he was paid full pay for a full six months if off sick. We also had a number of insurance policies in force covering both of us for life insurance. We are also foster carers and this makes up a large part of our income which we were aware would not be covered under the unemployement part of any PPI, if we did not have a child for any period of time.
It was when this exact situation happened a few years ago, that we became aware that we were paying the PPI insurance. We had to stop fostering for a year and a half, and struggled to meet the payments on the card, and what we were paying was not going off the balance. When we enquired, it came to light that we had the PPI cover, and it was at this time that we asked for it to be removed as we was not aware that it had been on there.
The card has since fallen into arrears and is under a debt agency and we maintain a regular payment to them.
We really cannot understand how this box is ticked, on the application, but it definately is, so does that mean that we are unable to do anything about this.
A refund of these premiums would clearly clear what we owe on this card.
Any advise would be appreciated.

Write to them again, tell them you do not agree with the decision they made, and tell them all you have said as above.
Tell them you definately have grounds to make a reclaim and feel they have failed treating your complaint seriously. (and that you are considering taking this matter further).

What they said is sometimes a standard fob off, even if ticked or signed for at the time, it does not mean you were not mis sold, you still have your reasons and besides it could have been you were told where to sign and it was ticked/marked by them anyway, so do give it another shot, ask them to reconsider by 14 days, with the above info and anything else you can think of that applies to you, if you hear nothing by then or they do not change the decision, they should at least let you know if your eligible to complain to the financial ombudsman service (FOS).

Good luck.;)