PPI Reclaiming successes and failures

bondquest

This thread is to report a success, and a cautionary tale.

I took out a loan in 2006 for £5000 over 5 years to buy a new car. I applied online, and when you're accepted they send the documents for you to sign.

For whatever reason I applied for PPI. I never normally do so, but I must have been feeling vulnerable. Four and half years later, and after receiving some advice through an MSE email, I write to the lender requesting a copy of the agreement I signed for the PPI (I couldn't find my copy, and couldn't even remember applying for it, so I thought I might have been mis-sold). Two weeks later a nice letter turns up, with a copy of the agreement definitely signed by me.

At this point I thought "that's it, I can't make a claim", and filed the copy agreement.

About 3 months later, and around 1 month after the loan was repaid in full, I got a "cold call" from a "claims advisor". I explained to her everything about the loan, and the agreement I'd signed for the PPI.

"That doesn't necessarily matter" she said. "We work on a no win, no fee basis" she went on. My attitude was "they've got no chance of getting anything back for me". So I said "OK if it's no win, no fee, you can make a claim for me. Good luck because I don't think you'll get anything", and I sent the signed agreement back to them. They are very courteous, and phone and email you to let you know they've made a claim,and let you know how it's progressing. "Good luck" I thought, you'll need it.

Anyway 4 weeks later a letter arrives from the lender. I open it, and it's an offer of £987. I couldn't believe it, and accepted as I think it's very fair. Now the downside, the claims people are taking 39%.

OK I know 100's of you will look at this and think "idiot". "Why did he use a claims advisor?". Well this thread is the message, and the warning.

THE MESSAGE - Do make a PPI claim whatever the circumstances, as you may well have been mis-sold without you even realising (e.g. you may have had adequate cover through your work, and may never have been able to use the insurance). It will only cost you £2 or £3.

THE WARNING - Don't use a PPI Claims Advisor. They are very expensive, and most people will be able to handle their own claim by following the MSE guides.

Please pass this on to any of your friends and family, JUST BECAUSE YOU SIGNED AN AGREEMENT, IT DOESN'T MEAN YOU DON'T HAVE A VALID CLAIM.

Oh by the way, the lender was Nationwide, and I haven't got the money yet, but 28 days haven't elapsed. The claims advisor has phoned twice, to let me know they've been onto Nationwide to "speed them up a bit, as they've been delaying".

I really wanted the claims people to send me copies of their correspondence with the lender, so I could post their text in here, to give people and idea of what to put. Would it be improper of me to request copies from them?

Cheerio, and good luck with your claims.

spaniellover

stephen_g wrote: »

any one got the correct email adress for the ceo of barclays thanks

I emailed the CEO and got a reply from Andrew Lavender, Cuctomer Relations Manager, Executive Support Team, Head Office Customer Relations, London, E14 5HP.

Give it a try

stephen_g_3

thanks spaniellover but whats the e mail address

spaniellover

stephen_g wrote: »

thanks spaniellover but whats the e mail address

[EMAIL="Robert.diamond@barclaysplc.com"]Robert.diamond@barclaysplc.com[/EMAIL] but I think you still get reply from above, put his name in front

paid_too_much

I think I must have read nearly all the posts on this thread in the last few days and yes my eyes ARE bleeding!

I'm currently on day 17 waiting for a decision from MBNA (I have the p/w stating I ticked NO to the PPI so I am feeling *touch wood* fairly confident.)

This claim goes back to 1999 and for the last 7 years has been at it's limit of nearly £9K on a 0.79/100 owed PPI. If/when I get this money back from them I have Capital One to deal with but having read the forum I thought it best to go after MBNA first.

I'd just like to thank everyone for posting their success on here as it's really given me confidence and whatever the outcome I no longer feel like a sad victim of a viscious system. And I can say that all my 'legitamate debt' was paid long ago, it's only the accounts with PPI on them that are giving me grief! No suprise there, then!

I wish you all well no matter how big or small our claim the money is ALWAYS better in our pockets than the banks.

Now to go and tap my foot for 11 days! x

tanmich

Just to update, a strange coincidence, I placed my complaints to Lloyds TSB and Barclaycard in early July 2011, the letters of receipt arrived 13th July, both on the same day.
Letter of upheld from Barclaycard 26th August, returned my acceptance and logged on their system 1st september, upheld letter from Lloyds 26 October. I did send emails to both but got bog standard replies and today after checking my bank account both have paid in full the redress amounts to the tune of over £7,000.00 combined. So its worth the wait but I still can't understand why mine even through different Banks have suddenly been credited to my account on the same day.
I still have one claim sent in yesterday for an old loan with Lloyds TSB dating from 1998 using the template letter on this great site, so thank you so much for your help, support and information, you have helped me to reclaim what is rightfully mine.
Just hope you all get your redresses as soon as possible its a long wait but worth it in the long run.

bondquest

Just a quick note.

Unlike paid_too_much, I was a complete noob and didn't read any previous posts in this thread.

Since my first post (about an hour ago) I read a few. Apologies if I sounded like a clever so and so.

I now realise two very important points;

i) My £987 was a good result, but it was really small compared to what some people are rightly claiming (no wonder the banks are stalling) and...

ii) I haven't actually got any money yet, despite sounding so cocky. It seems this situation might continue longer than the promised 28 days, but I'll let you know.

Happy and successful claiming

zoe1234_2

Digitaltrance - That doesnt sound fair at all. They are completely useless and slow and dont realise that it is our money. I still dont understand how it can take so long for an office to simply write out the cheques and post. I really hope you dont have to wait too long. This delay is not doing them any good either and giving them an even more bad name! Are we allowed to add interest on the delayed time?

Nuttynat - Heres hoping you dont get a delay too. I think it is worth pestering. Why do they have to issue cheques anyway, putting it straight into account would be easier and less work for them.

Well, I am now getting concerned that I wont be seeing my money til Jan now then and I am sure they will try and blame the xmas post.

Hope this week ends better for some of you

Z

Nightowl

I have an offer for a Lloyds credit card ppi for just over £500, and you guessed it I am still waiting. I sent off to a few other provider whom I thought i might have had PPi with, with no joy. One bank I believe said it had no record of the account and it was within 6 years but I have no details other than an account number.
I was wondering, does anyone know if there is a company that charges less than the other for PPi reclaim? I feel I have reached a brick wall with this one but wouldn't mind letting a company have a go for a percentage rather than just giving up - I may not even have had PPI on it.

Thanks

sand100

has anyone had any luck claiming back ppi from ocean finance ?