PPI Reclaiming successes and failures

Snow_Queen_2

Just wanted to say thanks to Martin, I contacted Alliance and Leicester about the PPI I was sold for a loan that was taken out in May 2007. The first responses received were from several departments and stated that the policy had been sold correctly. I sent the second letter and now have an offer for the repayment plus interest and also that the PPI will be cancelled.

Cheers!

TJUK2007

Hi guys,

Sent off my PPI reclaiming letter to Halifax, now waiting for a response! Fingers crossed.

I was just wondering what the 'miss-sold' reasons were for people reclaiming their PPI. With me, it was that as well as working, I am self-employed, and I told Halifax this when I took out my PPI but they sold me the insurance anyway. Ive been thinking for two years I'd be able to claim should I be made redundant - which has very nearly happened twice, but because I'm self employed - even though I take no money from my business as it is not making profit at the moment (only been going for nearly two years) I wouldnt be able to claim a penny.

PPI was £324 - not loads, but not worth paying for no reason either!

Best wishes,

TJUK2007

cornflakegirl

dithedancer wrote: »

hi. is there any success stories for reclaiming any ppi from yorkshire bank. ive looked through the threads and cant find anything. i know there was a problem with them when reclaiming them bank charges. ive sent my letter to them in the last few days should i be pessamistic or optomistic.

I have been rejected my refund of nearly 2 grand!! I have no idea what to do next..they said i can appeal but i am scared to be honest!!

MSE_Martin

cornflakegirl wrote: »

I have been rejected my refund of nearly 2 grand!! I have no idea what to do next..they said i can appeal but i am scared to be honest!!

What you scared of?

Assuming you're at the stage where you've just written to your bank.. .as the article says EXPECT THEM TO SAY NO. That's part of the process... now if you think you've been missold either write back or take it to the ombudsman

Please re-read the PPI reclaiming article; its all explained in the step-by-step.

THe worst that can happen is you lose the cost of a few stamps

Martin

greendog_2

well I've had a total of 3 letters back from lloyds,2 sayin there looking into it an one letter that came with a booklet about ppi telling me all the benefits from having it?what does this mean?they are still looking into it or hoping i change my mind ?
also i was wondering when the bank say they will take the amount off your existing loan if anyones actually wrote them a letter asking for it to be paid into your current account?is there any template letters regards this?

dimple

Hi

I wrote to HFC/Benefical about 3 loans taken out with them, a single loan each for myself and my husband and a joint loan. I received the first letter that said they were looking into it. After 8 weeks I received another letter saying that they were still waiting for the paperwork as it was in storage. They then called me and said that unfortunately they had not received the files yet but as they had gone over the 8 weeks I was entitled to go to the financial onbudsman.

As it was the week before the xmas break I havent done anything yet. Do you think that I should send the second letter off advising that I am giving them 14 days to respond before I go to the onbudsman or should I just go straight to them?

Has anyone else had any success with HFC/Beneficial?

Please help!

Dimple

gt568

dimple wrote: »

Hi

I wrote to HFC/Benefical about 3 loans taken out with them, a single loan each for myself and my husband and a joint loan. I received the first letter that said they were looking into it. After 8 weeks I received another letter saying that they were still waiting for the paperwork as it was in storage. They then called me and said that unfortunately they had not received the files yet but as they had gone over the 8 weeks I was entitled to go to the financial onbudsman.

As it was the week before the xmas break I havent done anything yet. Do you think that I should send the second letter off advising that I am giving them 14 days to respond before I go to the onbudsman or should I just go straight to them?

Has anyone else had any success with HFC/Beneficial?

Please help!

Dimple

I'd give them another 14 days.

I'd also ask questions like this in the discussion thread

http://http://forums.moneysavingexpert.com/showthread.html?t=524028&page=82

angie1982

Hi,

• Reclaiming the ppi on my HSBC graduate loan account.
• Reclaimed £2188.03 (all the repayments plus 8% interest)
• Wrote two letters to HSBC then went to the Ombudsman.

I took a graduate loan with HSBC early 2005 to start up my own business. When i took out the loan i was told that it wouldn't go through unless i took the insurance, they basically made i sound compulsory. No one told me it was optional. After about a year of being fed up paying it i decided to look through the policy which had no cancellation clause, and didn't even look relevant to me as i'm self employed. I phoned and tried to cancel it but they wouldn't budge.

I saw Martin on GMTV talking about reclaiming these types of PPI and decided to try again, i phoned them, told them it was unlawful not to allow me to cancel but still they wouldn't budge.

Followed the templated letters and got two long boring letters saying "you have all the documentation" etc etc so filled out the form for the ombudsman about two months ago.

Didn't hear anything else until yesterday when i received a letter from HSBC to say that following my complaint to the Ombudsman they were going to uphold my complaint, they are willing to pay back all the payments made plus interest at 8%.

I am over the moon! It was painstainkingly long to do but well worth it and not that difficult.

Thanks Martin Lewis, soon i'll be two grand richer!! :j

Angela.xx

yummy_mummy_rach

Hiya everyone

After hearing about PPI reclaiming, I have written to HSBC asking for money back on several policies that were missold to us, namely Income Protection, Mortgage repayment protection x2 and life insurance policies with a reduculously high premium. I have received a letter back saying that they cannot agree to pay because we signed the documentation, confirming we were happy with all the policies etc, but our argument is, that at that time, we were 19 and 23, and didnt have a clue what we were being sold, also, we were led to believe by the sales person at HSBC that we NEEDED TO TAKE THE COVER IN ORDER FOR OUR MORTGAGE APPLICATION TO GO THROUGH!!! (Although they wont have documentation to prove that now would they?!)

So now, I'm going to be writing back to HSBC telling them that I am very dissappointed with thier response, and now I am going to the FSA/Ombudsman. Wish me luck everyone, and good luck to everyone else currently claiming!


Martin, you are a genius and deserve a knighthood for your outstanding contribitions to society. Kylie got an MBE or OBE whatever it was, and she hasnt even done anything to deserve it! :money:

dondon1979

I sent a template letter to barclays to claim PPI for a loan I have. I cancelled the Insurance a few months ago and only had been paying it for 8 months but this still totalled to £900. They sent a letter back saying that as the agreement was signed that they would not pay me. They also enclosed a copy of what I signed. My letter explained that I was not expalined the full details of the PPI and felt that I was pushed into taking it.

Is there anyway I can carry this on with the hope of getting any money back?