PPI Reclaiming successes and failures

happyhappyy

THANK YOU THANK YOU THANK YOU.
After seeing Martin on a tv show talking about missold PPI, i went to investigate a loan for £3,500 I had taken out over 7 years ago, a loan I was still paying for at the time, after consolidating the loan on several occassions over the years, so that I wouldnt default on the payments!
So I went to the bank. Was not really given the time of day from my local HSBC branch and asked why I had asked for my loan history, saying I would have to pay £10 per document I wanted. So I said "thats fine I would like a full history of my loans (as each consolidation classed as a new loasn I believe!!?) and a copy of each signed agreement". I was called 4 times that day by my branch manager, asking why I wanted them. It was becoming rather uncomfortable to say the least, but I stuck to my guns!

Within a week, I had recieved only one of the agreements, with a letter from my local branch saying that they could not find my other documents, stating that it's so far back that they would have to go into storage to find them- so again I insisted that I had a right to my documents. True enough the documents came, and I could see that I had paid for PPI all these years, and suprise suprise, no charge for the documents.
When I took out the loan, I was in a full time job with a fixed term contract, for 4 years, and up for renewal after 4 years, the company I worked for also paid full sick pay for 6 months and half pay thereafter- therefore, along with, not asking for it, or agreeing it purchase it at an extra cost,I believed i was missold the protection.

So, I decided to take Martins advice and come on this AMAZING website and thouroughly went through everything.
Once I got my head around it all, I gathered my documents. The pre printed template letter, that I tweeked a bit to make it a bit more personal, only a bit though!! The copy of the questionnaire, and I photocopied all the documents the bank had sent me. I sent it all off recorded delivery to the HSBC PPI reclaim department, which i got off the HSBC website, and then i waited patiently.
A letter arrived from them stating they had recieved my claim, and they would investigate my claimas soon as they could, stating that the amount of claims they had recieved were high...blah blah blah.

I sent this off in August, and by the middle of last month, i recieved a letter from HSBC stating I had been awarded with £11,400!!! I was over the moon! I thought i'd get nothing, or even if i did it would be a couple of hundred £!

I am so glad I saw the programme and that I took the time to look things up on this site, and furthermore, that I was persistant with my local branch.

The money was transfered into my account within 4 days of recieveing the letter, another shock to the system!

I then, made an appointment to go into branch to sort out my finances!!! I went in to make a final payment of my loan, that was constantly haunting me every month.

Unfortunately, whilst there I was quite rudely asked where I got the money from. I was fuming, but did tell her that it was from a PPI claim. Made me feel rather 'small' and horrible..............but looking back, i dont really care, as they were in the wrong to sell it to me in the first place!
I have now paid off my loan, which gives me an extra £300 a month into my bamk account, put money into an ISA and am going to have a wonderfull xmas with no worries!

My advice is, please go for it, please readthrough the forum comments like I did, spend time looking through the documents, do it yourself, dont give in to your bank!Good luck.

Thank you again. xx

Raid_2

I got my cheque from lloyds black horse today I'm now £16277.87 richer woohoo it's gonna be a good Christmas !

pwstewart

pwstewart wrote: »

Just received a letter from the Ombudsman today informing me that

"MBNA would like to make me an offer as a gesture of goodwill and with no admission of liability, to settle your complaint"

Im not really sure what this means exaxtly (maybe someone can help me out?!), but it seems that I have had some kind of victory over MBNA. I should let everyone know that I achieved this by sending an initial email (which was rejected by letter), and ONE further letter to The Ombudsman! Not sure yet how much i am getting back yet, but I will post as soon as I know.

Thanks MSE!

Received a letter from MBNA on 11/11/11 in forming me they were refunding the PPI payments that had been made to my account which were £474.97 plus associated interest of £65.01. Also said the cheque would be sent within the next 28 days. I received my cheque for £539.98 today (2/12/11), which just happens to be my birthday! What a great Birthday present. Thanks to MSE, I really wouldnt have done anything if it wasnt for the help and advice on here. ::D

Another couple of claims still with the Ombudsman and I will keep you posted of any outcomes.

PS I feel bad for those who have been waiting for their cheques for so long, but chin up, they will be arriving (Hopefully) soon for you all.

suarez_2

Had an offer letter from lloyds on the 18th october yet 7 WEEKS LATER no cheque.Phoned them yesterday and after the usual bull apologies and excuses of backlogs i was told it had been sent back to their calculations department to make new offer and include more interest because of the time i have waited.The problem i have with this is he could not tell me how long this would take,so it is just going back into the system as before and i suppose it will be anothe 6 weeks or so to complete:mad:.I cant email any body at lloyds because my email has an error,so who should i ring and what should i say to speed them up? They really are taking the mickey now.Any advice would be great thanks and well done to all winners to date,im sure a good xmas will be had by all:T

Pauly_1

wannapayoff wrote: »

If you don't mind me asking, how long from the phone call did natwest send an offer.. My parents called the hotline and it'll be interesting to see how long the response is likely to be... They've put in around 13 PPI claims, my dad was a) Self employed and b) made to believe it was mandatory. My mum was successful earlier in the year with lloyds for about £3.5k.. My dads account were much larger..it will be very interesting to see what happens

I phoned them on October 10th, so just under two months - was originally told to expect to hear something in January so was just sat around waiting for then, was a total bolt out of the blue when I started opening letters with figures on them

Stundun

Bit disappointing so far for me.

I won £10.38 from one Burtons card (The smaller limit one) but was rejected for the other (larger limit) due to "signing if i required account cover". This apparently proved it was made clear the cover was optional!.

Furthermore, i would then have been sent a policy summary and document, have a 30 day no quibble cancellation period (to compare other policies).

It then says as there was no requirement to record in store sales process, they have no way of knowing how it was sold, but again I would have had 30 days to cancel if unhappy.

They then said it would clearly have been shown on further statements and I could have cancelled at any time, as well as receiving revised T & C later on.

What should I do now? I honestly do not recall ever receiving a policy document, nor do I recall the sales people properly explaining it in store.

They say go to FLA as it is the final response?

Also, the credit agreement I signed were not enclosed as stated !!

How can they accept one but reject the other when the reasons are the same?

With Egg, they closed my complaint as i did not respond to their letter asking for more info. I never received that letter, and i called up and managed to get my old account number just from name and address so amazed they could "not"!

Complaint resent!!

Stundun

Also, does anyone know if Santander pay their refunds gross or net?

Its only pennies and a few pounds for the lady but I am sure HMRC will chase if it isn't paid and should be!

dilus

Stundun wrote: »

Also, does anyone know if Santander pay their refunds gross or net?

Its only pennies and a few pounds for the lady but I am sure HMRC will chase if it isn't paid and should be!

Believe it is paid GROSS Stundun so tax is payable on the 8% interest

Stundun

Finally, lol,

We received a rejection from MBNA for the other half as "box was ticked", responded straight to CEO stating not happy as the FOS states that is not a valid rejection reason, received response from Chief exec complaints who asked for info about sick pay and "other cover".

Any tips on how to response other than including that info (full sick , separate critical illness cover)?

dilus

Stundun wrote: »

Finally, lol,

We received a rejection from MBNA for the other half as "box was ticked", responded straight to CEO stating not happy as the FOS states that is not a valid rejection reason, received response from Chief exec complaints who asked for info about sick pay and "other cover".

Any tips on how to response other than including that info (full sick , separate critical illness cover)?

Mention exactly that and if you were not asked about your working situation and benefit rights/further insurance, when taking out the loan that should be enough