PPI Reclaiming successes and failures

missycat26

Thanks very much for your help. The PPI was added as a lump sum up front as a payment protection premium and then the interest was added to the loan and PPI. The exact words of the letter read :- We regret that we are unable to comply with your request because we can only cancel the repayment protection if the entire loan is settled. The insurance is an integral part of the contract you have entered into with us. It states that I did have the option to cancel the PPI at the time of the loan as per the cancellation.

Any advise would be welcomed.

dilus

missycat26 wrote: »

Thanks very much for your help. The PPI was added as a lump sum up front as a payment protection premium and then the interest was added to the loan and PPI. The exact words of the letter read :- We regret that we are unable to comply with your request because we can only cancel the repayment protection if the entire loan is settled. The insurance is an integral part of the contract you have entered into with us. It states that I did have the option to cancel the PPI at the time of the loan as per the cancellation.

Any advise would be welcomed.

It states that I did have the option to cancel the PPI at the time of the loan as per the cancellation.

From that I read that you could have cancelled the PPI shortly after taking out the loan but only if you settled the loan in full.
The fact that it was upfront PPI is a good enough reason to complain and is very difficult for them to turn down this complaint.
If dunstonh or magpiecottage are about they would probably be able to shed a legal view on it and advise better, hang fire and see if either come back with their views

di3004

Well done and Congratulations to all winners! :T:beer::j

sams_dad

bluedido wrote: »

• What were you reclaiming: Credit Card
• Who was the provider: Goldfish / Barclaycard
• How much did you get back: £79,044.22
• And then write your brief reclaim tale :

I have had this credit card for about 14 yrs and have always had a reasonbly high balance on it. It was only when I got behind with my payments, that I had to ask my Father for help and he noticed I was paying PPI . We enquired with a couple of these companies that work on your behalf , but as soon as we realised they take 20 - 25% of your refund we decided to contact the ombudsman direct.

I was lucky enough to have put my claim in early and fell into the bracket of people that Barclaycard decided to pay out - no quibble

I put my claim in at the end of March - rec'vd my offer letter on 30.08.11, and they rec'vd my acceptance on 09.09.11.

After many phone calls, and getting nowhere I decided to e-mail the CEO and within a couple of days, someone called me back
She couldn't have been more helpful, and agreed to chase this up for me.

I have been paid out today, so it has taken a whopping 12 weeks + 3 days since they rec'vd my accpetance - but well worth it.

Not only am I now debt free, but we now have a substantial deposit to buy a house

Life changing is an understament!!


Good Luck everyone else

:rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl::rotfl:

wow and i thought mine was good at £13k fantastic hope mine comes good with goldfish/ barclaycard

Skint_again

Many thanks MoneySavingExpert for your guidance,I had 2 claims to make. Egg paid up £400 when I sent your template letter ( this was on a loan). It was no surprise that I had to go to the Ombudsman with my claim against Lombard ( RBS ) but last week they finally repaid £5,500, this has cleared the balance on a loan from them, given me a cheque for £2000 and cleared all my debts 7 months early.
Would also like to give heartfelt thanks to the C.C.C.S.who have supported me through the last 7 years

Skint_again

Hello Missycat26, my experience of Lombard was the same as yours, I tried to cancel the PPI (which was added at the start and the interest out on top) but they would not let me. I eventually claimed from Lombard although it was R.B.S. who eventually paid out.I had to use the template form for the Ombudsman as Lombard tried to give me the brush off,
Good luck

LivingstonLoyal

Hi all, I complained to Halifax on 20 October regarding PPI on 2 loans that I had taken out in the past 8 years, both loans were quite small (each 5k) I recieved a letter from Halifax on November 3rd stating that they had recieved my letter and that they were looking into it, I recieved an offer on November 22 for £2300 with interest until December 20th, Just waiting on my cheques coming in now!, so far the process has went quite fast, Hopefully get the monet before Christmas

This site gave me the kick up the !!! to complain!! Thanks!!

kerso173

Ok really need help now..My sixteen week came and went last wednesday. They still have no response. Can anyone tell me am i entitled to anything and what is my next move to speed this process up? Whats the point of a deadline and them not sticking to it.

Sophieh_2

Topkapi wrote: »

Hi Sophieh

Perhaps we should start a new thread with who has waited the longest for their payout after they have posted their acceptance letter. Name and shame the bank concerned (if it is possible to shame them). Posted my acceptance letter to RBS on 27th Aug having started my claim in August LAST year. They received it on 2nd Sept. Am waiting for £22,000. Still waiting despite so many promises. Anyone waiting longer than this after acceptance?

I quite agree, they SHOULD be named & shamed! I actually finally got my settlement calcs when I got home last night, no idea why they choose to send these out bloody 2nd class, surely in their best interest to hurry up & pay out or they have to pay you more interest!! Have scanned & emailed the acceptance this morning & sending the original by special delivery. They state takes up to 14 working days for payment to go through though, which using today as day 1 would take me up to 23rd Dec - cutting it too fine for xmas! Watch this space, will report back on payment receipt! Good luck with yours, keep on at them, it is YOUR money after all! :cool:

tifo

I complained to Barclaycard for a Goldfish account on 14 July 2011 and do date no reply or offer for the PPI.

They rejected a refund of default charges and that's gone to the FOS.