PPI Reclaiming successes and failures

pinknico

Congratulations to all those who have had successes so far and heres to many more!

plintern

In February 2006 I took out a car loan from Alliance and Leicester, over the internet. The rate was 5.9% which was very good at that time. When I received the paperwork in the post, I realised that PPI had been added to the loan amount, to the sum of £2,263, on top of the capital amount. This was to be spread over the 5 year loan term.

I therefore contacted Alliance & Leicester and asked why the PPI had been included, as I had not requested it when I had applied over the Internet. I was informed that to achieve the 5.9% interest rate, PPI had to be taken. In order to obtain the 5.9% rate, I agreed and the loan has continued to be serviced since that time.

In October 2008, after seeing information about PPI misselling on the moneysavingexpert.com site and in the press about FSA financial penalties imposed on Alliance & Leicester, I used the template letters to write to Alliance & Leicester to request repayment of my PPI premiums plus interest, as I believed I had been misold the PPI insurance for my loan.

I did not receive an initial reply until December 2008 and then again in January 2009 to say that matters were 'progressing'.

However, in a letter dated 28/1/09 (not received until 10/2/09) Alliance and Leicester made an offer of repayment of PPI premiums to date, amounting to £1,480 plus interest of £172 giving a total of £1,652. I have accepted this amount but to date have not received the cheque as they say it will take 28 days for the cheque to be issued.

My existing car loan has been cancelled and a new loan opened for the remaining balance of the capital less PPI premiums for the remaining term and the monthly repayments have decreased.

Overall a success. Without MoneySavingExpert.com I probably would not have undertaken to try and reclaim the PPI premiums.

I cannot end this without giving credit (no pun intended) to the PPI team at Alliance and Leicester. They have dealt with the issue in a professional manner. They have sought to put me back to a position of 'status quo anti' and are repaying the PPI premiums, as should have been the case in 2006 when the loan was initially taken out. I cannot fault their customer service in this regard.

If anybody feels they have been misold PPI, I woudl urge them to write to the organisation concerned to discuss how the matter can be resolved.

Peter Lintern

di3004

plintern wrote: »

In February 2006 I took out a car loan from Alliance and Leicester, over the internet. The rate was 5.9% which was very good at that time. When I received the paperwork in the post, I realised that PPI had been added to the loan amount, to the sum of £2,263, on top of the capital amount. This was to be spread over the 5 year loan term.

I therefore contacted Alliance & Leicester and asked why the PPI had been included, as I had not requested it when I had applied over the Internet. I was informed that to achieve the 5.9% interest rate, PPI had to be taken. In order to obtain the 5.9% rate, I agreed and the loan has continued to be serviced since that time.

In October 2008, after seeing information about PPI misselling on the moneysavingexpert.com site and in the press about FSA financial penalties imposed on Alliance & Leicester, I used the template letters to write to Alliance & Leicester to request repayment of my PPI premiums plus interest, as I believed I had been misold the PPI insurance for my loan.

I did not receive an initial reply until December 2008 and then again in January 2009 to say that matters were 'progressing'.

However, in a letter dated 28/1/09 (not received until 10/2/09) Alliance and Leicester made an offer of repayment of PPI premiums to date, amounting to £1,480 plus interest of £172 giving a total of £1,652. I have accepted this amount but to date have not received the cheque as they say it will take 28 days for the cheque to be issued.

My existing car loan has been cancelled and a new loan opened for the remaining balance of the capital less PPI premiums for the remaining term and the monthly repayments have decreased.

Overall a success. Without MoneySavingExpert.com I probably would not have undertaken to try and reclaim the PPI premiums.

I cannot end this without giving credit (no pun intended) to the PPI team at Alliance and Leicester. They have dealt with the issue in a professional manner. They have sought to put me back to a position of 'status quo anti' and are repaying the PPI premiums, as should have been the case in 2006 when the loan was initially taken out. I cannot fault their customer service in this regard.

If anybody feels they have been misold PPI, I woudl urge them to write to the organisation concerned to discuss how the matter can be resolved.

Peter Lintern

Hi Peter

Well done to you :beer: :T :beer: , great work and this will also give others hope as well, so cheers so much for sharing your successful news with us.:T Congratulations.:beer:

Di
X

Aztecsilver

Alliance and Leicester wrote to me two weeks ago about being sold PPI with my loan (now paid off) 2 1/2 years ago. I had thought until then that I was just foolish in being encouraged to take the PPI and never having considered that I had been falsely sold as like many people out their I'm hard working, have a good credit rated and have a secure job. Turned out that because I had life insurance and a way to pay off the loan, something I wasn't asked about at all, I had been falsely sold.
I am now waiting for a payment of just short of £500, will let you know when I get it.

di3004

Aztecsilver wrote: »

Alliance and Leicester wrote to me two weeks ago about being sold PPI with my loan (now paid off) 2 1/2 years ago. I had thought until then that I was just foolish in being encouraged to take the PPI and never having considered that I had been falsely sold as like many people out their I'm hard working, have a good credit rated and have a secure job. Turned out that because I had life insurance and a way to pay off the loan, something I wasn't asked about at all, I had been falsely sold.
I am now waiting for a payment of just short of £500, will let you know when I get it.

Brilliant, well done and congratulations.:T :beer: :T :beer: Great news !

Di
X

billy_the_kid_2

Just got the letter back today, I have claimed for PPI on a personal loan taken out by my wife with Alliance and Leicester. A&L have settled after the first template letter with no fuss.

my other half is now 980quid better off.

Would highly recommed anyone waivering about making a claim to do so. All its taken is one stamp and a bit of time composing the letter.

Many thanks Martin.

Bill

maxdp

billy_the_kid wrote: »

Just got the letter back today, I have claimed for PPI on a personal loan taken out by my wife with Alliance and Leicester. A&L have settled after the first template letter with no fuss.

my other half is now 980quid better off.

Would highly recommed anyone waivering about making a claim to do so. All its taken is one stamp and a bit of time composing the letter.

Many thanks Martin.

Bill

Well done Billy. I am really pleased for you and your wife that was a result.:beer:

veryhappykat

HELLO I AM VERY NEW TO THIS - I HAVE BEEN READING FORUMS FOR A LONG TIME BUT NEVER ADDED TO ONE BUT IM SO GRATEFUL TO MARTIN LEWIS THAT I JUST HAD TO!!

I SENT OFF A LETTER TO A&L FOR MY LOAN WITH THEM AND MY PARTNER ALSO HAS A LOAN. AFTER ONE LETTER I HAVE RECEIVED £620 BACK AND MY PARTNER HAS RECEIVED £806!!! IM SO PLEASED!! MARTIN LEWIS IS A LEGEND!

I ALSO HAVE A LOAN WITH HOME SHOPPING PERSONAL FINANCE - HAS ANYONE ELSE TRIED TO CLAIM FROM THEM. I SENT A LETTER OFF A MONTH AGO BUT HAVE HEARD NOTHING....

A VERY HAPPY KAT! X:rotfl:

di3004

veryhappykat wrote: »

HELLO I AM VERY NEW TO THIS - I HAVE BEEN READING FORUMS FOR A LONG TIME BUT NEVER ADDED TO ONE BUT IM SO GRATEFUL TO MARTIN LEWIS THAT I JUST HAD TO!!

I SENT OFF A LETTER TO A&L FOR MY LOAN WITH THEM AND MY PARTNER ALSO HAS A LOAN. AFTER ONE LETTER I HAVE RECEIVED £620 BACK AND MY PARTNER HAS RECEIVED £806!!! IM SO PLEASED!! MARTIN LEWIS IS A LEGEND!

I ALSO HAVE A LOAN WITH HOME SHOPPING PERSONAL FINANCE - HAS ANYONE ELSE TRIED TO CLAIM FROM THEM. I SENT A LETTER OFF A MONTH AGO BUT HAVE HEARD NOTHING....

A VERY HAPPY KAT! X:rotfl:

Well done KAT :j :T :beer: , fantastic news.:beer:

In regards to Home shopping personal finance, I have heard of them, hopefully someone will post up who have had dealings with them, good luck.


Di
X

effect56

hi lovely people
I am a newbie, however been reading this thread for sometime now. I sent a letter to littlewoods claiming they missold my ppi. I rec a letter back telling me really to get lost and I could not report this to fos as my policy was sold before 22/12/03 and they were not a member until that date.
Is it worth sending a 2nd letter or should I take this as a definate no.
Please help.