PPI Reclaiming successes and failures

KINDER21

ppi success barclays loan

sent first letter in september and was told that it was not miss sold and if iwas not happy with this reply then go to FOS or FSA so i went to the FOS wrote to them middle of october and got a reply 2weeks later saying that they would deal with my complaint as son as possible as they were dealing with a high number of these complaints, got a leeter on the 15 dec telling me that the banks were willing to repay all payments including all charges and 8% interest up to the date of settlement plus also loan would be recalculated to reflect what it would have been had i not taken out the ppi.

now just waiting to get a letter of barclays to see how much i get back will keep you posted

magpies122

After using Martins template letter to Abbey to reclaim ppi, I received a cheque last week for £968.00.

Martin...I could'nt have done it without you.

Thank you and your team so much.

lemonhead_4

I emailed my catalogue yesterday with the template of the letter pasted on, i got a reply, and they have just cancelled the PPI, but have not done anything else, they have not even mentioned anything said as to charges coming back to me, i will however send another email and ask again

newreclaimer

Hi,
I applied to HSBC for a refund of my PPI on a £5000 loan. It was only taken out at the start of 2007 so the refund wasnt going to be too much.
I received the standard reply saying it wasnt mis-sold so eventually wrote to FOS who intervened and obviously told the bank to cancel because I received a letter from the same person at the HSBC saying that now they had decided it had been mis-sold so were refunding it.
Now, the letter stated I would get £288.14 back but Im having trouble working out if they have actually refunded it.
I went into the branch and signed the appropriate forms and they said it would all be sorted out in my account that day.
Well they did some transactions which were these :
Loan capital - £4630 cr
Loan repayment - £5974.60 dr
Loan Protection - £928.24 cr
Advised - £6.03 cr
Advised - £410.33 cr.

Theyve now restructured the loan without the PPI.

From my calculations the credits equal the debits so where is the refund of £288.14? Am I missing something?

Can anybody help? Cant get to the bank till next week so thought Id ask on here to see if anybody can work it out.

Thanks for your help.

Littleluc21

I have a loan out with the Bank of Scotland. Desperate to cancel my PPI - anyone know if this can be done? I took this loan out last April over the phone for three years, have never claimed on it and am dying to save some money each month! I am not interested in getting a refund (although sales guy very pushy) just simply want to take off the ridiculously high PPI payment charge!

Thanks

xxx

Lisakx

LittleLuc it might be worth trying for the sake of a couple of stamps. As for cancelling I just sent the letter so I'll let you know what happens, I'm with Barclays though.

kerrym_2

Hello,

I took out a bank loan for a new car for £15000 in March 2006 spread over 8 years (for the lower monthly repayments). The sales lady asked me if I wanted to take out the protection plan on the loan as it would cover the loan for any medical issues or for unemployment. At this point no questions were asked regarding past medical issues for myself, and the loan was arranged with no problems.

At the time I took the loan out, I was in a full time job, and thought everything was going ok. I made a claim on the PPI in September 2007 due to having difficulties at work because of sickness and eventually having to resign. Because of this, I contacted HSBC to make a claim, and had my GP fill in the relevant forms I had been sent to complete my claim.

I had been in a serious car accident as a passenger in October 2004, and have continuing problems as a result. When I took the loan out, I was not asked about any previous medical issues, so when I made the claim, it was rejected as the PPI did not cover any previous medical conditions.

I contested this decision through the Financial Ombudsman, and they took the details of my case, and filed the complaint to HSBC head office.

I received my first letter from HSBC customer service, making me an offer to settle my complaint of just over £1000. This amount was the total I had paid for the PPI, on top of my loan, and it was costing £80 per month for something I ultimately could never actually claim on!! :mad:

I received a letter saying that a new loan would need to be arranged, without the PPI, and so I went to my local bank and arranged this.
The new loan needed to cover £13500 (the remainder of the initial loan) and needed to be over the remainder of duration of the initial loan, meaning it had to be over 79 months (6.5 years). A problem arose on the HSBC system whereby only a loan of £15000 and above could be taken over this time, meaning I had to take a new loan of £15000 when I only needed £13500!!

The advisor I was dealing with at the bank, contacted the customer service department to ask what should be done. They said that due to the system setup, I could only have a loan of £15000 over the timescale needed, but would "compensate" me for this issue.
They took the details and I received a letter shortly afterwards from the customer service manager with a new offer of settlement which was £3000. This was the previous offer of £1000+ and also the difference, including interest, between the amount I actually owed on the original loan, and the new loan I had to take out.

I accepted this offer, and the money was back in my account within a week of receiving the offer.

I am very grateful for the information given on this site, and my new year has started very promisingly.

Thankyou

soontobesensible

:T :T :T A massive thanks once again to Martin and everyone who posted on the PPI site. For the cost of two 1st class stamps I am now £2900 richer. I was mis-sold a £7500 single premium policy by First Plus. I settled early and had £1800 back and in addition to this I have now been awarded £2900. In my experience it was worth taking that first difficult step and posting a letter to reclaim! xxx

sharon_currie

Hi can anyone please tell me if I should write to the loan company or the insurance provider? I have asked this question before but have had no replies from anyone so could SOMEONE PLEASE HELP!! Thanks in advance.

lemonhead_4

soontobesensible wrote: »

:T :T :T A massive thanks once again to Martin and everyone who posted on the PPI site. For the cost of two 1st class stamps I am now £2900 richer. I was mis-sold a £7500 single premium policy by First Plus. I settled early and had £1800 back and in addition to this I have now been awarded £2900. In my experience it was worth taking that first difficult step and posting a letter to reclaim! xxx

I woundered if you can help, i also had a loan but with nemo, it was a loan of £50000, when i came to pay it off a year later they added 13000 for a single policy, so i had to pay £63000 in total even though i never used the PPI, any chance you could give me a copy of the letter you sent as i dont know how to word it. thanks