PPI Reclaiming successes and failures

tyadog

Dilus, it feels amazing! :j I have been unable to believe the amount being repayed. I thought if I was lucky enough to reclaim anything it would be a small amount. I couldn't actually let myself believe it was real until I had the cheque in hand as it were, and didn't post here until now for that very reason.

Off to spruce myself up and go to the bank to pay it in, luckily my branch is open on a Saturday

Again, many, many thanks to all on here.

T

orpheusinvelvet

What were you reclaiming: Loan PPI for a loan in 2006
Who was the provider: HSBC
How much did you get back: £706 - asked for the repayment of the £480 ish PPI payment but the offer had the interest added
Did you get it back after a letter or did you go to the Financial Ombudsman: Filled out and sent of the PPI consumer questionnaire from this website with a covering letter to HSBC.
The claim was sent in and - apart from a standard reply letter and a holding letter last week the only communication has been this offer - a month after the initial complaint was filed! Very fast no quibbles reply from HSBC. The claim was made on the basis that the PPI was offered and taken up even though the job (that my partner was in at the time - as this claim was made by him) offered sickness and redundancy pay. The form was filled out very minimally. It took no work at all. Thanks Martin!

dilus

tyadog wrote: »

Dilus, it feels amazing! :j I have been unable to believe the amount being repayed. I thought if I was lucky enough to reclaim anything it would be a small amount. I couldn't actually let myself believe it was real until I had the cheque in hand as it were, and didn't post here until now for that very reason.

Off to spruce myself up and go to the bank to pay it in, luckily my branch is open on a Saturday

Again, many, many thanks to all on here.

T

Love a great result enjoy and you're welcome :beer:

amersall

pwppio wrote: »

We took out a loan in 2006 with ppi and after six months received a letter from the lender to say that they were very sorry but they failed to provide us with the key facts prior to completing the loan.
We didnt understand what it all meant to be honest, but if we were not provided with all the key facts is this good grounds to reclaim our ppi?

Did they just say "sorry", and what were the key facts about the loan that they did not give you?.

amersall

teleop wrote: »

Can someone tell me if this loan is classed as a front loaded one.
Cash Loan £9000
Total charge for credit for cash loan £3661 44
Total ammount for cash loan £12661 44
Insurance loan(cash price for ins.)£2432 24
Add Total charge for credit for ins.loan £989 20
Total ammount you pay for ins loan £3421 44
You have to pay the loan and interest by 66 monthly payments of £243 68

Annual percentage Rate 12.9%
Monthly interest rate 1.019%
Total loan £11432 24
Total charge for credit for total loan £4650 64
Total ammount you pay £16082 88

This is exactly how my loan agreement reads . I took this out 2004 & it was paid off 2010. As i said above is this what they call front loaded or single premium . If so & i was to be lucky enough for it to be upheld does anyone know what i would be looking at as a redress. Thankyou i know there are people on here that understand the complexes of these loans. Thanks .

This is front loaded, you have a claim with this.
You will get back the ppi and the interest on this, you will then get the 8%, this is on a decreasing scale for each month that you paid the ppi to the date of redress.

Look here for other reasons for mis sell too
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step2
Put all that apply to you, front loaded is the main one.
Some banks do claims over the phone, you could ring and ask.

amersall

Marie67 wrote: »

Hi All, new to this so hope i'm doing this right :-))

I got a letter from MBNA to say that my claim for my Loan PPi had been upheld in my favour and I would hear from them within 6 weeks. Letter was dated 10th January(received it 16th Jan). I heard nothing!! Is this the norm? Am I awaiting an offer letter or just a cheque?
It was for a £5000 loan over 5yrs which I have already paid off.

I'd really like some advice, thanks.

They are only a few days over the 6 weeks, give them a few more days and if you still have not heard anything then give them a ring.
You could get the offer and a cheque, hopefully someone who has a refund from these will post to let you know what happens.

amersall

dilus wrote: »

Hi teleop, yes this is front loaded and if upheld, which it should be, you will get back ALL PPI paid £2432 24 + the interest on the PPI £989 20 + 8% standard interest (which has to be worked out on a spread sheet using a formula) haven't got time to do it for you tonight as going out but off the top of my head going by previous calculations I have done about £900

So approx £4,300

Sorry did not realise you had already replied to this ::cool:

amersall

Now - i know i had a load from them in 2000ish from Barclays - i have no idea how much (exactly), nor if PPI was on it - so where do i start with this one Plus i had a Barclay Card for a while too...

Ring them and ask if they hold details for the previous loan and CC.
if they don't then you will have to SAR them
https://forums.moneysavingexpert.com/discussion/1475553

Enclose £10 and give them 40 days to get this info.

amersall

lunch12345 wrote: »

Can I ask a bit of help please.
I just received a rejection from Egg for PPI on a CC which I (have been informed) was purchased on line in Aug 2004.
They state it's their final response and reject due to :
the online process does not require PPI as a condition
does not provide an advisory service
not pre-ticked
provides full t&C's
Is it worth a phone call for Egg to re-consider or straight to FOS?
In Aug 2004 (and even now) i was in full time employment with very generous benefits ( 6 months full pay/6 months half pay for sickness/ 4 years salary death in service)
Very grateful for comments
Cheers

I would take this to FOS, Egg may not deal with you know regarding this and you would be wasting time contacting them.

kirstym1

hiya does anyone know the address I need to send a claim to Virgin Money?