PPI Reclaiming successes and failures

OnexOne76

bluevan12 wrote: »

Hi, i have gone to the Ombudsman with some older loans from barclays i should
get my first update within 3 months,has anyone else had any success while going
to the Ombudsman,funnily enough now they know they have re-opened my case,
they gave me an excuse that because they were a member of the GISC,they could
not go back before 2001 and reclaim my ppi records,they also taking months to send
me my SAR,my loan started in 1996,but i was still paying it in 2006...

hi im starting my complaint to ombudsman about barclays aswell! having had rejection letter! on previous ccard, did you send covering letter with ombudsman checklist? and say any evidence of ppi (say ppi evidence paperwork)

Bigcatvictim87

Hi Guys, (Newbie)

I recently contacted Halifax to complain about mis-sold PPI as i took out a loan in 2007 for £2000 (48months) which included £430.17 (Not including interest) for PPI at an interest of 26.5%. I took a further loan out in 2008 for £3000 (60 months) which paid off the existing loan which also included £730.17 (Not including interest) for PPI at an interest rate of 21.9%. I again took out another loan later that year for £5000 (86 months) which included £2380 for PPI (not including interest) at an interest rate on 21.4% and paid off the exiting loan.

I was very young (just 18) and very desperate due to having a child of 2 yrs old and moving home twice in this time very stressful to say the least. I have matured much since this time and will never loan again.

I became wise PPI 14 months later and cancelled the PPI but rather than cancelling all i can see is that the loan period of 7 yrs was reduced to six years for a loan amount of £5572 as they said i had to clear the £5k plus interest applied.....i am very confused.

I havent a clue how much i am owed (if any) i think maybe around £1k but dont know.... i just feel i have been taken for a fool being so young and thought i may as well test the water.

I beleive i was mis-sold PPI for a few reasons one of which being i was told due to my age the risk to the bank would be greatly reduced should i take the PPI meaning i had more chance of being approved - also i am a local government employee and have been since leaving school so i have good illness benefits i.e. 6 months full 6 mounths half pay which i explained and have paerwork to prove such, i am also part of the LG pension scheme meaning should i die in service my next to kin would get quite a considerable sum. - further to this i have had a back problem since 2002.

Am i right to beleive i was mis-sold PPI or was i just a complete idiot that has paid the price and forget about it?

Is there a good template to calculate so i am not 'skinned' again should i receive an offer?

Apparently i will receive a result by April 18th at the latest i will keep you informed, i feel my chances are slim but they need to pay for there greed i have paid for mine with the colosal interest, anything received will clear the loan i have to avoid paying the 21.4% interest for the next 3 years.

I would like to add all new loans were due to me being contacted by Halifax and offer a 'new loan deal' i know it was stupid so please hold any criticisms.

Thanks

Help_Needed_3

I applied for a mortgage in 2005 with A and L, now Santander. It was a joint application with my husband. When I was in interview, the bank official said that the mortgage was 'green', meaning successful but only if I took out insurance with them. She then telephoned another member of staff who walked into the office and did not sit down which to me was very rushed. I was not offered any advice on any other products from any other companies either. I was told to take L and G Policy and Zurich Contents and buildings insurance. L and G Premium has cost £55.31 pm and Zurich £44 p.m. Also I asked L and G to send me details of policy held in joint names and they sent me an A4 page with a date in December 2005 when policy started, although we started mortgage in August 2005!!!

Santander received my correspondence in November 2011 but sent a response of 'You have not PPI' on your mortgage. Then I phoned them and a member of staff said that she would send me a questionnaire to complete and return. They have requested and received details of L and G Policy and I phoned twice last week to be told that a case handler is dealing with my case.

I have posted to another part of the forum but have not received any responses. Sorry but new to forum and am very eager to get feedback from anyone who can help!!!!

bluevan12

onexone76, i had to fill out a questionaire for the Ombudsman,and give them as much
info as possible,i did have some really old loans too from 1992,with all paper work,PPI
calculations,credit agrement etc,there excuse was they became a member of the GISC
in 2001,so they can not get any records before that date,,( well i just reminded them that
they were also a member of the financial banking of the ombudsman in 1992 lol,they have
now reopened my case)..But iam still letting the Ombudsman take over just to be sure..

[Deleted User]

Bigcatvictim87 wrote: »

I recently contacted Halifax to complain about mis-sold PPI as i took out a loan in 2007 for £2000 (48months) which included £430.17 (Not including interest) for PPI at an interest of 26.5%. I took a further loan out in 2008 for £3000 (60 months) which paid off the existing loan which also included £730.17 (Not including interest) for PPI at an interest rate of 21.9%. I again took out another loan later that year for £5000 (86 months) which included £2380 for PPI (not including interest) at an interest rate on 21.4% and paid off the exiting loan......

Sounds like you have a good case, especially as the loans were "front loaded" with PPI (meaning you paid interest on the insurance cost).
Any offer of redress will be accompanied by a breakdown of how the bank have worked it out. Basically, it's a refund of all monies paid for the insurance plus 8% interest.

[Deleted User]

Bigcatvictim87 wrote: »

Is there a good template to calculate so i am not 'skinned' again should i receive an offer?

Best to wait until you receive an offer and then ask here if you are still in doubt.
Remember, most of us here were also "idiots" who were persuaded to take out expensive insurance "protection", so no need to denigrate yourself in that manner.;)

[Deleted User]

Help_Needed wrote: »

Santander received my correspondence in November 2011 but sent a response of 'You have not PPI' on your mortgage. Then I phoned them and a member of staff said that she would send me a questionnaire to complete and return. They have requested and received details of L and G Policy and I phoned twice last week to be told that a case handler is dealing with my case.

I have posted to another part of the forum but have not received any responses. Sorry but new to forum and am very eager to get feedback from anyone who can help!!!!

I think it best for you to see what Santander's next response is. Remember, this is largely a waiting game and sometimes no news is good news. The banks are currently snowed under with PPI mis-selling complaints and have eight weeks from the date of the questionnaire in which to reply.

Did you query the date discrepancy of L&G's policy with the start your mortgage? Have you any evidence (statements etc) that you have actually been paying the insurance? It does seem odd that that policy is dated December 2005 when your mortgage started in the August. Where you perhaps given a "payment holiday" for the first few months after you took your mortgage? (I'm just guessing here, you'll have to investigate yourself)

I'm sorry no one else has responded to you, but it's probably because there is little that can be done until Santander respond to your complaint.

Help_Needed_3

Still finding my way here!! Thanks for your response. I actually decided to put info. on another thread, and received two responses. Both v negative. Thanks for your more calming attitude. Will await a response from Santander. Hopefully something positive.

terence13

Hi
Looking for a wee bit advice

I sent away a FOS questionnaire to Sainsbury's bank a fortnight ago recorded delivery. Have not received a letter to say that they have received this (sent to Sainsbury's and not BOS). Is this normal or should I send away again - to BOS.

Emailed Bob Diamond on Wednesday about the delaying tactics by Barclaycard and have not heard anything back. Is it too soon to expect a reply or should I send another email

Help_Needed_3

I had not noticed that my L and G Insurance Policy had started 4 months after start of mortgage...... It was a bank official who thought that it was strange. There was no break given at start of mortgage. My point of missold claim is because of different mistakes made by the bank when I had mortgage agreed.

Hopefully now that Santander have all info. I will get a response v soon.