PPI Reclaiming successes and failures

Annaeliz

Hi Everyone, I have never posted on this forum, but as my partner has had a successful PPI claim I just wanted to share it with you, we were really apprehensive about claiming and it was reading stories on this site which convinced us!

What were you reclaiming: Secured loan PPI
Who was the provider: Welcome Finance
How much did you get back: £6278.62 (!)
Did you get it back after a letter or did you go to the Financial Ombudsman: We had a letter from the FSCS saying we may be elligable for a refund and they sent a form to fill in.


My partner took out this loan in 2004 (despite my protests by we had only just met so I didn't have much say :rotfl:). The loan was for £20k:eek: and In my opinion I don't think he ever should have been sold it as he lived in a flat worth £40k with a 100% mortgage already on it, so no way of securing it, but they gave it him and we have suffered ever since!

The amount has been taken off the loan amount which mean we now owe £9k (horrific still I know but a lot better than £20K!) so we are keeping everything crossed that next year when I graduate from uni we can remortgage and pay it off altogether!

So pleased that we claimed!:j

di3004

Annaeliz wrote: »

Hi Everyone, I have never posted on this forum, but as my partner has had a successful PPI claim I just wanted to share it with you, we were really apprehensive about claiming and it was reading stories on this site which convinced us!

What were you reclaiming: Secured loan PPI
Who was the provider: Welcome Finance
How much did you get back: £6278.62 (!)
Did you get it back after a letter or did you go to the Financial Ombudsman: We had a letter from the FSCS saying we may be elligable for a refund and they sent a form to fill in.


My partner took out this loan in 2004 (despite my protests by we had only just met so I didn't have much say :rotfl:). The loan was for £20k:eek: and In my opinion I don't think he ever should have been sold it as he lived in a flat worth £40k with a 100% mortgage already on it, so no way of securing it, but they gave it him and we have suffered ever since!

The amount has been taken off the loan amount which mean we now owe £9k (horrific still I know but a lot better than £20K!) so we are keeping everything crossed that next year when I graduate from uni we can remortgage and pay it off altogether!

So pleased that we claimed!:j

Very pleased for you! Congratulations!:beer:

maz1411

di3004 wrote: »

Hi there

Yes you can, go for it, good luck.;)

thanks very much gonna have a good search for more ..... I'm sure there will be plenty!!!

di3004

maz1411 wrote: »

thanks very much gonna have a good search for more ..... I'm sure there will be plenty!!!

Good for you, and as long as you have the account number then that's a help in order for you to start your reclaiming.;)

amersall

Sucina wrote: »

Hi

Had my letter today upholding my complaint and agreeing to refund.


I am not 100% on figures if anyone has a better idea.

Quick points

Front loaded PPI

£1158.30 payments refunded
£527.33 8% stat interest refunded

Total £1685.63

Excess balance when refinanced the loan in 2008 as would have been lower.

£555.61

TOTAL

£2241.24


No mention of the Apr interest that I was paying at 11%????

Interest etc calculated until 26th March.


So

Should the payments have been calculated to include the APR
Ie payments XAPR X8%?

Also if teh payment has not been received by 26th can I send the court letter at that point with 14 days notice, I am not waiting months for my money!

Any help would be great :beer:

The interest for the ppi is included in the monthly payments you made, they have given you these back.

maz1411

found an egg loan taken out in december 2004, think I will give this ago too

toni66

Well done everyone for winning, im hoping to win my claim against Nationwide, next week will be 5 weeks, im keeping everything crossed x

Toni

adsmum

Happy to say received a letter today from the Yorkshire Bank today complaint upheld PPI repaid + interest of £1,700 :j Also thanks for the advice given on here

di3004

adsmum wrote: »

Happy to say received a letter today from the Yorkshire Bank today complaint upheld PPI repaid + interest of £1,700 :j Also thanks for the advice given on here

Wonderful! Congratulations!:beer:

themass

Hi folk (nice to see Di back) can anyone tell me how the fos and fscs differ in dealing with claims, mine is with or was with Norton one of those front loaded jobbies which cost us nearly 8k it was with the fos now being dealt with by the fscs i have been told they differ in the way claims are dealt with
Ste