PPI Reclaiming successes and failures

Foreverhoping

• What were you reclaiming: Four Loans
• Who was the provider: Lloyds
• How much did you get back: enough to pay off the remaining loan amount
• Did you get it back after a letter or did you go to the Financial Ombudsman: phone call to record details, numerous extra phone calls and emails
• And then write your brief reclaim tale

Reason for reclaim - loan interest rate was conditional on taking out PPI. Employment status meant that PPI was not necessary. Further loans were then offered on the condition of PPI being taken out.

Started claim process early August. Should have received offer letters in early December (which did not turn up). After lots of phone calls finally received letters with an interest calc up to 9th Jan.

After much chasing including phone calls, emails etc we have finally been paid today (if 9th Jan was day 28 then we were paid on day 105 I think)

Funny thing is that we knew it was coming into our bank today as hubby got a phone call from his local branch on Friday informing him of the impending good news -so that we can book an appointment to decide how we want to invest the money !!!! Flipping cheek - trying to (mis)sell us some new products!!

Will be investing it on clearing down the loan and our credit cards and then saying bye-bye to Lloyds

Keep the faith :beer:

lately

lisani2003 wrote: »

Hi there folks,

Does anyone please know how long it is taking RBS to pay out successes ?

Thanks

Lisa

I had a Mint card with RBS and they took about a month from me sending the acceptance form.

oddziees

lately wrote: »

Take any relevant paperwork and go to your local branch and request to speak to somebody, something similar happened to me and they acted very quickly by phoning the ppi dept etc.
Good luck!

We've done that and all they want to do is ignore the PPI and sell him an ISA!!! Guess what they wanted to sell me as I told them I don't want an ISA (because I'm thinking of changing banks), can you guess? No? End of life package WHAT!!!! That's the only thing they could come up with for the hard sell.

lisani2003

lately wrote: »

I had a Mint card with RBS and they took about a month from me sending the acceptance form.

Thanks for you reply

earnitspendit

Just to let you know that my mum received a letter from HSBC today upholding ppi claim and telling her she will get just short of £4000 back, and she only claimed because I nagged her to do it, so come on people if you still haven't done it, get going, don't use a claim company you can do it yourself there is lots of excellent help and advice on here and some lovely forum members who are always happy to offer assistance. Have a good week everyone :j

veryhappychappy

flymetothemoon wrote: »

Just wondering how long it took MBNA to sort out your claim from the date you wrote to or rang them?

Difficult to be 100% sure, but i think I had a letter from them within a fortnight (I sort of ignored it, because I was also reclaiming from Nat West, and they were proving difficult), I then recieved a second letter asking me to phone them to clarify details, so around 3-4 weeks initially, then about 3 weeks from the phone call to the offer letter.

Now, back to Nat West........

Oh, yes, HMRC will be getting their chunk (after I have my chunk back from them

VHC, aka Sean

amersall

dai1927 wrote: »

I have put in 3 ppi complaints and was looking for advice wether you feel they are likely to be won.

I put a complaint against Halifax tppm on the grounds that i thought i had to have it and thought it was part of the mortgages procedure to have it and also that i was not told i could have shopped around for a cheaper quote etc.

I also put a complaint against First plus, i took out a loan in 2003 and said i was pressured into having ppi as it would help my application, although im not sure they did but its my word against them, but would they still hold the telephone recording from this time.

I also complained to HSBC i had 3 loans but apparently only one had ppi, and i had ppi on a credit card that i did not know i had and it has now been removed though not by me, so i have asked them who opened and closed the ppi on my credit card that i have had since 1998 til present and for them to take into account any other ppi on any other loan.

Do you think any of these will be upheld with the reasons i have given?

There will be no recording where you are told that this PPI only covers you for 5 years but it is still on the loan to term end with interest, or that you will get the full PPI back after 5 years but it will still be on the loan to term end with interest and you are no longer covered by the PPI, a recording like this does not exist.

Had customers known this, then i am afraid no one would have taken this PPI.

It is possible you were made to take this PPI, they used every tactic in the book to sell this product, I and hundreds of other customers were taken in by the "carrot on a stick" that was the PPI cash back, but not told the full cost of this PPI to term end and no cover after 5 years.
See what reply you get from FP and take it from there. the reasons in the letter are all you need for this PPI to be mis sold
they may come back and say it was done through a broker due to the year, if they do, and you get the name of the broker, then put this letter into them.



We/I believe we were mis sold the ppi on the above account number,and would like recordings,if any to the contrary of my/our reasons for mis sell set out below.

1)We/I were not told that the ppi was in effect another loan that was added to the original loan and was repayable over the loan term with interest.

2) We/I were told that the ppi was a 5 year policy, but not told the ppi would still be on the loan to term end with interest.

3) We/I were told that if we did not make a claim,or go into arrears on the ppi ,after 5 years we would receive the cashback of ppi but were not told this would not include the interest made on these payments that we paid over the 5 years.

In line with the FOS recommendations it is requested that the overall situation be restored as if PPI had never been included. This will entail:
A refund of the monthly payments that have actually been paid towards the overall loan in excess of those that would have been needed, if the original loan had been sold without the PPI policy.

In addition, interest at the rate of 8% simple per annum to any excess payments made from the time each payment was made to the point that Barclays pays them back to us. We/i believe we were not given enough information on this ppi to make an informed decision. Had we/i known the full cost of this ppi we would not have taken it.

Unless you can prove without doubt that this PPI policy was fair, reasonable and suitable for my/our circumstances we/I will require you to rearrange the loan as if PPI had never been included on the above loan

di3004

earnitspendit wrote: »

Just to let you know that my mum received a letter from HSBC today upholding ppi claim and telling her she will get just short of £4000 back, and she only claimed because I nagged her to do it, so come on people if you still haven't done it, get going, don't use a claim company you can do it yourself there is lots of excellent help and advice on here and some lovely forum members who are always happy to offer assistance. Have a good week everyone :j

Excellent! Congratulations!:beer:
Bet your mum is glad you nagged her now lol.:D Well done!

di3004

Foreverhoping wrote: »

• What were you reclaiming: Four Loans
• Who was the provider: Lloyds
• How much did you get back: enough to pay off the remaining loan amount
• Did you get it back after a letter or did you go to the Financial Ombudsman: phone call to record details, numerous extra phone calls and emails
• And then write your brief reclaim tale

Reason for reclaim - loan interest rate was conditional on taking out PPI. Employment status meant that PPI was not necessary. Further loans were then offered on the condition of PPI being taken out.

Started claim process early August. Should have received offer letters in early December (which did not turn up). After lots of phone calls finally received letters with an interest calc up to 9th Jan.

After much chasing including phone calls, emails etc we have finally been paid today (if 9th Jan was day 28 then we were paid on day 105 I think)

Funny thing is that we knew it was coming into our bank today as hubby got a phone call from his local branch on Friday informing him of the impending good news -so that we can book an appointment to decide how we want to invest the money !!!! Flipping cheek - trying to (mis)sell us some new products!!

Will be investing it on clearing down the loan and our credit cards and then saying bye-bye to Lloyds

Keep the faith :beer:

Brilliant! Congratulations!:beer:

di3004

lisani2003 wrote: »

Hi there folks,

Does anyone please know how long it is taking RBS to pay out successes ?

Thanks

Lisa

Hi Lisa

I've not had any dealings with RBS myself, but give them say 28 days (one month) if nothing received by then - chase them up.

Good luck.