PPI Reclaiming successes and failures

craig_uk

What were you reclaiming: Loan
Who was the provider: HSBC
How much did you get back: Just over £5000
Did you get it back after a letter or did you go to the Financial Ombudsman: Sent in questionnaire and chase e-mail
And then write your brief reclaim tale

I took out a personal loan in 2007 to come off an existing managed loan and to buy a new car. I'd already been refused a loan 6 months previously so when I went into the branch I was advised I was more likely to be accepted if I took out PPI. Naturally needing a new car I felt I had no choice but to accept this.

I sent a questionnaire in by recorded delivery back on 6th April and sent a chase e-mail a fortnight later as I hadn't received any acknowledgement my claim had been received. A letter came through the post earlier this week advising it was being looked into, and I was expecting another month or so before hearing anything else. However, through my door today came an offer of full redress for PPI. They have used part of this to pay my final payment also honoured my repayment reward due at the end of this month. In total, I'm left with a little over £5000 after the final payment is taken off.

I really really can't stress how grateful I am to this site for helping me out. I've been meaning to reclaim for quite a few months but just thought it was too much hassle. I finally bit the bullet and sent the questionnaire in and now I'm £5k better off which will go some way to repaying some further debts and a nice holiday for myself and my partner. Acceptance letter was sent today and should be paid within 4 weeks (out of interest, anyone who has had HSBC successes before know how long it actually took for it to go in?)

The only downside is they didn't look at my old credit card or my previous personal loan automatically, but I guess beggars can't be choosers! I'll deal with those in due course I guess.

Only thing left to say is a HUGE thank you to every single person helping people out in this topic. You're all doing a fantastic job and without the advice and success stories I've read on here over the past few weeks I really wouldn't have done it!

As for anyone else thinking about reclaiming, just do it. £1.10 to send the questionnaire along with a bit of printer ink has resulted in me receiving £5,000 which would otherwise been sitting in the banker's pockets!

Overtiredmum2010

Wow! Seventh successive victory for me - this time with Abbey / Santander. Wrote on 8 March with my complaint, then heard nothing. Called them today to see whether they had received it as we had not received acknowledgement. They apologised, had not sent acknowledgment but had gone straight to final offer, which was in the post told for £1,000!

That brings my total to £32,000 in reclaimed PPI, with another £10,000 knocked off an existing loan with reduced payments by £150 per month. :j

All thanks to this amazing website - thank you!!

I still have claims outstanding for Barclaycard, Black Horse and HFC, so fingers crossed, but we have been so fortunate so far, I am not raising my hopes.

Rubydoos

First result back.
Just one letter and FOs questionnaire sent and 6 weeks later Virgin credit card have sent a letter back upholding my complaint, £1065.
Now just waiting to hear from Natwest, Barclays, Egg and Blackhorse.
Thanks for all your help so far

Happy2day

Firstly many thanks for the information from this forum to take this on myself.

As of January this year i applied to HSBC for the miss selling of my Mortgage Payment Protector.

Letter to HSBC......

I believe that I was mis-sold this policy for the reason(s) given below, and wish you to investigate my complaint according to your normal complaint procedures.

- !was not told that the insurance was optional.

- I was led to believe that my application for credit would be rejected if I did not take out the insurance.

- The policy exclusions were not explained to me either before or at the time I took out the insurance. I was therefore unable to make an informed decision as to whether this insurance was appropriate for me.

- I now believe the insurance was unsuitable for me as I was self employed at the time I took out the policy and was not made aware of the specific exclusions relating to unemployment cover.

If my complaint is upheld I require a refund of all premiums paid to the policy, plus any additional interest charged to me because of the PPI. I would also like to claim statutory compensation in view of the fact that I have been deprived of the use of this money.
Please now investigate my complaint within the eight weeks allowed to you.

Yours faithfully xxxxxxxxx
....................

After two weeks i received an application form for the FOS with a reference number.
Now this week i have had a reply....and an offer of just over £4000

As your complaint has been partially upheld, it is not my intention to respond specifically to the other issues raised other than to explain how i reached my decision and how I intend resolving the matter.

You originally commenced the Policy in joint names, which means that you were both covered for accident and sickness, and you would have been covered for unemployment providing you followed the procedure laid out in the Policy document.

However, our records indicate that in April 2003 you met with(bla bla), to re-arrange your borrowing.
At this time , the Policy reverted to a soul beneficiary as your partner was no longer eligible to participate in the policy.

Due to lack of documentation, I am unable to confirm you were made aware of the Policy exclusions that would apply to you.

accordingly,your complaint has been upheld at this point

My Questions....

- What's with the partially upheld bit

- As my policy originally started in 1994 am i being fobbed off with jargon about the change in policy in 2003?

- Are they saying they can't uphold a full claim as they don't have the documentation?

- At no point in their reply was anything stated that i was Self Employed from the start of the policy to the present day.

- Am i right in thinking that they are trying it on, with basically half the amount offered of the total paid in which i stopped in 2011.

- Should i refer my case to the Financial Ombudsman?

- Should i take the money and run...:j

Thank You for taking the time to read this....:)

di3004

More winners!!:T:T

Congratulations to you all!:beer::beer:

di3004

Happy2day wrote: »

Firstly many thanks for the information from this forum to take this on myself.

As of January this year i applied to HSBC for the miss selling of my Mortgage Payment Protector.

Letter to HSBC......

I believe that I was mis-sold this policy for the reason(s) given below, and wish you to investigate my complaint according to your normal complaint procedures.

- !was not told that the insurance was optional.

- I was led to believe that my application for credit would be rejected if I did not take out the insurance.

- The policy exclusions were not explained to me either before or at the time I took out the insurance. I was therefore unable to make an informed decision as to whether this insurance was appropriate for me.

- I now believe the insurance was unsuitable for me as I was self employed at the time I took out the policy and was not made aware of the specific exclusions relating to unemployment cover.

If my complaint is upheld I require a refund of all premiums paid to the policy, plus any additional interest charged to me because of the PPI. I would also like to claim statutory compensation in view of the fact that I have been deprived of the use of this money.
Please now investigate my complaint within the eight weeks allowed to you.

Yours faithfully xxxxxxxxx
....................

After two weeks i received an application form for the FOS with a reference number.
Now this week i have had a reply....and an offer of just over £4000





My Questions....

- What's with the partially upheld bit

- As my policy originally started in 1994 am i being fobbed off with jargon about the change in policy in 2003?

- Are they saying they can't uphold a full claim as they don't have the documentation?

- At no point in their reply was anything stated that i was Self Employed from the start of the policy to the present day.

- Am i right in thinking that they are trying it on, with basically half the amount offered of the total paid in which i stopped in 2011.

- Should i refer my case to the Financial Ombudsman?

- Should i take the money and run...:j

Thank You for taking the time to read this....:)

Hello there

Maybe just maybe due to lack of documentation &/or information, so if you do have further information to give, that you think you may have missed, it may be worthwhile mentioning to them first before moving on to the FOS direction, or ask them to explain what they actually mean in partially, you should know where to take this from there then.

Good luck.

[Deleted User]

Happy2day wrote: »

- What's with the partially upheld bit

- As my policy originally started in 1994 am i being fobbed off with jargon about the change in policy in 2003?

I'm reading this as they agree the policy wasn't suitable at all after 2003 because it was no longer in joint names and didn't cover anyone (due to you being self-employed etc). Earlier than this, I assume they are implying the policy would have covered your wife.

Perhaps you should "partially disagree" with their decision?

I'd certainly be requesting clarification from them.

Happy2day

di3004 wrote: »

Hello there

Maybe just maybe due to lack of documentation &/or information, so if you do have further information to give, that you think you may have missed, it may be worthwhile mentioning to them first before moving on to the FOS direction, or ask them to explain what they actually mean in partially, you should know where to take this from there then.

Good luck.

thank you di... i think my next step is to give them a ring to explain what they mean when they say partially...:)

di3004

Happy2day wrote: »

thank you di... i think my next step is to give them a ring to explain what they mean when they say partially...:)

Your very welcome.:A

Just in case, as it could be another reason instead, but they will explain on the phone to you.

Fingers crossed.

Happy2day

Moneyineptitude wrote: »

I'm reading this as they agree the policy wasn't suitable at all after 2003 because it was no longer in joint names and didn't cover anyone (due to you being self-employed etc). Earlier than this, I assume they are implying the policy would have covered your wife.

Perhaps you should "partially disagree" with their decision?

I'd certainly be requesting clarification from them.

That's what's iv'e been thinking, maybe they would have covered my partner pre 2003, therefore the Policy had some validation?