PPI Reclaiming successes and failures

Billandben1

Hi everyone.

I'm just about to start a claim and what to see what type of refund I would get back. I had a business loan (I was registered as self employed) and my company hit hard times, I had an over draft of £25,000 and my bank forced me into taking out a loan for £27000 to clear my debt to them. They also requested that my parents acts as security for the loan. I fell on hard time and could not afford to settle the loan, so my parents stepped in and paid the full balance off.

The loan was a business loan but it was in my name and I was trading as a soul trader.

I spoke with lloyds on the phone and they told me it did have ppi and that I paid £1954.00 for it. I could have never clamied as I was self-employed and my parents were also security.

I think I have a good case, but wanted to know what sort of refund I might get for this, as I have been advised you get more if you were self employed and it was never going to pay out ?

Any ideas anyone. It was back in 2006 now.

shellnpaul

Hi, with regards to my rejection from lloyds with my cc complaint, I have banked with them for over 20 years and in that time I have had 7 loans with them all without ppi as I opted not to have it as I felt with work sick benefits I did not want it or had any need for it, so I feel that why would I then knowingly opt to have on my credit card. Do you think , when I respond back to them to ask them to reconsider my complaint, that I should state this to them? Do you think it may strengthen my case, I really need bit of advice please. Thanks michelle

[Deleted User]

shellnpaul wrote: »

when I respond back to them to ask them to reconsider my complaint, that I should state this to them? Do you think it may strengthen my case,

As the Bank have given their "full and final" response, the next stage for you is the Financial Ombudsman Service (FOS).
No point in "responding " to the Bank, unless you have new evidence to present or you think they should have considered aspects of your case which you feel they haven't addressed properly. This doesn't appear to be the case here, I'm afraid.
Replying to the Bank in this instance is just further increasing the time it will be before FOS issue their findings on your case.

toni66

Hi sorry if this has been asked before, but do we have to ring the tax office and inform them about the money ive won, I know the tax is only paid on the interest part. Do the tax office take the payment over the phone, sorry if that sounds stupid,

Toni

Lloyds win £1928
Nationwide credit card £1779
Nationwide loan £2890 interest to be added
still 3 more to go

toni66

can anyone help xx thanks

Gary_SSS

mikey8998 wrote: »

hi i made a ppi claim through fscs for welcome finance, welcome phone me today to say that fscs won £3500 for us which was paid against the outstanding blance of the loan, this was done without my knowledge and i was told when i started the claim that the money would go into my account.

surely that money is mine can anyone offer any advise as welcome are saying that they will not give the money back :mad:

Hi Mate, the exact same thing happend to me, I was awarded approx £3k but they just paid it off the outstanding balance - i was also advised by WF that the money would go into my account but since then the advisor has been made redundent and they cant prove it - i phoned my snotty account manager at welcome and she was not helpful and basically talking down to me - im afraid you cant do anything about it mate - Im sorry and feel your pain - but at least you won your claim and got some off the loan so not ALL bad - cheers

trainerboy59

I took out a loan via Loans.Co.UK (LCUK) and have been trying to track them down as they are not trading. After much tooing and froing...i have tracked them down.
After submitting m claim using the templates on the site i have received a letter today upholding my claim....A bit more waiting but i will get something back eventually.

IF it helps anyone else LCUK are at:
Chester Business Park
Wrexham Road
Chester
CH4 9FB

Tel: 01244 - 574290

It has taken me about 3 months to get to this stage - via insurer, current lender, letters and phone calls but don't give up guys....and don't use these companies currently advertising...You can do it all yourself easily using the templates on this site...So thanks MSE !!!

Queenie2012

Hello all,

Received my Cheque today from MBNA, £1628.22. I only received the letter that they upheld my complaint on 31st March and today 4th April the cheque arrived. I am so pleased, all it took was one letter with a 2nd class stamp, hehehehe.

Right now to wait for a response from Argos and Egg, I think Egg maybe trouble but lets see.

This extra money has taken 3 months off my original debt free date too:j

tucker72

Hi
Have just spoken to HSBC who said they have received my claim, there was a lot of activity on my account as they were working out who much ppi I had paid and interest. Does this mean they will uphold my claim ?? or do they work that out then decide ??

JerseyClam

Hi,

I claimed for the PPI on my Endowment Mortgage, which I took out in 1983 from National & Provincial, who became Abbey and now are owned by Santander. Part of this mortgage matured in 2008, and part in 2011.
I read the information provided on this site & filled in the form in February. I received an acknowledgement quite quickly, then a polite holding response after a month, and today after a total of about 6 weeks I've received a settlement offer of just over £17,500, made up of a full refund of my premiums plus interest calculated at 8% simple.

I'm really pleased and impressed - making the claim was very straightforward, and the speed with which Santander acted, especially since this was a liability they inherited through no fault of their own, was exemplary.