PPI Reclaiming successes and failures

amersall

stuart47 wrote: »

hi,i am wondering if it is still possible to still claim against ge money an black horse,i have recieved letters from them both saying that i am not getting any ppi back due to them before 2006.

What year were they taken out?.

amersall

Billandben1 wrote: »

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.

If you win redress, you get the PPI back that you have paid to date with 8%, this is the redress for all mis sells, they do not pay anymore than this.

When the loan was settled there may have been a rebate of this PPI that will be taken off the redress, as the loan is finished they should give you the whole PPI amount back less the rebate if they gave you one plus 8%.

Was this PPI in with the loan payment and not paid separately?, if it was this is front loaded and the most upheld of all PPI mis sell, this was a loan upon the loan to term end with interest.

krissy08

PPI New question please
Hello all,

After all the news about PPI, I contacted my previous mortgage provider and complained about the total mortgage protection plan (TMPP) added to my initial mortgage. I was definitely misold because I worked through an agency and I was sceptical even at the time that it would be good value but was made to feel that it was part of the mortgage.
I have received a letter after my first and only phone call basically accepting liablility iand offering me a refund of my premium of £609.84 and interest at the gross of 8% (£385.62). The TMPP was made up of Mortgage repayment cover (MRC), Life cover and Critical illness cover. This refund is only based on the MRC element as they say it's is the only PPI.
Should I accept this initial offer?, Do I have any claim on the other elements of the TMPP?
Any advice welcome. Thank you very much

gimgems

Hi I have been trawling through the successess of reclaiming mis-sold ppi over the last few weeks. Really inspired by the stories I've read. I put a complaint in to Black Horse about 4 weeks ago. They have responded to say they are looking into it. Just wondering if anyone has had any success from them??
Thanks

Kinny33

I finally decided to use the relevant documents which MSE provided to write to HSBC regarding mis sol PPI.

I have recently been looking at my loan paperwork and the number of loan repayments I have to left to pay. Obviously the interview I had was a extremely long time ago in April 2008. I do not remember or have any information booklets associated with the insurance attached to my loan. I wasn't even aware that I was paying for insurance until I started analysing my statements more thoroughly and looking at mandates/direct debits which are set up on my bank account. I recently went into my local branch. They informed me that the monthly payment coming out of my account to HSBC Life UK is my insurance policy. I believe that what I was agreeing to at the time of the meeting, was not clearly explained to me. I was not aware of the cost of the insurance, it's benefits and terms until I enquired about payments going out of my account at the start of this year.

I also sent to HSBC a copy of a Personal Financial Planning Review Summary, which was completed at the time of the interview, also a copy of the loan agreement. I have insurance policies with another Company which started in 2006. I would not have needed any further policies as they would duplicate the policies I already have. Having read through the summary, although I must have signed the declaration (I'm assuming on the copies which the bank have on file), I believe I was not issued with any explanation of the insurance services, including costs and benefits and I wasn't given the opportunity to read, understand and review the documentation at the time of the meeting.

I believe that the salesperson did not do a full analysis of my needs, as my other insurance policies would have come up upon discussion.

I have sent of everything and I received a acknowledgement letter from HSBC within a couple of weeks stating that my complaint has been lodged. My original documentation was also returned to me as I guess they made copies. My question is:

I don't really know if I have a claim as such but just thought I'd do it anyway - however I do remember consolidating my loan on a few occasions. But can't really find any further documentation to support this. Shouldn't HSBC be able to tell when looking into my loan I have at the moment. Surely there should be a paper trail? If my claim was successful then would I be entitled to further refunds? Again if I were successful how would HSBC calculate the interest owing to me? And do Banks in general ever offer compensation or is that down to mitigating circumstances?

Ok I still have a lot of questions and I may be jumping ahead of myself but I am trying to get as much information as possible so if they do respond to me, I understand my full entitlements and they do not try and con me. Just one more question: I am still paying my monthly installments of £19.66 a month and have been during this loan for 48 months. Should I cancel the insurance now or should I wait to see what HSBC say regarding my claim?

Sorry about all the questions but I need just a little advice still.:(

only_mee

gimgems wrote: »

Hi I have been trawling through the successess of reclaiming mis-sold ppi over the last few weeks. Really inspired by the stories I've read. I put a complaint in to Black Horse about 4 weeks ago. They have responded to say they are looking into it. Just wondering if anyone has had any success from them??
Thanks

If you put black horse in the search this thread bit at the top you will get answers.

manama

Kinny33 wrote: »

I finally decided to use the relevant documents which MSE provided to write to HSBC regarding mis sol PPI.

I have recently been looking at my loan paperwork and the number of loan repayments I have to left to pay. Obviously the interview I had was a extremely long time ago in April 2008. I do not remember or have any information booklets associated with the insurance attached to my loan. I wasn't even aware that I was paying for insurance until I started analysing my statements more thoroughly and looking at mandates/direct debits which are set up on my bank account. I recently went into my local branch. They informed me that the monthly payment coming out of my account to HSBC Life UK is my insurance policy. I believe that what I was agreeing to at the time of the meeting, was not clearly explained to me. I was not aware of the cost of the insurance, it's benefits and terms until I enquired about payments going out of my account at the start of this year.

I also sent to HSBC a copy of a Personal Financial Planning Review Summary, which was completed at the time of the interview, also a copy of the loan agreement. I have insurance policies with another Company which started in 2006. I would not have needed any further policies as they would duplicate the policies I already have. Having read through the summary, although I must have signed the declaration (I'm assuming on the copies which the bank have on file), I believe I was not issued with any explanation of the insurance services, including costs and benefits and I wasn't given the opportunity to read, understand and review the documentation at the time of the meeting.

I believe that the salesperson did not do a full analysis of my needs, as my other insurance policies would have come up upon discussion.

I have sent of everything and I received a acknowledgement letter from HSBC within a couple of weeks stating that my complaint has been lodged. My original documentation was also returned to me as I guess they made copies. My question is:

I don't really know if I have a claim as such but just thought I'd do it anyway - however I do remember consolidating my loan on a few occasions. But can't really find any further documentation to support this. Shouldn't HSBC be able to tell when looking into my loan I have at the moment. Surely there should be a paper trail? If my claim was successful then would I be entitled to further refunds? Again if I were successful how would HSBC calculate the interest owing to me? And do Banks in general ever offer compensation or is that down to mitigating circumstances?

Ok I still have a lot of questions and I may be jumping ahead of myself but I am trying to get as much information as possible so if they do respond to me, I understand my full entitlements and they do not try and con me. Just one more question: I am still paying my monthly installments of £19.66 a month and have been during this loan for 48 months. Should I cancel the insurance now or should I wait to see what HSBC say regarding my claim?

Sorry about all the questions but I need just a little advice still.:(

IT may be hard as payments are monthly not one up front. Also if you had bother loan prior to this, did it give the details on your letter from them? Good luck.

gedee13

gedee13 wrote: »

CAN ANYONE BEAT THIS FROM LTSB.
Sent off a letter of complaint in May 2011.
Claim upheld by letter in August 2011 with no final offer.
Received final offer in November 2011 with interest up to December 2011.
As of today and after numerous telephone calls, still no payment.
Thats what I call total taking the ****.:mad:

Guess what. Now into April 2012 and despite unanswered e-mails and more phone calls to the PPI help line, still no payment. Have now sent a letter to LTSB with deadline. I have been with LTSB for over 30 years, but not for much longer.:mad:

amersall

I am still paying my monthly installments of £19.66 a month and have been during this loan for 48 months. Should I cancel the insurance now or should I wait to see what HSBC say regarding my claim?

Do not cancel this Insurance, wait for the outcome of your claim. If you cancel now the loan will be reset with no PPI and this could increase the term and APR.

I do remember consolidating my loan on a few occasions. But can't really find any further documentation to support this. Shouldn't HSBC be able to tell when looking into my loan I have at the moment. Surely there should be a paper trail? If my claim was successful

They should look at loans that were consolidated with this one, if they do not then ask them to do this, see what response you get from them first.

If my claim was successful then would I be entitled to further refunds? Again if I were successful how would HSBC calculate the interest owing to me? And do Banks in general ever offer compensation or is that down to mitigating circumstances?

If they were rolled over loans then each time you settled a loan you would have been given a rebate of PPI on the first loan, the remaining PPI would have been carried over to the next loan and so on, if you win redress they give you the PPI paid on each loan then will take the rebates of PPI off this.

You will get the PPI that you have paid with interest on those payments and 8%.
They do not give compensation, only in rare cases with mitigating circumstances.

!

I do not remember or have any information booklets associated with the insurance attached to my loan. I wasn't even aware that I was paying for insurance until I started analysing my statements more thoroughly and looking at mandates/direct debits which are set up on my bank account. I recently went into my local branch. They informed me that the monthly payment coming out of my account to HSBC Life UK is my insurance!

Is this life insurance or PPI that covers you for sickness redundancy etc?.

thunderkid1234

I thought id give MBNA a cheeky call to see how my 3 claims were progressing to be told a letter has been sent out to me to tell me 2 of the 3 claims were successful one for £4000 and the other for £4800.
The card i was rejected on had PPI but was never used and subsequently i had cancelled the PPI apparently not sure this is right but i'll wait to cash in before i progress this further.

All it took me was a simple phone call no forms filled in, and i dont think i was on the phone longer than 10 minutes

Further claims ongoing with Northern Rock (NRAM) Barclays, citibank and Natwest all should be succesful as i was self employed when PPI was taken.