PPI Reclaiming successes and failures

laganuk

Lender:

Bank in Northern Ireland

Product:

Loan of £5,000

Term:

Fixed Rate of 60 months

Paid by:

Standing Order; borrower is customer of bank

PPI

£1,385.27

I am at Step Three of the process. Got a letter back from lender to say investigations are still ongoing. In my case the Bank's employee who advised me said at the time that the product could only be offered if I took out the PPI thereby making it a all or nothing sell. I acted on his advice and took the product and signed the contract - only now that I noticed that the PPI is a optional product. Its a case of caveat emptor v caveat venditor at the moment but as the loan was for a legal practice course and I took the time to fill out the questionnaire in step 3 then I am hopeful of an outcome in my favour.

dopeydina

Benji_58 wrote: »

Congratulations :j :beer: :j
Hope you dont have to wait to long for your money

Complaint upheld by MBNA - letter dated 16/04/2012, received 19/04/2012 advising payment within 28 days. Cheque received 21/04/2012 :beer:
My journey hasn't been as hard as some and it is almost over for me with all complaints upheld bar one!

Clydesdale Bank - upheld credit card
RBS - upheld credit card
RBS - upheld loan chain
MBNA - upheld credit card
Capital One - rejected - referred to FOS Dec 11 - awaiting response

The best thing about it... I did it all by myself so no claims company ripping me off!

Thanks for all the advice from MSE :A, I couldn't have done it without you all and wishing everyone the best of luck with ongoing claims! Keep at them, it will be worth it in the end!

amersall

danfg78 wrote: »

This CC was taken out in 2001, I was 22 (still young and nieve).

The illness was severe deppresion which could recur (it hasn't luckily).
I didn't have life insurance, does this make a difference?.

I am wondering if Lloyds Send out a rejection letter as standard now?

Depression can recur and if it had you would not have been able to make the claim so state this, also the life benefit you had ( I read from your last post!), ask for the recording and see what they say.

amersall

diamond4lou wrote: »

Hi everyone, can anyone help me with what to do next. I put in a complaint with BOS regarding mortgage PPI that I took out in 2001. They replied after 6 weeks saying they are not upholding my complaint as I didnt have PPI but I know that I did as when I remortgaged in 2005 to Halifax I had it then as well. I do not have any paperwork to prove this so not sure what to do next. The lady on the phone said I would need to send documentation to prove this but dont have any! Any help would be appreciated.

Post your question here

http://forums.moneysavingexpert.com/forumdisplay.php?f=187
they can help you more with this, it is possible there is some form of insurance but that it is not reclaimable.

surprisedstu

what were you reclaiming - Personal Loan/Credit Card
Who was the provider: Natwest
How much did you get back: £22,425.89
Did you get it back after a letter or did you go to the Financial Ombudsman: Letter to the lender

Hi everyone I have been with Natwest for 13 years, about 10 years ago I was having a financial review and the lady suggested I consolidated all of my payments into one lump sum. I thought this was a great idea and agreed, when it got to the part on the form about ppi the lady left the room and came back with another lady and spent 10 minutes telling me how important it was that I took out this insurance as if I lost my job it would be very bad for me in the long run.

This worried me a bit and I agreed to take out the ppi. Being young and not the best with money I needed to consolidate my card a couple more times over the next few years every time the ppi question came up I agreed to take it out again and again after what I had been told the first time by those two ladies.

At no point was I told that I could get cover elsewhere. Eventually I was paying back about £598.00 a month £150.00 of which was ppi. I am the first to admit that I have been stupid with money in the past and have learned very important lesson about the value of things.

I was not sure about sending a letter to my bank about the payment protection as I didn't think for one minute they would pay me it back, it was only when a friend of mine said that his mum had lost her job and had tried to claim on her ppi and had been refused that I thought I would write a letter.

I waited a month and got a letter saying they were investigating my case. On Friday I received a thick envelope full of offers saying that it had come to light that my loan formed part of a consolidated loan chain. The amount of all of the offers totaled £22,425.89

If you are reading this and have not had the courage to write in about your PPI claim do it now

[Deleted User]

surprisedstu wrote: »

I waited a month and got a letter saying they were investigating my case. On Friday I received a thick envelope full of offers saying that it had come to light that my loan formed part of a consolidated loan chain. The amount of all of the offers totaled £22,425.89

If you are reading this and have not had the courage to write in about your PPI claim do it now

That's a strikingly similar story to my own. Well done!:T

jameshants

Hi I would like to share with you a success. I haven't registered until now but without all of your help I wouldn't have plucked up the courage to do it!!
What were you reclaiming: Loan(s)
Who was the provider: Lloyds
How much did you get back: £3,000.76
Did you get it back after a letter or did you go to the FOS: 10 minute call to Lloydstsb and that's it!!

I started my claim at the beginning of march and got a confirmation letter through on 8th march. Today I received their decision and I nearly fainted!! I had got a loan out for £10000 in 2007 and reconsolidated it again in 2010. The PPI was front loaded so I was paying for a loan on a loan. Best of all is that the money has already been paid into my account!! I am officially out of my overdraft for the first time in 11 years and am still awaiting a decision for a £5000 egg loan and my lloydstsb credit card which I had ran a balance of up to £5000 on since 2007.

It goes to show that Lloyds are capable of meeting deadlines as this took less than 7 weeks from complaint to payment. I wish you all the best of luck in the world in getting back what is rightly yours and I cant't thank you enough.
James

nbz1978_2

jameshants wrote: »

Hi I would like to share with you a success. I haven't registered until now but without all of your help I wouldn't have plucked up the courage to do it!!
What were you reclaiming: Loan(s)
Who was the provider: Lloyds
How much did you get back: £3,000.76
Did you get it back after a letter or did you go to the FOS: 10 minute call to Lloydstsb and that's it!!

I started my claim at the beginning of march and got a confirmation letter through on 8th march. Today I received their decision and I nearly fainted!! I had got a loan out for £10000 in 2007 and reconsolidated it again in 2010. The PPI was front loaded so I was paying for a loan on a loan. Best of all is that the money has already been paid into my account!! I am officially out of my overdraft for the first time in 11 years and am still awaiting a decision for a £5000 egg loan and my lloydstsb credit card which I had ran a balance of up to £5000 on since 2007.

It goes to show that Lloyds are capable of meeting deadlines as this took less than 7 weeks from complaint to payment. I wish you all the best of luck in the world in getting back what is rightly yours and I cant't thank you enough.
James

Congratulations! :j

Nice to hear that there are some Lloyds customers who are getting their money back within a reasonable timeframe even if the majority have to wait an absolute age!

Good luck on your other claims
:beer:

dolphingazer

surprisedstu wrote: »

I waited a month and got a letter saying they were investigating my case. On Friday I received a thick envelope full of offers saying that it had come to light that my loan formed part of a consolidated loan chain. The amount of all of the offers totaled £22,425.89

If you are reading this and have not had the courage to write in about your PPI claim do it now

Moneyineptitude wrote: »

That's a strikingly similar story to my own. Well done!:T

Hi surprisedstu,

This is fantastic:j I bet you can't quite take it in!
Well done.:T

Hi moneyineptitude,
As I was reading this I was thinking how similar to your story this was:):)

juleeeh

4 thousand claimed back from lloyds, took 7 weeks from start to finish and recieving cheque, over 6 thousand from lombard direct and direct line
just awaiting another lloyds loan and 3 credit card replies
10 thousand plus so far
good luck to you all