PPI Reclaiming successes and failures

terence13

daisychain9 wrote: »

OMG just received a letter from RBS saying they are upholding my credit card PPI complaint and are paying me £4323.95, i'm gobsmacked at the amount. It was from period of 2000 - 2007. I had pretty much convinced myself that they wouldn't uphold it but they did and 8 weeks exactly to the date of my complaint I got my letter, very happy bunny

HUGE thanks to everyone on here, especially the regulars who have given such amazing help and advice and of course to MSE, you are all :A

Quick question though, they sent me a letter at the same time about my other credit card I had put a complaint in about which was the one before the 2000 card. They said they were unable to progress the matter further as they can't locate the card number on their records but if I can give them any further details they will be happy to reopen. Is it worth pursuing this one? The card was closed end of 1999 so i'm guessing they don't have any information anymore on it. I gave them the card number when I put in my complaint. I'm currently waiting on my SAR request coming from them for all my info.

Thanks again :beer:

Hi congratulations on your success. I too had claim in with RBS for loans and cc's. They took the 8 weeks to reply but had successes with my 2 cards and a couple of loans. Have 4 loans outstanding (was young and stupid then) dating back to 1992. They gave me account numbers (only had acc no for 1 loan) but said the same as they said to you - if I could give them policy numbers, paperwork they would be happy to reopen. Sent request for SAR and 40 days is up on Monday. How long did you request yours? Not too sure if paperwork will go as far back as this but fingers crossed

Top-ranking_Bug

I took out an Egg loan in 2004, arranged over the phone, coerced into taking PPI. However, on reviewing my documentation a few minutes ago, included is a detailed Egg Loan Protection Policy form which I would have had to sign and return a copy, thus acknowledging I knew what I was letting myself in for. The Loan amount was £10k, the Loan Payment Protection was £2305, total £12305, with interest on top.
My question is, having signed and returned aforementioned form, is it worth attempting to claim?

[Deleted User]

Top-ranking_Bug wrote: »

My question is, having signed and returned aforementioned form, is it worth attempting to claim?

Of course. Look for reasons to complain here and follow the simple steps:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

danfg78

amersall wrote: »

You need to ask them why is there an early settlement difference, they can explain this better to you, it is possible they do not know that this loan defaulted and have repaid from the date before you went into default, this looks like the most likely reason, but I don't know why they would do this.
What was the term of the loan and when did you default?.

The loan was taken out in February 2005, the term was 60 months and it defaulted in March 2006. Surely as the money owed has been paid in full and the PPI was front loaded I should be entitled to the full PPI amount?

[Deleted User]

danfg78 wrote: »

The loan was taken out in February 2005, the term was 60 months and it defaulted in March 2006. Surely as the money owed has been paid in full and the PPI was front loaded I should be entitled to the full PPI amount?

I'm only guessing here, but could the "early settlement" difference refer to when the debt was passed to a collection agency?

daisychain9

terence13 wrote: »

Hi congratulations on your success. I too had claim in with RBS for loans and cc's. They took the 8 weeks to reply but had successes with my 2 cards and a couple of loans. Have 4 loans outstanding (was young and stupid then) dating back to 1992. They gave me account numbers (only had acc no for 1 loan) but said the same as they said to you - if I could give them policy numbers, paperwork they would be happy to reopen. Sent request for SAR and 40 days is up on Monday. How long did you request yours? Not too sure if paperwork will go as far back as this but fingers crossed

Thanks, I sent the SAR on 20th March so got a wee bit to go until my 40 days are up. I might give them a call on Monday and see if there is any information I can give them over the phone that will help, failing that i'll see if the SAR throws up anything when it arrives.

Hope you get your SAR info through soon and have success with them with your other loans

muzzy1

What were you reclaiming: PPI on a loan
Who was the provider: First Plus/Personal Loans Express
How much did you get back: £5569.09
Did you get it back after a letter or did you go to the Financial Ombudsman: Went to FSCS after being told PLE was no longer trading.

We had a £20,000 loan over 10 years taken out with First Plus Loans back in 2006.
The loan would only be accepted if we took out the PPI which was around £6244 on top.
We came into some money a couple of years later so paid off the loan in full, but ended up paying over £21000 to clear the loan and PPI

Made the claim to First Plus whom the contract was with, they sent them back saying the loan was with Personal Loans Express, even though we had no paperwork with their name on and didn't recall going through them either???

So, we then went to the FSCS, who dealt with it, after around 8 weeks we just received a cheque for £5569.09, you can only receive 90% of the loss through the FSCS, otherwise it would have been more.

All in all very happy.
Thankyou for your guidance

michellefromessex

Halifax has made us an offer of £6,570.11, this is in addition to the £1,788 cheque we received a fortnight ago for credit card PPI reclaim. They have paid £3,100 off of the loan that was still running, and will be issueing us a cheque within the next 28 days for the remainding 3,470.11. Very happy with the outcome - took 7 weeks from sending off the questionaire from this website. Have 4 more ongoing at the present, we will be using the money constructively and clearing our debts and apart from our mortgage will have no debt whatsoever for the first time in a long long time - this is such a weight off our shoulders, running a business through a recession has been such a struggle, for once we feel like we can breathe!!!! Thankyou so much to everyone on this site!

joanne13

Hi,
I have just received a letter from natwest offering me my total refund of ppi and associated interest (£760.20).Plus net interest of £224.61 minus tax of £44.92. In total £939.89.

It took 4 days short of 8 weeks after making a simple phone call.

I just need to complete the acceptance form and wait for the money to be paid into my account.

A special thanks to Amersall for making me aware that this was a front loaded loan. And thanks to everone who has given advice on this site.

danfg78

Moneyineptitude wrote: »

I'm only guessing here, but could the "early settlement" difference refer to when the debt was passed to a collection agency?

Thank you moneyineptitude, amersall and all the others giving great advice on here.

I have worked out what is going on with the loan (I have just received an offer for my other loan). Moneyineptitude is correct that the early settlement is when the loans defaulted and were past to a collection agency.

The first loan paid out less as it was only a partial settlement (I thought it was settled in full but after checking it wasn't).
The totals so far are:
Loan 1 - £747.95 / defaulted partially settled
Loan 2 - £1533.68 / defaulted fully settled

Just disputing a CC that was not upheld now

Again thank you all on here.