PPI Reclaiming successes and failures

ivor888

I took out a loan a few years back which has all been paid off but the salesman was very aggressively selling PPI. I had applied for an advertised APR but was told I could only have that rate if I took out PPI. As I had already been told this did not cover me for much I refused and a higher APR was eventually agreed.Whilst I willingly agreed the rate it was to avoid more searches on my credit file and only because I was told (after much haggling) that this was the best rate that could be given without PPI.
I would not normally want to go over old deals like this but it struck me at the time it was being miss-sold and I had no available recourse to do anything about it so it grated a bit!

[Deleted User]

ivor888 wrote: »

a higher APR was eventually agreed

They offered that % rate and you agreed to it, so nothing you can do here.
Just be grateful you weren't badgered into taking PPI.

kenfold

Hi everyone,

I am just after people's views on my ppi complaint that I submitted last week. I have had a loan with Natwest since Feb 2008, the loan ends in Feb 2015 and I pay £473 a month. I declined ppi from the start because I didnt need it because of my job. I then discovered last week that I have been paying ppi for the term of my loan so I submitted a complaint direct with Natwest who to be fair were pretty helpful.


I just wondered what people thought about my chances of a successful claim and also if I won would the money awarded be taken from the outstanding balance of the loan or paid directly back to myself? Also would the monthly amount come down because the ppi would be removed?


New to all this so thank you in advance for any replies :-)


Keith,

amersall

kenfold wrote: »

Hi everyone,

I am just after people's views on my ppi complaint that I submitted last week. I have had a loan with Natwest since Feb 2008, the loan ends in Feb 2015 and I pay £473 a month. I declined ppi from the start because I didnt need it because of my job. I then discovered last week that I have been paying ppi for the term of my loan so I submitted a complaint direct with Natwest who to be fair were pretty helpful.


I just wondered what people thought about my chances of a successful claim and also if I won would the money awarded be taken from the outstanding balance of the loan or paid directly back to myself? Also would the monthly amount come down because the ppi would be removed?


New to all this so thank you in advance for any replies :-)


Keith,

Hi, if the loan is not in arrears then they should give the redress to you.
If the loan is still running you will have the loan balance reduced by the whole PPI amount and your monthly payment will go down by the PPI monthly amount, the PPI monthly payments you have made to date will be returned to you with the 8% interest.

Good luck

harrpau7

amersall wrote: »

Sorry to hear this, they upheld your claim but have no proof you paid PPI, why did they not just reject this due to there being no proof? what idiots :mad: hope the FOS make sense of this.
Good luck and please let us know how you get on.

The FOS sent me some forms to fill in about a week ago, which I returned in the post last Thursday, how long does it usually take them in resolve a case?

Thanks for all your hard work too, thats to everyone on here

Nitamcc21

harrpau7 wrote: »

The FOS sent me some forms to fill in about a week ago, which I returned in the post last Thursday, how long does it usually take them in resolve a case?

Thanks for all your hard work too, thats to everyone on here

I haven't personally dealt with them (yet) but I've seen reply's to posts saying that they're snowed under and 6 months would not be unreasonable...:(

Neets

kenfold

amersall wrote: »

Hi, if the loan is not in arrears then they should give the redress to you.
If the loan is still running you will have the loan balance reduced by the whole PPI amount and your monthly payment will go down by the PPI monthly amount, the PPI monthly payments you have made to date will be returned to you with the 8% interest.

Good luck

Sounds promising then :0) I will let you all know how I get on.

Shirleyk

harrpau7 wrote: »

The FOS sent me some forms to fill in about a week ago, which I returned in the post last Thursday, how long does it usually take them in resolve a case?

Thanks for all your hard work too, thats to everyone on here

I recently complained to the FOS and they replied saying that they were receiving around 2500 letters a week in relation to PPI complaints and that I might not hear anything for a year. I'm in no hurry but I know that some folks will want an answer quicker than that.

amersall

harrpau7 wrote: »

The FOS sent me some forms to fill in about a week ago, which I returned in the post last Thursday, how long does it usually take them in resolve a case?

Thanks for all your hard work too, thats to everyone on here

Could be 12 months or more, depends how fast they can get through these, it could be quicker so I would just carry on as though you are not waiting for this until you hear something.

yummymummy1152

Hello everyone,
Wanted to share my story and also ask for some advice.
V briefly, in Sept 2011 I contacted Halifax regarding PPI misselling on my mortgage. I submitted complaint and it was upheld. In November I was made an offer of £777.28. I contacted them and said that we were expecting much more as we had been paying premiums for 4 years. They said that this was for one year only, and I should accept that and they would open a new complaint for the remaining 3 years. I didnt understand why this was the case but they told me on the phone that this wouldn't prejudice my claim on the rest. So, in December 2011 we received a cheque. In January 2012 I was concerned not to have heard anything so contacted them again. They had not submitted the complaint correctly apparently. In February I received a letter apologising and saying that they were looking into it and would be in touch shortly.
Since February I have chased them up constantly by phone but they seem to have switched to a call centre in the Philippines rather than the place In Leeds which I had previously spoken to. The new call centre has no idea and seems to be designed to fob you off. They just say'no news yet'. I feel that as by my calculation I am owed about £2.5k in premiums and interest, that Halifax have robbed me! I am so angry and frustrated! I wrote to them again 3 weeks ago in Leeds and have still had no response.
Does anyone have a phone no for Leeds where it is possible to speak to a person who actually has a clue rather than these infuriating call centres, or has anyone else experienced this? Should I now go to the FOS?
Thanks