PPI Reclaiming successes and failures

Sparkle_66

I have just phoned Co-operative Bank for an update on my PPI claim received by them on 12 March as it was approaching 8 weeks. Have been advised they are making me a goodwill offer of £6430 :j:j.

I am absolutely over the moon considering I had no paperwork except an old credit report showing several loans from 2000 til 2006. Needless to say I will be accepting as soon as the letter arrives in the post and they will pay the money into my account apparently. I will be paying off my credit card in full and it will also pay for the last minute mediteranean cruise I booked last week at half price.

Just like to say a huge thankyou to everyone on this thread & PPI discussion thread. Without you I don't think I would have bothered but so glad I did :T :T

Don't think about claiming PPI just do it, there is loads of advice on the forum and it is a straight forward process and definately worth it. Any questions about my claim please feel free to ask.
:beer:

wispachoc

Just got a lovely surprise in my bank account this morning. I replied to the standard NRAM letter on 2nd April and now have a complete refund of PPI on a loan I took out about 8 years ago.!!!!
It is well worth a try:j

amersall

1) i have a credit card with lloyds still given that they have stated they are paying the money into the current account am i safe to assume they will not automatically pay some of it towards the balance of my CC?

If you do not have arrears on the card I think it is safe to assume the money will go into your current account.

2) How achievable is the 28 days target? any experience anyone, seems to be very mixed!

It is very mixed as some get paid quickly and others do not, sometimes it goes over the 28 days, hope you get yours sooner rather than later .
Congrats on your win :beer:

amersall

satanindrag wrote: »

I don't think I have never been as confused as I am this morning?!?!

Following on from the other day, everything has changed again and even after phoning LLOYDS TSB, I am still none the wiser?!?!

Here is the story so far.......

I won my PPI refund claim and LLOYDS TSB informed me that I would be paid back the total sum of £4,607.47.

As of today I have now received this amount in full which has gone directly into my bank account! :T

However, this doesn't explain why my existing LLOYDS TSB loan balance has dropped from just over £7,000 down to £923?!?!? Have I been refunded twice?!?

I phoned the LLOYDS TSB and they confirmed my current loan balance is £923. I tried to explain everything on the phone, but I might as well have been speaking dutch, as the girl on the phone just didn't understand a word of it! After a long silence the girl on the phone said...

"Er.....I'll send you a statement."

One thing is for certain, I won't be spending too much until I know exactly what is going on, because when they work out their mistake, I don't want to end up paying it all back!!

- G.

As the loan is still running and you have won mis sell, the whole PPI amount is taken off the loan balance, do you know what the original PPI amount was, this could be why the balance has dropped.
They should also reduce the monthly payment on this loan by the PPI monthly payment.

Hope this helps.
It is possible with Lloyds that they have paid the whole PPI to the loan twice !! but if the whole PPI matched the amount that the loan has reduced by then they have done it correctly.

amersall

fbfbfb wrote: »

please can you help, recieved letter saying my complaint of being missold mortgage ppi, purchased in 1994--2006 is not being upheld, as they only made me aware of this insurance, and they did not need to check eg that we recieved our wages if off sick, and they claim that they did not need to make me aware I would be able to purchase this from a broker of my choice. They also claim I made a succesful claim in 1998, but admit they do not have the details of this claim. I have NEVER made a claim tbh I wouldn't know how to, as I have never needed to. Would be grateful for any advice. The building soc, was newcastle bs. thanks

You need to post your question here
http://forums.moneysavingexpert.com/forumdisplay.php?f=187
They know more about MPPI and it depends on what this PPI covered as to if you have a claim or not.

While you are waiting for a response from your question on the link I gave, I would ring Newcastle BS and ask for proof that you made this claim or you will give this claim to FOS to deal with, how did they know you made a claim when they have no proof of this?.

amersall

jackandavasmommy wrote: »

hi i put a claim in with capital one and they have denied my request saying that the ppi was sold over the phone so i was made aware what it was for. however they have sent me my original application and i have ticked no for ppi so they obviously rand me to hard sell after i had said no! shall i reply and try again???

Get back in touch with them and enclose a copy of the agreement showing that box for PPI is not ticked so this shows you did not want the PPI originally, ask them for a recording of the telephone conversation where you accept the PPI as you needed to have and not because it was "sold" to you on the phone later, let them know that if they do not deal with this request you will pass this to FOS to look at.

poppetg

:(Hi, after lurking on the site for ages, and reading all the good advice I sent off claims for my Lloyds CC, and some loans I've had.Last week I had a call from them to discuss my claim and today I had a letter back from them, rejecting my claim. They have stated they are confident that the PPI policy was clearly explained to me(it wasn't!), and they have my signature on the form.
Is it worth writing back to them, and saying I dont agree with this, my arguement is, at the time of taken out this credit card(2004) I had a very stable job(that I still have) and I would have been fully paid for sickness etc.Therefore I wouldn't have needed PPI.
I would be grateful for any help.

Rubydoos

I have just received a letter from Egg confirming my thoughts that they will not uphold my complaint.
My complaint relates to a credit card that I took out in May 2007 via the internet. I clearly recall the PPI box being ticked and when I un-ticked the box it would not allow me to continue with the application so I assumed this was a condition of obtaining the card.
Egg have stated this is their final response and have provided me with the FOS booklet.
I have a couple of questions,
Has anyone had any successes with Egg re an internet application for a credit card?
Am I wasting my time taking this to the FOS?
Other than my account number and the letter I now have from Egg I do not have any other paperwork to forward to the . Is that a problem or should I send a SAR to Egg then forward that to the FOS?

jaibee

This is a success from a couple of years ago that I always meant to post but never got round to. I used the template letter to try to reclaim PPI from the Bank of Scotland for a very old Preference Account that operated in a similar way to a credit card. The account had been dormant for a number of years but fortunately I still had statements with account details. Initially I was declined a refund but a follow up letter to the Ombusman resulted in a cheque for around £300, which I thought was a bit low but better than nothing. A day later a 2nd cheque arrived for £3000+ - so glad I'd taken the time to persist.

PS now trying to reclaim from an old EGG credit card

satanindrag

amersall wrote: »

As the loan is still running and you have won mis sell, the whole PPI amount is taken off the loan balance, do you know what the original PPI amount was, this could be why the balance has dropped.
They should also reduce the monthly payment on this loan by the PPI monthly payment.

Hope this helps.
It is possible with Lloyds that they have paid the whole PPI to the loan twice !! but if the whole PPI matched the amount that the loan has reduced by then they have done it correctly.

Well, the loan balance on 30th April 2012 was something like £7,200, with still some 26 monthly repayments left. The PPI element was £66.41 per month. Therefore in simple terms, I calculated that the total PPI that would be deducted was £1,726.66 (26 x £66.41).

Then if you deduct £1,726.66 from the loan balance of approx. £7,200, then I thought that I still owed just under £5,500?!? Yet as of 1st May 2012 my loan balance has been confirmed as just £923?!?

I am going into my LLOYDS TSB branch tomorrow to see if they can help clear this up, because something isn't right. If however they want to leave it as it is, then I would be more than happy!

- G.