PPI Reclaiming successes and failures

bellybee

What were you reclaiming: Loan attached to mortgage
Who was the provider: Northern Rock
How much did you get back: £744.36 full premiums returned and 8% interest £216.15 total of £960.51
Did you get it back after a letter or did you go to the Financial Ombudsman: 1 letter tto mortgage company one stamp 32p

I follwed the excellent advice on MSE filled in the form provided dug out old paperwork and applied a few policies couldn't be found but they were pennies and may have been cancelled. I sent it all off I got a few still investigating letters and finally got my full refund. I am so happy we are having lots of financial troubles at the moment with my hubby's job hanging in the balance and roof works costing over £4500 so this will really help.

amersall

dobedo wrote: »

I received a letter exactly four weeks after contact CAHOOT with my PPI claim.
My offer letter is for £1800.36 in total for two fixed rate loans from cahoot. This is for full payment of my monthly instalments of PPI plus 8% interest.
I used a template letter (on philmarsh post) which I adapted and I also sent a completed financial ombudsman questionnaire which I also found on this site. I did a lot of research using the MSE site and forum before contacting CAHOOT. I had no documents for my fixed rate loans or PPIs and I had also moved house and changed my name since having the loans. I used a template letter from your forum for a Data access request which I sent to cahoot with the little details I had. I used credit expert Credit check (experian) site to give me the payment details which helped.
The date access came back in the form of database printouts which I didn't understand. So I put it down for a couple of months believing I would need to write again to get more details.
I later picked up the information again and scanned it closely. I then found lots of details in it confirming payments and ppi. They never sent me any insurance details and in the early days of my contacting them they confirmed over the phone that I never had any ppi and they had no records of my first loan with them! Which of course was untrue!!
So once I had all the relevant info I sent my claim letter with questionnaire and claimed under the basis of existing medical condition. They never asked me about any illnesses and they mis sold it to me.
So I am very happy!!
The only thing I may question unless any of you are able to help??
I paid off the remainder of my loan with a lump sum payment early after receiving a settlement figure approx £2,000. Would this final settlement have included ppi payments or would it just be what I owed? As I cant remember?

A big thanks to all the helpful encouraging info on the MSE site and forum and thanks to all contributors who use the forum as it has been a great help to me, THANKS

When you settled the loan you would have been given a rebate of the PPI but the remaining PPI would have been paid back by you with the settlement figure.

You should get the whole PPI amount back less the rebate.

tonybavaro

calw wrote: »

Thats brilliant news enjoy....can I just ask what your reasons for missell were with capital one as I currently have a compalint in with them on a credit card....

I was self-employed at the time of taking out the credit card,and they were unable to show that I had requested PPI.They originally turned down the complaint out of hand via a telephone conversation with a very rude lady.I was about to abandon the complaint,but the more posts that I read on here,the more I realised that my complaint was justified,and I sent a template letter-lo and behold complaint upheld.

I certainly will try to enjoy the cash,and wish you(and anybody else claiming) the best of luck.The banks and other financial institutions have been taking the" proverbial" for too long,but thanks to MSE,at last the ordinary punter has got some muscle behind them.

Tony

Octonut

amersall wrote: »

It could go either way really, but I hope they look at this favourably as you did put that you were self employed and this may count.

Thanks - that's the reason for all my complaints; I must be particularly dense thinking about it now.:o

amersall

Octonut wrote: »

Thanks - that's the reason for all my complaints; I must be particularly dense thinking about it now.:o

Join the club then as we all must be dense too :D

johnb0y

I wanted to take some time to contribute to the thread, and also to thank Martin and the MSE team as I realised I had the ability and confidence to place my PPI claims myself. I had 12 claims to submit, with all financial providers misadvising me on my health and telling me I couldn't have credit without PPI. Regretably I ended up in a spiral of debt, which I have now resolved, but PPI was a significant factor in making things worse. That said of the 12 claims, submitted in March. 5 have now come back with settlement offers.

Abbey National personal loan ended in 2006: 5,700
MBNA ended in 2006 (2 different cards): 3,200
Halifax ended in 2006 (credit card): 2,700
BOS ended in 2005 (credit card): 200

I do however have a question. The compensatory elements from Halifax and the BOS are unusually low. I received £40 fin the Halifax settlement and £12 in the BOS one. I thought they were obliged to pay 8% simple per year for each year since the card was settled. If that is the case wouldn't the compensation for Halifax settled in 2006 be 2660 x 8% x 6 (years) = £1276.80?

If my sums are right how do i challenge the final offer. With BOS the cheque arrived the day after the settlement letter so I banked it. With Halifax an additional 1,277 quid is a lot of money to ignore.

MBNA and Abbey (now Santander) appeared to have calculated it this way.

calw

tonybavaro wrote: »

I was self-employed at the time of taking out the credit card,and they were unable to show that I had requested PPI.They originally turned down the complaint out of hand via a telephone conversation with a very rude lady.I was about to abandon the complaint,but the more posts that I read on here,the more I realised that my complaint was justified,and I sent a template letter-lo and behold complaint upheld.

I certainly will try to enjoy the cash,and wish you(and anybody else claiming) the best of luck.The banks and other financial institutions have been taking the" proverbial" for too long,but thanks to MSE,at last the ordinary punter has got some muscle behind them.

Tony

thanks Tony:D its my hubbies card he is also self employed and we remember very clearly it was taken out back in 2003 via a newspaper cutting, he didnt tick the box for ppi as he knew it was no good to him, when he rang to activate the card the bloke on the phone tried to sell him ppi then said oh you cant have it your self employed, it's only recently after checking his online statements we noticed it on there, so I think the crafty so and so has slapped it on his account anyway :mad:

[Deleted User]

manama wrote: »

HOw strange....give them a quick call perhaps? Maybe different amounts have different checks ?

I've never managed to speak in person to them. The phone rings out and then I'm cut off each time and I don't have the patience to keep re-dialling over and over.:(
I'm guessing it's because I still have a current loan with them and they have to cancel the PPI and re-structure.
They said it will take up to four weeks from the date of acceptance, so I'm not worrying just yet.

amersall

I do however have a question. The compensatory elements from Halifax and the BOS are unusually low. I received £40 fin the Halifax settlement and £12 in the BOS one. I thought they were obliged to pay 8% simple per year for each year since the card was settled. If that is the case wouldn't the compensation for Halifax settled in 2006 be 2660 x 8% x 6 (years) = £1276.80?

With Credit card redress the card is set back to zero balance, any month that the card was in credit you do not get the 8% for, the 8% is also on a decreasing amount for each month from the date they are paying from to the redress date.
The 8% is taxable if you are a taxpayer, if the banks do not take this tax off before they give the 8% to you, then you have to contact HMRC to arrange to pay this.

Bleachbird

Hi all,
Want to say a big thanks to everyone on MSE. MBNA paying me £3184.98 back from ppi.
Just a note really, but I initially sent off for my T &C's and i hadnt ticked or signed for it. Only by chance did I ask them if I had ever paid ppi and I couldnt believe it when they told me I had for 3 years!! Just goes to show, even if you have never signed for ppi they do still take it off you totally without consent. Horrific practice. I would ask everyone to double check your accounts even if you know you have never asked for it.

Good luck.