PPI Reclaiming successes and failures

[Deleted User]

In order to work this out you'd need to know the interest rate charged on the loan.
From your figures it looks like a PPI policy loan of £4,000 was added to your starting balance. This will be repayable in full and they should also add any extra interest this will have accrued as a result of being front-loaded onto the loan.
In addition you'll net 8% simple interest, so it looks like quite a tidy sum..

di3004

payslip999 wrote: »

Hi

Have you contacted them to find out about this?

Ask for a written breakdown to see what is what with the PPI, as they said the payments were stopped, and yet the repayments stayed the same, I would ask why they have not reduced the monthly repayments if that of the PPI was removed from the balance.

Was this loan or credit card ppi?

It was a credit card.

Hi

In this case, then maybe that is why, the ppi is not there but you no longer will be paying for the ppi, the monthly repayments will therefore stay the same (unless of course the card is still in use and you still use the card).
Even though you were paying for ppi, you are now only paying for the credit card, what you use etc.
When you taken this out, unlike a loan it generally shows on the agreement the amount of ppi added to the loan, but ppi on a credit card would vary each month depending on the balance.
On a credit card agreement, from what I can remember, even though it states, ppi is taken, it does not show the amount, because as said above, the amount will vary from month to month.

Hope that makes sense, but maybe someone will be along to explain in better details than myself lol.;)

di3004

swimmer66 wrote: »

Well done all just starting my ppi journey don't think I will have much luck but you never no .

This might be a stupid question but here I go .

I had a mbna cc starting in 2001 and defaulted in 2008 owning near enough 13,000 which I have been paying back over time near enough £200 a month but with no interest or expenses added so I have a about a year left to clear.i rang mbna about something and in the mean time I asked if I had ppi on the cc which they said yes and are going to send me a questionnaire in the next 5 days.i was wondering during 2001/08 I had ppi I did not know I had what would have happened if I got made redundant or became ill during that time ? Also what happens if I got made redundant or I'll while I'm on default has the ppi stopped ? .lucky I have work cover but just wondering .

Hi there

If you were still paying for ppi when the account went into default, I take it this was because you missed payments due to difficulties at the time?
It appears going by your post, you did not know you had ppi, if you had, then maybe you could have made a claim, for example, sickness/unemployment etc.
When you receive the questionnaire, make them aware of this and also confirm, you had questioned this to MBNA over the telephone because you were not aware that you did have PPI, so therefore want to make a reclaim on all ppi premiums you have paid and the relevant interest.

The ppi was probably still included on the loan balance even when the account went into default from what I know.

Good luck.

Liamly

Hi all,
I phoned Lloyds TSB 2 weeks ago about 4 off loans i've had with the first being back in 2004. I gave them details of the loan and why i thought i had been mis-sold PPI (wasn't explained fully, wasn't asked if i required it due to work sickness package, redundancy package, felt pressured to take it).
I received the 4 loan agreements yesterday and a couple of them were pre-ticked boxes on PPI, one was ticked by me and the final one shows no details of PPI option. Some of these show my signiture which i recall doing in the bank but i still feel i've been mis-sold. I am going to speak to my company to see what info they can provide with regards to showing i had a good sickness and redundancy cover.

Can you fellow PPI(ers) help/advise if you have had similar sceanrio and success? Also is there anything else i can do to back up my claim?

Thanks guys and congrats to all who have had success!

rusty20

Good Morning All, having read all the information on PPI I submitted a claim to Opus (account previously held with Associates, Citi Credit Cards) the claim has been refused on the following grounds:

The application process did not require you to take CRP as a condition of acceptance
The application form did require you to positively confirm that you wish to purchase the policy
The application pack provided you with a copy of the full terms and conditions of the CRP policy. It was recommended that you read the insurance information carefully and that I had the right to cancel
We can confirm that you applied for the insurance by selecting the product on your application form. As a result no advice was given to you by an agent and that Citi were therefore acting on instructions provided by you in your application form.

It is not unreasonable to expect customers to read the policy information provided when they have opted for the product of their own volition.

We are sorry to inform you that on this occasion we are unable to uphold your complaint as our investigation shows that you were given the option to accept or decline the policy. You were also given all the insurance documentation to enable you to make an informed decision about whether or not to purchase the policy. Therefore your complaint has been closed.

I suspect this is a standard letter as I received the response less than 5 days after sending my complaint.

Whilst I do recall applying via an application form, I'm sure that a call took place to confirm my application and as I had both company sick pay, critical illness cover it was not clear and the card provider did not asertain if this was the case.

Where can I go with the claim now?

Many thanks

Paul_Grace

HSBC Sucess....sort of

Hi,
HSBC have upheld my complaint for a flexiloan from 2000 -2006 but only for 2005 /06

Will a SAR request give me more info as HSBC say in the letter they only keep records for 6 years.

Can I get any info from a SAR's to get back to 2000?

Cheers

Paul

swimmer66

di3004 wrote: »

Hi there

If you were still paying for ppi when the account went into default, I take it this was because you missed payments due to difficulties at the time?
It appears going by your post, you did not know you had ppi, if you had, then maybe you could have made a claim, for example, sickness/unemployment etc.
When you receive the questionnaire, make them aware of this and also confirm, you had questioned this to MBNA over the telephone because you were not aware that you did have PPI, so therefore want to make a reclaim on all ppi premiums you have paid and the relevant interest.

The ppi was probably still included on the loan balance even when the account went into default from what I know.

Good luck.

Hi there

Many thanks for the reply .

Reason for going into default was my silly fault due to living of the credit cards and maxing them out and the interest catching me up .

I have stayed in the same job over the period of having the cc but claiming due to the fact I have life/sickness/ and working for a law firm always give good redundancy packages so never needed PPI cover .

On my statement each month I get while being on default there is no mention of PPI so that why I'm wondering if it has stopped if so they have never sent me this in writing is that something I can put in the questionaire once I receive it ?.

di3004

Liamly wrote: »

Hi all,
I phoned Lloyds TSB 2 weeks ago about 4 off loans i've had with the first being back in 2004. I gave them details of the loan and why i thought i had been mis-sold PPI (wasn't explained fully, wasn't asked if i required it due to work sickness package, redundancy package, felt pressured to take it).
I received the 4 loan agreements yesterday and a couple of them were pre-ticked boxes on PPI, one was ticked by me and the final one shows no details of PPI option. Some of these show my signiture which i recall doing in the bank but i still feel i've been mis-sold. I am going to speak to my company to see what info they can provide with regards to showing i had a good sickness and redundancy cover.

Can you fellow PPI(ers) help/advise if you have had similar sceanrio and success? Also is there anything else i can do to back up my claim?

Thanks guys and congrats to all who have had success!

Wishing you luck on your reclaiming.
They should forward you a acknowledgement letter and reference, so if you want to forward further information to them you can do so.

So I take it now you are just waiting for the above letter to confirm your complaint?

Let us know how you get on, fingers crossed.:)

di3004

rusty20 wrote: »

Good Morning All, having read all the information on PPI I submitted a claim to Opus (account previously held with Associates, Citi Credit Cards) the claim has been refused on the following grounds:

The application process did not require you to take CRP as a condition of acceptance
The application form did require you to positively confirm that you wish to purchase the policy
The application pack provided you with a copy of the full terms and conditions of the CRP policy. It was recommended that you read the insurance information carefully and that I had the right to cancel
We can confirm that you applied for the insurance by selecting the product on your application form. As a result no advice was given to you by an agent and that Citi were therefore acting on instructions provided by you in your application form.

It is not unreasonable to expect customers to read the policy information provided when they have opted for the product of their own volition.

We are sorry to inform you that on this occasion we are unable to uphold your complaint as our investigation shows that you were given the option to accept or decline the policy. You were also given all the insurance documentation to enable you to make an informed decision about whether or not to purchase the policy. Therefore your complaint has been closed.

I suspect this is a standard letter as I received the response less than 5 days after sending my complaint.

Whilst I do recall applying via an application form, I'm sure that a call took place to confirm my application and as I had both company sick pay, critical illness cover it was not clear and the card provider did not asertain if this was the case.

Where can I go with the claim now?

Many thanks

Hi there

If this was sold to you after Jan 2005, you can ask for a copy of the telephone calls, maybe worth a shot, I was lucky to receive some from a good few years back.
Although another option would be to request a Subject Access Request (SAR) so any calls made would be listed within the paperwork and of what the conversation was about, they should be there anyway.
A SAR they must send you data in relation of the account by 40 calendar days, you enclose the one off payment of £10 cheque or postal order.
There is a link/thread to this template letter below.
https://forums.moneysavingexpert.com/discussion/1475553

Meanwhile, if you was not given the final response, you can try writing back to them and tell them despite their decision with the reasons they given to reject your complaint, you still believe you have grounds to make a reclaim, because you do believe you were mis sold.
You could also add that you can recall receiving a telephone call in relation to the account and it was in regards of being sold the PPI, in order for the application to go through.

Keep at them.
In the final decision, they should enclose details of the Financial ombudsman service (FOS) or let you know if your eligible to complain to them or not, yet some will still consider reviewing if you have further information to give.

Good luck.

di3004

Paul_Grace wrote: »

HSBC Sucess....sort of

Hi,
HSBC have upheld my complaint for a flexiloan from 2000 -2006 but only for 2005 /06

Will a SAR request give me more info as HSBC say in the letter they only keep records for 6 years.

Can I get any info from a SAR's to get back to 2000?

Cheers

Paul

Well done Paul.;)

There is no harm in giving it a go, if they're unable to send anything in relation to the account, they should return your payment you made for the request, and a letter to explain.

SAR letter template here, good luck.
https://forums.moneysavingexpert.com/discussion/1475553