PPI Reclaiming successes and failures

dolphingazer

Heyvenus wrote: »

I sent a speculative letter to Lloyds TSB in February 2012 with a loan number which I knew I had paid PPI on, dating back to 2001. With the letter went the standard FSA form, with a lot of information missing.

Eight weeks later I'm offered the princely sum of £16,200, which was considerably more than the original loan. Two weeks after that the cheque arrived. Now I'm debt free. I've no idea how they worked the amount out, but I've taken it!

My advice to anyone thinking of claiming is do it, do it now, even if you're in doubt. It cost me a stamp.

:j:jCongratulations heyvenus:beer:

Fantastic win. Enjoy:D

dolphingazer

vixonc wrote: »

I sent of my partner's PPi claim for Halifax at the beginning of May. He received a lovely letter yesterday. They are repaying him £5100 within the next 28days.

Will definately be coming in handy for a new car and holiday spends.

Very happy

:j:j:j:j:j:j

:j:jCongratulations on your win vixonc:beer:

I hope you find a lovely car and enjoy your holiday:D

Jaxholdham

Sent a letter to Halifax about 8 weeks ago, claiming PPI on an old credit card I had and received a letter in the post yesterday upholding my complaint they are sending me a chq in the next 28 days.

Just wanted to say thanks to everyone who posts on here as it really encouraged me to do this on my own, otherwise I would have gone through a company and paid 36% to them when all it took was one letter. I have a few more that I'm waiting answers for now so fingers crossed and good luck everyone!!:T:j

russruss101

Morning all, first time poster so be gentle )

Like all before me it seems, I finally took the plunge and wrote off letters to all and sundry. Barclays (with whom I had a loan years ago, as well as the dreaded 'Overdraft Protection') settled really quickly, and from them I've received just over £1000...so good news so far!

The question I have is with MBNA. I've received 2 letters from them in the last few days informing me that 'the complaint is being upheld in your favour'. Again, happy times...but then the section of 'we will contact you within 6 weeks' etc pops up.

Now, I'm not hedging my bets on certain figures, because until I have the cheques in my hand I'm not budgeting for them? But can anyone shed a little light as to roughly what I might receive, given the following:

Loan 1 - £401 payment Per Month, Paid for 19 straight months (settled early). PPI Premium would have been single person cover.
Loan 2 - £458 payment per month, Paid for 12 straight months (settled early). PPI Premium the same as above.

Now, I've read that the average PPI Premium is somewhere between 15%-30% of the loan? So can I assume (and I dislike assumptions...) that if say 15% of £401 is £60 - and I was paying monthly for 19 months, that the refund would be £60 x 19=£1140?

So sorry for the bombardment, but as MBNA are almost impossible to speak with, I cannot fully ascertain what my monthly repayment on PPI was!

And by the way, fantastic site, I cannot speak highly enough of it!

Still_in_the_red

littlepip wrote: »

Took the plunge and rang First Plus to ask for some information on an old loan I had with them, which I settled early about three years ago. The lady was really helpful and asked if my call was regarding PPI?. As I had no paper work my question was what type of PPI was it? She said I had a Single premium and that I had money owing to me having checked my details. She said I would hear from them in the next week or so with a figure. She said she was unable to give me a sum, only to say I had paid 45 payments of £55 approx of PPI. I am shocked at how simple it was. the call was less than 5 mins. I'm not celebrating until I see it in black and white. does this mean I will get back 45 x £55.00 = £2475 or Is there any added interest? Many thanks for giving me the confidence to claim.

Ive got a claim in with First Plus at the moment too. Spoke to them again this week to find out my complaint has been upheld but that they sent the letter to the wrong address!! So more of a wait while they post out to me again. They wouldnt tell me over the phone how much they're offering so Im trying to curb my imagination as i have no clue how much I'll get Good luck with getting yours sorted and hope the cheque is for a fab amount!!!!

Still_in_the_red

amersall wrote: »

You will get the whole PPI amount back, as you settled this early, they will have given you a rebate of the PPI, the remaining PPI was paid back to them by you in the settlement figure.
When you win redress they take the rebate back and you get the whole PPI amount back with the interest and 8%.
Looks like a tidy amount to come back :T:T:T

Hi Amersall, As one of the resident gurus on here i wondered if you could set me straight on something. Everyone talks about the 8% interest but on some posts, where they have shown breakdown of settlements, the interest is always higher than 8% of the ppi refund. Is it the interest compounded or something eg 8% for every year since the loan/cc??? Sorry to be so thick!!

hondaguy61

I held back for years thinking it would be a waste of time but finally took the plunge in mid- March.
I must admit to not using any template letters,though I'm sure they are very good, I simply downloaded the FOS questionnaire and submitted it with a covering letter ..
From a total of of 5 claims, all on credit cards, some closed and 2 still open... i have recieved £1186 from MBNA, within 8 weeks, £386 from Halifax in about 9 weeks, and just had a response from Barclaycard offering £2596... they have taken around 11 weeks
I'm still awaiting a final response from capital one, and to be fair i didn't send a complaint to them until mid April....They did acknowledge it after about 5 weeks and asked for a further 8-10 weeks to complete their enquiries.
I know its hard to be patient but it seems to be going well so far and i would encourage anyone considering a claim to go ahead..you've nothing to lose and a simple letter and questionnaire can really pay dividends

Still_in_the_red

Hi All,
Wanted to share some success!

I sent off a completed ppi questionnaire to First Plus after finding an old redemption statement for a loan i settled back in 2002!! I had no clue of the real details but thought I'd try my luck. My letter to them was dated 11th April. They replied in a letter dated 10 May but sent it to the wrong address. After a phone call chasing it up I have just received a copy of the letter.

They have offered £9123.45!!!!!!!!!!! To say Im ecstatic is an understatement :j:j:j

I posted a question earlier on this claim as i was wondering how it would work as i took out the loan with my husband and we have since seperated. For info...on their acceptance form they make allowance to make the cheque payable to one named individual as long as both of the original joint holders sign to say thats acceptable.

Thankfully in my case it is and my ex-husband is happy to sign and even happier at the share he will be receiving

Cant believe it has all worked out so well!!

I could have kissed the postman when he finally arrived with the letter just now!!!!! Am going for a lie down, the relief is too much to bare . I'm under threat of redundancy at the mo so whilst this doesn't get me completely out of the red it certainly helps.

I have two more claims in with HSBC for mppi and ppi on an equity release loan so fingers crossed the result is positive from them too!!!

Thanks to everyone on this site. It really does restore your faith in mankind when you see the dedication you all show to helping others - it's utterly heartwarming. :A

Good luck to all xxx

neffi

All it took was an email and less than 3 weeks later an offer of just over £3000.

Thanks to all the advice here.

dolphingazer

Jaxholdham wrote: »

Sent a letter to Halifax about 8 weeks ago, claiming PPI on an old credit card I had and received a letter in the post yesterday upholding my complaint they are sending me a chq in the next 28 days.

Just wanted to say thanks to everyone who posts on here as it really encouraged me to do this on my own, otherwise I would have gone through a company and paid 36% to them when all it took was one letter. I have a few more that I'm waiting answers for now so fingers crossed and good luck everyone!!:T:j

:j:jCongratulations on your win Jaxholdham:beer:

Well done for doing it all yourself and you get to keep all your money:D