PPI Reclaiming successes and failures

dolphingazer

hondaguy61 wrote: »

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

:j:jGreat wins hondaguy:beer:
Well done. Enjoy:D

dolphingazer

Still_in_the_red wrote: »

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

:j:jWow congratulations Still in the red:beer:

Enjoy your money and I wish you well for the future:D

dolphingazer

neffi wrote: »

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

Thanks to all the advice here.

:j:jThat's brilliant news and so quick neffi:beer:

Well done:D

jon_mel_logan12

Just had our offer through from NRAM (two loans with them, one of which is still active!)so we are just waiting for the money to be passed over now!

So far 2 victories!! We are just waiting for Mint and that is us done!

Thanks to everyone at MSE, everyone on the Forums!

diddldonna

I am in a big of shock and abit like i dont know weather to believe it or not until i see it for myself. I tried telling my husband through the tears, the look of panic of why i was crying was a picture.

I phoned up llyods/tsb on the off chance after putting in a claim with them in March and the lady on the phone said a letter was sent out on the 28th May and i am pleased to let you know that your claim has been successful with the amount of £7000+ i only got the £7000 part i know there was some bits she added after that but i lost it by then.

I really hope this is true but dont want to say anything to anyone or think about it much until i get the letter in my hands.

I really wasnt expecting that maybe £1000 but to be honest i really dont know how much i was paying and how long for so really had no clue, this would be great for us if this is true.

Also my hubby said we probally will have to pay tax on that, how would you do that?

PS: To update hubby said call back explain and see what they say and she was lovely and calm and said am i sitting down, lol. She said the amount is £7838 and to have a lovely weekend. I am so excited x

Also just another question, would the money go in my bank or would I get a cheque? I know I will have to wait for the money but I just wondered which way they did it.

I also want to thank this site as before I found this site I was thinking of going through a claims company, it is so easy to do it on your own so anyone thinking of going through a claims company Don't!

Celso

Hi,
I got into a loan and credit card snowball thanks to an evil ex who took advantage oh my clear credit history upon my fresh arrive to the UK. So when we broke up he left me with a loan to pay and £4000 on the credit card.

After looking through all the post here I thought I had a case on PPI complain.
I put a claim on PPi on a loan and a credit card, both from Lloyds. The credit card was uphold but the loan was not. I thought it would might be the opposit accordint to the posts I read here.

The reasons I gave for mis seling was that the person dealing with my loan, by the phone, did not mention that the policy was optional and was very pushy not giving me any chance of questioning and making me fell intimidated as English is not my first language (well, and all the technical terms dont help), and felt that that could affect my application.

in the letter they sent they wrote:

"Optionality - relation to complain point 1

I can confirm that it has never been a requirement to take out a PPI policy in order for a loan application to be accepted. In, addition, taking out a PPI policy would not have improved the chances of your application being accepted.
I am also aware that your costume credit agreement clearly demonstrate to you that your PPI was optional and I have concluded that the adviser did not mislead you in any way.
I have therefore come to the conclusion that you were made aware of the optional nature of your PPI policy.

Pressure - relating to complain point 2

I note that your allegation is you felt pressured into purshasing your policy.Having reviewed all the evidences available I am not able to conclude that the sale was pressured.
It should also be noted that having reassessed your demands and needs it is apparent that the policy was suitable. It therefore follows that the adviser's recommendation that the policy should be taken was not incorrect."

Could anybody tell me if Im wrong in trying to carry on with the claim, or its a lost case.

I always had big difficulty in dealing with people on the phone. Should I just forget about it, even when I think that I was too naive to understand that I could take that policy from somewhere else?

My reasons for the claim on the credit card were nearly the same as the ones for the loan so why one was ok and the other was not?

Any help well apreciated.

Celso

dolphingazer

diddldonna wrote: »

I am in a big of shock and abit like i dont know weather to believe it or not until i see it for myself. I tried telling my husband through the tears, the look of panic of why i was crying was a picture.

I phoned up llyods/tsb on the off chance after putting in a claim with them in March and the lady on the phone said a letter was sent out on the 28th May and i am pleased to let you know that your claim has been successful with the amount of £7000+ i only got the £7000 part i know there was some bits she added after that but i lost it by then.

I really hope this is true but dont want to say anything to anyone or think about it much until i get the letter in my hands.

I really wasnt expecting that maybe £1000 but to be honest i really dont know how much i was paying and how long for so really had no clue, this would be great for us if this is true.

Also my hubby said we probally will have to pay tax on that, how would you do that?

Donna x

PS: To update hubby said call back explain and see what they say and she was lovely and calm and said am i sitting down, lol. She said the amount is £7838 and to have a lovely weekend. I am so excited x

:j:jAh diddldonna that's fantastic news:beer:

Thanks so much for sharing that with us all. Congratulations:T

amersall

russruss101 wrote: »

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!

:beer: congrats on the Barclays :beer:
With both Loans you get the whole PPI amount back less the rebates they gave you for the early settlement plus the 8%.

amersall

Still_in_the_red wrote: »

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!!

You are not thick you don't know unless you ask I have been called a lot of things in my time but never a Guru :rotfl:

The 8% is on a decreasing scale for each month that you had the Loan from start date to the date they pay you the redress.
If the Loan was from a long time ago, then the 8% will be more.
As you get nearer to the redress date this 8% is less.

With a Credit card, they reset the card to zero balance, any month that you had a credit balance on the card, you do not get the 8% for those months.

amersall

Still_in_the_red wrote: »

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

:j:j:j:j Brilliant news :beer::beer: love a win with FP :cool:
Enjoy it :D