PPI Reclaiming successes and failures

Still_in_the_red

cragdoo wrote: »

I had a total of 5 loans between 1999 and 2001 (consolidation chain loans) and managed to pay the load off in full in 2004. Thought I'd have a go at re-claiming PPI. Sent off a claim form on April 17th , and still hadn't heard anything , so decided to call Welcome Finance for an update. I was informed that my accounts are 'time barred' meaning they were all started before the Feb 2003 deadline. The advisor said I could take it to the FSO but they would likely reject my claim as well.

Hi Cragdoo.
Im sure one of the gurus on here will reply fully but i just wanted to say i have just had a complaint upheld by First Plus for a loan that i took out prior to Feb 2003.....wonder if its Welcome just hoping you give up?? I'll be interested to see the posts from Amersall and Di and others...

phil_coxon

Started a claim against HFC bank mid April,called the number given on this site I had no paperwork or account number.
The lady I spoke to confirmed we had ppi and told me our account number and that HFC were going back indefinetly .
So they sent me a complaint form which I sent back about 3 weeks ago having no idea how much ppi we had paid--got a letter today saying they were upholding our complaint to the tune of £892--happy days.
The main reason I am posting though is the loan was paid off in 2004 so anyone else with old loans with HFC it's certainly worth giving them a call-as I said I had no paperwork whatsoever.:beer::money:

mazzymatic

Hi all,

First time I have bothered to join a forum like this but I am just so grateful to MSE right now that I had to join and post! After years of paying a very expensive loan that felt never ending I followed Martins simple steps to reclaiming the PPI from it. I printed the forms and filled them in. It took me about 3 days in all to put a decent case as to why I felt I had been missold, and I sent it with little hope of a response. I got the mandatory letter 4 weeks ago saying it was being looked into, and with the deadline of this Saturday fast approaching I was losing hope....... until...... the post man came!!! I have been given £17,259 back!!!! Yes you read that right £17,259!!!!! I am sooooo happy right now as that will pay off the dreaded loan, and wipe out pretty much all our household debt, except one credit card but it has a very good API so wouldnt get rid of it anyway, and the obvious mortgage which one can only dream about getting rid of!
My advice to anyone thinking of claiming would be to stop putting it off and thinking you wont get anything back, and to make sure you reiterate how much interest you have lost by them having your money and not you as they certainly included that fact in my redress amount as I made a BIG deal about it in my claim questionnaire!!
Well I have to wait 4 weeks for the money to enter my account but I'm off skipping all the way to the post office to send my acceptance letter back via recorded mail guaranteed before 9am lol. xx :j

alf11

Hi there,
I have just has a letter from Santander regarding my Dorothy Perkins and Top Shop Accounts. In which they state that due to the length of time that has elapsed since I used the account, all data relating to this has been reomved from their records. Hence, they cannot investigate further.

With regards to my House of Fraser Account they have confirmed that PPI was added to this account.
They say that once a customer has decided to take the product, a policy summary and dcument is mailed to the customer for their review. They also stated that they offered a 30 day no quible guarantee where the product may be cancelled, and any other premiums refunded. They say this alows time to compare the product to that of any other insurance companies.
They also say that in relation to my reference to the sales process in stpre, there was no requirement upon themselves to record the sales process, and so they have no way of knowing what took place in Janurary 1997.
They also state that the insurance has been clearly shown on my statments and that I could have cancelled at any time. As they can find no eveidence of misselling they are unable to refeund the premiums applied to the account.

Worst thing about all this is that I was only 19 at the time I took out these store cards and was only a student. I was very young and vulnerable and got into a lot of debt.

Do I just give up or keep fighting? What is my next step?

bodoni

FOS response

I have received a letter from FOS advising that my complaint with Barclays for a Morgan Stanley card has been upheld without going to adjudication (apparently Barclays agreed to settle). There was a settlement form that has been returned to FOS and now I wait for Barclays to contact me with their offer.

What's really irritating is that this has gone on for nearly a year and it's obvious that Barclays have used delaying tactics and a 'who blinks first' approach to my claim and no doubt many others.

I have two other Barclay claims with FOS, both at an advanced stage and I am hoping that Barclays will do the same thing with these and agree to settle before FOS begin the adjudication process.

I am pleased, obviously, that this is now reaching conclusion and FOS have outlined in their letter that will be directing Barclays to pay all premiums, 8% and compound interest but still annoyed that Barclays have used every trick in the book to make this a long drawn out episode.

On a happier note, in the last week premiums and interest on a MortgageCare product that I had with Bank of Scotland has been settled and cheque 'should' be on it's way and an old Personal Reserve account with Amex has been settled with a goodwill payment on it's way also.

I guess the moral of the story is that when dealing with a Barclays rejection don't give-up and use the channels available to get your complaint upheld.

All the best to those in a similar position.

Emmmylou

Emmmylou wrote: »

Got back from doing the Asda run this morning to a letter from Santander .
Up held on the alliance & Leicester to the sum of £ 4152.
Just got to sign acceptance and they say within two weeks .

Not bad for three weeks .

Just waiting on the other . Fingers crossed !'!!!

Money went in the bank this morning so it's been just over four weeks since sending the acceptance form back .

On the other abbey loan just had uphold letter to the sum of £5350
So acceptance went back to them today.

Also had a loan from look again catalogue in 2002 . Still had all the paperwork so sent in a complaint to them as it was front loaded and had it up held and cheque should be within 28 days .

So in the space of about six weeks we are now £ 11000 better off.

Thanks to all for the advice that I have read as I wouldn't have had a clue without you.:D

Top-ranking_Bug

cragdoo wrote: »

..... . I was informed that my accounts are 'time barred' meaning they were all started before the Feb 2003 deadline. The advisor said I could take it to the FSO but they would likely reject my claim as well.

Can someone clarify this "time barred" thing? I keep reading on here about people claiming on loans etc going back before 2000. I didn't know there was a time limit.

amersall

dcostin wrote: »

Hi there

I have just received a letter with details of a refund offset against a claim that had been made and paid out on the policy.
Am i correct in assuming that this is the correct way for this to be calculated or should i be considering going after the premiums that have been offset by the claim payout aswell.
Many thanks for any advice.
Dave

This is correct if you made a claim on the policy, sometimes it is the case that the PPI was the same or less than the claim they paid out, this looks to be what has happened with yours.
They have to put you back in the position you would have been without the PPI and they have done this.
They paid you the money at the claim date and now they have taken it back, have you got the breakdown of what the PPI amount was and the claim amount?.

amersall

Top-ranking_Bug wrote: »

Can someone clarify this "time barred" thing? I keep reading on here about people claiming on loans etc going back before 2000. I didn't know there was a time limit.

In some cases and depending on the bank, people have won mis sell from the 90s, having said that, some banks were not regulated at the point of sale until 05 and this makes them time barred due to the year, they do not have to repay mis sell PPI and the regulators cannot make them, this is the short version!.

amersall

They say that once a customer has decided to take the product, a policy summary and dcument is mailed to the customer for their review.

They cannot use this as a reason for mis sell, get back in touch with them and tell then you reject the decision and say you will be passing this to FOS to look at.

I was only 19 at the time I took out these store cards and was only a student. I was very young and vulnerable and got into a lot of debt.

Were you working less than 16 hours? if you were you need to state this too.