PPI Reclaiming successes and failures

amersall

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

Send this by ordinary post, recorded has to be signed for and it will get caught up in the bank system and will delay your payout.

amersall

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.

I answered your other post

floozy362

Hi,
Just thought i would let you all know i had a £10,000 loan with egg from 2003, £2500 left to pay off last year, I had initially got my loan off the internet, and then when i had paid a bit off i upped it back to 10,000 to include my egg cards.

I sent off my claim last year for all my PPI back, stating that i was missold as you had no choice but to take it on the net, and also when i upped it, the guy said i had to take it or they wouldnt approve my loan.......

I was also made redundant and they wouldnt help with my payments....
Last year i received a cheque after 6 weeks of £7,800 and a few pence...

My advice........Go for it, they can only say no and you've wasted a stamp..........

Good Luck everyone, dont give up....but i have heard that ffter this year they will stop paying out, dont know how true that is for banks...but dont wait till then ...do it now!!!:beer:
:beer:

frazoz

bodoni wrote: »

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.

Can I ask exactly when you submitted your questionnaire to the FOS as I submitted ours in Oct but were told it would be a year from Dec and in March told they needed extra time and would respond by Sept.

Thanks

Albatross

Albatross wrote: »

Help!!!

I have been writing to Clydesdale Bank since November 2011 requesting details of my loan starting in 1999 and finished spring 2007, I do not have the account number (and I’m trying my own bank from my direct debit) and have provided a copy of my credit report showing my address, loan to Yorkshire bank, date opened and balance in January/ February 2005, I paid £160.00 per month so the loan was settled spring 2007.

I have received responses several details after my SAR request stating "please be advised that due to a passage of time we no longer hold any information in relation to your accounts".

My question is how long a bank should hold your information, at the time of writing the expiry of the loan would be less than five years, I get the impression I’m being fobbed off. Any advice would be helpful, FOS or CEO direction maybe?

PPI successes to date

Lloyds Bank Loan - £5400.00
MBNA CC £4600

To be claimed

RBS
Lloyds - loans x3
Yorkshire bank

Arrived home last night to find confirmation from Lloyds that they are upholding 3 claims dated 1989, 1997 & 1998, £4800 to be paid and cheque received this morning, included is the average £1200.00 payout from Lloyds, well chuffed.

Just waiting on Yorkshire bank and RBS:j

Ian_Arm

Here is my story. I took out a loan with Firstplus back in May 2005 for 43K. I had the PPI and the total premium was 11K. I kept up all payments and in May 2010 received all of my PPI back.

In Feb of this year I sold my house and settled the loan in full. It was such a relief not having the Firstplus millstone around my neck.

I kept getting calls from PPI claim companies (as I am sure everone else does) and always hung up on them but one time I decided to see if such a company could help. After explaining the circumstances I was told that I could not make a claim and the PPI claim company could offer no help as I had received all of my premiums back.

Anyhoo I had some time on my hands so decided just for the sake of it to write to Firstpus with a complaint. I downloaded the claim form from this site (make a copy before sending). Filled it in as best as I could stating that I did not want or need PPI when it was sold to me, explained that I was told at the time of application that this was and I quote "a fully protected" loan which is not the case as it only lasts for 5 years. complained that the PPI premium was front loaded onto the loan amount so that interest was also charged on the PPI and whenever the rates went up it made the monthly repayment higher because of the PPI.

So I waited for a response and it came within 2 weeks. Firstplus stated that there was no grounds for a claim, there was nothing that they could do and this was their final and full response (typical Firstplus).

Now here is a tip: Make a copy of your original claim form and copy the response from Firstplus. Send these with a very brief covering letter to the Ombudsman. Mine simply read please see my claim and totally unsatisfactory response from Firstplus. I would be very grateful if you could investigate this and let me know any outcomes.

3 weeks later I received a letter from Firstplus stating that they were willing to send me a cheque for £7,892 Great British Pounds. I sent off the acceptance last week and am now waiting for my cheque. Basically it is because of the interest that is charged on the PPI.

So in conclusion: Even if you received your PPI premiums back and you have completely settled the loan Firstplus still owes you money. Do not be put off by their first response but go to the Ombudsman.

So for the cost of 2 first class stamps I now have nearly 8 grand.

Forgot to mention that my loan was sold through a broker and this is what FP stated in their first response to my complaint. Just ignore this, it is a tactic used by FP to make you think that you have to go chasing another company. This is not the case. FP is responsible.

Good luck

Ian A

If you want the wording or form that I used PM me. This goes for anyone reading this thread

suenb90

suenb90 wrote: »

Followed Martin's advice to claim PPI paid my bank account flexi-loan, which I had only paid when I used the facility, and got back all payments made over the last 6 years + interest. Only £320 but spurred me on to claim for personal loan on which I made final payment in 2010!! I had paid PPI for the first 3 years of the 5 year term before I stopped it (in 2008) when I realised through media coverage that I didn't have to have it. I'd assumed the three years' payments were lost but recent adverts and advice on MoneySavingExpert suggested otherwise!! I followed your website advice and contacted Santander direct. I even contacted them on their email contact of the Santander website. Yesterday, only ONE WEEK later, I received a letter offering settlement which included all the payments made + the interest = £1239.46!! And it didn't even cost me postage!! Wow, why did I wait so long?
Thanks Money Saving Expert. You gave me the confidence to 'do it myself'. Great advice and tips.

PS. was paid direct into my bank account yesterday (one week later which included the Jubilee bank hols). Now i can have a holiday!!
If you think you may have a claim give it a go. don't wait any longer. the worst that can happen is 'no', or you could get your money back with compound interest! Good luck everyone!

diddldonna

Just wanted to thank everyone for your support and advice, you have all been very helpful.

Up date my cheque from Llyods/TSB of nearlly £8000 has arrived today. :j

For reference for anyone else, put in ppi claim by filling in the form here in April, called friday last week for the shock of the amount, got letter yesturday and cheque today. So quick.

I am so happy x

Please never use a claims company, this money is all mine apart for the bit for the tax man.

madmabel

diddldonna wrote: »

Just wanted to thank everyone for your support and advice, you have all been very helpful.

Up date my cheque from Llyods/TSB of nearlly £8000 has arrived today. :j

For reference for anyone else, put in ppi claim by filling in the form here in April, called friday last week for the shock of the amount, got letter yesturday and cheque today. So quick.

I am so happy x

Please never use a claims company, this money is all mine apart for the bit for the tax man.

Hi, how long did your cheque take to arrive? My offer letter from lloyds was dated 5 weeks ago and still no cheque

bodoni

frazoz wrote: »

Can I ask exactly when you submitted your questionnaire to the FOS as I submitted ours in Oct but were told it would be a year from Dec and in March told they needed extra time and would respond by Sept.

Thanks

Hi frazoz

The paperwork for the complaint was sent to Barclays in July 2011, (grounds for complaint were that I am self-employed) it was escalated to FOS in November 2011. FOS sent a questionnaire (even though I included one in my paperwork) on 22nd December 2011 and it was returned next day. I had an update letter in March 2012 saying it could take up to a year.

I called them last week and after speaking to a PPI processor and found out that Barclays had agreed to settle on 16th May - glad I phoned as FOS might have taken another week or so to let me know in a letter.

If you've not already done so it might be worth a call to FOS for an update.

I hope you get some good news soon.