PPI Reclaiming successes and failures

Caseyface

Hi all

Here's my success story and this took LESS THAN A WEEK

• What were you reclaiming: PPI from a loan
  
• Who was the provider: Alliance and Leicester
  
• How much did you get back: All i wanted
  
• Did you get it back after a letter or did you go to the Financial Ombudsman: One letter only which i used from Martin's template letter!

I agree with M77

Without reading about everyone on this thread i would never have felt confident enough to take on the bank and win. I'm so happy i could kiss Martin Lewis! I posted the letter on Monday and got an offer through today....magic! :T

Thank you so much from the bottom of my heart!:D

di3004

Caseyface wrote: »

Hi all

Here's my success story and this took LESS THAN A WEEK

• What were you reclaiming: PPI from a loan
• Who was the provider: Alliance and Leicester
• How much did you get back: All i wanted
• Did you get it back after a letter or did you go to the Financial Ombudsman: One letter only which i used from Martin's template letter!

I agree with M77

Without reading about everyone on this thread i would never have felt confident enough to take on the bank and win. I'm so happy i could kiss Martin Lewis! I posted the letter on Monday and got an offer through today....magic! :T

Thank you so much from the bottom of my heart!:D

Well done to you, Congratulations, great and quick work.:beer: :T :beer: Fantastic.

Di
X

Caseyface

Thanks DI :beer:

Lloyds next

di3004

Caseyface wrote: »

Thanks DI :beer:

Lloyds next

Good luck with lloyds.;)

I have recently been successful with lloyds credit card ppi, so have hubby, he has one credit card ppi to go......, but then we are going to get on with the lloyds loan ppi.;)

Fingers crossed to you hun, if they fob you off first time round with a standard fob off response, write back to them, keep at them.:D XX

Caseyface

di3004 wrote: »

Good luck with lloyds.;)

I have recently been successful with lloyds credit card ppi, so have hubby, he has one credit card ppi to go......, but then we are going to get on with the lloyds loan ppi.;)

Fingers crossed to you hun, if they fob you off first time round with a standard fob off response, write back to them, keep at them.:D XX

Thanks, i feel so spurred on

I am going to continue with the ppi route first then try for bank charges.

I'll keep you posted.:D

di3004

Caseyface wrote: »

Thanks, i feel so spurred on

I am going to continue with the ppi route first then try for bank charges.

I'll keep you posted.:D

Good for you hun, you go for it.:T :T , we wish you luck with it all.:A

Di
X

Lusty

Turboman wrote: »

This is unbelievable--as is the amount of the existing PPI premium compared with the Cash Loan.

Post up as below and we'll analyse the figures:

1)-Date of agreement and Number of Months of Loan
2)-Date of first payment
3)-Amount of Cash Advance Loan / Monthly Pymt at outset / % at outset
4)-Amount of PPI Loan / Monthly Payment at outset/ % if different to above
5)-Total Loan Amount (not incl interest)/ Total Mthly Pymnt (as a crosscheck of above 2 to be sure) at outset
6)-Number of payments made so far
7)-Present Monthly Total Payment + %
8)-Exact figures & wording from your received refund letter (or telephone conversations) and dates thereof with refund amounts,8% amounts, & new arrangements etc
9)-any history you have of Interest Rate Changes in form of a list---

---

Date of Change/new amount/new %


Turbo

I'll give as much info with the paperwork I have available.

Cash Loan Loan for PPI Total loan
Loan £14,000 £6,153.59 £20,153.59
Mon p/ment £274.77 £120.77 £395.54
No p/ments 84 84 84
tot payable £23.080.68 £10,144.68! £33,225.36
APR 16.7 16.7
Total charge for credit:Cash loan £9080.68 PPI loan £3991.09
Annual interest rate 15.58%
This loan was started in February last year.
So 12 payments have been made so far and now I'm kicking up about the PPI and want it taken off,they want to put me on to this:
Loan amount £14355.92
Monthly payment £308.12
No of repayments 72
Total amount payable £22184.64
APR 16.7
Total charge for credit £7828.72
Here is a copy of the letter to them which will go in the post box Monday morning(any constructive comments or criticism more than welcome.)


Loan agreement Nos xxxxxxxxxxx(original one)
" " " xxxxxxxxxxxx(the one they want to put me on.
Dear Sir/Madam
As you know from our telephone conversation the other day,I have cancelled the PPI Insurance. You should also be aware that I’m also in the process of reclaiming my premiums back as this was miss-sold.
I have taken some expert advise on this because you want to put me on a new agreement WHICH would make my payments £33.35 MORE per month than I would have been paying if I stay on the original agreement minus the PPI premium.This equates to the sum of £2401.20 more over the course of the loan.
This is wrong because I shouldn’t have been miss-sold the PPI in the first instance.
I have been advised to send a copy of both sets of loan agreements to the FSO with a letter explaining my plight and copies of all correspondence regarding this matter up until now.
I don’t dispute I have a loan agreement with you and have kept to my commitment up to now.
I feel I should be paying the original monthly amount as agreed in the first instance and not being penalised with the extra £33.35 because of your banks policy and I have been advised that this is the way that any PPI refunds that are due to me will be clawed back and this is totally unethical.
It should be just a simple case of me paying you the monthly premium that was agreed in the first instance and not me being penalised because you wish to change the agreement.
This is why I have not signed the papers that you sent to me.
Yours faithfully
Mr Lusty

magiciansgirl

Hello everyone, jubilation here at MG Towers. :j

Won: £4023.76 repayment of 58 PPI premiums on £15,000 personal loan
Interest @ 8% £807.74

TOTAL: £4757.96

Lodged a claim with HSBC for misselling me PPI with a personal loan using Martin's wonderful template. I adapted it for my situation as at the time I was a) self-employed b) had Critical Illness Protection and c) Income Protection all via HSBC. It was strongly implied that I needed PPI even so, therefore in my complaint letter I said it showed a gross lack of care to a loyal customer.

I wrote just one letter, had immediate acknowledgement, interim response about their time aims, and the whole thing has taken just under 5 weeks.

I am SO SO grateful to Martin and all the PPI success-stories so far as I felt very scared about taking on HSBC; I have my mortgage and other things with them. I do now realise that I had a lot of right on my side but it is still hard to make that first move....

PLEASE PLEASE anyone who is similarly scared; just do it! Martin should be given a Knighthood..... :money:

magiciansgirl

p.s I also calculated how much I would pay if I did my own PPI and told them the difference, saying what they charged was exorbitant. (I love that word!)

soontobesensible

MASSSIVE THANK YOU TO MARTIN, THE TEAM AND ALL YOU PPI HEROES OUT THERE!!!!!!!:j :T :A :rotfl: :money:

THOUGHT ALL YOU CLAIMING BLACK HORSE FINANCE PEOPLE WOULD LIKE TO KNOW THAT FOLOWING MY PLACING A COMPLAINT WITH THE FOS LAST SEPTEMBER I HEARD TODAY THAT THEY ARE WILLING TO PAY ME £200 COMPENSATION ON TWO PPI'S I HAD WITH THEM, AS WELL AS:

a. CALCULATE THE AMOUNT I PAID IN RELATION TO THE OVERALL LOAN, INCLUDING FEES AND PENALTIES, AS WELL AS INTEREST AND REPAYMENTS-REFLECTING ANY PREMIUM REFUND ALLOWED ON THE CANCELLATION OF THE PPI POLICY;

b. CALCULATE THE AMOUNT I WOULD HAVE PAID IN TOTAL IF I HAD TAKEN OUT THE ORIGINAL LOAN WITHOUT THE ADDITIONAL BORROWING TO PAY THE PPI PREMIUM-BUT ASSSUMING THE LOAN WAS SETTLED ON THE SAME DATE(INCLUDING FEES AND PENALIES, AS WELL AS INEREST AND REPAYMENTS); AND c. PAY THE DIFFERENCE BETWEEN a. AND b.-PLUS INTEREST AT 8%PER ANNUM SIMPLE (FROM THE DATE THE LOAN WAS SETTLED TO THE DATE IT PAYS THIS COMPENSATION)-ALONG WITH A NOTE SHOWING HOW IT HAS CALCULATED THE AMOUNT CONCERNED.

THOUGHT I WOULD NEVER HEAR SO DON'T GIVE UP HOPE!!!!!!!