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PPI Reclaiming successes and failures

edited 6 June 2012 at 6:58PM in Reclaim PPI & Other Insurance
37.7K replies 7.7M views
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  • To everyone who thinks that they can't claim PPI back start reading this.....


    .....back in Feb i claimed back bank charges and after 3 months was refunded £700 - what a shambles be patient anyway got the confidence to request my PPI back. Downloaded Martin's template letter and off it went to the bank thinking it would take ages for a reply (like with the charges) i made a note of the date and carried on as normal.....two weeks later got a letter from Nat West stating that all the PPI had been taken off my loan and that my monthly repayments were changing they were refunding me £4,700!!!!


    (pick me off the floor!!) :p

    It was SO easy - if you have PPI go for it you can't loose :rotfl: :rotfl:

    there should be a Saint Martin Day!!!:A
  • gt568gt568 Forumite
    2.3K posts
    Part of the Furniture 1,000 Posts Name Dropper
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    **dawn** wrote: »
    To everyone who thinks that they can't claim PPI back start reading this.....


    .....back in Feb i claimed back bank charges and after 3 months was refunded £700 - what a shambles be patient anyway got the confidence to request my PPI back. Downloaded Martin's template letter and off it went to the bank thinking it would take ages for a reply (like with the charges) i made a note of the date and carried on as normal.....two weeks later got a letter from Nat West stating that all the PPI had been taken off my loan and that my monthly repayments were changing they were refunding me £4,700!!!!


    (pick me off the floor!!) :p

    It was SO easy - if you have PPI go for it you can't loose :rotfl: :rotfl:

    there should be a Saint Martin Day!!!:A

    So you only had to send 1 letter?

    When did you take out the loan?

    MTIA.
    :silenced: Down with the signature fascists!!:naughty:
  • I found out that my IPP was mis-sold when I became ill with Angina and decided to claim. I'd paid over 2 years premiums on a 4 year loan. I rang the Insurance Company who told me, straight away, that I'd been mis-sold the policy by Abbey.

    I approached Abbey, who weren't having any of it. I then got in contact with the Financial Ombudsman. It took months, but I was successful and received all the monthly payments, plus interest, plus an extra 1% above the Bank of England's interest rate. I received £1007. I was delighted.
  • RESULT!! Just received a letter from first plus saying that they would not accept liability for my PPI (they wouldn't would they?!) but as a good will gesture they will refund £1100.00 on top of the early repayment rebate i had already received. I expected to get nothing so i am taking the money and running!!!
  • gt568 wrote: »
    So you only had to send 1 letter?

    When did you take out the loan?

    MTIA.


    yes just one letter - had the loan for about 13 months
  • I have just received a letter to say that Alliance & Leicester are going to make a full refund (including interest) on the PPI which I took out in June 2006 when I topped-up my unsecured loan with them! I was led to believe that the PPI was necessary for me to have in order for my loan to be approved (I had PPI on the previous loan). Thanks to Martin and all you wonderful people who use this website the cancellation/refund of the PPI means that I benefit as follows:

    a.) My loan repayments have been reduced by over £40.00 per month. This may not seem a huge amount, but over the five years of the loan (at 10.5% APR), I will be saving approximately £3,000. The outstanding amount of my loan is now £23,000 instead of £26,300! That is certainly a step in the right direction in terms of reducing it!

    b.) I had got behind with the monthly repayments quite soon after taking out the top-up loan in June 2006 due to the unexpected and sudden breakdown of my twelve-year relationship and the loss of a second household income as a result. I was also advised to stop paying the monthly repayment by a company dealing with my IVA application as I was struggling to pay it each month - then the IVA was refused so it all went pear-shaped from there. Anyhow, the £4,000 arrears that I had on the loan has now been 'cancelled out' as the loan has been re-calculated over 56 months by Alliance & Leicester so no longer do I have arrears! Hopefully as I no longer have any other debt my credit rating will improve as I intend to pay the FULL amount each month to the A & L and not get into arrears again - things will be a bit tight admittedly, but at least I have overtime opportunities available regularly at work which helps plus a couple of monthly financial committments that can be reduced or are due to be paid off in a couple of months so that will free-up a further £65.00 per month anyway!

    c.) I'll be debt-free by June 2012! My aim and hope was to be 100% debt-free by the time I reached the age of 40. In June 2012, when I make my last monthly repayment, I will be 39.5 years old, so this aim and hope of mine IS achievable and realistic! Hurrah!

    Anyhow, the moral of the story is ....... if at first you don't succeed, try, try, try again. Originally when I wrote to A & L they refused to cancel/refund the PPI claiming that I was not mis-sold it. They claimed they had listened to the recording of my loan application and, in so many words, they claimed that their advisor had not told me that the PPI was a condition of the loan being approved. Anyhow, I wrote back strongly disputing this and requesting a copy of the recording, stating that I would be contacting the Financial Ombudsman if I didn't get a satisfactory result!

    Three weeks later the next letter that A & L sent me - received today - outlined how they could not provide me with the recording of my telephone application (surprise, surprise, I wonder why not?!!!), but 'as a goodwill gesture' they would cancel and fully refund the PPI and the interest on the PPI amount (10.5% APR) and set up my loan as a new loan to be paid over 56 months (instead of 60 months, to allow for interest, arrears etc). RESULT!!!!! I am well happy!!!

    So, don't give up, persevere ...... many thanks to Martin and all you lovely helpful people on this website, you have saved me £3,000 overnight (well, it all took about 12 weeks but I only wrote two letters to the A & L)! I never realised until reading on this website that PPI could not be sold as a condition of the loan being accepted and, if it had been (as was the case for me) it could be reclaimed. I didn't think I would get anywhere but thought I had nothing to lose by trying; am so glad that I did, I'm not normally 'lucky' with things like that! :T :beer:
  • :beer: Hi I have just had £200 refunded to my account by RED CATS who have all ready been fined according to this site. Though i didnt get the money back in cash it halved the amount i owed Vertbaudet mail order catalogue so im happy!

    To date £1085 from FIRSTPLUS and £200 from red cats!!!
  • Took out graduate loan for £7000 with HSBC when i left uni 3 years ago.
    Realised after reading on here that i'd been told PPI was essential to my gaining credit and not optional.
    Posted template letter to HSBC on 15th Aug and recieved confirmation yesterday stating that they'd upheld my complaint. Refunded £1400 (inc. 8% interest) Very impressed! I hope they'll now refund this to the actual loan but not sure if that's how this works.
    They didn't accept they were wrong but claimed there's nothing to prove i was properly informed.
    Very impressed with this, even if your not sure print off the letter and send it, they can only say no!
  • I have just had my offer letter from HSBC offering £1675 for loan PPI going back to 2002.

    I just wrote a template letter (from this site), sent it off and 4 weeks later they held up their hands and agreed that I had been mis-sold the PPI. This was due to my being self employed at the time and would have had no chance of ever reclaiming it. However, on telephone discussions with them, they have agreed to refund me more on the point that I felt I had been mis-sold it and pressured into it by branch staff in order to get the loan.

    I am stuck in the "queue" reclaiming my current account bank charges. How easy this was compared to reclaiming them!

    Thanks to all at MSE who make the process so easy by providing template letters etc.
  • Thanks for sharing your success stories with us. This will give us the insentive to do the same.
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