PPI Reclaiming successes and failures

PuppyWonder

Hi Amersall

Thanks again for your advice:) I have contacted the FOS re: being outside the FOS Jurisdiction. Just waiting for their reply.

I'm not sure how reliable this info is, but i found this statement online at
http://www.collegiate.co.uk/v3/group/news/default.asp

"The Financial Ombudsman Service complaint form no longer asks consumers when they first became aware of a problem, raising fears that advisers could be hit with charges for cases falling outside FOS jurisdiction.
The ombudsman cannot consider a complaint if the complainant takes it to the FOS more than three years after they became aware, or could reasonably have been expected to be aware, of a problem.
Collegiate Claims legal director Martin Archer says: “Sensibly, the old complaint form required the claimant to provide three key dates to enable the FOS to assess whether the complaint fell within its jurisdiction, namely the date of the transaction, when they first realised there may be a problem and when they first complained.
“However, the new complaint form inexplicably no longer asks the claimant to confirm when they first realised there might be a problem. The ombudsman will no longer be alerted to whether the complaint potentially falls outside its jurisdiction under the three-year rule."


I have only recently become aware that there was a problem with PPI, only because of the Experts in the field raising awareness through the media. At the time of sale, the Advisor led me to believe that it was a "must have" and "tailor made" for me. So why would I have had any cause to doubt it? I thought this PPI was offered to me to ensure that my payments would be covered, should I be unable to afford them. I knew that this scenario was not likely to happen, as I had other means to pay, but reluctantly, as the Advisor insisted, "just for that added sense of security", I trusted the Advisor's judgement and took the PPI.

This has been quite a learning curve!



I will post again when I get a reply.

Thanks again Amersall....your worth your weight in gold:)

lazydaizy

Hi

Has anyone had any success with Marks&Spencer credit card PPI?

I was one of the people that had the original charge card that became a credit card. I was very unhappy at the time and complained but I was told I had no choice.

I have written to them and now had a rejection letter on the basis that say I filled an application form in at the store, which I did for a charge card, not the later credit card.

I never did query the PPI on it because I thought it was a standard issue/cost. I've even been off sick during the time I've had the card and not known it was relevant.

I would appreciate some feedback.

Alfie1

Hiya - wonder if anyone can help me with some figures?
I'd taken out a loan with HFC via PC World for a computer in 2001. Having been doing some tidying recently and coming across the form with a precrossed tick thought would chance my arm.

Although I had sent them a copy of the loan agreement they initially wrote to me saying my records had been destroyed in line with DPA and needed me to send copies of my bank statements to show that I had made all payments in accordance with the loan. I was unable to locate all of my statements but sent what I could going back to 2003 but more importantly did have a letter from HFC in 2005 thanking me for settling my loan in accordance with the agreement.

I've had a letter this morning offering my £15.74 back which obviously is far lower than what I would have paid so my intention is to refuse this!

before i reply i need to work out how much my original premiums were so need a bit of help if anyone can oblige?

The original loan taken was £986.98 with an interest rate of 1.52% APR of 19.8%. Monthly payments were £33.77 and the note relating to PPI states that PPI = 13.7931% of the monthly repayment.

I calculate monthly premiums to have been about £4.10 per month so should be entitled to £196.8 plus statutory interest but just wonder if someone brighter can confirm the calculations for me?

Thanks in advance

Confused_cate

amersall wrote: »

You will need proof of PPI that you have actually paid, do you have statements for this? you need to ask them why they are only paying this amount and how they worked this out to know why.

Thank you!!
I have had a look on my internet banking today and I used to be able to see all my statements back to 2002, now I can only go back as far as 2008. I am going to ask them to send a copy, as I think its a bit fishy!

[Deleted User]

Confused_cate wrote: »

Thank you!!
I have had a look on my internet banking today and I used to be able to see all my statements back to 2002, now I can only go back as far as 2008. I am going to ask them to send a copy, as I think its a bit fishy!

Statements cost £10 per copy and must not have been deleted from their records. If they no longer have them and you don't have them in your personal archive it's game over for you.

I expect the £406 they have offered relates to the information they do still hold.

janetnbecks

YESSSSS! Egg Cheque finally arrived today - we were notified of the win on 1st June with the promise cheque would arrive in 10-15 working days.
Today - 30th June - cheque arrived dated 12th June and letter enc was dated 26th June so the lady (in the mortgage dept) we spoke to yesterday who said it was posted 26th June at 4pm was right! However the postmark was 28th June so who knows!
Happy - now waiting for co-op to recalc cc PPI from 1997 - 2001 as we already have an offer for 2001-2011 but have statements (been waiting since 23rd May)

[Deleted User]

Alfie1 wrote: »

importantly did have a letter from HFC in 2005 thanking me for settling my loan in accordance with the agreement.

Unfortunately, this only proves that PPI was held by you at some stage, not that you actually made any payments.
You state you send some statements, but exactly how many and how much do they show you having paid?

Alfie1 wrote: »

I calculate monthly premiums to have been about £4.10 per month so should be entitled to £196.8 plus statutory interest but just wonder if someone brighter can confirm the calculations for me?

Again, you need to be able to prove that you made these payments.

Speedy999

What were you reclaiming: credit card
Who was the provider: MBNA
How much did you get back: More than 20k
How: Used FSA standard form.
Reason: ineligible to claim in terms of policy so should not have been sold it.
And then write your brief reclaim tale:
Sent in form - confirmation of receipt in 8 days, confirmation of claim value 5 days later and cheque 3 days after that.

Rather painless. 3 more to come back (Goldfish, Egg and Smile)

Confused_cate

Moneyineptitude wrote: »

Statements cost £10 per copy and must not have been deleted from their records. If they no longer have them and you don't have them in your personal archive it's game over for you.

I expect the £406 they have offered relates to the information they do still hold.

This account is currently still open and until this month I was able to view all past statements online back to 2004 so they do have all the information to hand.

[Deleted User]

Confused_cate wrote: »

This account is currently still open and until this month I was able to view all past statements online back to 2004 so they do have all the information to hand.

Typically, they keep records going back six years. Pity you didn't print off copies of those statements while you still could.
It's irrelevant whether the account is open or not.
Requesting individual statements will prove very expensive, as I already pointed out.