PPI Reclaiming successes and failures

dolphingazer

:hello:Hello everyone.

Just got off the phone from Blackhorse to check they have received my acceptance form. It has been received.

I have been informed they are taking the full 4 weeks from receipt to process cheques because they are very busy at the moment.

saver2009

Just wanted to encourage those who took out PPI to make their claim and not think 'oh it's not worth it'.

I took a Egg loan in 2002 with around £4.2k in PPI - which I was told to take as I wouldn't get the loan.

I wrote a letter directly to Egg, got a response within days and asked to fill out a form with details of what I requested when taking out the loan etc. 3 days later I get a response from Egg telling me that I will be repaid £7.5k which includes the interest since that time!

What a result. Go for it everyone and forget going through solicitors, do it yourself and be quids in!

I had other cards during that time so I am also going to check these.

yeadonowl

Just thought i'd share my our first sucess.

other half always took ppi out on loans and credit cards so we have been going through some old paperwork and found details of a Marks and Spencer loan agreement letter with a copy of an application form. After following the instructions on here we have now received a cheque back for £2870. Took about 10 weeks in total from sending the letter to receiving the cheque.

i've now got a further 2 claims in with barclaycard and mint credit cards.

i've just got a quick question on the barclaycard claim. i've read on here that the financial institution only stores records going back 6 years and therefore are only paying that far back. From our paperwork we have confirmation from Barlcays that the ppi was taken out in 1994, this is by the way of an acceptance letter.

am i correct in thinking that they will have to calculate any claim from this date?

dlb

Have been waiting for ages to post on here...i have today finally got an offer from Natwest for a loan from 2002....i am over the moon, good luck to everyone still waiting....i am finally debt free!!!

[Deleted User]

yeadonowl wrote: »

we have confirmation from Barlcays that the ppi was taken out in 1994, this is by the way of an acceptance letter.

am i correct in thinking that they will have to calculate any claim from this date?

Since every case is considered on it's own merits (or lack of), it's impossible to give a definitive answer. However, since 1994 was 18 years ago, it's highly unlikely you'll get a payout at all unless you fulfil some or all of the following criteria:
You are still paying this PPI or were paying it up until recently.
The card is still active (or has been in the last six years)
You have comprehensive documentation (statements) detailing the payment of this PPI during the last eighteen years.
You have valid complaint reasons

It's even possible for the Bank to uphold your complaint and then refuse to payout on the basis that they have no records of your payment.

There are also instances where Banks have offered a "goodwill payment" because no records exist.

As I said at the outset, it's impossible to give a definitive answer, so you'll have to wait for the Bank's full and final response.

Rubella

Thank you MSE. I was very doubtful about being able to reclaim mis-sold PPI as I took out the original loan in 2001. I then consolidated the loan twice before finally paying it off. I had no paperwork at all. I simply printed off your letter template, sent it straight to the bank and hoped for the best. I could recall just how pushy the staff member was when selling the PPI. I neither needed or wanted it! Today I received an offer for the chain of loans - a total of over £6000. I am amazed and delighted - and all for the cost of a single stamp. :beer:

roksan

After paying mppi since the early nineties, i was recently in the unfortunate position of wanting to claim for the first time due to redundancy.

After receiving the claim form, i became frustrated and angry at all the hurdles and hoops one was made to jump through just to make a claim. Which at the time were never clearly explained.

So due to shear annoyance at what seemed a waste of money, that had been payed into a scheme for all those years i decided to complain.

Result after twelve weeks, total refund plus interest £6000.

There is justice in the world [sometimes]
Oh! yes, i have been lucky enough to gain new employment.

yeadonowl

Moneyineptitude wrote: »

Since every case is considered on it's own merits (or lack of), it's impossible to give a definitive answer. However, since 1994 was 18 years ago, it's highly unlikely you'll get a payout at all unless you fulfil some or all of the following criteria:
You are still paying this PPI or were paying it up until recently.
The card is still active (or has been in the last six years)
You have comprehensive documentation (statements) detailing the payment of this PPI during the last eighteen years.
You have valid complaint reasons

It's even possible for the Bank to uphold your complaint and then refuse to payout on the basis that they have no records of your payment

The basis of the complaint is that my partner was self employed at the time of the policy and didn't need .

The card is still active and the ppi was only cancelled 3 years ago

amersall

evadiva wrote: »

Hi Amersall and thank you for your reply, i went through the mis-selling checklist yesterday and then wrote a letter which i also posted yesterday, i put in my letter that at the point of sale there was no mention of account cover being taken out along with the storecard therefor no mention of a cooling off period either, also that i am and was at the time self employed and that i was at no point asked any questions regarding my employment status, which if i am right there should have been? Anyway il update here when i have a response, thanks again x

The letter you have done is fine, good luck x.

amersall

dolphingazer wrote: »

:hello:Hello everyone.

Just got off the phone from Blackhorse to check they have received my acceptance form. It has been received.

I have been informed they are taking the full 4 weeks from receipt to process cheques because they are very busy at the moment.

I rang them and said you are not in need of this money and that they could hold yours back until they get rid of the back log :rotfl::rotfl::p:p
That will serve you right for not paying your invoice, I sent it recorded too :p:rotfl::rotfl::rotfl::rotfl: