PPI Reclaiming successes and failures

magpiecottage

[QUOTE=Tingtong11;56159119
In 1990 I had to take out a PPI with my mortgage (it was a condition of the mortgage offer so had no choice!)
Iam still paying this & wonder if I have any recourse for compensation?[/quote]

No you don't. Lenders can make insurance compulsory as part of the mortgage package. If you don't like it you do not have to accept the package and can choose a different package/lender.

Tingtong11

magpiecottage wrote: »

No you don't. Lenders can make insurance compulsory as part of the mortgage package. If you don't like it you do not have to accept the package and can choose a different package/lender.

Thankyou for your prompt reply - one thing puzzles me....back in the day ALL mortgage lenders tied you to a mortgage PPI so it would have been pointless choosing another package?

little_diamond

little_diamond wrote: »

Sadly, I have reached week 15 today and still not heard from Lloyds as yet. They have 7 days to sort out my claim now.

Another update for those watching the Lloyds ppi complaints.

Because I am at the 15 weeks and 2 days point, (which leaves them just 3 working days next week to make a decision), I decided to telephone them this morning. I am really glad I did. She said it is in the final stages of the 2 loans I put in for, and a letter will be sent out by the 29th. She said it is a favourable outcome, which she said I will be accepting, she thinks.

Yes, I know I have to wait for the letter, and then the payment to arrive one way or the other....but.....its a worry off my mind, I should be able to pay a few outstanding bills when it does arrive.

Happy days!! :beer:

I hope this update is of help to anyone else out there reading this and is also in the final few weeks. There is a light at the end of the tunnel. :j

Seenderella

Seenderella wrote: »

PHEW! <

---

This sigh of relief is not only because I finally got an offer, but because I feel unlucky in most things and just think if I talk about something beforehand, I get jinxed. Thus I was watching this forum for a good 5 weeks in agony! :silenced: :laugh:

However, I swore to myself that I would narrate my story whichever way it went in the end just so onlookers like myself would be pushed to give it a try. Can I also add that I didnt realise this forum existed until about 2 weeks after I posted my claim, which means it really IS that straightforward and I didnt know about any 'tips' from here so to speak. I used the template from the front page and read all the instructions that came with it. I will give you a breakdown of the dates and amounts just to give anyone else an idea.

30th July - posted form by recorded delivery, think it cost me about £1.40?

9th August - received confirmation letter from HSBC stating they would take 8 weeks to look into the matter. Please note that this was postmarked 7th August. Another point to note is they sent another form for me to fill out but this was the same as the template from here. They DID state in the letter to 'fill this if you havent done so already'. So I assumed it was a standard letter that came with their response. I took a risk by not re-sending this form but deep down, I knew I could argue my initial form because I recorded it.

29th September - received offer letter which sounded more like they couldnt look into my matter directly, possibly because it was so long ago?, not that I am complaining.

So if we are going by postmarks then this whole process took 6 weeks and if we going by when I received it then it was 7 weeks.

The amount I paid in PPI was roughly £980 over a 5 year period for a loan I took out in 2003. I was offered roughly £1550, which is inclusive of 8% taxable interest. When I got the letter this morning, I was simply looking out for the word 'offer' and I chucked the rest of the leaflets in the air and run off to the postbox with my acceptance letter. :rotfl: I am told it will be paid into my account within 4 weeks of receipt of my acceptance so I promise to keep you all informed.

In other news, I just want to say thank you to Moneyineptitude and Amersall. Even though I never asked you a question directly, I still read your responses to others, which is hilarious at times , and I commend you for helping out. :beer:

Oh and cheers to Martin for his excellent work! :money:

Oooops that last date should have read 27th September, which was yesterday, and the post mark for that was the 21st September.

Thanks BethanyD, it really helps to hear all the experiences of others.

peanutbutter_cups

little_diamond wrote: »

Another update for those watching the Lloyds ppi complaints.

Because I am at the 15 weeks and 2 days point, (which leaves them just 3 working days next week to make a decision), I decided to telephone them this morning. I am really glad I did. She said it is in the final stages of the 2 loans I put in for, and a letter will be sent out by the 29th. She said it is a favourable outcome, which she said I will be accepting, she thinks.

Yes, I know I have to wait for the letter, and then the payment to arrive one way or the other....but.....its a worry off my mind, I should be able to pay a few outstanding bills when it does arrive.
Happy days!! :beer:

I hope this update is of help to anyone else out there reading this and is also in the final few weeks. There is a light at the end of the tunnel. :j

hi little diamond well done on getting your claim sorted xx
ive been watching yours for the past few wks as i have a claim in with lloyds myself but im only on wk 5 n i must say they have been the longest 5 wk s ever.
hope you get your payment soon n they dont drag it on then you can relax when its all sorted xx

fanno

my husband got a settlement figure from citi financial in July 2012 we sent back the acceptance form on the 13th July for £3800 and were told in the letter the cheque would be sent out in 10-15 days. It is now nearly October and we still haven't recieved the money. We have emailed them at least 10 times and sent various recorded delivery letters to them asking where the cheque is. We have phoned the number quoted on the letter but can never get to speak to anyone who will help, we are now thinking of going to the omubudsman to see what they can do. has anyone else had this experience with citi or any of the other financial companies.

Middy123

Arggghhh, typed a long response and then it didn't post :mad:

Quick update (again )

Argos - phoned today to chase claim and they have upheld it and offer letter on the way (562.33)

Capital One - whenever I go through the automated system it says my account doesn't exist!!! Anyone got an email for Capital One as all other avenues of contact seem to be drawing a blank.

Egg - sent off acceptance forms (860.00) on 6th August for their '10 to 15 working days' payout - still waiting. Phoned last week and was told that the customer service lady would chase the cheque - phoned today and got the new 'unable to contact anyone live' spiel so I've fired off a heavily worded email and see where that gets me.

I know it's been said several times over but really, it is just the cost of a stamp and some time and great support from this forum. I've had two rejections (Evans Santander and Renault Finance) which I am appealing and will go to FO if needed - but the 2 settlements I've heard of so far have totalled nearly 1500 (my pound sign won't work on here for some reason) so well worth the effort.

amersall

Moneyineptitude wrote: »

You mean ALWAYS CORRECT don't you?:p:p:p

I wouldn't go that far :rotfl::rotfl::rotfl::p

amersall

I just want to say thank you to Moneyineptitude and Amersall. Even though I never asked you a question directly, I still read your responses to others, which is hilarious at times , and I commend you for helping out.

We aim to please :D:D makes it worthwhile when appreciation is shown :T

[Deleted User]

amersall wrote: »

We aim to please :D:D makes it worthwhile when appreciation is shown :T

Do you think we should bill ourselves as a double act?;):D