PPI Reclaiming successes and failures

JGGT

I have just received £18,000 yes £18,000 back from the RBS for mis selling me PPI on loans over the past 10 years.... Amazing result! I followed the simple steps on the MSE and within 8 weeks I had my money back. I had no knowledge of ever having PPI on any of my loans, and just wrote to my bank using the template letter that Martin has made available and they sent me everything I needed to progress my claim. They even sent me my pound back that I had enc as recommended!

When consolidating my loans over the ten years the RBS were just adding the PPi. I had never claimed on it, as I did not know I had it, and I would never had needed it as my employee benefits provide me with more than sufficient cover if ever I needed it.:

Don't ever use those claims people, my friend did and it cost her 40% of her claims money and all as they did was fill in the same claim forms as are available on MSE and she had to sit there with them to do it, so do it for yourself and save up to 40% of your own money. I thought it would be very complicated and take forever, believe me it was not and it did not! MSE made it so simple, and the results speak for themselves. £18,000!

collins25

I have just received an offer from loans.co.uk the premium was added to loan as a single payment of £2,888 the loan is for 15yrs and the ppi ran out after the first three years much to our horror as my husband was made redundant.The monthly amount added to loan repayment is £45 and we have been told that will not change. My calculations make the amount owed to us £8100 plus 8% interest they have offered £6375 as their first and final offer.They calculated £2888 plus interest £2680.89 plus 8% £809.91.They also say that we must continue to pay any outstanding amount with respect to ppi to the term of the loan because we want moneys paid direct to us what do I do?. Reject offer and then do I have to re-claim or do I have to go straight to Ombudsman.Can anyone help me please as I will be £2500 out of pocket.:mad:

nee666

Had an offer of Just under £5k from HSBC :T my question is there's a chain of loans, I have no details of the 2 in the middle apart from the account numbers, I did point out that the loans were in a chain & that they should all be treated as a chain, but they've ignored the 2 in the middle, what can I do?

JGGT

My claim was for consolidated loans over a period of 10 years. What I did was complete a claims form for each individual loan. My bank sent me list of all loans associated to my current account, each loan had a separate Account number and I completed a claim form for each account number. I had no PPi policy numbers but the bank did the work on that themselves through the investigation of my claim. All you need is a start date of each loan renewal and the amount. My loan chain was 4 and I was paid out on each, and also got the 8% compensation on each.

amz2013

If on a loan statement it gives the amount borrowed as xxxxx then underneath ppi xxxxx does it mean that ppi was front loaded and you get 8% back if upheld every year from the date u took it out?

Ivrytwr3

Hi all,

Although i have read and heard about PPI claims i have never bothered myself to go for it! Both wife and I have credit cards, loans and a mortgage and have done so for many years.

However, looking at the form kindly added to the MSE.com i don't have all the details for what we have had and we currently have ie account numbers, figures etc. Can i send off a blanket form to teh lenders we know we were with and let them do the digging?

I really could do with some help and advice on this!

Thanks all.

-taff

amz2013 wrote: »

If on a loan statement it gives the amount borrowed as xxxxx then underneath ppi xxxxx does it mean that ppi was front loaded and you get 8% back if upheld every year from the date u took it out?

yes if you paid it alltogether as one monthly payment.
https://forums.moneysavingexpert.com/discussion/1596473

-taff

Ivrytwr3 wrote: »

Hi all,

Although i have read and heard about PPI claims i have never bothered myself to go for it! Both wife and I have credit cards, loans and a mortgage and have done so for many years.

However, looking at the form kindly added to the MSE.com i don't have all the details for what we have had and we currently have ie account numbers, figures etc. Can i send off a blanket form to teh lenders we know we were with and let them do the digging?

I really could do with some help and advice on this!

Thanks all.

Why don't you phone them up and ask if you had it before you start making complaints about it?

BookWorm

Hi there. I've only discovered this site in the last few months and have mainly been lurking in the wings. However, I wanted to share my good news and so have plucked up the courage to 'step out of the shadows'

Here is my PPI relaim story

What were you reclaiming: PPI on a loan going back to 2001
Who was the provider: Natwest
How much did you get back: Around £350
Did you get it back after a letter or did you go to the Financial Ombudsman: All it took was one letter (well form from the Natwest site) and 8 weeks patience

Now I'm sure you may not think £350 isn't much but I'm amazed that I got anything at all - especially since my loan was from so long ago. The loan was for £1500 (and so not that much compared to many) so I could buy my first car. I didn't even have the loan for the full term as I paid it off after about 18 months when I could afford to do so. That means that it's over 10 years with no activity on the loan account. Just goes to show that it's always worthwhile putting in a claim!

It really was very easy. I just downloaded a form from the bank's site and filled it in. It was easy to fill in and since I didn't have the original loan paperwork or details of the loan reference, I just included what I could. They wrote back within a few days of me posting it to acknowledge receipt and told me they were investigating and would contact me again within 8 weeks. I think it was about 7 weeks passed and I got a letter making me an offer. I accepted it and payment was in my bank in under a week.

I hope that this may encourage someone else to go for it. I know that many of the stories on here helped me - so thank you very much!
This site is great and I'm enjoying looking around and getting other ideas and inspiration for how I can better my finances and save money.

orionsquare

Success!
1. Submitted a letter to Lloyds TSB in the beginning of August 2012.
2. Bank sent letter requesting me to complete a FOS form which I did and returned it on 20th August 2012.
3. Heard nothing from them for a month.
4. Received letter from Lloyds TSB on Wednesday, 3rd October 2012 and money paid to my account on Thursday, 4th October 2012 in cleared funds.

Lloyds admitted to 3 mis-sold PPI out of 7 loans and they paid a total of £3,280/- to me. Result!

Thanks MSE for the tips on how to make a claim.