PPI Reclaiming successes and failures

ellyphant58

I got just under £2,000 form RBS for PPI paid on a loan in 2004 with Nat West. I had no paperwork at all and checked when the loan was taken out by using a free trial with a credit report company. You can get a lot of info from these as they list all your loans, credit cards etc. (Just remember to cancel when you have the info you need.)
Followed Martins steps and filled in the PPI consumer questionaire which was easy and straightforward. Stated the loan was agreed over the phone and was not told that PPI was an option or there was a cooling off period, felt bullied into taking it and was worried if I refused that I would not get the loan.
This was posted on the 27th July and got the letter giving me a refund on 16th October.
A huge thankyou to this website as would not have done it by myself without it and didn't expect to get anything due to having no paperwork. :T

NYGiants

• What were you reclaiming: Loan
• Who was the provider: Woolwich (now Barclays)
• How much did you get back: £3000
• Did you get it back after a letter or did you go to the Financial Ombudsman: After letter and phonecall
• Brief Story: Initially contacted a CMC to make a claim on my behalf as I felt a little daunted by it all but after a rejection from the CMC (because it was over 6 years old) I decided to try it myself. I sent off the forms about 7 weeks ago and got a letter acknowledging my claim within 7 days, had a brief phonecall after approx 5 weeks and today have just got home to a nice cheque for £3000.

I had no paperwork but I did have the account number (this was the last loan in a series of top-up loans). The intital loan was topped up 5 times and because they didn't have the information to correctly calculate my refund they instead offered £500 per account.

I have 4 claims currently going through and this one was the one I felt most strongly about having my complaint upheld because even though they date back to 1998 I can vividly remember the gentleman really pushing the PPI element over the phone despite myself having a separate standalone PPI policy.

I was expecting the standard bog off letter due to it's age (the loan was paid off 8 years ago) so I was very happy to receive the cheque even though if I kept all paperwork I'd probably be receiving over double that amount (yeah I've kicked myself hard several times!!)

• What were you reclaiming: Credit Card
• Who was the provider: CitiBank
• How much did you get back: £997.56
• Did you get it back after a letter or did you go to the Financial Ombudsman: Letter
• Brief Story: Initially contacted a CMC to make a claim on my behalf as I felt a little daunted by it all but after a rejection from the CMC (because it was over 6 years old) I decided to try it myself. I sent off the forms about 7 weeks ago and got a letter acknowledging my claim within 7 days. They didn't phone me but instead upheld my complaint and have calculated a refund of £414.70 (CRP premiums) + £194.82 (interest on premiums at contractual rate) + £388.04 (interest at 8%)

I'll have to pay 20% tax on the £388.04 (£77.61) but what happens with the £3000 from Barclays? I'm not sure what happens because they haven't added 8% interest, they've just made an offer of £3000 (6 times £500)

The great news is that the CMC that rejected my claims (because of their age) would have gained around £1000 just for putting some stamps on an envelope. Me 1 - CMC 0 :beer:

wurzelcol

worried48 wrote: »

Are those the grounds you used with Lloyds?

Yes, that's exactly how we did it !!

wurzelcol

tonypctang wrote: »

Hi: Has anyone who susseccuful on Lloystsb BLRI, because I want to apply for PPI on business BLRI as some friends told me to go ahead and try, rather than use a agent to charge the highly comission, and I find this site very helpful so I download the form and fill in but at the complaint session I need more indicate to fill in the right answer for complaint at the right point, and also my business Loan is with security hold by the Bank, so anyone have the idea for me to fill in Form please. Thank-you:)

Phone them using the ppi numbers on this site , you won t need forms. Tell that you thought you wouldn't get the loan or would pay an extra premium if you didn't take out the PPI. Don't deviate or elborate that is enough !!! My wife and i got £21k doing this !! Good luck !!

Giz

tiffany_girl wrote: »

Hi all,

I had 2 credit cards taken out in 1998 and 2001 respectively with BoS. I phoned their PPI helpline and they confirmed I had PPI on both cards. I downloaded the forms sent them away stating that I did not realise I was paying PPI. At the time of taking out these cards I was employed and entitled to company sick pay and had some savings that I could have met repayments on these cards had I been unfortunate to take ill or lose my job, My complaint therefore was that the PPI could not have been explained to me properly. Today I am in receipt of letters from the bank rejecting my claim, The card taken out in 1998 I apparently had applied for by post and they say I ticked the box agreeing to PPI. The second card I applied for in the bank and they tell me that the advisor would have explained all to me. Both cases they state "I knowingly consented to the addition of a PPI policy to my credit card"

Help, what do I do next? Is it worth taking this futher or do I give up? I realise there are hundreds of posts here along the same lines and I have trawled this thread all night, but if someone could give me a bit of advice it would be greatly appreciated. Thanks.

I had exactly response from MBNA this time last year. I decided to take it to the Financial Ombudsman. This took just a year but I received a letter a few weeks ago saying that they felt I had been missold as like you I was in full time employment with sick pay and savings. They recommended that MBNA uphold my claim and I am now awaiting MBNA to come up with a settlement. The day I received that letter from MBNA saying no and that I had ticked for PPI I felt deflated and nearly didnt bother with the FOS. It may take time but follow it through it's worth a shot.:)

Alpine_Star

dunstonh wrote: »

The problem is that the FSA has no way of measuring that. The only thing it can go on is what people put in their complaints

No.

What they went on is clearly set out in the first paragraph of the open letter to which the common failings formed an appendix:

''These failings have come to our attention, through thematic work, mystery shopping, and enforcement actions.''

http://www.fsa.gov.uk/pubs/policy/ps10_12.pdf

Now this is a complete stab in the dark but it could be that the FSA's measure is slightly more sophisticated and reliable than that of 'Moneyineptitude'.

But it's just a guess mind.

dunstonh

Alpine_Star wrote: »

No.

What they went on is clearly set out in the first paragraph of the open letter to which the common failings formed an appendix:

''These failings have come to our attention, through thematic work, mystery shopping, and enforcement actions.''

http://www.fsa.gov.uk/pubs/policy/ps10_12.pdf

Now this is a complete stab in the dark but it could be that the FSA's measure is slightly more sophisticated and reliable than that of 'Moneyineptitude'.

But it's just a guess mind.

FSA thematic reviews can be useful at times. However, they have been known to record things as errors and then back down afterwards. I know an IFA that had a visit under the pension switching thematic review. He had dozens of cases highlighted where they wanted action. After 18 months, they backed down. The three graduates the FSA sent out didn't have any financial qualifications or experience and it showed in what they were raising.

toneeb

tiffany_girl wrote: »

At the time of taking out these cards I was employed and entitled to company sick pay and had some savings that I could have met repayments on these cards had I been unfortunate to take ill or lose my job, My complaint therefore was that the PPI could not have been explained to me properly. Today I am in receipt of letters from the bank rejecting my claim, The card taken out in 1998 I apparently had applied for by post and they say I ticked the box agreeing to PPI. The second card I applied for in the bank and they tell me that the advisor would have explained all to me. Both cases they state "I knowingly consented to the addition of a PPI policy to my credit card"

.

I got a payout for nearly the same reasons you gave (different company mind) I would take it to FOS

Bofus

Hi, I am new here, but just wanted to encourage anyone who wants to take on the banks on their own to do so. I had three loans going back 7 years ... I simply typed a letter on my pc, stating the account number and my name and address ... all I said was could you please refund me the PPI from these loans, many thanks ... honest, thats all I said .... I have now had 3 cheques for £2400 £1400 and £1600.

hollowhead

Bofus wrote: »

Hi, I am new here, but just wanted to encourage anyone who wants to take on the banks on their own to do so. I had three loans going back 7 years ... I simply typed a letter on my pc, stating the account number and my name and address ... all I said was could you please refund me the PPI from these loans, many thanks ... honest, thats all I said .... I have now had 3 cheques for £2400 £1400 and £1600.

Did You get a letter first to acknowledge your claim or ask for more info? How long did it take?