PPI Reclaiming successes and failures

sangria56

I have today recieved an offer of £3,979.11 for mis sold PPI from LloydsTsb, I have twice recieved full and final rejection letters but refused to give up and am over the moon that my determination has paid off. I was always convinced that I had been mis sold and when I requested copies of my loan agreements lo and behold I had my case looked at again and upheld so to anyone who is thinking of giving up don't. I will be going to the FOS with my credit card claim as this was rejected.

worried48

We had a letter from lloyds today too, one claim rejected, one upheld (the newer one).

For the upheld complaint, we have been offered £6910.52, being a refund of PPI premiums £5943.66 and interest £966.86

I expect that is about right - the total PPI on the loan was almost 8k and the loan has run for 4 of the 7 years. They are going to cancel the PPI as from now and amend the loan. The interest part will be paid first and then the rest within 28 days when they have amended the loan. I guess that is going to be a long wait.

Will now post about the rejected complaint.

worried48

Now I have a question before I post about the refused complaint - they say we have 28 days to complain if we don't agree with the decision and if we say nothing within 28 days then the payment will be made. What is not at all clear to me from the wording of the letter is this: if we ask them to revisit the rejected claim (which we will, because some of the reasons we gave only went on the form and they have not tied that in with our original letter and have not addressed most of those reasons), will they then delay paying the upheld complaint until we have been through the appeal and if necessary the ombudsman process?

amersall

They should pay the first that is upheld, you then contact them and reject the reasons they gave for mis sell on the rejected one and ask them to look at this again.

Are they both on the same letter or separate?, if they are together then make it clear you are accepting one and rejecting the other.

worried48

The rejected complaint - this was for a five year loan taken out in 2003, PPI paid as a single premium up front.

The reasons given that they have addressed (which were not all the reasons we raised, they are the ones raised in the original letter sent by my husband and expanded on in two phone calls) were as follows:

1. We were not advised of the total cost of the policy separately from any other prices we were given.
2. Were were not advised that the policy was optional
3. We were led to believe that we could not get the loan without taking the PPI policy
4. We felt pressured into taking the policy
5. We were not asked if the policy was suitable for us
6. Before we purchased the policy, we were not told that the premium would be added to the amount provided under the credit agreement, interest would be payable on the premium and the amount of that interest.

Oddly, I don't think we even used 1 and 6 as, for the upheld claim, we do have a breakdown of the cost of it which is quite clear and my husband did sign it. I would imagine the first loan was laid out in a similar manner. Some issues we did raise on the phone have been ignored - it seems as if the caller went into autopilot.

The letter refers to suitability, cost, optionality and pressure. At one point it says that "you were affected to some extent by the limitation of your PPI policy. However the extent of the effect meant that there was no impact on the suitability of your PPI policy because of your identified needs for the remaining policy benefits" - I assume this refers to the fact that my husband was self-employed, that was an issue we raised though it has not been specifically addressed. As we do not have a copy of the policy it is rather difficult to be sure of what we are arguing :mad:

There are only three things I can think of that were different between the first loan (complaint rejected) and the second (complaint upheld). 1. The second loan was for 7 years, the first for 5 2. My husband will be 67 by the time the second loans ends 3. The second loan was after 2005 and therefore has the "paper trail".

We will of course be writing back to Lloyds pointing out some of the reasons for our complaint that they did not address (which to be fair is almost certainly not their fault, my husband did not go about this process very well and we sent further information which simply does not seem to have been tied up with the original letter). Any comments welcome.

worried48

amersall wrote: »

They should pay the first that is upheld, you then contact them and reject the reasons they gave for mis sell on the rejected one and ask them to look at this again.

Are they both on the same letter or separate?, if they are together then make it clear you are accepting one and rejecting the other.

It's the same letter. We only have 28 days to reject their rejection, and they say they can take 28 days to pay, so waiting that length of time is not an option. Was that what you meant?

Tupelo12

Can any one let me know the turn around for Hsbc and there sucsesses on loan ppi. Sent mine off and recd acknowledgement on 01 nov ??

Tupelo12

Hi

First thread I've done! I recd my ppi claim acknowledgement letter on 01 nov - I have 4 claims altogether with Hsbc - does anyone know the timescales they r working to at present? Really want it b4 Xmas if it's upheld!
Thanks

Phil-2244

dunstonh wrote: »

You mean you feel you were mis-sold. That may or may not be the case.



The data protection act requires firms to destroy data that is no longer required. Different firms take different views on timescales. Some hold records much longer. Some destroy the minute it gets over 6 years.



As there is nothing wrong with having PPI, all your stuff shows it that you had it. Not that it was mis-sold or not. What evidence do you have to support your allegations of mis-sale?

With respect, you're not in a position to suggest that I 'feel' like I've been mis sold, patronising to say the least. The details of my complaint are personal, and I never asked for your opinion, thanks all the same.

-taff

Phil-2244 wrote: »

I never asked for your opinion, thanks all the same.

On a public forum, you've got it anyway.