PPI Reclaiming successes and failures

Smilez

amersall wrote: »

If you had no need of the other cover that this PPI provided, life insurance or savings that enabled you to clear the card or continue paying in any eventuality, then write back and reject the rejection, if this is a final response, you need to go to FOS.

Thank you. I didn't have life insurance and can't remember that far back on savings so would I need to provide evidence if I had any? Plus I thought if you were self employed it was a different scenario.

mancminx

Sooetie wrote: »

I wasn't sure if it qualified as PPI as it was on an overdraft not any sort of loan but I tried and succeeded

I always had a bit of an overdraft but when I split with my ex husband fortunately RBS extended it.

As I lived 35 miles from my bank this was done over the phone.

After reading up on the PPI situation on here I checked my bank statements. It appears that at the time my overdraft was extended I also started getting a 'charge' on my statement. Looking into it further it was Loanguard cover.

I didn't actually realise at the time what this was for and assumed it was part of the overdraft charges. I was at the time and still am self employed, so looking at it now the cover was basically useless. I feel a bit of a twit now, as at the time I could tell you within a fiver how much was in my bank account.

I fiddled about for a few months trying to get my very old pc to print the forms properly but finally found a link on this site to a telephone claims line. As I had all the info ready I rang them on Dec 2nd and got an offer in the post yesterday.

I was delighted, as on a monthly charge of c£12 over 9 years totalling £1168, I have had an offer which includes £1680 compound interest and £728 gross interest less tax £145.

This will pay off my overdraft which is still running and also a Credit Card. I still have just over £7k outstanding on Credit Cards/Loan but it is a huge chunk and reduces my monthly outgoings by about £90 a month of which I will put some towards reducing my other debts.

If you are thinking of making a claim take the time and try - it could be well worth it.

I'd like to thanks Martin and all of you who spend your time helping others on here.

Good Luck

ive never done a quote on here before, so hope its ok.
Can you please explain 'loan guard' i think ive had that with RBS-about £6.00 pcm, can i reclaim it?

Sooetie

Hi Mancminx
Loanguard is RBS' version of PPI. In order to reclaim it has to have been mis-sold eg if you were self employed. Have a look on the main site for the best advice. I think it's under the main topic Reclaim £1000s

The_Mango_Tree

-taff wrote: »

They won't give you the credit agreement on accounts that are closed.

As long as you photocopied the sheet and sent it with the complaint, your complaint should be an easy one to uphold, unless they respond as I said by saying it was sold over the phone at a later date. Being self-employed doesn't necessarily bar you from using PPI.

It looks like that will be the response (they have said they can't investigate further without more information and unless I respond within 21 days they will make a decision based on what I have provided) and of course it's impossible to prove/disprove. In that instance would your advice be to go to FOS? My claim is based on my credit application form where I have specifucally ticked 'no' to PP Credit. Or would I be wasting my time?

payingitoff

I have just accepted an offer of £441 from RBS. I had no paperwork at all and it is at least 7 years since I left that Bank! One 5 minute phonecall was made.
Very happy today :-)

lorrimag32

I wonder if someone on here can help me, I am dealing with my brother's PPI on his behalf, having successfully been re-imbursed with my own and my mum's being paid out.

My brother had a loan with the Clydesdale Bank, he has the loan number but can not find any paperwork for the PPI, the advisor at the ombusdman who was dealing with it is worse than useless and a complaint has been made about her.

The Clydesdale Bank have now provided screen prints from aviva who they say were the PPI providers for their loans at the time, but although he can not find the PPI paperwork, my brother is adamant it was not aviva or norwich union as they were in 2002 who provided the insurance. Can anyone who had a clydesdale bank loan help with this? Thanks in advance.

lovespoon4

What were you reclaiming: Loan
Who was the provider: Welcome WFSL
How much did you get back: £1,467.16
Did you get it back after a letter or did you go to the Financial Ombudsman: One phonecall to start complaint, one letter requesting ID, one form to complete, then 3 chase up calls.

Just phoned Welcome Finance to ask for an update on my ppi claim. I was told a Final Response Letter was posted on 24/01/13.
So I asked if my claim had been upheld or not, and was told yes it had been upheld :T
I then asked for the amount, it is £1,467.16 :j
I asked if this was a full redress and the lady confirmed it was, and it is all shown in the letter, which I haven't received yet.

I had phoned them last week to be told my claim had been looked at and had gone to a different department for them to authorise it, and that nothing was set it stone at that point, although a letter was on the screen waiting to be printed out after being authorised. The man couldn't read the letter to me at that point though.

I started my complaint on Nov 19th 2012 by phonecall.

Received a letter asking for ID and to complete a questionnaire form, sent copy of passports.

Had another letter saying 'My understanding of your complaint is that you do not consider the PPI policy to have been a suitable or affordable product for your needs at the time the original sale was made'.

I phoned Welcome about the wording of this letter, to be told it is a standard letter. So do not worry if you receive this letter, just a standard letter sent out to everyone.

8 weeks from the original phonecall in Nov should have been Jan 14th 2013, but Welcome said they start the 8 weeks from the date they received my completed questionnaire form :mad: on 19th Dec 2012. Taking me back to Feb 13th 2013.

Phoned them last week and the snow had added a further 4 days to their deadline, Feb 18th 2013.

But today success.....just waiting for the final response letter to arrive :T And within their 8 week timescale!!!

Apparently I sign the acceptance form, fill in my bank account details and wait 15-30 working days for the money to be sent by BACS.

My loan only ran for 5 months before we switched to another bank, so a good refund in my opinion.

Loan was taken out in May 2003.
This was a secured loan.

No claims company...did it on my own!!!!!


Another huge THANKYOU to all who write their stories on this site :A

Hope this has answered some questions for future claims to welcome.

neiljag

I recently found out there was PPI being applied to my Bank of Scotland credit card. I had the card for18 year and had been self employed for half of that time.

I filled out the template and sent it away. After a few weeks I received a series of phonecalls asking for more information (nothing too onerous).

Its two or three weeks later and I have just received a full refund totalling over
£8000 !!

Nice one Moneysaving expert.

K81986

Hi,
We've had some luck reclaiming PPI by using the templates on this site. We mail merged a number of companies and most stumped up apart from Capital One who have been very slippery!!
They fobbed us off with a very poor argument by sending us a copy of the example flow chart the sales staff are meant to use when selling PPI, however the documents stated the procedure wasn't in place until after they applied PPI to my account!!
It took 9 months to get this lame response from Capital One but as it was such a bad argument I referred the case to the Financial Ombudsman. The FO needed some extra info but once this was all complete they sent a letter saying their investigation will take up to a year due to the back log!!!
I hope the delay isn't that long but also hope all the waiting is worth it!

Has anyone else had any luck with Capital One?
Also, does anyone know if the year time frame the FO have advised, is on target? I'm hoping that this is the worse case & that I'll hear back sooner!

[Deleted User]

K81986 wrote: »

Has anyone else had any luck with Capital One?

Only 11% of Cap One cases referred to the Ombudsman are overturned, so not looking good.
In addition until recently the FOS queue was as long as eighteen months.