PPI Reclaiming successes and failures

pello

-taff wrote: »

You will have to make your own complaints according to your circumstances, if you allude ot anything that can be disproved your complaint will be rejected.

Companies don't say why a complaint was successful anyway.

Thanks for the advice although I was not asking for details of anyone's personal circumstances.
After reading though the extensive threads connected with claims from Egg I'm convinced there are common denominators at core level i.e. was their most common offence that of front-loading the premium, with interest payments being accrued on the principal as would be one of my major complaints?

amersall

pello wrote: »

Thanks for the advice although I was not asking for details of anyone's personal circumstances.
After reading though the extensive threads connected with claims from Egg I'm convinced there are common denominators at core level i.e. was their most common offence that of front-loading the premium, with interest payments being accrued on the principal as would be one of my major complaints?

Front loading is one of the reasons that you can use, this does not guarantee a win though, it is one of the worst PPI to have though as it is in effect another loan that is paid back over the term with interest, this is bad when you repay one loan with another as the PPI taken off as a rebate for the settlement, puts the remaining PPI on the second loan to term end with interest.

You are in effect paying for the new PPI and the remaining PPI from the first loan.

amersall

Stormy71 wrote: »

Hi I hope someone can give me a bit of advice. RBS are unable to uphold my claim.
This was a credit card with Ulster bank taken out in May 2002 with ppi attached. I cancelled the ppi October 2004 Card was closed March 2007. They are telling me that all their PPI are provided on a non-advised basis. They are saying that their staff are trained to ensure that their customers are aware that the credit card and PPI are separate products. I also had alternative cover in place and generous package from employer. Is this the end of the line for me.
1st claim I've tried, a bit wary about trying others now. I was sure I took this card out in Bank. I stopped PPI when I realized that I had it, and was struggling with monthly payments Of nearly £300.

If this was a final response from the bank, send the complaint to FOS, reiterate what you had in place and the fact you cancelled this when you knew you had no need of it, be aware that FOS take a long time.

If it was not a final response, send the same to the bank, show that you had no need of this PPI and could repay the card in any eventuality.

orangemog

Hi,
Long time lurker here, but thought I'd join and share my success story to give others hope :-)

What were you reclaiming: Loan(s) PPI
Who was the provider: HSBC
How much did you get back: £17,459.24!!
Did you get it back after a letter or did you go to the Financial Ombudsman: HSBC sent me a letter

I've had loans with HSBC since I was 19 - I would get within the last year of payment then ended up consolidating into a new loan. I always took PPI. Pretty sure that at least one time, they said the interest would be higher if I didn't. Usually they just skirted over it.

I'm naturally lazy, and couldn't be bothered to reclaim any PPI by making an effort, and I figured I'd only get a grand or something anyway, so no point - but when HSBC sent me a letter a few weeks back asking if I'd like them to look into it, and I just had to tick a few boxes, that was worth it, even for me :-D

Got the letter on Thursday saying that to ensure this matter has not financially disadvantaged me, they propose to pay off the balance of my existing loan (£446 - only got two payments left on a 7 year loan!) and refund all premiums I'd paid, with interest. The result being almost £17.5k!

I couldn't believe it! I've been digging myself into a hole since I was able to get credit, and was finally getting myself sorted, 18 years later. When I'd finished paying this loan I was going to use that extra money every month to start paying off the credit cards. With this redress, I can clear everything at once, and be completely debt free for the first time in my adult life! :-D

So anyway, just wanted to share. Proper life-changing event for me. 2013 is going to be a good year, and I hope others here have the same good luck :-)

Oh, I should point out I haven't actually had the money yet, obviously. The letter said I'd get it within 28 days of them receiving my offer acceptance form. Here's hoping I don't have to wait that long, patience is not one of my virtues :-D

orangemog

lady_jane_2

nothingwitty wrote: »

I wrote a letter of complaint to Littlewoods and within two weeks I had every penny of PPI returned back to me. In total, some £200.

Currently in talks with Bank of Scotland over a loan which I took out that had PPI automatically added to it - I thought it was part of the loan!

I had a lettter from a reclaims company in August of last year saying my claim has been sucessful but its nearly been 7 months now and they keep telling me they are still wiaitng for ''calculation figures of the final sum. What can I do to speed things up ???:mad:

yummymummyoftwo

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amersall

lady_jane wrote: »

I had a lettter from a reclaims company in August of last year saying my claim has been sucessful but its nearly been 7 months now and they keep telling me they are still wiaitng for ''calculation figures of the final sum. What can I do to speed things up ???:mad:

First of all, contact Littlewoods and ask why they are taking so long with this claim, have you had any response from Littlewoods at all?.
The claims co should be chasing this for you, this is what you are paying them for.

Who are the claims co?.

amersall

yummymummyoftwo wrote: »

My PPi claim was upheld

Does anyone know how long it takes to get the redress paid into your account?
It doesnt state how long on the letter

:j congrats :beer:

Hopefully this should not be too long, call them and ask.

Stormy71

amersall;59455585]If this was a final response from the bank, send the complaint to FOS, reiterate what you had in place and the fact you cancelled this when you knew you had no need of it, be aware that FOS take a long time.

If it was not a final response, send the same to the bank, show that you had no need of this PPI and could repay the card in any eventuality.

Hi Amersall thanks for the advice, they are saying if I have any additional evidence that would alter their decision. Not sure what more I can tell them.

Stormy71

amersall;59455585 If this was a final response from the bank, send the complaint to FOS, reiterate what you had in place and the fact you cancelled this when you knew you had no need of it, be aware that FOS take a long time.

If it was not a final response, send the same to the bank, show that you had no need of this PPI and could repay the card in any eventuality.

Hi Amersall thanks for the advice, they are saying if I have any additional evidence that would alter their decision. Not sure what more I can tell them.