PPI Reclaiming successes and failures

-taff

Bula2000 wrote: »

HI guys, I have Argos store card, they charge me ''coversafe'' every month. I sent them PPI refund form and they replied that they do not supply PPI as it is not a personal loan, they said they are charging me for ''mechanical parts and man labour hours'', what is that? Can they do that? I never agreed to pay such thing...

Coversafe is PPI. It covers you in case of unemployment or sickness, as you can read if you go to their site.

MrsMeemar

What were you reclaiming: PPI on loans dating back to early 2000's to 2004
Who was the provider: HSBC bank
How much did you get back: over £9,500
Did you get it back after a letter or did you go to the Financial Ombudsman: after HSBC wrote to me

I had been wondering for quite some time whether I would put in a complaint about PPI being mis-sold to me but I had been put off by the questions that needed answering and how old my loans were. I think the reclaiming bank charges process was much simpler(!) and I was successful (approx. £3,000 refund) with that some years back...

I received a letter from HSBC stating that they believed they may have mis-sold PPI to me, outlined their reasons why and asked me to complete a questionnaire to give further information if I wanted them to investigate further. Again, I was put off by the form and a few weeks later I received another chasing letter from them. I decided to just complete the questionnaire as best I could including what would be useful based on information on the MSE site that was relevant to me. I didn't dig out any old paperwork as I was fairly certain I had thrown it all away. I knew I had consolidated my debts a few times and therefore I was fairly sure that I would have had a number of mis-sold PPI policies I highlighted this on the questionnaire.

When they confirmed receipt of my completed PPI questionnaire, I was pleased to see the policy numbers were in the subject heading (5 in total!). They said they'd get back to me within 8 weeks.

7 weeks later I received a letter upholding my complaint and offering £9,515.21! :eek: :money:

Needless to say I am really pleased. This figure would actually pay off the balance of my current outstanding loan, making me debt free and (after tax paid on the interest) will still leave me with a nice lump sum to spend on a fabulous holiday. Call me mad but I'm secretly hoping they do offset it against the loan

My husband assumed refunds of £6,000 he had seen in adverts were exaggerations so you can imagine his shock when I showed him my letter!

I would definitely recommend others claim too and if you've received a letter from your bank/lender don't hesitate to respond!

Good luck!

amersall

atha1973 wrote: »

I received 2 letters today from RBS, one for a loan and one for a credit card. Both letters are identical with the same reference number asking me to write another letter requesting me to ask them whether any of my accounts had ppi. Each letter although identical has a different reply to address, one is ppi claims Southend on sea and the other is data protection team Edinburgh. Surely they can see themselves as to whether these accounts have ppi or not!!

Do you know if you had PPI on these accounts and do you have the account numbers? if you do, just put the claims in if you have reasons for mis sell.

If you have no proof of PPI paid and are requesting info on these accounts, then send a data request to them, ask for all financial info they hold on you and send it to the data protection team.

amersall

dizzi_lizzi wrote: »

Hi

I have just had a letter from Santander re account cover which incorporated PPI on my Debenhams card. I complained to Santander saying I'd been mis-sold PPI in 2004. the reason for my complaint is that I have a pre-existing medical condition. when I tried to claim against my policy with Genworth, the underwriter, they refused because of my medical condition. I cancelled my policy and they took my complaint details but passed them to Santander.

Santander have not upheld my complaint as they say I was sold the policy over the phone. All their sales are unadvised and they say it is up to the individual to decide if the policy is suitable for them.

I actually took the card out in store and the sales assistant was the one who made the phone call once they'd taken some details from me. is there any point in going back to Santander regarding this as they're incorrect?

At the end of their letter they state this is their final response and refer me to the FLA. From what I've read on mse forums the FLA is a waste of time.

Does anyone else have any advice or similar experiences they can share with me?

Thanks

Dizzi:rotfl:

Send it to the FOS, this PPI was not fully explained to you at the point of sale ( in store with a sales assistant who has no training regarding the selling of insurance) with regard to the pre existing medical info and when you tried to make a claim you could not.

skydive39

Hi, I have received a leter from Halifax today saying my complaint has been upheld and as a final response are offering me £950 !:j

My question is that my credit card limit is £2200 and I have used up to £2180 of my card to date so I ony have £20 remaining credit. If Halifax are crediting £950 back in to my Credit Card account and they send me a cheque too for £950 then if I cash my cheque in to my Barclays current account I realise this will deduct the £950 from my credit card account but is there likely to be an ADDTIONAL debit/charge (i.e. possibly more than the £20 remaining) on my credit card account which would therefor take me OVER my limit of £2200 ?

Sorry I know this sounds a stupid question and I know that you may wonder why I dont just pay part of my credit card off but it's just that I'm getting married in the next 3 months and I could really do with this extra bit of money to put towards my big day !

Halifax obviously encourage you to use this redress payment to offset it against any outstanding debt but I'm assuming this isnt compulsory given that I'm not over my limit ?...I'm desperate to cash the £950 cheque but scared that an additional charge or debit will be deducted for doing so..

Please please help me people I would be extremely grateful for your advice..

Thanks

-taff

skydive39 wrote: »

Please please help me people I would be extremely grateful for your advice..

Thanks

Well, this is a money saving site not a money spending site, and you're already completely up to your limit anyway.

You won't be charged for cashing the cheque, but if you don't use it against your curent bill, you may end up over the limit anyway in interest charges alone.
You get married once, [more or less] true, but you'll be in debt for months if you ignore the basic principles of paying off the more expensive debt first.

Put it this way....do you want extra flowers and be in debt for 2 years over it, or do you want to start being married with a sigh of relief that your debts are under control.

Besides, if you do use it to pay off some of your card, that's an extra 950 you can spend on it.

skydive39

I realise I'm up to my limit but not sure about your comment "if you do use it to pay off some of your card, that's an extra 950 you can spend on it."?

What is the difference between this and paying the paying the cheque in to my current account?

Thanks

-taff

Interest charges.

skydive39

Very helpful

PIP6612

amersall wrote: »

You could ask them to reconsider the decision on those loans, they could have been consolidations and possibly part of the chain.
As they do not have any more details regarding these loans other than the account numbers, amounts and dates, they would need to have more than this as the PPI may have been cancelled and they need to know the whole PPI was actually paid.

Hi Amersall - had to re-register but this is PIP. I've spent all day with bags of paperwork. I had 5 loans between 1992 and 1996 and RBS gave me the account numbers, start and end dates but they haven't shown the loan amount. They state that due to the passage of time and limited information available they can find no evidence that PPI was included. I know it was added on, I was only made aware of PPI in 2006 when I refused it on loans after 2006.

Surely if they have the dates and account numbers they would know the amounts? Is there anything else I can do to get this money back?

As always I am grateful for any advise

PIP