PPI Reclaiming successes and failures

Firefox1975

Very happy with HSBC! initial letter written 9/01/13. follow up information completed for HSBC beginning of February. Decision reached middle of March. money in my bank account today. (£8k) Just need to keep kicking MBNA now. (they fobbed me off so had to go to ombudsman)

amersall

James0101 wrote: »

Amersall/Taff,

Bit of advice if you don't mind?

Got a complaint in with Halifax at the min (will be 5 weeks this week).

Got a loan with them in 1999 which ran 6 months as I borrowed a further £1k so they paid the old agreement off and started a new one. This loan lasted half the term (30 months) before I paid it off completely.

My compliant was the fact that it wasn't optional - I was only quoted one monthly repayment which included the PPI. And, the fact it was Single Premium, a loan on top of a loan plus interest and this wasn't fully explained to me when I got loan out.

I got a call from them last week asking me a few questions and I just told him the above reasons and he said they will be in touch in a few weeks.

If I am successful, how would they work out the payments? The first one only ran 6 months and the second 30 months. Would they have given me a rebate with the settlement figures on both?

Any info appreciated.

You will get the whole PPI amounts back, less the rebate amounts for each, the rebates work out roughly a % of the PPI balance at a certain period during the loan term, the nearer you are to the loan start date the more rebate you get, you only paid 6 months PPI on one, this would have given you a decent rebate.

When you repaid the first loan you would have received the rebate of PPI but the remaining PPI would have been paid back to you in settlement, this is why you get the whole PPI back less the rebates.

The interest on the PPI is in the monthly PPI payment, this is because it is added to the loan with the interest over the loan term, you will also get the 8% if the claim is upheld.

James0101

Cheers Taff/Amersall for the replies.

Will keep posted on any updates.

Leef78

RBS
£1700
1 phone call!!!!
11 days


Hi everyone.
Thought I'd share my quick PPI story.
Rang RBS PPI hotline number 11 days ago, gave my name, account number and sort code plus a few other security details. They checked my account and said PPI had been sold to me on a loan back in 2001! Answered a few standard questions. Today got a letter saying they would pay me "as a goodwill gesture" £151.02 + £556.70 + £1008.41 inc 20% deducted for tax. 11 days!!! Result!! Posted back the acceptance forms, should have the cash within 28 days.
Anyone thinking of doing it, DO IT! 1 phone call!! Maybe I got lucky but it's £1700 I wouldn't of got, thanks to the all advice and stories on here. Great forum.

Mutedwitness

Hey people, newbie here so go easy on me.

Just looking for a wee spot of advice/reassurance. Just been contacted by RBS with the generic letter "you may be able to make a claim" etc. I had 4 loans with them dating back to 2003 for around about £15 - 20K all in I would say. PPI was attached to all loans and was aggressively sold in the form of "personal opinion" to me as "the best way to go forward". All loans were sold on the phone and there was no detailed explanation given of what the cover was for or even the fact that there were exclusions. There was no mention of exclusions whatsoever. I guess unless they have recordings to state otherwise, this would be my word against theirs. This is what worries me about my claim, the fact that I knew and agreed to them applying the PPI to the loans although the details of the phone calls are hazy to my memory give the time elapsed. Even I'm starting to doubt the fact I was mis-sold the policies. The last thing I want is a phone call requesting I clarify details of the original phone calls from years ago. Having read the guidelines in the RBS letter it appears I do have a case with regards to the "aggressive selling" but I've read a lot of testimony from unsuccessful claimants stating that they agreed over the phone at the time to the PPI and that's that, case shut, end of story, if you agreed to it then you have no case.

Yours, worried.

-taff

Fill in the form and complain. They are writing to you because they've identified you as a person who was sold PPI during a period they were fined for misselling, or a period where they have identified failings.
It doesn't matter what you say in terms of your complaint, as long as you are truthful.
You can't hurt or hinder it by saying you can't remember if you can't remember.

[Deleted User]

Mutedwitness wrote: »

I've read a lot of testimony from unsuccessful claimants stating that they agreed over the phone at the time to the PPI and that's that, case shut, end of story, if you agreed to it then you have no case.

The difference here is that the Bank have written to you because they have identified a widespread fault with the sale of PPI during the time you took this insurance. This gives you a distinct advantage over complainants who have sent "hearsay" type complaints without having any such evidence.
I'm not saying your complaint will definitely be upheld, but I'd be far less worried than someone who just copied their complaint from a template if I were you.
All the best...:)

Mutedwitness

Moneyineptitude wrote: »

The difference here is that the Bank have written to you because they have identified a widespread fault with the sale of PPI during the time you took this insurance. This gives you a distinct advantage over complainants who have sent "hearsay" type complaints without having any such evidence.
I'm not saying your complaint will definitely be upheld, but I'd be far less worried than someone who just copied their complaint from a template if I were you.
All the best...:)

Thanks a lot for your kind advice. Much appreciated. I'll await the outcome of my complaint with a little more hope now.

wsarmstrong

I have had several loans over the past 10 years and I've checked the contracts but I cant see any mention of ppi so I'm not sure if I paid it or not. I do remember being asked if I wanted to have insurance protection against unemployment (PPI?) by some of them and said no. What or how should I proceed. When I look at the downloadable document it is for those who definitely know that they had been charged it. Please advise. Thanks. I know too that I've paid massive overdraft charges over the years with my local building society but I think I've missed that boat on that one so I dont want to miss out again.

-taff

Phone and ask them if you did, or send a SAR and £10. See the front page sticky.