PPI Reclaiming successes and failures

errorgorilla

I have accepted an offer from RBS and returned the paperwork at the beginning of May. Their letter states it could take up to 28 working days from the receipt of my acceptance until payment is made. The trouble is I've no idea when or if they've received my reply: 28 working days is approximately somewhere around 6th June, depending on when they received it and assuming my response made its way back at all. So far I've heard nothing, whereas I would have hoped by now I would have at least had a text to confirm receipt. Is it commonplace for the processing of a payment to take this long?

GrannyMac

When I sent in my form at the beginning of April, I only complained that I had not been allowed to cancel my PPI about 18 months before the end of the loan term. The most I expected was to get back the 18 or so payments I had made from then to the end of the loan term. In fact, they have repaid ALL my PPI payments, compensation for the fact that when the loan was twice re-financed it was for a greater amount than it would have been if I had not been paying PPI, and interest. The total, as I said above is £14947.67 and I received it yesterday.

In the offer letter, no mention was made of exactly why they upheld my claim. It just said that the bank (Co-Operative) had ".. not provided ... the high standard of service we would expect."

I have a feeling it might be because I was in a job that would have paid me full salary for 6 months and half salary for a further 6 months if I had been ill, but that is not clear from the letter.

I have another claim in with HBOS. I am actually more certain that I have a justified claim with them than I was with the Co-Op. I definitely remember that on the phone when I arranged the loan, I agreed to their bronze level of cover, but when I received the documentation, the silver level was ticked; the question is, will they believe me? If they get a number of similar claims from different people around the same time, they might accept that their salespeople were at fault. We'll see. I said nothing at the time as I needed the money quickly. I will post the result here when I hear from them, probably in about a month.

Fot several years, ny finances were in a mess. I have not told anyone apart from people here how much I have had refunded as I am ashamed of having had so much debt in the past. My finances are healthier now, thank God, and the refund is a great boost. If I had not been paying PPI, would my financial situation have been better during that difficult time? Yes, a bit, but on the whole I am rather glad it was "saved up" for me this way!

GrannyMac

GrannyMac

errorgorilla wrote: »

I have accepted an offer from RBS and returned the paperwork at the beginning of May. Their letter states it could take up to 28 working days from the receipt of my acceptance until payment is made. The trouble is I've no idea when or if they've received my reply: 28 working days is approximately somewhere around 6th June, depending on when they received it and assuming my response made its way back at all. So far I've heard nothing, whereas I would have hoped by now I would have at least had a text to confirm receipt. Is it commonplace for the processing of a payment to take this long?

The Co-Op bank told me payment might take up to 28 days in the offer letter I received on 10th May. I replied the same day, and payment was in my account yesterday, 21st May. They also dealt with my claim in aboiut 6 weeks, having said it would take up to to eight. Possibly you can phone to see if your letter was received? I think some banks have a dedicated PPI helpline.

GrannyMac

errorgorilla

GrannyMac wrote: »

The Co-Op bank told me payment might take up to 28 days in the offer letter I received on 10th May. I replied the same day, and payment was in my account yesterday, 21st May. They also dealt with my claim in aboiut 6 weeks, having said it would take up to to eight. Possibly you can phone to see if your letter was received? I think some banks have a dedicated PPI helpline.

GrannyMac

A good idea. I've just called and after ten minutes of faffing around, they tell me they haven't received my acceptance. It'll take another 10 days for a new offer to be sent to me. Then the woman i spoke to cut me off. Oh, RBS, how I hate you so.

GrannyMac

Errorgorilla,

You'll love your bank again once they send you a wad of dosh.

GrannyMac

FBaby

FBaby wrote: »

This is exactly what happened to me. I knew I had a potential claim against EGG but assumed I wouldn't be able to get much back and the whole claim confused me so I decided not to bother. However they wrote to me themselves last month and I decided I had nothing to lose so completed the form and sent it off.

Well as expected, I didn't get much back, but it was so easy and so quick, it was worth doing. I've already received confirmation that I will get £85 in the mail this week. Not bad for doing nothing more than filling and posting a form that took me no more than 5 minutes!

Pity though that I received my first ever speeding ticket and that going to the awareness course is going to cost me £80! :rotfl:

husaberg

Moneyineptitude wrote: »

The only advice I can offer is be prepared for a very long wait with a very uncertain conclusion.
You may "remember" a purchase costing £16, 500 (what did you buy, a car?)-but can you provide any documentary proof of this? If the Bank is still only offering "goodwill" payments when the Ombudsman found in your favour then they really must no longer have any records of your PPI.

I decided to call the credit card department and was put through to Southend,i asked for statements going back to 1998
he told me to write to an address in Brighton, he then put me on hold, before saying he could do it here!! yippee telling me i should have them within 14 days, then saying just in case they don't arrive you can call in any branch and get the last six years, printed while you wait........i tried that ended up on the phone with someone from Swansea card services who gave me an address for Edinburgh
they're doing everything to stop me getting them

has anyone else experienced this???

very angry and confused

[Deleted User]

husaberg wrote: »

very angry and confused

As I said, expect a long drawn out process with a very uncertain conclusion. The Bank would not be still offering a "goodwill" payment if they still actually had your account history.

Andyboy114

What were you reclaiming: Personal Loans
Who was the provider: RBS
How much did you get back: £10,500
Did you get it back after a letter or did you go to the Financial Ombudsman: Letter

I had several loans with the RBS all arranged in the branch. The clerk advised that if I took out PPI I'd have a better chance of being accepted. Years later when PPI scandal came out I thought I'd try and reclaim. At first I went to a claim company who quoted 30%. I was then pointed to this site and filled in the letter. 7 weeks later I got a letter from RBS offering me £10,500. Happy bunny! :beer:

andm

Hi all,

I have a question regarding PPI.

I bank with lloydstsb and filled in 1 of there forms regarding PPI on my loan.

I had a letter back 7 weeks ago saying they were investigating my claim

since then I have no correspondence with Lloyds and was planning on contacting them after the 8 week period was up (next week).

today I checked my current account online and noticed £2,500 has been deposited into my account with a PPI claim refund reference against it.

At first I was overjoyed just to get something back made my day. However after thinking about things I am now questioning a few things.

1) I have received no offer letter saying my claim had been successful and what they were offering me as settlement. I would have thought it would have then been up to me whether I accept this offer of settlement??

2) as I have had no letter I cant see how they have worked this figure of £2500 out, which now makes me wonder whether I could have been eligible for a higher settlement offer??

I am not a greedy person and am more than happy just getting £2500 back. However it seems odd that this money has just been credited into my account with no explanation.

the money actually went into my account on Tuesday 21/5 - I only realised today. so i'm not even sure you could blame the post for being late etc.

anyone else have this happen to them?? or any advice about what I should do??