PPI Reclaiming successes and failures

amersall

They should still take the whole PPI off the loan and reduce the balance, just because it was passed over for collection does not mean that the PPI amount was taken off the loan, without the op coming back on, we will not know the amount of PPI or the PPI actually paid for the amount they are offering, also the op did not state if the loan will be reset in this "goodwill offer", regardless of this offer, I would want the whole PPI off the balance and proof of PPI actually paid.
I hope the op comes back on with the additional info.

[Deleted User]

amersall wrote: »

I would want the whole PPI off the balance and proof of PPI actually paid.

The fact remains that the Bank haven't actually upheld the OP's complaint. The OP can certainly ask for a breakdown of how the Bank calculated their offer, but it's difficult to see how the OP could make the Bank somehow admit liability.
You're right that the OP hasn't posted much in the way of detail, but I think the main thrust of the original post was to ascertain whether the Bank can offset any redress offered.

quidsy

Just did my daily bank account check & it looks like Lloyds have credited my account = £2,327.66 PLPI REFUNDS PPI.

I received a letter from FOS just under 3 weeks ago advising they were upholding my claim to Lloyds, basis for claim: I had no recollection of ever discussing this with anyone, would never have asked for it nor did I need it I had a job with an investment bank that paid full pay & benefits in case of sickness, redundancy etc.

I was told on this forum that this was a "weak" argument & that I would probably fail so I am glad I ignored the negative nellies.

So regardless of the naysayers, if you don't ask, you don't get & it is always worth pursuing if your case is genuine
.
A rather happy quidsy.

sava05

Well done quidsy on your win. If you listen to all those negative forums by the famous three who always posting rubbish comments and opinions you might of given up. If you never try you never get anything. Well done.

Reading_redkite

Used the claim forms on this site to claim back miss old ppi's. told only the truth £9k later !! Two companies refused our applications Barclays and Halifax seem to refuse straightaway. We've been to the ombudsman and low and behold, both companies have decided to make us an offer. It's all really simple. Thank you so much Martin

magickid

Got a letter back in March from HSBC saying that I may have been missold PPI on a loan for two reasons (and 2 reasons that this site doesn't actually mention):
- If I was taking out a loan to consolidate debts then they would not have recommended PPI had they known this (they didn't ask)
- If I had any intention of borrowing money in the future then they may have not recommended PPI had they known this (they didn't ask and I was 24 at the time, so likely that I would at some point borrow again on a mortgage)

I filled in their questionnaire and sent it off. I came home today to find the letter to say I would be offered a full and final settlement for £8,833!!!!! I can't believe it. I am honestly in shock. I had hoped I'd win but really didn't expect more than a few hundred quid back. I no longer have the paperwork (paid off the loan early nearly 4 years ago before I got a mortgage). I can't even remember how much I borrowed originally (that is shocking, but it was 11 years ago!)

I am over the moon. I never bothered to claim before as I didn't fit the criteria that this site suggests. This couldn't have come at a better time when we are really struggling with a young baby and having been on stat mat.

dolphingazer

:T:T:T Congratulations to all winners this week:beer:
Let's hope there are many more to come;)

fay510

magickid wrote: »

Got a letter back in March from HSBC saying that I may have been missold PPI on a loan for two reasons (and 2 reasons that this site doesn't actually mention):
- If I was taking out a loan to consolidate debts then they would not have recommended PPI had they known this (they didn't ask)
- If I had any intention of borrowing money in the future then they may have not recommended PPI had they known this (they didn't ask and I was 24 at the time, so likely that I would at some point borrow again on a mortgage)

I filled in their questionnaire and sent it off. I came home today to find the letter to say I would be offered a full and final settlement for £8,833!!!!! I can't believe it. I am honestly in shock. I had hoped I'd win but really didn't expect more than a few hundred quid back. I no longer have the paperwork (paid off the loan early nearly 4 years ago before I got a mortgage). I can't even remember how much I borrowed originally (that is shocking, but it was 11 years ago!)

I am over the moon. I never bothered to claim before as I didn't fit the criteria that this site suggests. This couldn't have come at a better time when we are really struggling with a young baby and having been on stat mat.

Well done!

I had exactly the same letter and my 8 weeks is up next week - I hope I have the same success! When I first got my acknowledgement letter it stated 2 loans, but when I called, they actually said there were 6 loans so are looking at all 6 now! I have found 3 of the loan agreements and they are small amounts but hopefully it will still mean a positive outcome as they were all refinanced ones.

Out of interest (if you don't mind me asking), did they explain how they got the amount they are refunding and have they said how long it will take to refund the monies to you?

well done again

magickid

fay510 wrote: »

Well done!

I had exactly the same letter and my 8 weeks is up next week - I hope I have the same success! When I first got my acknowledgement letter it stated 2 loans, but when I called, they actually said there were 6 loans so are looking at all 6 now! I have found 3 of the loan agreements and they are small amounts but hopefully it will still mean a positive outcome as they were all refinanced ones.

Out of interest (if you don't mind me asking), did they explain how they got the amount they are refunding and have they said how long it will take to refund the monies to you?

well done again

The letter doesn't actually explain how they got to the amount they are refunding, but there is a breakdown. They actually refer to 2 loans, although I presume the 2nd loan was opened and closed when I repaid the loan early.

The first loan they say:

PPI Premium Redress : £916.23
plus taxable interest at 8%: £589.91
Offer: £1,506.14

The 2nd loan:

PPI Premium Redress: £5,059.93
Plus taxable interest at 8%: £2,267.16
Offer: £7,327.09

I don't have the original letter with me and as I said above, I really can't even remember how much the loan was for or what the PPI portion was. I do remember in this letter though they mentioned something about if you repay the loan early they hadn't factored something in about the PPI (sorry, so vague!) I really have no idea how they arrived at these figures, so sorry I can't be more help!

They say I will be paid into my HSBC account within 4 weeks of returning the acceptance of offer letter. The letter needs to be returned within 6 weeks - I'm sending it back today of course!

Good luck with your claim.

looby_loo

yayyyyyyyy!!!! finally after nearly 3 years of my complaint being with the FOS hsbc have paid me £1617, a pleasant surpise as the letter stated 4 weeks which would be the end of the month