PPI Reclaiming successes and failures

fay510

kittsbud wrote: »

I am in exactly the same situation, but my 8 weeks are up this Friday, and the HSBC just rang and basically "grilled me" on why I thought I was misold. Did you get a call, or am I special lol? Is getting a call standard procedure in these cases?

Hi

I am in the same situation too! My 8 weeks is up on Monday and I received a call today. Interestingly (as mentioned in a previous post) I was told initially two loans were being looked into, when I called HSBC they said there were now 6 they were looking at and now today, the loans have increased to 7!!! The man explained that the loans were being looked at today and he was calling about a credit card I had with them back in 2003. He said that they should complete their investigations on all 8 either today or tomorrow and should receive my letter shortly. I really hope that some if not all are re-addressed as most loans would have been re-financed ones (and that was what they stated on my initial letter from them) and also I had really good sickness and redundancy covers through both my jobs I have had over the past 15 years or so.

I hope you have success in your claim (and me too!!!!)

Good luck

kittsbud

fay510 wrote: »

Hi

I am in the same situation too! My 8 weeks is up on Monday and I received a call today. Interestingly (as mentioned in a previous post) I was told initially two loans were being looked into, when I called HSBC they said there were now 6 they were looking at and now today, the loans have increased to 7!!! The man explained that the loans were being looked at today and he was calling about a credit card I had with them back in 2003. He said that they should complete their investigations on all 8 either today or tomorrow and should receive my letter shortly. I really hope that some if not all are re-addressed as most loans would have been re-financed ones (and that was what they stated on my initial letter from them) and also I had really good sickness and redundancy covers through both my jobs I have had over the past 15 years or so.

I hope you have success in your claim (and me too!!!!)

Good luck

Thanks for letting me know! I feel a bit better now. Fingers crossed for everyone. The chap said a letter would be out to me within 3-5 working days, so I'll post as soon as I hear. If they refuse, I shall go to the Ombudsman next, as I really do think I have a case. I have all the paperwork, and not once is anything mentioned about what happened if I restarted the loan, or paid it up, which happened in both cases to me!

Davbolmac

Hi, I'm new to this forum. Today is the first time I've really thought about PPI, I took out a loan with Beneficial Finance back in Oct 2007. I was 24 years old and very bad with money, this was a consolidation loan... (I'm happy to say I'm in a much better position now and have almost completely wiped out my debt).
Anyway, I've just noticed on the PPI eligibility notes:
You are aged 25 years, have no dependants, are full time employed 16 hours plus per week.
For the most part this is true but as I mentioned, I was 24 years old, not 25... Now when I say I was 24, I was 24 and 11 months. Does this matter?

Do I have a claim? I did pay nearly £3000 for this and the money would go a long way now my wife an I are expecting our first child...

The PPI was explained at the time and I was told it was optional, even though the guy doing the selling kept telling me it was better to be safe than sorry...

Has anyone else been in a similar position?

[Deleted User]

Davbolmac wrote: »

For the most part this is true but as I mentioned, I was 24 years old, not 25... Now when I say I was 24, I was 24 and 11 months. Does this matter?

Hardly, the PPI would not have paid out in the months immediately following you taking it out. By the time the PPI became available to you your 25th birthday would have been and gone.

treesinwind

Davbolmac wrote: »

I was 24 years old and very bad with money, this was a consolidation loan...

Do I have a claim? I did pay nearly £3000 for this and the money would go a long way now my wife an I are expecting our first child...

The PPI was explained at the time and I was told it was optional, even though the guy doing the selling kept telling me it was better to be safe than sorry...

Has anyone else been in a similar position?

Your age doesn't make a difference, but lots of people have had complaints upheld on the grounds that Ppi was unsuitable on a consolidation loan.

-taff

And that it would have been single premium....It's probable that you told them how old you were and that they rounded it up.

GrannyMac

Received offer of £10,100.77 today from Bank of Scotland. No explanation of the reason why they upheld my claim.

Added to what I received a few weeks ago from the Co-Operative Bank, I am now better off by a total of £25,048.44!

I am so glad I have this forum as I need to tell someone and can't tell anyone who knows me as I am ashamed of the level of debt I was in then. Happily I no longer owe a penny to anyone - best feeling in the world.

I have one last claim pending with Lloyds.

GrannyMac

Davbolmac wrote: »

Hi, I'm new to this forum. Today is the first time I've really thought about PPI, I took out a loan with Beneficial Finance back in Oct 2007. I was 24 years old and very bad with money, this was a consolidation loan... (I'm happy to say I'm in a much better position now and have almost completely wiped out my debt).
Anyway, I've just noticed on the PPI eligibility notes:
You are aged 25 years, have no dependants, are full time employed 16 hours plus per week.
For the most part this is true but as I mentioned, I was 24 years old, not 25... Now when I say I was 24, I was 24 and 11 months. Does this matter?

Do I have a claim? I did pay nearly £3000 for this and the money would go a long way now my wife an I are expecting our first child...

The PPI was explained at the time and I was told it was optional, even though the guy doing the selling kept telling me it was better to be safe than sorry...

Has anyone else been in a similar position?

You have nothing to lose by putting in a truthful claim anyway. I would.

GrannyMac

quidsy

what a lovely result grannymac.

pdc9909

Hi everyone, I'm new to the forums so please be gentle !
I complained about PPI mis-selling from 1996 to RBS by phone in May 2013.
I'd added up all my old statements and worked out that the total I'd paid to the policy was £2471.60 from 1996 to 2007.
They went through a couple of questions about what I could remember and promised to get back to me. I've subsequently had one phone call from them on 6 June to ask a couple more questions about my employment status at the time (I was employed at the time of taking the policy but became self-employed a couple of years later).
I've received my reply today (which included a copy of the original agreement and a couple of copies of statements). They are stating that as I had applied for the credit card via a mailshot, the PPI was not mis-sold as the policy was non-advised and I had ticked the Payment Protection box on the application form. It was my responsibility to assess the policy as per my needs and determine whether it was suitable for me at the time of sale of in the future. Furthermore I would have been provided with sufficient information at the time of my application to make an informed decision. I also took out a card protection plan with them at the same time on the same application form.
From looking at the application form, the Payment Protection section says "Payment Protection is designed to protect your RBS Advanta Visa Card payments in the event of death, accident, sickness or involuntary unemployment (including redundancy). We strongly recommend that you take out this cover. For cover just tick this box."
As it doesn't state anywhere the potential cost of this policy, do I have a case to take further? I intend to write to the Ombudsman but I'd appreciate the thoughts of forum users.