PPI Reclaiming successes and failures

justjohn

What were you reclaiming: Credit Card Protection
Who was the provider: MBNA
How much did you get back: 4.5K ISH
Did you get it back after a letter or did you go to the Financial Ombudsman: MBNA PPI claim form. Original application for card was a paper form. Box WAS ticked for PPI. phoned for advice regarding PPI at time of application, was told it would effect application. Called on 2 further occasions to cancel PPI was told it was beneficial even if SE. Phoned in 2007 to demand cancelation of PPI. Card is still active,no PPI. Claim was from 1998-2007
NOT automated payout. Had endowment policy at time as savings and ex-wife was in full time employment. Only my name was on the card. Half the time I was in full time employment and rest of the time I was SE.

Andyb34

Finally, 3 weeks after sending my acceptance letter back to Black Horse (i'd accepted their offer of £7,051 - of which nearly £5,000 was interest) my cheque arrived today!!

Imagine my suprise when the letter with the cheque stated we have re-calculated your interest, and here is your cheque - £8, 228,56.

For the cost of one stamp.. Thank you MSE!!

dolphingazer

Andyb34 wrote: »

Finally, 3 weeks after sending my acceptance letter back to Black Horse (i'd accepted their offer of £7,051 - of which nearly £5,000 was interest) my cheque arrived today!!

Imagine my suprise when the letter with the cheque stated we have re-calculated your interest, and here is your cheque - £8, 228,56.

For the cost of one stamp.. Thank you MSE!!

:j:j:jNice one Andy:beer:
Congratulations.
Enjoy your money:D

sbaroudi

I've been putting off reclaiming PPI for ages now but got a letter from MBNA saying they thought I might have been mis-sold from a credit card I had years ago. I filled in the form and got £661 back. I've now claimed more and am awaiting a response. Thanks MSE

Thestoredt

Recaiming: loan ppi
Loan amount:approx £15k
Egg banking
Received:5096

Wrote to citibank, using the ombudsman complaint form.
Citibank replied promptly, listed all accounts id ever had and wanted proof of new address, sent this off. No phonecalls, wrote back quickly showing the ppi premiums i had paid, what was refunded as i paid loan off early, offered refund of £5096 including showing a very detailed breakdown of my accounts so i went through this with an accountant and was very accurate. Returned the acceptance slip and now waiting for cheque! Very quick and very proffessional.

mogchops

mogchops wrote: »

Completely amazed!

As far as I was aware, I didn't ever have any PPI on anything. But received a questionnaire from MBNA a couple of weeks ago, advising that I *may* have been missold PPI on a credit card I took out in 2005.

Filled it in, sent it back, letter today (after 2 wks) advising complaint upheld, and £601 to be paid by cheque within 28 days!!

Totally amazed and over the moon!

Just as a further note to this, the cheque arrived today (13th July). Seriously impressed with the speed of MBNA!!!

Timmo247

Hello all,

First post on here...

I telephoned RBS regarding a possible PPI claim a couple of weeks ago. They took some details off me and said they would investigate.
I received a letter last week saying that they have been unable to confirm precisely what information I was given at the time the policy was purchased.

They say that 'as a gesture of goodwill' they will offer me just over £640.00 as a refund for the insurance premiums plus interest. I have written back rejecting their offer and stating that I will accept £3500 to make the claim go away. I have also said that if there is no satisfactory conclusion to this then I will make a formal complaint to the Ombudsman as well as instructing my Solicitors.

Can anyone give me feedback as to what my chances are of them accepting my counter-offer or at least negotiating an increase?

Any handy tips would also be appreciated!

Many Thanks,

Tim

Wombat2013

I wanted to say a massive "thank you" to all who have posted advice etc on here - you've inspired me to claim a huge chunk of money back for ppi

My story starts with Nationwide writing to me back in March, telling me that I may have been misold on 2 personal loans. Up until then, it would not have occurred to me to claim - I knew I had ppi, was employed and no health issues etc. BUT what I didn't know until then was that I had paid interest on the ppi, and that when I repaid my first loan early, as I took out the second - I was still liable for the full term ppi. This was the part that made me really cross, as I discussed the second loan in person with the branch manager, and this was never mentioned to me. I took out the second loan at NW's suggestion, but had no idea of the Ppi impact.

Nationwide quickly upheld my complaint, and I received £6000 as a refund!

This made me look more closely at the ppi topic (and start reading these forums!). I made a claim to Barclaycard about ppi that had been added to my account without me realising it. I didn't need it at this stage of my life, as I had cover elsewhere

Barclaycard upheld my complaint and refunded £4500

This money will make a massive difference to my life

So, many thanks again to the MSE team and all forum contributors - you've helped me a lot

amersall

Timmo247 wrote: »

Hello all,

First post on here...

I telephoned RBS regarding a possible PPI claim a couple of weeks ago. They took some details off me and said they would investigate.
I received a letter last week saying that they have been unable to confirm precisely what information I was given at the time the policy was purchased.

They say that 'as a gesture of goodwill' they will offer me just over £640.00 as a refund for the insurance premiums plus interest. I have written back rejecting their offer and stating that I will accept £3500 to make the claim go away. I have also said that if there is no satisfactory conclusion to this then I will make a formal complaint to the Ombudsman as well as instructing my Solicitors.

Can anyone give me feedback as to what my chances are of them accepting my counter-offer or at least negotiating an increase?

Any handy tips would also be appreciated!

Many Thanks,

Tim

Was this a loan or Credit Card, what year were these taken out, are they closed or still running and did you have any paperwork when you made the claim, if a loan, was this settled early?.

As you have rejected the offer you have to give reasons why, if you have proof of PPI paid and the offer does not come to this amount, you can reject.

If you take this to FOS the bank will take away the gesture and it may not get upheld.

-taff

Timmo247 wrote: »

They say that 'as a gesture of goodwill' they will offer me just over £640.00 as a refund for the insurance premiums plus interest. I have written back rejecting their offer and stating that I will accept £3500 to make the claim go away. I have also said that if there is no satisfactory conclusion to this then I will make a formal complaint to the Ombudsman as well as instructing my Solicitors.

Can anyone give me feedback as to what my chances are of them accepting my counter-offer or at least negotiating an increase?

Any handy tips would also be appreciated!

Many Thanks,

Tim

Pointless instructing your solicitors, PPI is not a legal matter.

Also, you cannot 'negotiate' a higher amount unless you can prove you paid more, and that it was missold. They will not negotiate a settlement, they will only offer the recommended redress, which is the premium, plus associated interest, plus 8% simple interest.

Perhaps you'd better read through this
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance