PPI Reclaiming successes and failures

-taff

Zzippyman wrote: »

I'm quite satisfied however that we had no need for PPI at the time and can only reiterate what I said in my first post as being our prime argument: that "we clearly remember the strongly implied message that we would not have been granted a mortgage had we not taken out a mortgage payment protection policy" .

https://forums.moneysavingexpert.com/discussion/4729898

Zzippyman

-taff wrote: »

The link you supplied

Thank you again Taff. That link was useful, if only to reassure me that - despite the different timescales - we're not alone in having felt pressured to take out such protection. As I mentioned earlier, we don't expect the FOS to uphold our complaint, indeed they hinted as much based on trends they've established when I contacted them two days ago, but they still encouraged me to continue with my complaint.

mitre10

What were you reclaiming: Personal Loan over six years, final payment was March 2013

Who was the provider: HSBC

How much did you get back: approx. £8,100

Did you get it back after a letter or did you go to the Financial Ombudsman: Letter with MSE form to HSBC

And then write your brief reclaim tale:

Had several credit cards at time of loan and was cold-called by HSBC (my primary bank) who had probably noticed various payments going out from my account to them and others to pay monthly card balances/charges.

They strongly suggested a loan to consolidate, was in a bit of a financial mess at the time so agreed. Was sold PPI almost as if it was part of the loan but was implied that a condition of the loan would be my acceptance of the PPI as an integral part. Not asked if I had any other means of repayment in the event of illness/redundancy etc.

When loan repayment ended, looked up my work contract at the time and sent them a copy including all terms which would have adequately covered any loan repayments in the event of the above.

Letter back in two weeks with offer, Acceptance sent two days later, money in account within 8 days.

Cheers MSE and all posters on this thread whose advice I read before submitting my claim.

baggyann

:j

Bank - Halifax
Type - Mortgage Protection
Amount awarded - over £4500 :T
Claim type - FOS template form. chaser call to confirm 'recollection' from the Halifax. Claim was upheld and funds issued within three weeks. No further letters/Ombudsman required.

Hi all, my husband and I were mid-sold after we were told as first time buyers it would look far more 'responsible' if we took the payment protection. We didn't need it at the time, due to worker benefits and a small inheritance.
We didn't cancel the policy as we were told it was good for your credit score to appear as though we were taking our responsibilities seriously. It was only on becoming a mortgage adviser myself that I understood that 'optional' and 'unconditional' meant what it said, and I cancelled the policy. I was tempted by the third party companies but decided to go it alone.

I would urge anyone looking to claim not to use these companies - they do not add any weight to your claim and can often hinder it as they don't personalise the claims, they just use token one-sentence responses. (I know as my husband works for a PPI complaints team)
I appreciate it's scary but you can't go wrong with honesty and the forms just ask for an idea of what happened. I would recommend filling out the form rather than completing a phone complaint. You can get more detail down, keep a copy and refer to it if you need to. It's important for continuity in your story.

**** BIG piece of advice**** On mortgage claims, they often only pay out the PPI element (ie, the part of the policy that covers you for accident, sickness and unemployment). However most of the time you were also paying for a life and critical illness cover, so if you want to claim this back you need to submit a new claim for these elements (making reference to the previous successful claim) or make it clear in the original complaint that it is the WHOLE policy that you feel was mis-sold, not just the PPI element.

Hope this helps you guys!:)

loulie

I took out a loan with Natwest over 6 years ago to help towards my wedding costs. I recently received a letter from Natwest informing me that were investigating mis-sold PPI insurance on loans with a form to complete if I believed I had been mis-sold PPI. I immediately went on to the money saving expert website to get more information on PPI and how it could have been mis-sold. Armed with the knowledge I gained from the money saving expert website I completed Natwest's form and returned it to them-it took me 10 minutes to do. Within 2 weeks Natwest responded to my PPI claim offering me over £2000 in compensation which I have used to pay off my credit card in full-something that would have taken me years to do. so thank you money saving expert for your helpful information.

Kshirl

I complained about a number of loans with Halifax and Lloyds TSB. I received payments from both places. However, Halifax said that I didn't have PPI on a couple of loans despite them not being able to provide me with paperwork. Therefore, I complained to FOS. I sent my complaint in April 2012. I received an acknowledgement letter but haven't heard anything else since. I phoned a few months ago and was advised that they still hadn't reached my complaint. Does anyone know how long the FOS are taking to deal with complaints for Halifax?

Thanks.

quidsy

They usually advise 18 months but have been quicker in clearer cases.

Just one question, did you provide paperwork proving you had ppi? Cause if not & as Halifax have no paperwork, how can the FOS make a descion?

moohound

Got a cheque from Lloyds tsb for £3105.58 for ppi on loan taken out 8 years ago. Very happy. Still waiting for responses from EGG and Black Horse.

Kshirl

quidsy wrote: »

They usually advise 18 months but have been quicker in clearer cases.

Just one question, did you provide paperwork proving you had ppi? Cause if not & as Halifax have no paperwork, how can the FOS make a descion?

The loans that I complained about to Halifax were all taken out one following on from the other. Each loan was to repay another loan. On each occasion I was forced to take PPI or I would not have received the loan. I neither needed it nor asked for it. I asked Halifax to send me copies of the loan agreements and they said that they couldn't as their records didn't go as far back as that. Therefore, how can they reject my claim and say that I never had PPI when they can't provide me with the proof?

Mcai7zh2

I have one going through with MBNA at the moment - not sure what the outcome will be but the girl who sold it was VERY VERY pushy and insisted I take it.