PPI Reclaiming successes and failures

amersall

di3004 wrote: »

Hi hun

This would depend what the whole difference would be in my opinion, if there was a lot more which makes a huge difference, I would try to go for the whole lot of it.;)

good advice from di as usual. will you get the 8% interest as well? its up to you but i would look at this carefully as they may owe you more

amersall

lloydsbuster wrote: »

one letter and 7 weeks later lloyds admitted to uphold my case and pay back £3500 plus interest paid on it at 11.9% plus 8%, my loan is not in arrears but will only pay off the loan and refuse to send me a cheque, any body had this happen to them or changed lloyds mind on this. happy but want the cash to clear more expensive credit......

hi there did you get any further with this?

maxdp

hammersuk wrote: »

Just working out my numbers it would appear that hsbc will be paying all the premiums i paid and then refunding any early repayment charges i paid. As the 2nd loan only lasted 7 months before i refinanced it the £4764 figure looks pretty good now.I know that if i go down the legal route i could Possibly get more but wondering wether im better taking this and running. It hasnt been dressed up as a goodwill payment and they havnt denied responsibility.What ya think?

Hi there hammersuk

If you are happy with the money and are in need of it then it is best to take it. A bird in the hand is worth two in the bush. Also we do not know that the lenders will follow the rules that the FOS are now trying to sort out unless they have been through the FOS. If you see what I mean.

If you wait and go through FOS etc could take up to a year so go for it it is not a small amount and there is not guarantee that if you wait longer you will get more.

Just my opinion.:D Good Luck anyway

di3004

maxdp wrote: »

Hi there hammersuk

If you are happy with the money and are in need of it then it is best to take it. A bird in the bush is worth two in the hand. Also we do not know that the lenders will follow the rules that the FOS are now trying to sort out unless they have been through the FOS. If you see what I mean.

If you wait and go through FOS etc could take up to a year so go for it it is not a small amount and there is not guarantee that if you wait longer you will get more.

Just my opinion.:D Good Luck anyway

You do have a good point here Max, if that money is desperately needed now, then I'm sure its a blessing to have this now, so yes depending on the circumstances, I agree.;)

amersall

maxdp wrote: »

Hi there hammersuk

If you are happy with the money and are in need of it then it is best to take it. A bird in the bush is worth two in the hand. Also we do not know that the lenders will follow the rules that the FOS are now trying to sort out unless they have been through the FOS. If you see what I mean.

If you wait and go through FOS etc could take up to a year so go for it it is not a small amount and there is not guarantee that if you wait longer you will get more.

Just my opinion.:D Good Luck anyway

hi max hows you ? think you are right here, that is a nice amount of money, by the way;)its a bird in the hand is worth two in the bush!!!:rolleyes::D:D

maxdp

:rotfl::rotfl::rotfl::rotfl:Thats the one.:j

archy

What were you reclaiming: ‘Credit Protection Insurance Loan’ on ‘Graduate Study Loan’ of £4000
Who was the provider: HSBC
How much did you get back: £740
Did you get it back after a letter or did you go to the Financial Ombudsman: 1 Letter

I got a Graduate Study Loan’ for £4000 in July 2002, paid off in August 2004. After reading everything in the press and on Martins website about miss-selling of PPI, it was very clear to me that I had been miss-sold, even though I had signed a form at the time. End of Jan 2009 I phoned my branch to request copy of loan agreement, I had thrown it away! They sent me it within 10 days. The policy started over 6 years ago but ended 4 years and 6 months ago – so it was great they had a copy.

I used the ‘Stage Two Letter’ available on this website and claimed I was missold PPI (they didn’t say it was optional) and added a bit tailoring it to my situation. I also added a bit in the letter saying that it was disappointing to note recently that the Financial Services Authority had fined HFC Bank which is part of HSBC Holdings for failing to take reasonable care to ensure that the advice it gave customers to buy Payment Protection Insurance (PPI) was suitable, and for failing to have adequate systems and controls for the sale of PPI.

I sent the letter recorded delivery for £1.08 in early Feb. Then received a letter from HSBC saying they will respond within 4 weeks. Then a second letter from them saying they need an extra 4 weeks.

Then today got a letter saying they are refunding full amount plus 8% interest! £740!!! So it took from sending the first letter to getting the money back just over 9 weeks. I must say HSBC have been very professional since my first contact with them regarding miss-selling.

This is a great website and hats off to Martin Lewis and all the MSE team and regular contributors/helpers to the discussion forums (di3004, maxdp, turboman, amersal et al). I echo what others have said…if you have been miss-sold then put a claim in…it cost me the price of one letter recorded delivery (and a bit of patience).

Good luck!

amersall

archy wrote: »

What were you reclaiming: ‘Credit Protection Insurance Loan’ on ‘Graduate Study Loan’ of £4000
Who was the provider: HSBC
How much did you get back: £740
Did you get it back after a letter or did you go to the Financial Ombudsman: 1 Letter

I got a Graduate Study Loan’ for £4000 in July 2002, paid off in August 2004. After reading everything in the press and on Martins website about miss-selling of PPI, it was very clear to me that I had been miss-sold, even though I had signed a form at the time. End of Jan 2009 I phoned my branch to request copy of loan agreement, I had thrown it away! They sent me it within 10 days. The policy started over 6 years ago but ended 4 years and 6 months ago – so it was great they had a copy.

I used the ‘Stage Two Letter’ available on this website and claimed I was missold PPI (they didn’t say it was optional) and added a bit tailoring it to my situation. I also added a bit in the letter saying that it was disappointing to note recently that the Financial Services Authority had fined HFC Bank which is part of HSBC Holdings for failing to take reasonable care to ensure that the advice it gave customers to buy Payment Protection Insurance (PPI) was suitable, and for failing to have adequate systems and controls for the sale of PPI.

I sent the letter recorded delivery for £1.08 in early Feb. Then received a letter from HSBC saying they will respond within 4 weeks. Then a second letter from them saying they need an extra 4 weeks.

Then today got a letter saying they are refunding full amount plus 8% interest! £740!!! So it took from sending the first letter to getting the money back just over 9 weeks. I must say HSBC have been very professional since my first contact with them regarding miss-selling.

This is a great website and hats off to Martin Lewis and all the MSE team and regular contributors/helpers to the discussion forums (di3004, maxdp, turboman, amersal et al). I echo what others have said…if you have been miss-sold then put a claim in…it cost me the price of one letter recorded delivery (and a bit of patience).

Good luck!


[/QUOTE:j:j:j]this is ace well done:D:D:D

di3004

archy wrote: »

What were you reclaiming: ‘Credit Protection Insurance Loan’ on ‘Graduate Study Loan’ of £4000
Who was the provider: HSBC
How much did you get back: £740
Did you get it back after a letter or did you go to the Financial Ombudsman: 1 Letter

I got a Graduate Study Loan’ for £4000 in July 2002, paid off in August 2004. After reading everything in the press and on Martins website about miss-selling of PPI, it was very clear to me that I had been miss-sold, even though I had signed a form at the time. End of Jan 2009 I phoned my branch to request copy of loan agreement, I had thrown it away! They sent me it within 10 days. The policy started over 6 years ago but ended 4 years and 6 months ago – so it was great they had a copy.

I used the ‘Stage Two Letter’ available on this website and claimed I was missold PPI (they didn’t say it was optional) and added a bit tailoring it to my situation. I also added a bit in the letter saying that it was disappointing to note recently that the Financial Services Authority had fined HFC Bank which is part of HSBC Holdings for failing to take reasonable care to ensure that the advice it gave customers to buy Payment Protection Insurance (PPI) was suitable, and for failing to have adequate systems and controls for the sale of PPI.

I sent the letter recorded delivery for £1.08 in early Feb. Then received a letter from HSBC saying they will respond within 4 weeks. Then a second letter from them saying they need an extra 4 weeks.

Then today got a letter saying they are refunding full amount plus 8% interest! £740!!! So it took from sending the first letter to getting the money back just over 9 weeks. I must say HSBC have been very professional since my first contact with them regarding miss-selling.

This is a great website and hats off to Martin Lewis and all the MSE team and regular contributors/helpers to the discussion forums (di3004, maxdp, turboman, amersal et al). I echo what others have said…if you have been miss-sold then put a claim in…it cost me the price of one letter recorded delivery (and a bit of patience).

Good luck!

Well done to you archy :T:T:T:beer: great news, and we so happy to have been some help.:beer:
Congratulations.:beer::T:beer:X

Shane_Tobi

Having followed Martin's advice I have successfuly recalimed over 1600 pounds from A & L. I would never have known to do this until I read the information on his website.Thank you so much.:j