PPI Reclaiming successes and failures

Insider101

sweetypi wrote: »

hi there

i have finally got a reply from rbs , they have made an offer of £3084 for a two loans total £47000,00 this was paid with in a year .... they are my partners loans he took out about 7 years ago , i filled out the forms as per the website , my question is is this amount right i have been looking on the website and people with lesser amounts seem to get more back , i have also gone on some calulators and the amounts are about £10000,00 round about there .... do we accept the offer ?? if not how do we go about getting more back , i would be happy with £6k if that is the case .....

do i go to one of these ppi companies , i am not sure now please help

They're not going to be of any use. They are not some kind of courtroom brawlers who are going to take the bank by the scruff of the neck and wring more out of them. Banks have nothing but contempt for them.

The redress (assuming this is what it is - full redress) is calculated in accordance with a set mathematical formula. It's not something you can haggle over. You can't compare what other people got as a guide. It depends on all sorts of things such as the original PPI premium, interest rate and most importantly how long the loan ran for, I.e whether it went full term or was settled early.

sweetypi

thanks you have been most helpful, its mind boggling all of this, looking for the forms was easy on the site and a template to fill in so all i can say is thank you ... so will accept the offer and the skiing holiday will be paid for !! xxx

-taff

sweetypi wrote: »

hi there

i have finally got a reply from rbs , they have made an offer of £3084 for a two loans total £47000,00 this was paid with in a year

You paid them off early, so you wouldn't have paid the full amount of PPI.

ffc1989

Hello everyone,

Firstly apologies if posting in the wrong section - I did initially try via the 'PPI questions board' but it is closed and I can't see how I can get in??

Anyhow, i'm hoping for your advice.

After several months of delays and waiting I have been told I have not been mis-sold PPI from Santander therefore Rapid Legal (who I went through to see if there was any) are to refund their initial fee which I believe is standard procedure?

What I am confused about is that the PPI claim was on a credit card in which they took the payment for. I have not used the credit card whilst this claim has been ongoing, nor was there any outstanding debt on beforehand. I have had to pay the minimum payment on the credit card each month resulting to interest being added whilst this claim has continued at the advice of Rapid Legal and they always informed me that if the claim was unsuccessful a credit back for the ‘interest’ will be made. What I failed to ask is by whom?

Rapid Legal now say that Santander will realise that the minimum amount paid has been for a PPI claim meaning they will refund whilst I have my reservations on this especially as it was unsuccessful. Why would Santander pay me back any interest fees for an unsuccessful claim? From speaking with others who have had unsuccessful claims they have said it is down to the agent who you took the claim out with. Are there any clear guidelines I can go by?

So any thoughts people? Thank you.

nikkiw34

Well I'm in total shock. I put a claim in against my Halifax CC. I received a letter on the 25th saying my claim would be upheld and 5 days later my cheque arrived for £1314.57. They are only paying up to July 2007 as I got myself into financial difficulty and my card was sold on to a debt recovery. There is still a balance on the card and I actually thought the money would be sent to them but hey ho I'm sat starting at my cheque :-) Happy days!!! Its only taken just over 4 weeks from start to finish. I also have claims going through with other lenders so hopefully I'll be just as successful.

Haylassy

What were you reclaiming: Gold Credit card
Who was the provider: HSBC
How much did you get back: £3900
Did you get it back after a letter or did you go to the Financial Ombudsman: The standard letter
And then write your brief reclaim tale:

A gold credit card was upsold to us with our Mortgage nothing was asked or explained - it was just done as we were leaving the branch by the Mortgage guy. He just said "oh you can get a Gold card now - would you like one" "we say yes". The PPI was added and during the signing for the mortgage we signed tonnes of stuff marked up with X's. We found the documents with our mortgage pack recently. During all this time (10 years) there was no checking for suitability, sickpay, medical conditions etc.

HSBC have sent an offer letter today (8 weeks later) that repays the PPI payments plus 8% interest (minus tax) so total £3900

Happy days as in the last 3 days we have been offered just over £5000


Urge anyone who thinks they have a claim to try it - only costs the postage. Its one of the easiest DIY jobs going!!!

artdeco43

Hi read other people's stories and I thought things like that never happen to me, but nothing ventured nothing gained

5 forms filled in at a cost of £3:00 for stamps and an hour of my time filling in forms. This was for me and my husband. Sent one to Lloyds TSB, two to Tesco's loan, one to Black Horse Finance and one to Barclays Bank. Receipt letters from all and eight weeks later

Barclays complaint not upheld
Tescos both upheld over £2,000 on each
Black Horse Finance £700
and !!!! Lloyds TSB £15,000

This has changed our outlook on everything, we can afford Christmas we've cleared debts and have some SAVINGS

If I hadn't looked at this forum I would never have done it so thank you all from the bottom of my heart. For all those who think its not worth it IT IS:j

amersall

ffc1989 wrote: »

Hello everyone,

Firstly apologies if posting in the wrong section - I did initially try via the 'PPI questions board' but it is closed and I can't see how I can get in??

Anyhow, i'm hoping for your advice.

After several months of delays and waiting I have been told I have not been mis-sold PPI from Santander therefore Rapid Legal (who I went through to see if there was any) are to refund their initial fee which I believe is standard procedure?

What I am confused about is that the PPI claim was on a credit card in which they took the payment for. I have not used the credit card whilst this claim has been ongoing, nor was there any outstanding debt on beforehand. I have had to pay the minimum payment on the credit card each month resulting to interest being added whilst this claim has continued at the advice of Rapid Legal and they always informed me that if the claim was unsuccessful a credit back for the ‘interest’ will be made. What I failed to ask is by whom?

Rapid Legal now say that Santander will realise that the minimum amount paid has been for a PPI claim meaning they will refund whilst I have my reservations on this especially as it was unsuccessful. Why would Santander pay me back any interest fees for an unsuccessful claim? From speaking with others who have had unsuccessful claims they have said it is down to the agent who you took the claim out with. Are there any clear guidelines I can go by?

So any thoughts people? Thank you.

You should not have paid an upfront fee, I know hindsight is a good thing but you know for future reference and you should not have used a Credit Card .

I don't think that you will get the interest back to be honest, you used the CC and so knew it would incur interest unless cleared before charges added so putting the onus on the claims co would be very hard.

Do you have it in writing that the interest on the card would be given back to you? if you do then you can use this.

I really don't know what else you can do to be honest, sorry, maybe others will have a different take on this and can help you more.

ffc1989

Thanks for the note, the strange thing is I had a previous unsuccessful claim with a different reclaim company which failed but they seems disinterested from day one and they did pay back the interest. Looking through paperwork, emails it doesn't look like I have anything in writing.... it's not a huge amount but enough to be annoyed with and the time consuming thing as well. I guess you live and learn and a warning for others to be 100% sure on things before going through with something.

Frozbie

Hi all,

I tried claiming back PPI from The Co-operative Bank last year. They rejected my claim stating it was not miss-sold. I complained to the Financial Ombudsman who have not upheld my complaint and have found in favour of The Co-operative Bank.

The PPI was on a mortgage taken out in 2006. In 2010 I was unemployed for five months but as The Co-operative bank don't remind you you are paying PPI insurance, I'd forgotten I had it.

The Co-operative Bank did say it would be possible to put in a backdated claim for when I was unemployed but reading through all the terms and conditions I doubt this is an option as I left permanent employment in 2008 to become a contractor.

I was fortunate enough to have a rolling contract until March 2010 but was then given notice. I was out of work for six weeks then got a five month fixed term contract. Then was unemployed for five months.

Do I have any options left?

Is it worth even trying to put a backdated claim in?