PPI Reclaiming successes and failures

amersall

ichivers wrote: »

I took out an £11,000 loan over 7 years in May 2003 with Abbey. I printed off the template letter from the Which website (sorry MSE!). Abbey replied with a letter and a questionnaire they wanted me to fill in, this was a week or so ago now. After reading some posts from the members of this forum, I was going to write them a letter saying I wasn't answering their questions. But, today I got another letter offering a settlement of over £3,000. Result!

:j:jthats the way to do it well done:T:T:T

di3004

ichivers wrote: »

I took out an £11,000 loan over 7 years in May 2003 with Abbey. I printed off the template letter from the Which website (sorry MSE!). Abbey replied with a letter and a questionnaire they wanted me to fill in, this was a week or so ago now. After reading some posts from the members of this forum, I was going to write them a letter saying I wasn't answering their questions. But, today I got another letter offering a settlement of over £3,000. Result!

Well done to you, Congratulations !
:beer::T:beer:X

maxdp

Well done Ichivers.:j:j

Unowned

Hi All,

I took out an Egg loan back in 2004 and refinanced the loan several times.

This was my first mistake. I remember realising, after looking at the most recent loan document a couple of years ago, "They've scewed me over on the insurance!"

Essentially I was never told that the payment protection wouldn't be fully refunded and a new policy taken out (if they even mentioned a new policy - I'm pretty sure they included it by default at some point as well). They also did all the usual things, implying that the insurance was essential, saying I wouldn't get the loan without it etc etc.

At that point, I was pretty !!!!ed off to say the least, but I didn't think there was anything I could do about it.

I heard an advert on the TV a couple of months ago about reclaiming PPI which immediately peaked my interest, so I did some further research.

I was pleasantly surprised to see an article on this site, so I had a read through the article on how to go about reclaiming the PPI, and sent the letters off the next day.

I sent off the first letter to Egg on the 1st March, and received a letter on the 1st April saying they're still looking into it.

I got home today, and there was another letter waiting:

After carrying out their review, they have credited the loan with £3,900 and the payments have been reduced by 70%.

:T

All of that from ONE letter! Thank you Moneysavingexpert!

I've also sent a similar letter to Black Horse Motorcycle Finance - I am in a similar situation with the payment protection insruance on my motorcycle finance.

That one might be more complicated, because Black Horse have already written back saying that <Bike Dealer> sold me the policy so they are not responsible.

I think that one might end up at the Ombudsman, but I believe I have an equally strong case.

I remember the guy (bike salesman) who organized the finance did say they were regulated by the FSA (Although I assume he was talking about Black Horse - so that one might get confusing, because who got the all important commission for mis-selling me the insurance? )

In any case, thats 1 down, 1 to go, wahey!

di3004

Unowned wrote: »

Hi All,

I took out an Egg loan back in 2004 and refinanced the loan several times.

This was my first mistake. I remember realising, after looking at the most recent loan document a couple of years ago, "They've scewed me over on the insurance!"

Essentially I was never told that the payment protection wouldn't be fully refunded and a new policy taken out (if they even mentioned a new policy - I'm pretty sure they included it by default at some point as well). They also did all the usual things, implying that the insurance was essential, saying I wouldn't get the loan without it etc etc.

At that point, I was pretty !!!!ed off to say the least, but I didn't think there was anything I could do about it.

I heard an advert on the TV a couple of months ago about reclaiming PPI which immediately peaked my interest, so I did some further research.

I was pleasantly surprised to see an article on this site, so I had a read through the article on how to go about reclaiming the PPI, and sent the letters off the next day.

I sent off the first letter to Egg on the 1st March, and received a letter on the 1st April saying they're still looking into it.

I got home today, and there was another letter waiting:

After carrying out their review, they have credited the loan with £3,900 and the payments have been reduced by 70%.

:T

All of that from ONE letter! Thank you Moneysavingexpert!

I've also sent a similar letter to Black Horse Motorcycle Finance - I am in a similar situation with the payment protection insruance on my motorcycle finance.

That one might be more complicated, because Black Horse have already written back saying that <Bike Dealer> sold me the policy so they are not responsible.

I think that one might end up at the Ombudsman, but I believe I have an equally strong case.

I remember the guy (bike salesman) who organized the finance did say they were regulated by the FSA (Although I assume he was talking about Black Horse - so that one might get confusing, because who got the all important commission for mis-selling me the insurance? )

In any case, thats 1 down, 1 to go, wahey!

Brilliant, Congratulations and Well done !
:beer::T:beer:X

amersall

Unowned wrote: »

Hi All,

I took out an Egg loan back in 2004 and refinanced the loan several times.

This was my first mistake. I remember realising, after looking at the most recent loan document a couple of years ago, "They've scewed me over on the insurance!"

Essentially I was never told that the payment protection wouldn't be fully refunded and a new policy taken out (if they even mentioned a new policy - I'm pretty sure they included it by default at some point as well). They also did all the usual things, implying that the insurance was essential, saying I wouldn't get the loan without it etc etc.

At that point, I was pretty !!!!ed off to say the least, but I didn't think there was anything I could do about it.

I heard an advert on the TV a couple of months ago about reclaiming PPI which immediately peaked my interest, so I did some further research.

I was pleasantly surprised to see an article on this site, so I had a read through the article on how to go about reclaiming the PPI, and sent the letters off the next day.

I sent off the first letter to Egg on the 1st March, and received a letter on the 1st April saying they're still looking into it.

I got home today, and there was another letter waiting:

After carrying out their review, they have credited the loan with £3,900 and the payments have been reduced by 70%.

:T

All of that from ONE letter! Thank you Moneysavingexpert!

I've also sent a similar letter to Black Horse Motorcycle Finance - I am in a similar situation with the payment protection insruance on my motorcycle finance.

That one might be more complicated, because Black Horse have already written back saying that <Bike Dealer> sold me the policy so they are not responsible.

I think that one might end up at the Ombudsman, but I believe I have an equally strong case.

I remember the guy (bike salesman) who organized the finance did say they were regulated by the FSA (Although I assume he was talking about Black Horse - so that one might get confusing, because who got the all important commission for mis-selling me the insurance? )

In any case, thats 1 down, 1 to go, wahey!

:j:jgood for you well done:j:money:

Kim2009

Hi All, me again....

Just a quiclk post to say, yesterday after a long day in the office, I came home to find another letter from ABBEY (16/04/09)! Except this time from out of the blue! I thought what could this be, as I had recieved statements etc to date.... Opening it, it was from their compliants dept again (mentioning that I'd taken out a loan in 2003 (for £2000) which ended in 2005 and they were going to repay my PPI on this loan too!!!! It wasnt for as much, £420 :j but every little helps (especially at this time) ..... So for those of you out there who have had previous loans which have ended, you can reclaim these charges too! They may even beat you too it.
**Good Luck** :rotfl:

amersall

Kim2009 wrote: »

Hi All, me again....

Just a quiclk post to say, yesterday after a long day in the office, I came home to find another letter from ABBEY (16/04/09)! Except this time from out of the blue! I thought what could this be, as I had recieved statements etc to date.... Opening it, it was from their compliants dept again (mentioning that I'd taken out a loan in 2003 (for £2000) which ended in 2005 and they were going to repay my PPI on this loan too!!!! It wasnt for as much, £420 :j but every little helps (especially at this time) ..... So for those of you out there who have had previous loans which have ended, you can reclaim these charges too! They may even beat you too it.
**Good Luck** :rotfl:

:j:j:j:jwell done:j:j

Kim2009

Hi Josom, Hopefully you will recieve contact soon. From start to finish it took me around 2 - 2 1/2 weeks to get it sorted. You'll most prob get a questionnaire to fill out inthe next week im guessing- I would advise you to fill this out and send it back to them a.s.a.p. In regards to their complaints dept number, I currently do not have it on me, so I'll get it tonight and send it to you. Keep me posted on how your claim goes! **Good luck** Kim

ccmug

PPI on Egg credit cardRefund £1945.94 Only required one letter - on this occasion but see the story belowWhen I applied for my Egg card exactly 6 years ago they were giving 3 months PPI free. Being self-employed I was always wary of whether these would pay out so declined them from everyone and told Egg at that point that I'd take their 3 months but wanted it cancelled thereafter.I'm was a lazy !!!!!! finacially and a bit of an ostrich and as i rarely used my Egg card coz I'd almost maxed it out paying a tax bill i didn't check my online statements. Until I received an overlimit letter to find I was still paying the PPI.I had correspondence with Egg about this - it was before the whole big PPI thing blew up - and they basically rejected my claim for refunds on the basis they couldn't access the phone records for the sale. So i gave up.No being deep in the brown and slimy stuff finacially and seing that one of the reasons to re-claim was that a business had been fined for mis-selling I decided to have another go. I quoted that and also my previous attempts to claim and - hey presto.But I didn't know the basis on which they had calculated the amount so I phoned them. They tell me that they and the ombudsman agree that they pay the premiums and the 8% interest, but at no time with or without the premiums would my account have ever been in anything other debit, I have been paying their interest on the premiums. I believe I'm entitled to this and have posted another thread asking the question.Hoping there is more to come!Thank you Martin for this site and all your sound and down to earth advice - you are a star