PPI Reclaiming successes and failures

[Deleted User]

victorprinzim wrote: »

how can I tell it's ALL the PPI?

Ask for a breakdown of the redress (if the Bank has not already provided one).
Without any documentation, it's impossible for you to be certain of course, but PPI redress is defined.

finlay24

hi all, good news lloyds have agreed with the FOS that my pip was misold, my ppi owed is £1,250 from 2002, just wondering what to expect approx as a payment as i am really intrigued as to what i may receive back.

Also i have recently just started a claim with Sainsburys bank for a loan of £11,000 that i paid £2,401 in ppi, loan started in 2003, i was told that if i didn't have ppi i wasn't eligible for the loan so i took out bronze credit care, also the cheque was delivered by a courier and have been reading that i stand a good chance of getting back my ppi on this case because time frame was short when signing paperwork from the courier, is this right?
Thanks very much in advance for any comments

PPI claiming seems very frustrating at the min but am sure it will be worthwhile in the end.

Jonathon

-taff

You'll get what you paid in PPI, lus the associated interest, plus 8% interest, less any successful claims on it or amounts rebated if the loan was paid off early.

amersall

If the Lloyds loan was repaid in full you get the PPI back and 8%, if you settled early you would have received a rebate of the PPI and they take this off any redress.

Send the complaint to Sainsburys, make the point this was signed for with a courier who waited for you to read the document,then sign before handing over the cheque, I doubt any courier would have waited too long for you to do this.
This was also Single Premium PPI, in effect a loan on the loan that you repaid to term end with interest, had you settled the loan early you would have received a rebate for the PPI but the remaining PPI would have been repaid by you in the settlement, use this as a reason also.

finlay24

Thanks, with the figures given and dates do u know judging by other cases how much I may get back?

Josuzanne

put 3 Claims in Nationwide MPPI for 3 years 2001-2004, Halifax Tmp 2004- now and natwest bank loans back in 2004
other than being told we had to have it to get our mortgage also we both get full 12 month sickness benifit and alway have (still both in same jobs) so we wouldnt have been able to claim if we became sick are these vaild reason

the_insider

Just called Nationwide to chase up my MPPI claim that is over 8 weeks old, apparently they wrote to me a few weeks ago and are going to put a copy of the letter in the post today.
The guy I spoke with said the claim had been rejected and it was all explained in the letter.
Off to FOS I go when I get my hands on a copy, I was asked during the application call if I was interested in taking PPI, as I work for a bank I said I wouldn't take it there and then but would shop around a bit and see what the best quote was. Didn't know I was paying it until I settled the mortgage last year! I also had c. £18,000.00 in savings following completion of the purchase, the mortgage was only for £57,500.00 and repayments were about £300.00 per month. I make that five years of repayments in savings on a 25 year mortgage.
How can they say that's not mis-sold?!

amersall

finlay24 wrote: »

Thanks, with the figures given and dates do u know judging by other cases how much I may get back?

It depends if you settled early or ran to term, if you get an offer, post the figures up and we will see if this correct, or, post up the term, if you settled early and the PPI amount with interest if you have it.

Angel-in-Penwith

Hi,

I tried to reclaim from Paymentshield, but the Ombudsman said that as the claim was taken out in 2003 and they were not signed up then I wouldn't be able to take it further. I paid into the policy until earlier this year and it didn't suit purpose - what a waste of money!

tanyadrhodes

Now have almost closure on my RBS case, so will post it here as a success.

I put in a complaint in August 2013, on a loan of £7500 (I think), that I took out in 2005.

I received an offer of £2216 (after tax) in October 2013, that was to be set off against debts written off within RBS after I entered into a trust deed in October 2009 (discharged in July 2013).

Yesterday, 21 November, RBS confirmed that the surplus of £429 is going to be returned to me by cheque. They also haven't yet claimed their dividends of around £230 from AiB and they confirmed that they don't intend to as they no longer have a need for those funds, but I don't know what happens next. I'm hoping it can go back to my trustee for distribution to other creditors, and not just sit in limbo until it would reach the time limits and go to the treasury, but we'll see.

Happy to have cleared a debt in entirety, and also to have a small pot of money to make a lovely Christmas for my lovely daughters, best case scenario really. :j

Thanks to DunstonH, Insider101, Moneyineptitude and Taff for their honest advice and fast responses to questions along the way.

4.02pm update - spoke to AiB, and the treasury will get the trust deed dividends after the 7 year period, as the only people who can release it from AiB are RBS. Shame that it can't go to clear another portion of my written off debt, really.