PPI Reclaiming successes and failures

Hudson17

I had been contacted by a PPI claims company regarding PPI I may be owed. I thought I am not paying 30% of any successful outcome when I can just download the forms from MSE. I have received a cheque for over £9000 from Lloyds TSB for a number of loans dating back to 2002. I had also put in a claim for a credit card I had with them and this was rejected so I am now going to the FOS with that one. This money will really help especially so close to Christmas as my partner has been unable to work due to chronic illness.

Thank you to MSE for the forms. :j

[Deleted User]

remesoldier wrote: »

. As a last resort I used a PPI claims company

Since all they do is forward your letter of complaint, they are in no way responsible for the reverse of the original decision. What makes you think the claims company have any special influence? You give them entirely too much credit (and £1000 of your money to boot:eek:).

remesoldier wrote: »

I decided to use a PPI Company at which point the Bank then decides to pay !!!!

The two are in no way linked.
You said yourself the original complaint and the one the claims company sent on your behalf were identical.

remesoldier wrote: »

So it was my own fault yea right thanks

Nothing you have said has convinced me that you have any case for claiming back the money you owe the claims company from the bank or anyone else. No one advised you to use a claims company.


By the way, can you please explain why the Bank allowed you to make a second complaint? Was your initial complaint met with a "full and final" response?

LindseyAhmet

I sent letters to everyday loans of complaint about the sale of my loan and it's ppi and got a discusting call back from them. Demanded they respond in writing and then I complained to FOS in April 2012. Received a letter from Fos this morning (nov 2013!) basically saying because there is no sales call they cannot prove I was mis sold the ppi or the loan itself!

Feeling ridiculously angry and let down now! However taking it to the ombudsman and told the adjudicatior she has completely skimmed over all the points in my letters

vocal

Having been an observer of this forum for some time I finally decided to apply to MBNA/BOA for the refund of PPI on a credit card which I felt had been mis-sold.

MBNA/BOA replied several days ago stating that my complaint was being upheld and have offered me £6794.The breakdown is as follows:

£4350 Total amount of PPI premiums charged since sale date
£1020 Total amount of associated interest
£1780 Applicable 8% gross interest
-£ 356 Less UK withholding tax
£6794 Total amount payable to me

This surprised me as I have held the credit card for 16 years and I know that the PPI monthly payments averaged approximately £ 45 ( I have most of these statements as proof).

In the letter from MBNA/BOA, it states:

- we have notionally reconstructed your statement balances by removing PPI premiums and associated interest. This includes interest arising because the ongoing monthly balance on your account was higher than it would have been if you had made the same payment behaviour without PPI;

- if there is any statement period where after reconstructing your account your balance would have gone into credit or generated a surplus payment, we have added 8% simple interest to your redress balance.

They also state that payment will be made within the next 28 days and that this amount is in full and final settlement of my claim. I have not been given the option to refuse or accept this settlement. It seems as though they have assumed that I will accept.

From my perspective, it would appear that not all of my premiums have been taken into account and I wonder if anyone could kindly clarify what is meant by the bullet points that I mentioned above. Other than pursuing the FOS, is it a good idea for me to write a strongly worded letter to MBNA/BOA and include most of the evidence (credit card statements showing PPI premiums) and ask them to reconsider as it is very clear that they have been selective in the information used to calculate the settlement. Thanks.

Shimmiii

I was mis-sold PPI insurance by the Yorkshire building society several years ago. I have a PPI insurance certificate with my name as sole beneficiary. However the mortgage was taken out with my ex partner and unfortunately he is a very bitter person and refuses to sign The form of authority. GB say there is nothing they can do and have literally dropped the matter so I contacted the Yorkshire building society directly and they refuse to do anything without a form signed by both parties. I think this is an awful situation why can't I claim for what is mine just because the ex refuses to cooperate - there should be some protection for these situations companies like the Yorkshire building society are just getting away with stuff they shouldn't and taking advantage of the situation.

Does anybody have any suggestions?

Thanks:mad:

[Deleted User]

LindseyAhmet wrote: »

Received a letter from Fos this morning (nov 2013!) basically saying because there is no sales call they cannot prove I was mis sold the ppi or the loan itself!

Feeling ridiculously angry and let down now! However taking it to the ombudsman and told the adjudicatior she has completely skimmed over all the points in my letters

If there is no hard evidence to back up your complaint, it is hard to see the Ombudsman overturning the initial adjudication I'm afraid.

Expect a long wait for the Ombudsman, referrals can take in excess of eighteen months.

[Deleted User]

Shimmiii wrote: »

I contacted the Yorkshire building society directly and they refuse to do anything without a form signed by both parties.

This is only right and correct, it's not the Bank's fault that you no longer communicate with your former partner.

Shimmiii wrote: »

Does anybody have any suggestions?

The only thing you can do is make contact with your ex and suggest that there may be money in it for both of you. Do realise that even if you do manage to co-operate together, that isn't a guarantee that you will be successful.

In addition, make sure you cancel (in writing) any more involvement of GB (Gladstone Brookes?). There is no need to have a claims company taking 25% of any redress you may win.

amersall

LindseyAhmet wrote: »

I sent letters to everyday loans of complaint about the sale of my loan and it's ppi and got a discusting call back from them. Demanded they respond in writing and then I complained to FOS in April 2012. Received a letter from Fos this morning (nov 2013!) basically saying because there is no sales call they cannot prove I was mis sold the ppi or the loan itself!

Feeling ridiculously angry and let down now! However taking it to the ombudsman and told the adjudicatior she has completely skimmed over all the points in my letters

What were your reasons for mis-sell of the PPI and how did you word the letter?.
To prove the loan was mis sold is a long shot, you would have to go to court to sort this out with proof that it was mis sold.

Chuckiem

I've been stalking the forums on here for ages trying to pluck up the courage to approach my old bank for mis selling 2 old loans of mine. Eventually, just as I decided, I received a letter from them to say they thought they had missold me PPI and if I completed the form they enclosed they would investigate for me. I sent off the form 3 weeks ago and received a response back today to say my claim has been upheld. I'm now expecting a payment of nearly £6000 back! :j:j:j

Reasons for it being upheld?
Both of my loans were single premium, I have full long term sick pay through my employer and would receive a redundancy package if the worse ever happened. They also were both taken to consolidate other debts and one paid off the other.

So if you're reading this and thinking about claiming, just do it! I'm so glad I did! :beer:

-taff

vocal wrote: »

From my perspective, it would appear that not all of my premiums have been taken into account and I wonder if anyone could kindly clarify what is meant by the bullet points that I mentioned above. Other than pursuing the FOS, is it a good idea for me to write a strongly worded letter to MBNA/BOA and include most of the evidence (credit card statements showing PPI premiums) and ask them to reconsider as it is very clear that they have been selective in the information used to calculate the settlement. Thanks.

Well, you should have included this info when you complained [that you had proof of payments]. They are saying they have no records of your payments, but you do, so get in touch and rtell them you have copies of your staements and you'd like them to recalculate based on what you have proof that you paid.

The second one means that they only pay 8% interest on any amount your card would have been in credit if the PPI payments hadn#t been taken. It's standard.