PPI Reclaiming successes and failures

Rone_2

Hi All.. After 19 months wait.. we recieved a letter from loans.co.uk stating they were in receipt of the complaint from FOS that following thier investigations our complaint has been upheld. Also that the FOS will be in touch shortly with an offer letter.
This loan was taken out in 2007 :
£20000 with
£5440 PPi added to the loan single prem which only lasted 5yrs and has since closed. We pay £306 pm and have 6yrs left on the loan. Can anyone give me an idea how they work the refund out ..from what I have read they deduct it from the ongoing loan and lower the payment and only refund a small amount am I correct ?

Thank you for your time.

[Deleted User]

Rone wrote: »

Can anyone give me an idea how they work the refund out ..

You'll receive a refund of all PPI paid with an added 8% simple interest. Your ongoing loan will then be re-worked without any PPI. Only if you are in arrears or default should they actually off set the redress against the loan.

Rone_2

No arrears or defaults.. will look forward to thier letter!

Thanks for the reply

solwaymrs

Credit Card PPI:

1) Virgin/MBNA - filed complaint with them March 2013 using FOS questionnaire on grounds of self-employment. Upheld and cheque for £1543 sent 26 April 2013 (incl. interest etc).

2)RBS/MINT - filed complaint Jan 2014. Received offer of £3304 (incl interest etc) on 12 Feb 2014

3) I have been battling LLoyds since 2012. I submitted a new application in Jan 2014 (FOS Q) with new grounds for mis-selling I got from a recent Guardian article and although 6 month limit has expired, they are willing to reassess my application & phoned me at home last week for more details. I am waiting for their decision. Capital One however, has rejected my new application Jan 2014 citing 6 month lapse since my first March 2013 application, in spite of me citing new evidence/stronger grounds for mis-selling as reason for new application.

I sense a desire on part of RBS and LLoyds to put PPI behind them - a far more conciliatory tone. Same cannot be said of Capital One.

Is it worth all the soul destroying hassle? Definitely!!!!

AnthonyGallagher

Hi all

This is my first post but have read the forum lots and love how everyone shares their knowledge....sooo useful!

I am writing this thread to see if anyone can provide some insight into my PPI situation.

My car loan was paid off at the end of March 2013 over a 4 year term. I only just looked through my documentation whist reorganising my papers and found a Credit Protection Insurance policy document. I was adamant I didn't have any insurance hence not looking into it and stumbling across it a year later. I have made some inquiries with Santander and they responded with a letter which stated the following:

"Having completed a search or our records I can find no details of any Payment Protection policy purchased bu you via ourselves. Unless you can provide more information, I am unable to assist you further."

Reading through the document more carefully the policy document (even though on Santander letterhead) states that it is underwritten by The Prudential Assurance Company Limited and Pinnacle Insurance plc. Under Pinnacle Insurance plc in a box at the top of the policy there is a policy number and policy date.

My question is: Who do I claim back the PPI from? Is it Santander or Pinnacle Insurance? I was genuinely unaware I had paid this and surprised when I looked through my paperwork as I have a permanent full-time job that pays 6 months full pay and 6 months half pay if incapacitated.

Any advice is very much appreciated.

Kind Regards

Anth

lou_to_you

hi all, am new here,and after reading all the success stories it has spurred me on to look into ppi. After contacting several creditors/banks we have been told that we had ppi on 2 mortgages,1 secured loan and 2 u/s loans!!....but when i phoned the bank in question with my complaint,[ppi complaints line]....they tried to tell me we had no accounts with ppi on!!.when i said that i was told otherwise a few days earlier,and given this no to ring....she then said ok i will start a complaint for you!!....just abit confused and was wandering has this happened to anyone else?......Thanks.

amersall

AnthonyGallagher wrote: »

Hi all

This is my first post but have read the forum lots and love how everyone shares their knowledge....sooo useful!

I am writing this thread to see if anyone can provide some insight into my PPI situation.

My car loan was paid off at the end of March 2013 over a 4 year term. I only just looked through my documentation whist reorganising my papers and found a Credit Protection Insurance policy document. I was adamant I didn't have any insurance hence not looking into it and stumbling across it a year later. I have made some inquiries with Santander and they responded with a letter which stated the following:

"Having completed a search or our records I can find no details of any Payment Protection policy purchased bu you via ourselves. Unless you can provide more information, I am unable to assist you further."

Reading through the document more carefully the policy document (even though on Santander letterhead) states that it is underwritten by The Prudential Assurance Company Limited and Pinnacle Insurance plc. Under Pinnacle Insurance plc in a box at the top of the policy there is a policy number and policy date.

My question is: Who do I claim back the PPI from? Is it Santander or Pinnacle Insurance? I was genuinely unaware I had paid this and surprised when I looked through my paperwork as I have a permanent full-time job that pays 6 months full pay and 6 months half pay if incapacitated.

Any advice is very much appreciated.

Kind Regards

Anth

On the loan paperwork, does it show PPI and was it included in the repayments that you made? if not, you did not take it.


Did you purchase the car from a dealer?, if you did then make the claim to them if you did have PPI, if you took a loan and then purchased the car, make the claim to Santander, enclose copies of the loan agreement and the insurance paperwork with your reasons for mis sell.

julesp73

Hi, i have had my ppi claim against lloyds bank upheld by the FOB, i received the letter about 7/8wks ago but as yet i haven't heard anything from the bank, does anyone know how long they usually take and will they tell me the working out of payment as i only know that there is 4 different loans but not a clue how much any of them were for,also i have been told that as the bank is taking so long to reply they might be fighting the judgement against them and if they are it will take roughly another year..... please help

[Deleted User]

julesp73 wrote: »

Hi, i have had my ppi claim against lloyds bank upheld by the FOB,

Duplicate post, answered already here:
https://forums.moneysavingexpert.com/discussion/comment/64748021#Comment_64748021

jooboo

MBNA - I emailed them to complain that I didn't think I should be paying for a PPI when I was paying off my balance every month. They sent me a complaints letter which all I had to do was sign and send back. Within 2 weeks I had a letter saything they were going to give me £2223.00 which I recieved a week later. RESULT :beer:

I have now emailed Barclaycard so watch this space!