PPI Reclaiming successes and failures

amersall

stevefen23 wrote: »

Cheque for £797 today from Alliance and Leicester!!

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

amersall

The_Chob wrote: »

Less then two weeks ago, I complained to Alliance and Leicester about PPI insurance I had been sold for a loan in 2004 and when I refinanced in 2007. The reply I received from A&L was an offer in excess of £4,000.00. I have accepted.

I used some of the text from templates on this website. Proof positive that it really does work. My thanks to all concerned.

:j:jthats great:j:j

mlucyminx

lsc1874 wrote: »

Hi all, like many on here, I have been lurking whilst waiting for an answer from HSBC about my loan PPI. Felt obliged to post now though to inform everyone that they have upheld my complaint.

My loan was taken out in 2004, and was to the tune of around 30k with 8k worth of PPI or thereabouts. I wrote one letter, got an initial 'we need more time' letter within 4 weeks and then this morning confirmation that they are refunding £4,794.62 plus £877.44 interest, totalling £5,672.06!! To say I am delighted would be an understatement!

The basis of my complaint was that they insisted on me taking the PPI and indicated that granting the credit would be dependent upon this fact.

I also have to point out that HSBC have been absolutely fantastic to deal with. They have responded promptly, they have been fair, an absolute joy to deal with. They are now restructuring the loan on the same interest and term but without PPI, which should lower the repayments by around £100 per month also.

Thanks to MSE (and my work for paying postage!) I am a very happy chappy!

Cheers!!

Well done you

mlucyminx

stevefen23 wrote: »

Cheque for £797 today from Alliance and Leicester!!

well done to you

pinknico

Well done to all last weeks winners, heres hoping this week there are many more. xx

Lusty

Lusty wrote: »

The story so far,I rang the 0800 No above too cancel the PPI and as suspected I was put through to their "dirty tricks"department.
After some more high pressure selling techniques from the woman at the other end explaining to me that if I didn't have this insurance I would be battered with fire and brimstone or words to that effect,I held fast and got it taken off.
Now here comes the good bit.
I thought it would be just a case of the payment for the premium being removed and just carrying on as before BUT oh no.
She said that it wasn't as simple as that and said I'd have set up a new loan agreement with out PPI added which we did on the phone but I haven't signed any papers yet until I get some advise from here.
A settlement figure was worked out obviously adding any outstanding interest.
The new monthly repayment figure is £33.35 more than it was if I were to stay with the original agreement(which they say I can't do).
The original agreement was £274.77+£120.77 for the PPI premium and the new figure is(if I wish to take it)£308.12 without the PPI agreement!
I have a strong hunch that their trying to rip me off again and I think this is wrong.
I haven't got a problem with paying them what I owe them BUT they shafted me into the PPI in the first instance and I can't see why I shouldn't be paying them the original amount minus the PPI premium.
Please advise.

Hello Chaps and Chicks.I've just got married again and been on my Honeymoon so I ain't been around for three weeks.
Anyway here is the latest installment from Lloyds TSB and I need a bit of advise as what to put in the next letter to parry off their latest blow so to speak so here goes.
Anything in brackets are my thoughts.

Dear Mr Lusty
Thank you for telling us of your feelings about the problems you've had with your Personal Loan.
You've said that:
Your loan protection insurance was mis-sold and as a result you have requested a refund of the charges paid thus far.
You are unhappy that the proposed monthly repayments on a refinanced loan are in excess of the original repayments minus loan protection.You are unhappy with this and would like us to look into it.(If it had been done right in the first place this wouldn't have bloody well happened!)
When a customer signs for a loan protection insurance,there is a 30 day cooling of period during which they may cancel the policy outright.After this time their loan must be refinanced in order to remove the insurance policy.I can see that you have been paying loan insurance premiums since you signed for the product when you opened your loan in February 2008.I would have expected you to contact us before now if you were unhappy with it.I am unable to see that we mis-sold the product based on what you say in your letter an am unable to justify a refund of premiums paid for this reason.(Listen here,PAL!I was told in no uncertain terms that the PPI was nessecary to obtain the credit and at no time whatsoever was I informed that this was optional and !!!!!! the 30 day "cooling off" period as at the time I wasn't aware of my rights as I am now!)
I am sorry to hear that you are unhappy about your proposed monthly repayments being higher than your original repayments minus the loan protection insurance.(We're not sorry at all and we just want your money and couldn't give a toss!)
When you agreed to the loan,the cost of the loan protection was added to the original amount you asked to borrow.We charge interest on the whole amount borrowed.If you decide to refinance the loan(I didn't decide you did!),you will receive a partial rebate on the additional amount attributable to the loan insurance.
However,this will still leave you with the total amount being £14,355.This is higher than the £14,000 originally borrowed and as you've said the repayments will be naturally higher.Although I can appreciate that you're unhappy with this situation,I can't see that a bank error has been made and as such I am unable to accept your complaint.(What bank error?I never suggested there was a bank error,all I said was that I was "made"to take out PPI!)
Our Personal Loan Service Centre has advised me that this offer is valid until the 16th April 2009.You should return the documents they sent to you if you wish to agree to the new terms on your new loan.If you have any queries about this,please contact them on 08700102856.
I'm sorry we don't feel able to agree to your complaint but if you have any new information that you feel may lead me to reconsider my decision please let me know.
If we cannot come to an agreement,I will provide details of the Financial Ombudsman Service so they can consider your complaint independently.(They calling my bluff and yes,I'll play!)
As long as you are happy with the way I have dealt with your complaint,there is no need for you to reply to my letter.If I have not heard from you by 10th June 2009(YOU'LL be hearing from me this week Buster!) ,I will close my file(You wish!),although I will re-open it if you cme back at any point afterwards.
Your Sincerely
Robin Thieves C/O Lloyds dirty tricks department
Well good people,what is the best way to proceed or should I now go to the FOC?
Thanx in advance.

di3004

Lusty, you just stand your ground !

What they have sent you is a standard fob off response, this is Lloyds all over, you may have heard that they reject approx 95% of these complaints.
Keep it going.

With mine, I did not cancel because then not knowing how these worked, I assumed the PPI was all part of the agreement, for instance if I were to cancel, I thought the whole lot had to be paid off.
The FOS seen my point.

You just write back to them and tell them, your unhappy with their response and you were mis sold the policy with your own reasons, and you will take this further if they do not uphold this in your favour.

However, the main of these complaints with this company tend to be resolved through the FOS, its up to you if you want to write back and give it another go, but I'm the FOS will eventually resolve this for you.

Good luck either way.;)

beaniebabe

funkyc27 wrote: »

Does anyone know how i will find out if Picture has been put in `default`??

I contacted FSCS today and asked if there was any news as to when picture would be declared in default. The whole thing is being looked into by their legal department and they would not give me any idea as to how much longer we would have to wait. They informed me that the whole process could take upto 18 months!!:mad: (I hope this is from the very start of the process and not from now!!).
If I hear anything else I will let you know.
Lets hope its not too long !!:o

funkyc27

beaniebabe wrote: »

I contacted FSCS today and asked if there was any news as to when picture would be declared in default. The whole thing is being looked into by their legal department and they would not give me any idea as to how much longer we would have to wait. They informed me that the whole process could take upto 18 months!!:mad: (I hope this is from the very start of the process and not from now!!).
If I hear anything else I will let you know.
Lets hope its not too long !!:o

I found on a web site that in Jan 2008 they where going through the default process so surely its nearly 18 months!!

pinknico

Thanks for that beaniebabe. I really hope its not that long that takes it to CHRISTMAS!!!! The legal department can't take that long to decide what criteria to use to access claims, I could do it in 5 minutes!!!!
Heres hoping for some good news soon.xx