PPI Reclaiming successes and failures

suziqqq

I received a letter on the 30th April 2014 form Lloyds Bank stating that i may have been miss sold PPI with a loan i had in 2005. I filled in the form and had a phone call from them 2 weeks later asking me some questions. The loan was only for £1000 oi didn't think anything would come of it. Today i get a letter saying I have been offered £274.17 Happy days

ShirePiskie

Am in shock. PPI mis-selling claim made again AA Finance (BoS) at end of April. £10,205.56 as been awarded!!!



All done myself with the form off MSE and took about 3/4 hour to complete to sets of paperwork. THANK YOU MSE!

Not entirely straight forward as my ex, who was co-named on the loans, is, according to them, due half of this although it was only ever me that made payments. So that is going to take some sorting and hoping the ex will be cooperative...

-taff

They will issue two cheques, one to each of you [unless you still bank with them in which case it'll be BACS], so you're relying on your ex banking it, then transferring the money to you.
Don't get your hopes up unless you have a good realtionship with them.

ShirePiskie

-taff wrote: »

They will issue two cheques, one to each of you [unless you still bank with them in which case it'll be BACS], so you're relying on your ex banking it, then transferring the money to you.
Don't get your hopes up unless you have a good relationship with them.

Thanks Taff, I know. Am hoping he'll do the decent thing, but even if he doesn't, as the loan co don't have a current address for him at least if he decides not to help me out, he won't be able to get his half. Petty, I know, but I'm sure it's no skin of AA Finance's nose if they don't have a £5k cheque cashed!

marieg76

What were you reclaiming: Loan
Who was the provider: Lloyds Bank
How much did you get back: £5700
Did you get it back after a letter or did you go to the Financial Ombudsman: A letter, followed by a call to explore my case.

I had been thinking about trying to reclaim mis-sold PPI for a while but finally knuckled down in April of this year. I completed a form off the lloyds site and sent that off to them with a letter (where I had requested the details of any other loans on which I had been sold PPI - they were from quite a while ago. They responded to my letter providing all of the relevant information and stated that someone would call me shortly.

A chap called me a couple of weeks later and walked through each occasion on which I'd been sold PPI. It was quite evident from all of the reading up that I had done (most of it from this site), that I had been mis-sold. I was in my early twenties when I took out the majority of my loans and was strong armed into getting PPI. I was not told that it was optional (it was inferred that I needed to have PPI in order to get the loan), my personal needs were not explored with regards to the relevance of the policy and I was not told that there was a cooling off period.

The guy who called was very easy going and didn't try to interrogate me. He carefully listened to what I had to say and said that he would call me back if he needed more information.

I just checked my bank account this morning (it's a bloody tight month and I wasn't sure if we were going to make it!) and to my utter delight, there was nearly £6000 in my account!

Thank you so much Martin for the advice on your site, it's made a huge difference to my life.

dosiejosie

What were you reclaiming: Loan PPIs on 6 loans that were repaid early!
Who was the provider: Halifax
How much did you get back: £3100
Did you get it back after a letter or did you go to the Financial Ombudsman: A letter and forms completed to Halifax, followed a letter and forms to the Financial Ombudsman.

Keep trying with this, as I did my own PPI claim using the info on this site. Halifax refused my claim that they mis-sold me PPI, so I sent my claim to the Financial Ombudsman, who upheld my claim and I have just received a cheque for just over £3000 :j. It has taken just over 2 years to reach this conclusion, but I am so pleased I stuck at it.

Deej321

Hi, i would just like to thank the wonderful people at MSE for the advice and templates!

In short, I am a slacker, I never looked at my bills until recently where i had a bit of a shock. My Barclaycard balance was at £2400 and I have been paying the minimum payment - I only use it once or twice a year for car hire in Spain, and it turned out that out of my minimum payment of £46, £43 was going toward PPI and interest!! So my debt was coming down by only £3 a month!!!

So i got straight on the case, filled out the form and today I have found out i will be refunded enough to wipe out the balance which is great news, but I now want to know how they arrived at that figure. I dunno, something about banks being dodgy and it all seemed like it was almost too easy (why do people use firms to claw their money back?!)

So do they send a detailed explanation of how they arrived at the figure or do i need to request copies of all statements?

Thanks if you can help!! And thanks MSE again.

-taff

People use firms because they are impressed by the firms bulls*t and believe they have special powers, which they don't.

They work out how much you paid, plus any atendant inerest that applies, and then 8% interest for any time your account would have been in credit.

See the FOS website for a detailed explanantion of how they get there
http://www.financial-ombudsman.org.uk/publications/technical_notes/ppi/redress.html

All firms use the above calculations

Hayles80

Hi, can anyone advise?
I am in the middle of processing a PPI claim, a mortgage account we were clearly mis sold.
At the time of the mortgage both my husband and I had savings (kid free and both had really good jobs), and I had insurance via work.
Nationwide have sent me a letter asking me details such as how much savings, and details of the insurance policy. I have no record or any idea as this was back in 2001, so have no bank statements of even employment details to show any of this?
Can anyone advise what to do?
Thanks very much

-taff

Unless you had enough moey to pay the mortgage you're not likely to be successful because if you were married with children, you needed the insurance.
They want info about your savings ot see if you could have paid the mortgage some other way. Without proof of this, your complaint is not likely to succeed.