PPI Reclaiming successes and failures

amersall

If you make complaints re miss sell of PPI, you will reopen the debt, if you win miss sell then they have the right to take the redress from the balance of the loan/card, if you have no PPI then they will chase you for what you owe and any remaining balance (if any) when they use your redress they will want back, I would let sleeping dogs lie.

[Deleted User]

deKretser wrote: »

A few weeks ago my bank contacted me saying they'd been expecting a complaint from me re:PPI. I didn't think I had any but rang the PPI helpline to discover I'd had PPI on a loan taken out between 1993-1996. So I filled the form in and sent it away two weeks ago, today I got an offer letter. Of £1800, I was amazed given how long ago it was. Not as much as many others but needless to say being able to complain about something that took place in 1993 was great :-)

Hello, well done...I too had a loan for 4k in 1993 for 4 years...were you paying a PPI amount monthly?..and did your compensation only include the premiums you paid plus 8% interest?...thanks in advance

[Deleted User]

Hi...well done..I had a loan for 4k in 1993 to 1998 with monthly PPI premiums..did they only return the premiums plus 8%?

[Deleted User]

celticexplorer_17:52 wrote: »

Hello, well done...I too had a loan for 4k in 1993 for 4 years...were you paying a PPI amount monthly?..and did your compensation only include the premiums you paid plus 8% interest?...thanks in advance

celticexplorer_18:08 wrote: »

did they only return the premiums plus 8%?

Why ask twice?

A refund of premium plus 8% simple interest is full redress, you will not receive any more.

taiwan01

Hello. A question, If I may? I have at last been contacted by Barclays with an offer after the FOS found in my favour. They say the PPI ran from Dec 96 - March 2009. About twelve and a quarter years. They say the premiums they will refund for this period will be £323.00 I make that about £2.20 a month. They also say they don't have any statements 1996-2001 and ask me to provide them if I think they need to recalculate.

I am about to search the attic to see if I can find some old statements. I have found a couple from 2008 and three from 2005. On those statements the PPI was £5.71 £5.73 £5.65 £5.42 £5.39 respectively. Much higher than the £2.20 average Barclays seem to think I am owed.

Or of course my sums are useless. Wouldn't be the first time. I know it was a CC so the balance (thus the PPI) would have changed over time, would it be wise to contact Barclays with the statements I have found or better to look for the much older statements??

I am not accusing Barclays of being unfair btw.

Thanks.

Nasqueron

PPI on CC was based on how much you left on the card at the end of the month and around 70p/£100 of balance - Barclays will have made a guess/estimate based on the records they have from 2001-08, so if you have paid off more of the card or had less balance more recently then that explains the lower total - if they have 7 years of statements then you may have had months with lower balances (or even nothing if you cleared the card where you would pay no PPI that month)

I wouldn't suggest you will get the average of £5 a month based on those statements but I would suggest speaking to them and offering to send them copies (not originals of course) of the statements showing you had a higher balance on average and see what they say, if they have records from 2001-8 then they would presumably know about those 5 months you have statements for.

No-one can predict whether they will up it - maybe if you find your other records you can calculate the total and see.

cuteweenumber

What were you reclaiming: PPI M&S credit card
Who was the provider: M&S
How much did you get back: £just over £13.8k - yes you read right!
Did you get it back after a letter or did you go to the Financial Ombudsman: Wrote a letter asking how to claim
brief reclaim tale: Been putting it off and off and finally sat down and wrote 6 letters some with martin's form. 2 weeks later M&S sent me a form to complete. Put it aside to do and a week later got a call on the Monday pm. Said a hadn't filled the form in yet but the guy said that's fine we can just do it over the phone. 2 days later, the Wednesday, a call from a complaints handler to say they had upheld my complaint. Saturday received the letter of offer which I signed and sent off. Just waiting now...

Still in shock! Waiting for other responses but well on the way to being debt free apart from my mortgage!

cuteweenumber

cuteweenumber wrote: »

What were you reclaiming: PPI M&S credit card
Who was the provider: M&S
How much did you get back: £just over £13.8k - yes you read right!
Did you get it back after a letter or did you go to the Financial Ombudsman: Wrote a letter asking how to claim
brief reclaim tale: Been putting it off and off and finally sat down and wrote 6 letters some with martin's form. 2 weeks later M&S sent me a form to complete. Put it aside to do and a week later got a call on the Monday pm. Said a hadn't filled the form in yet but the guy said that's fine we can just do it over the phone. 2 days later, the Wednesday, a call from a complaints handler to say they had upheld my complaint. Saturday received the letter of offer which I signed and sent off. Just waiting now...

Still in shock! Waiting for other responses but well on the way to being debt free apart from my mortgage!

And £1.9k from A&L today using martins form

Angry_Bear

I put in a claim for PPI refund AGES ago (almost 4 years) and it was immeiately rejected by the CC company, claiming that I I filled in the forms when they were posted to me .... in spite of the fact that the forms were filled in by a sales person at a stand!

I took it to the Ombudsman and after a herculean amount of patience got around £3.5k a couple of months back. So if you're still having a long wait, don't give up .

sassycat1

Successfully reclaimed from Barclaycard £25000 and from Marks and Spencer £35000 for the price of two stamps, very happy