PPI Reclaiming successes and failures

Cashe

Hello,

I used Martin's letters to reclaim PPI from a £15,000 (over 60 months) EGG loan which I took out in 2003. I sent my first letter to EGG 13/02/09 requesting a copy of my loan agreement. The second letter was sent on 9/3/09 requesting repayment of all PPI. On the 20/04/09 EGG have refunded all my PPI payments totalling £1,497.90

I was self employed when I took th eloan out and did not know about the PPI cover. I have a default on my lown which I will now take action to get removed.

Thank you MoneySavingExpert for all the help and advice. IT WORKED!

di3004

Cashe wrote: »

Hello,

I used Martin's letters to reclaim PPI from a £15,000 (over 60 months) EGG loan which I took out in 2003. I sent my first letter to EGG 13/02/09 requesting a copy of my loan agreement. The second letter was sent on 9/3/09 requesting repayment of all PPI. On the 20/04/09 EGG have refunded all my PPI payments totalling £1,497.90

I was self employed when I took th eloan out and did not know about the PPI cover. I have a default on my lown which I will now take action to get removed.

Thank you MoneySavingExpert for all the help and advice. IT WORKED!

Congratulations and Well done, this is wonderful news.:beer::T:beer:XX

amersall

Cashe wrote: »

Hello,

I used Martin's letters to reclaim PPI from a £15,000 (over 60 months) EGG loan which I took out in 2003. I sent my first letter to EGG 13/02/09 requesting a copy of my loan agreement. The second letter was sent on 9/3/09 requesting repayment of all PPI. On the 20/04/09 EGG have refunded all my PPI payments totalling £1,497.90

I was self employed when I took th eloan out and did not know about the PPI cover. I have a default on my lown which I will now take action to get removed.

Thank you MoneySavingExpert for all the help and advice. IT WORKED!

:jexcellent:money:

amersall

Heartmate wrote: »

I took a loan of £ 20,500 for building a conservatory by Anglian Home improvements. With the loan I was offered Payment protection plan for £2,876.30 which was added to the loan amount. The loan & the PPI were provided by Clydesdale Financial services (Owned by Barclays) The loan was fully re-paid in December 2008 preterm before the expiry of term of insurance. The T&C of PPI mentioned that if I settle my loan before the insured term then I will be entitled for a partial refund of the premium but the refund will not be proportional and will be substantially less than the amount originally paid. When I did not hear anything about the refund after repaying the loan amount I contacted Clydesdale. During the telephonic conversation I was blatantly told that I am not eligible for the receipt of any refund on the insurance premium. During that conversation I requested Clydesdale to clarify their position in writing. When I did not receive any reply in 2 weeks I wrote to them asking for the refund. They replied to my letter by leaving a message on my voice mail to contact them telephonically. When I rang I was again told that i would not get any refund. This was followed by another letter by me threatening a complaint to Financial Ombudusman. This time I got a written reply from theier senior representative who wanted to discuss the matters with me. I refused and told him to put his say in writing. Within a week of this conversation I RECEIVED A CHEQUE OF £2205.25 and an APOLOGY that I was not advised correctly by their Customer Service department.

Lessons from above-
1) Always read the Small Print and know the facts
2) For any queries always read the MSE forum (Clydesdale tried to misguide me and were reluctant to admit the facts in writing, reading this forum gave me the knowledge)
3) Persistence helped me to reclaim the money.

Now should I go for full refund with the interest? Thanks again to MSE

:jwell done:money::money:

ReallyWrong

I am one happy person :j . 14 months of wait finally over with the fos finding our (single premium ) policy was mis sold . (inappropriate for our circumstances ) .

All premium paid in july 06 to be returned (circa £8000 + interest .)

We should never have been sold the policy as we made it clear that the loan would not run its full term due to us moving house. Had nemo made it crystal clear iro all the nuts and bolts of this single premium we would never have taken it .

Slippery Nemo has been truly battered .

Borrowed £30,000 over 25 years in July 06
Paid it off in July 07 £38,200 with no ppi premium returned at all .

Happy Days !

di3004

ReallyWrong wrote: »

I am one happy person :j . 14 months of wait finally over with the fos finding our (single premium ) policy was mis sold . (inappropriate for our circumstances ) .

All premium paid in july 06 to be returned (circa £8000 + interest .)

We should never have been sold the policy as we made it clear that the loan would not run its full term due to us moving house. Had nemo made it crystal clear iro all the nuts and bolts of this single premium we would never have taken it .

Slippery Nemo has been truly battered .

Borrowed £30,000 over 25 years in July 06
Paid it off in July 07 £38,200 with no ppi premium returned at all .

Happy Days !

Congratulations :beer::T:beer:.

lol, mine was 14 months as well with the same company.....:D

You done great here "WOW", Well done !:j:beer::TXX

amersall

reallywrong wrote: »

i am one happy person :j . 14 months of wait finally over with the fos finding our (single premium ) policy was mis sold . (inappropriate for our circumstances ) .

All premium paid in july 06 to be returned (circa £8000 + interest .)

we should never have been sold the policy as we made it clear that the loan would not run its full term due to us moving house. Had nemo made it crystal clear iro all the nuts and bolts of this single premium we would never have taken it .

Slippery nemo has been truly battered .

Borrowed £30,000 over 25 years in july 06
paid it off in july 07 £38,200 with no ppi premium returned at all .

Happy days !

:j:jgreat news well done:money:

hamish222

Just wanted to say well done to all this weeks success stories.

runydoo

Thank you to everyone on the Martin Lewis site. I have today received an offer of 3,774.59 which I am going to accept!
:j:T:j:T:j:T:j:T:j:T:j:T:j:T:j:T:j:T:j:T

Lusty

di3004 wrote: »

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.;)

Hello again.I just thought that I would show everyone the final letter that I have penned to Lloyds before I involve the FOC.Constructive comments welcome.


Dear Mr Barstard

Thank you for replying personally to my letter.
Anyway lets look at some of the points you have raised.
You said that there is a 30 day cooling off period during which I could have cancelled the policy outright.
Yes this maybe the case but at the time I firmly believed that I had no choice and had to take out the PPI.At no time was I ever informed by the Lloyds representative that this insurance was voluntary and and I was under no obligation to take it.In fact I was told in not so many words that the credit wouldn’t be available if I didn’t take it.Since then I am now aware of my rights.
You said that “When you agreed to the loan,the cost of the 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,you will receive a partial rebate on the additional amount attributable to the loan insurance”.
You’re the ones who wish to refinance the loan,not me as I was cajoled into taking out the PPI in the first instance(see earlier correspondence).
I feel that in this instance we have agreed to disagree and I’m going to ask the FOC to arbitrate.
Yours Sincerely
Lusty