PPI Reclaiming successes and failures

hadjab

I called RBS two years ago having found paperwork for a loan that I took out in 2001, which had PPI. I received a letter 8 weeks later stating that as they had no information for me on their systems, they could not proceed with the claim. I didn't get round to calling them again until today, when they managed to not only find my details, but also inform me that I had two loans and two credit cards all with PPI attached. My complaint is now logged, just a case of waiting to see if anything comes of it, so If you've found yourself in this position, try again.

HAL_9000_2

I thought this was worth me sharing this:

I had previously been successful with claims against Barclaycard and Tesco (Loans). They were straight forward and were settled by the banks in question within in the initial allotted 8 week period, both claims amounted to just over £17,000. I had a smaller claim against Safestyle/Cardif Pinnacle for a loan for double glazing - after a bit of 'tooing and froing' that was settled to my advantage to the tune of £535 (better than a poke in the eye with a stick). This was all done and dusted two years ago, at the same time I put in a claim against my long time credit card company and bank, Yorkshire Bank.

YB rejected the claim and it was not upheld (right on the 8 week limit) and I got what I though was a curt response from them, but helpfully they included a photocopy of my signature on the original agreement documentation, which in my opinion clearly showed that to be sent the credit card at the time of application PPI was not optional and there was no way of opting out I had long since mislaid this paperwork)

So, off to the FOS I go, on Feb. 9. 2013.

At the time the FOS was stating an 8 to 9 month wait for a decision, when this time had expired I made a 'phone call inquiring was there an update on my case - the helpful answer was "we have only just got all the paperwork back from the bank and your case it is a queue waiting to be assessed". OK I thought. 6 or so months later I have heard nothing. I put another call into the FOS and was met with the response "we have have a number of cases involving YB that we need to carry forward together as it's easier for us to do that this way, your case is waiting to be assessed once we have all the information it will assessed".

I had to spend a period of time out of the country and returned early Feb. 2015, I thought it was worth another inquiry to the FOS to see how my case was progressing. The response I got this time was "We have a number of inconsistencies with the paper work supplied by the YB and are holding regular meetings with them to take this forward and resolve this to be equitable to all parties, until such time you case is awaiting to be assessed". OK, I thought a few more more months wait at the least. imagine my surprise when I got home from work on Thursday to see a letter from the FOS, my first thoughts because it was slim, it was just a circular update date. I was taken aback by the letter date Feb. 17. 2015 case upheld YB have 8 weeks to make you an offer of compensation in line with our guidelines. I have no idea how much the offer will I have had the card since 1988 and it has held some high balances at times so it could be 'chunky'.

I would like to say the service from the just over two years my case has been with the FOS, their service has been exemplary in how I was treat.

The moral here is be honest and patient.

Marty...

HAL_9000_2

carh wrote: »

YES! . Try one of those companies (I used Gladstone Brookes) and let them sort it. I am surprised at the comments of FOS, this does not sound right to me. Despite being told by people nline that it is easy to do it yourself, I did not find this and decided to let a company take the stress, it was worth any fees (which I didn;t have to pay anyway)

I couldn't disagree more.

If one follows the the guidelines on this and other similar sites it is a straight forward process to DiY. Yes, it can entail a bit of a wait (that would not be any different with a claims company) the effort in a DiY claim is modest to say the least. I personally did not find it stressful in the least and in addition I have kept every single penny of all my upheld claims.

My advice is do it your self and do not go through a claims company.

Marty...

Rockoctopus

What were you reclaiming: Post Graduate Loan
Who was the provider: HSBC
How much did you get back: £7,300
Did you get it back after a letter or did you go to the Financial Ombudsman: Letter from the bank


HSBC had sent me a letter stating that their records show that I had taken out PPI and that it might have been unsuitable for me because I paid off my loan early. I had almost gone with a PPI reclaims company but a work colleague and keen user of MSE advised me to do it my self. I used Martin's template and highlighted that at the time in 2000, I was a student not in full time work and therefore I shouldn't have been sold the PPI. I sent my letter, form and a copy of their letter the week before Christmas via secure delivery. I also sent in some old documentation for an old loan in 2008. They replied in January to say that they are investigating my case and that the loan that I had enclosed documentation for, did not have PPI ( I had the PPI removed after a few years after getting some advice).

Then I got a letter yesterday dated the beginning of February, stating that they have decided to award me £7,300 which has been paid into my account immediately. :j:T

I really do owe this forum a lot of thanks because otherwise I would have gone with a PPI reclaims company and received only a small portion of what was owed to me! I was pleased at how easy it was to claim my money back because I couldn't really remember much of the details to fill out on the form but having the MSE letter template that I adapted for myself, made it appear that I was more knowledgeable about the law Plus I think sending HSBC a copy of their letter admitting that I might have been missold PPI also helped too. I was worried that my claim would not be upheld because I didn't initially take PPI out on my loan and went back to have it added based on advice given to me instore, but I think the paying off of my loan early and being a student helped my case. Thanks all I joined the forum just to give an update :beer:

fermi

HAL_9000 wrote: »

I couldn't disagree more.

If one follows the the guidelines on this and other similar sites it is a straight forward process to DiY.

Very easy yes.

HAL_9000_2

I have got a couple of quick questions that hopefully some kind sole can shed some light on for me. As outlined above the FOS upheld my compliant against YB Visa.

- I know it is highly unlikely I'll get compensation going all the way back to 1988, but has anyone got an idea how far back compensation will/can be applied?

- Has anyone had success with YB Visa before and what is there protocol for issuing the refund? Do they simply credit ones card, carry out a BACS payment to ones bank bank account (that is what Barclaycard did) or issue a cheque.

Any help gratefully received.

Marty...

Boogi11

20 years ago as a young whipper snapper I got my first credit card with lloyds, and I have kept the same credit card till now.

I never asked for PPI as I felt I would always be able to find a job to,pay off the card so I never thought I had ppi

About three years ago I looked at my statement and noticed I had ppi, now I appreciAte many of you will find it find it hard to believe that for 17 years I never checked a statement closely enough to notice I had ppi. But in all honesty that is what happened, I did notice something was on the statement I just presumed it was a standard fee.

Anyway I put a claim into lloyds who rejected it saying that it was all explained and therefore would not be paid. I left it over six months before allowing a claims company to have a look, they after 6 months also said that due to the age they would not be able to help . A few months later still feeling aggrieved I applied to the Fos to have a look, 14 months later they have sent me a letter saying that my complaint has been upheld and a payment is due, so keep,fighting.

On a side note. What kind of payout can I expect on a credit card, 16 years worth of ppi on an estimated average balance of £400. Are we talking 500 or 2000? Or less

amersall

HAL_9000 wrote: »

I have got a couple of quick questions that hopefully some kind sole can shed some light on for me. As outlined above the FOS upheld my compliant against YB Visa.

- I know it is highly unlikely I'll get compensation going all the way back to 1988, but has anyone got an idea how far back compensation will/can be applied?

- Has anyone had success with YB Visa before and what is there protocol for issuing the refund? Do they simply credit ones card, carry out a BACS payment to ones bank bank account (that is what Barclaycard did) or issue a cheque.

Any help gratefully received.

Marty...

I am not too sure how far back they will go, they may make an offer on the information they have.
Usually they credit the money to the card they then take this back and raise a cheque, do not "use" the credit to the card as when they raise a cheque you will have to repay this.

amersall

Boogi11 wrote: »

20 years ago as a young whipper snapper I got my first credit card with lloyds, and I have kept the same credit card till now.

I never asked for PPI as I felt I would always be able to find a job to,pay off the card so I never thought I had ppi

About three years ago I looked at my statement and noticed I had ppi, now I appreciAte many of you will find it find it hard to believe that for 17 years I never checked a statement closely enough to notice I had ppi. But in all honesty that is what happened, I did notice something was on the statement I just presumed it was a standard fee.

Anyway I put a claim into lloyds who rejected it saying that it was all explained and therefore would not be paid. I left it over six months before allowing a claims company to have a look, they after 6 months also said that due to the age they would not be able to help . A few months later still feeling aggrieved I applied to the Fos to have a look, 14 months later they have sent me a letter saying that my complaint has been upheld and a payment is due, so keep,fighting.

On a side note. What kind of payout can I expect on a credit card, 16 years worth of ppi on an estimated average balance of £400. Are we talking 500 or 2000? Or less

They will make an offer on the information they have, just so you know, if the claims co put a claim in for you, they will want a % of any redress.

bigspectre

I Have received 2 cheques out of the blue from RBS for Underpayments on PPI refunds from 2012/13. 1 for a small amount £50 and another for £1346. I can understand the small amount but 1300 quid out of the blue was nice.