PPI Reclaiming successes and failures

boyciewba

I have just heard I have failed in my bid with Lloyds regards mis selling of Packaged Bank accounts.
I advised the person selling it me in a queue whilst was paying a bill at my branch that I hadn't time as I was on way to work, she said it had many benefits including mobile cover , I answered I already had it , she advised free aa breakdown cover , again I advised I had free cover as I worked for the AA, she then pointed out that it had numerous other things that would be great for me, How she knew that I never knew.


When I asked her for a leaflet to read as I had no time , she said sign the form and she would fetch one , she came back and said there were none left , and she would post one out, im still waiting.


The reasons they gave were that I had registered 7 phones with them , over 12 years I may add if not longer , never claimed though.


Had called AA out 7 times , although I was not aware I was using Lloyds membership as I don't even know my Lloyds membership number so must have been something AA did when I called in.


After all , why would I use it when I have Free AA membership.


The funny thing is I was trying to re do my Credit Card and a manager from Lloyds that called to tell me they couldn't do it , asked why I wasn't in their free account because I have my salary payed in and you get free benefits with that, then I could use the 25 pound a month I saved to help pay the card off more quickly. I then mentioned re claiming and what went on above and she mentioned trying to reclaim , strange but true.


At the end of the day , the over riding thing is I was sold an insurance that was unsuitable for the above reasons, I wasn't advised of a cooling off period, if there is one, also I wasn't provided a proper talk through or even received a leaflet as promised.


I feel really hard done by considering I have had a mortgage for 23 years with them . I hate LLoyds not because of the refusing a refund , its the fact that they wont admit the dis honestly sold this to me . But worse than all this , the adviser I spoke to never even listened to what I was saying

dunstonh

The reasons they gave were that I had registered 7 phones with them , over 12 years I may add if not longer , never claimed though.

The fact you havent claimed is irrelevant. If it was relevant then people who dont die in the term could claim back life assurance. Those that dont claim pay for those that do. That is how insurance works. The fact you registered phones indicates you knew about the cover and you used it.

Had called AA out 7 times , although I was not aware I was using Lloyds membership as I don't even know my Lloyds membership number so must have been something AA did when I called in.

When you do use features, it basically blows your complaint out of the water. You cannot argue you didnt need it or use it.

At the end of the day , the over riding thing is I was sold an insurance that was unsuitable for the above reasons, I wasn't advised of a cooling off period, if there is one, also I wasn't provided a proper talk through or even received a leaflet as promised.

Packaged accounts are not insurance. Some bits of the package maybe but not the actual package. You cant prove you werent given a proper talk through or didnt receive a leaflet or werent told about cancellation periods. However, they can prove you actively used the products and services.

I hate LLoyds not because of the refusing a refund , its the fact that they wont admit the dis honestly sold this to me .

An alternative view is that you used the services and are trying it on. I'm not saying you are but when individuals only have the facts to go on, the evidence does point to you knowing and using the services.

boyciewba

You have a lot to say , your comments about if you used insurance you cant claim are bull, the fact it was mis sold as I clearly didn't need it at the time stands true with any product, one would be tempted you work for Lloyds.


The above point about using the insurance is bull because I claimed off Lloyds in the past for redundancy/sickness insurance and I had claimed on those twice, they merely took off the amount , so your reply to that one would be interesting.

Nasqueron

boyciewba wrote: »

You have a lot to say , your comments about if you used insurance you cant claim are bull, the fact it was mis sold as I clearly didn't need it at the time stands true with any product, one would be tempted you work for Lloyds.


The above point about using the insurance is bull because I claimed off Lloyds in the past for redundancy/sickness insurance and I had claimed on those twice, they merely took off the amount , so your reply to that one would be interesting.

Someone disagrees with you therefore they are a company shill - nice.

Dunstonh pointed out that just because you have insurance and don't use it doesn't mean it was miss-sold - I have not claimed on my car insurance, I don't get a refund of the premiums.

You registered your phones showing you knew about the cover and were pro-active in making sure your phones were covered. You used the breakdown service.

The company has provided evidence showing the features were a benefit to you thus it was not miss-sold, sorry you can't see it that way

HAL_9000_2

boyciewba wrote: »

You have a lot to say , your comments about if you used insurance you cant claim are bull, the fact it was mis sold as I clearly didn't need it at the time stands true with any product, one would be tempted you work for Lloyds.


The above point about using the insurance is bull because I claimed off Lloyds in the past for redundancy/sickness insurance and I had claimed on those twice, they merely took off the amount , so your reply to that one would be interesting.

...and in English.

Marty..

dunstonh

your comments about if you used insurance you cant claim are bull

No they are not. It shows you knew about the cover and utilised the benefits.

the fact it was mis sold as I clearly didn't need it at the time stands true with any product

Yes, it can still be mis-sold despite that. However, the value of the claim would be deducted from the redress and if the claim value is higher, then you dont get a penny. However, that is jumping a stage ahead. The use of the features shows your complaint reasons to be wrong.

one would be tempted you work for Lloyds.

One would be tempted to think you have the IQ of a 10 year old.

PK2001

First of all, a big "Thank You" to Martin Lewis and his team.
I knew that I'd had an MBNA credit card that I paid PPI on for many years, but had no reason to believe that this had been mis-sold so didn't think I was due any compensation.
Having read the MSE info on PPI I realised that an accident I had 25 years ago could be grounds for PPI mis-selling as any time lost from work as a result of these old injuries would probably not have been covered by the payment protection insurance.

I downloaded the claim form from the MBNA website and phoned them to get the details that I couldn't remember, then sent-off the completed form.

I've just received a letter to say that my complaint has been upheld that that they'll be sending me a cheque for £19,200 within the next 28 days!

This is made-up as follows:

PPI Premiums paid £8,220
Associated Interest £5,608
8% Gross Interest £6,723
Less Withholding Tax -£1,344

The "associated interest" figure is the additional interest that I paid on my card balance as a result of having the PPI premiums added.

The whole process took around 6 weeks and MBNA sent me a confirmation letter and a holding letter along the way.


Once again, many thanks to the MSE team.

maggy50

PK2001 wrote: »

First of all, a big "Thank You" to Martin Lewis and his team.
I knew that I'd had an MBNA credit card that I paid PPI on for many years, but had no reason to believe that this had been mis-sold so didn't think I was due any compensation.
Having read the MSE info on PPI I realised that an accident I had 25 years ago could be grounds for PPI mis-selling as any time lost from work as a result of these old injuries would probably not have been covered by the payment protection insurance.

I downloaded the claim form from the MBNA website and phoned them to get the details that I couldn't remember, then sent-off the completed form.

I've just received a letter to say that my complaint has been upheld that that they'll be sending me a cheque for £19,200 within the next 28 days!

This is made-up as follows:

PPI Premiums paid £8,220
Associated Interest £5,608
8% Gross Interest £6,723
Less Withholding Tax -£1,344

The "associated interest" figure is the additional interest that I paid on my card balance as a result of having the PPI premiums added.

The whole process took around 6 weeks and MBNA sent me a confirmation letter and a holding letter along the way.


Once again, many thanks to the MSE team.

If you are on a low income or non taxpayer you can ask HMRC for the withholding tax back .

maggy50

PK2001 wrote: »

First of all, a big "Thank You" to Martin Lewis and his team.
I knew that I'd had an MBNA credit card that I paid PPI on for many years, but had no reason to believe that this had been mis-sold so didn't think I was due any compensation.
Having read the MSE info on PPI I realised that an accident I had 25 years ago could be grounds for PPI mis-selling as any time lost from work as a result of these old injuries would probably not have been covered by the payment protection insurance.

I downloaded the claim form from the MBNA website and phoned them to get the details that I couldn't remember, then sent-off the completed form.

I've just received a letter to say that my complaint has been upheld that that they'll be sending me a cheque for £19,200 within the next 28 days!

This is made-up as follows:

PPI Premiums paid £8,220
Associated Interest £5,608
8% Gross Interest £6,723
Less Withholding Tax -£1,344

The "associated interest" figure is the additional interest that I paid on my card balance as a result of having the PPI premiums added.

The whole process took around 6 weeks and MBNA sent me a confirmation letter and a holding letter along the way.


Once again, many thanks to the MSE team.

If you are on a low income or non taxpayer you can ask HMRC for the withholding tax back .
WELL DONE :T

Beckym82

I reclaimed PPI from 2 banks successfully thanks to Money Saving Expert.

I had 3 loans a few years ago, 2 from Barclays and 1 from Lloyds.
I received £800 from LLoyds from a small loan and £5000 from the 2 Barclays loans which were about £15000 originally.

I used the templates provided by MSE and sent them to Lloyds first. They got back to me a couple of weeks later to confirm they would be paying the money into my bank account straight away.
I then used the templates to contact Barclays Bank, but I didn't have much information about the loan as it had been paid off years earlier. I just gave them what information I had and within 2 months £5k appeared in our bank, a letter arrived a few days later to confirm they had repaid us.

I wasn't expecting much from the banks, so this was a nice surprise while I was expecting my 2nd child

Thanks MSE