PPI Reclaiming successes and failures

amersall

davad_technology wrote: »

I took out an Egg Loan in 2002 for £22058, and had a PPI added for an additional £8148.89, total amount £30206.89. I had read about the fact that I could possibly reclain this from the lender, EGG, through this website, and duly downloaded the template letters and sent them to EGG in January 2009, on the basis that they had not provided full information regarding this insurance at the beginning - they failed to inform me that it only ran for 5 years of the 7 years the loan was taken out for, they failed to tell me that, as I was self employed, the PPI was useless and that I could not, in any event, make any claim.

I wrote to EGG, demanding a full refund of the cost of the Insurance, plus Interest.
Since January, I had 2 more letters from EGG, just confirming they were still investigating my complaint, the last one in March, enclosing a leaflet to complain to the Ombudsman as they had not completed their investigation in sufficient timescales (8 weeks) but they hoped I would allow them to continue their investigation into my complaint.

I lodged the complaint with the Ombudsman anyway, and had confirmation from the Ombudsman that they were in receipt of the complaint details from myself.

fast dorward to today - a nice fat cheque for £7751.18 AND the loan is now fully repaid, as the total amount they had to refund was £12070.68, which paid the loan off, and left me with over £7000. ONE happy bunny! Yay! So, my advice to others, go ahead and make that complaint, it IS worth the relatively small effort!

:j:jnice tidy sum well done:money:

amersall

Telstar17 wrote: »

Guys,

I had an Egg Loan with PPI that was sold to me almost 4 years ago. Saw Mr Lewis on GMTV and thought I should pursue the PPI Claim. Downloaded the claim templates and sent those off to Egg and "Hey Presto" month and a half later i get a letter saying that my loan is now settled!!!!

I'm over the moon as I got over £5.5K settling my loan PPI claim, plus a cheque for £100.00...Mr Lewis is a boy wonder!!!!:money::money::T:T:money::money:

:j:jexcellent well done:j:money:

sugarhouse

Telstar17 wrote: »

Guys,

I had an Egg Loan with PPI that was sold to me almost 4 years ago. Saw Mr Lewis on GMTV and thought I should pursue the PPI Claim. Downloaded the claim templates and sent those off to Egg and "Hey Presto" month and a half later i get a letter saying that my loan is now settled!!!!

I'm over the moon as I got over £5.5K settling my loan PPI claim, plus a cheque for £100.00...Mr Lewis is a boy wonder!!!!:money::money::T:T:money::money:

Well Done. Was your loan over the telephone? I have written to the FOS as Egg have refused to accept my missold claim for PPI on line. The evidence they sent to say it was not mandatory is weak and I claim that you have to opt out if you don't want PPI. It looks like EGG are paying out a lot of missold policies probably because they were recently fined.

sugarhouse

davad_technology wrote: »

I took out an Egg Loan in 2002 for £22058, and had a PPI added for an additional £8148.89, total amount £30206.89. I had read about the fact that I could possibly reclain this from the lender, EGG, through this website, and duly downloaded the template letters and sent them to EGG in January 2009, on the basis that they had not provided full information regarding this insurance at the beginning - they failed to inform me that it only ran for 5 years of the 7 years the loan was taken out for, they failed to tell me that, as I was self employed, the PPI was useless and that I could not, in any event, make any claim.

I wrote to EGG, demanding a full refund of the cost of the Insurance, plus Interest.
Since January, I had 2 more letters from EGG, just confirming they were still investigating my complaint, the last one in March, enclosing a leaflet to complain to the Ombudsman as they had not completed their investigation in sufficient timescales (8 weeks) but they hoped I would allow them to continue their investigation into my complaint.

I lodged the complaint with the Ombudsman anyway, and had confirmation from the Ombudsman that they were in receipt of the complaint details from myself.

fast dorward to today - a nice fat cheque for £7751.18 AND the loan is now fully repaid, as the total amount they had to refund was £12070.68, which paid the loan off, and left me with over £7000. ONE happy bunny! Yay! So, my advice to others, go ahead and make that complaint, it IS worth the relatively small effort!

Well done on your success. I have a strong case which is now with the FOS against loans.co.uk who have been fined, sold me a single premium policy added to the loan and interest and who have given me their final decision not to refund based on the statement that I had 30 days to consider and cancel the PPI. I filed my case with FOS in February 2009 and have had a standard email from them to say;

"I can assure you that your complaint is progressing here at the Financial Ombudsman Service and we have obtained the file of papers from loans UK in order to complete your case file.

I apologise for the delay in assessing your complaint; however, we will keep you informed of progress. Once your complaint is passed to an adjudicator, they will contact you directly."


Did you get contacted directly and how long from when you filed with FOS did it take to get a decision?:T

di3004

sugarhouse wrote: »

Well done on your success. I have a strong case which is now with the FOS against loans.co.uk who have been fined, sold me a single premium policy added to the loan and interest and who have given me their final decision not to refund based on the statement that I had 30 days to consider and cancel the PPI. I filed my case with FOS in February 2009 and have had a standard email from them to say;

"I can assure you that your complaint is progressing here at the Financial Ombudsman Service and we have obtained the file of papers from loans UK in order to complete your case file.

I apologise for the delay in assessing your complaint; however, we will keep you informed of progress. Once your complaint is passed to an adjudicator, they will contact you directly."


Did you get contacted directly and how long from when you filed with FOS did it take to get a decision?:T

Hi Sugarhouse

Would like to wish you luck with yours, I'm sure it will be a good outcome here.:beer:

petermb_2

sugarhouse wrote: »

Well done on your success. I have a strong case which is now with the FOS against loans.co.uk who have been fined, sold me a single premium policy added to the loan and interest and who have given me their final decision not to refund based on the statement that I had 30 days to consider and cancel the PPI. I filed my case with FOS in February 2009 and have had a standard email from them to say;

"I can assure you that your complaint is progressing here at the Financial Ombudsman Service and we have obtained the file of papers from loans UK in order to complete your case file.

I apologise for the delay in assessing your complaint; however, we will keep you informed of progress. Once your complaint is passed to an adjudicator, they will contact you directly."


Did you get contacted directly and how long from when you filed with FOS did it take to get a decision?:T

My only issue is that there will be amounts of money that you cannot claim by going through FOS to get your PPI back.
For instance Loans.co .uk will have received commission from the lender for selling the loan in the first place. You are due that back. The commission willh ave been enhances because of the PPi sale. Then on top of that you will be due all of the PPi Premium plus interest at the rate the lender charged. ~then on top of that you will be entitled to 8% statutory.

You will simply not get all this by going through the FOS.

cjgviking

Hi Martin, Using your sample letters I have claimed back over £4000 from Halifax card services in two months for a missold PPI. Many thanks for your help and advice. Now off to try my luck with Sainsburys Bank.
CJG VIKING.

di3004

cjgviking wrote: »

Hi Martin, Using your sample letters I have claimed back over £4000 from Halifax card services in two months for a missold PPI. Many thanks for your help and advice. Now off to try my luck with Sainsburys Bank.
CJG VIKING.

Fantastic, Congratulations !
:beer::T:beer:

amersall

cjgviking wrote: »

Hi Martin, Using your sample letters I have claimed back over £4000 from Halifax card services in two months for a missold PPI. Many thanks for your help and advice. Now off to try my luck with Sainsburys Bank.
CJG VIKING.

:jwell done:j:j:j:money:

Beatlefan

petermb wrote: »

My only issue is that there will be amounts of money that you cannot claim by going through FOS to get your PPI back.
For instance Loans.co .uk will have received commission from the lender for selling the loan in the first place. You are due that back. The commission willh ave been enhances because of the PPi sale. Then on top of that you will be due all of the PPi Premium plus interest at the rate the lender charged. ~then on top of that you will be entitled to 8% statutory.

You will simply not get all this by going through the FOS.

Thanks Peter. Does this mean we need to add a line about commission into stage 1 or stage 2 letters?