PPI Reclaiming successes and failures

Mersey_2

emjem111 wrote: »

So I have had a success with a PPI claim but I have been paid way more than I was expecting. The thing with PPI claims, in my limited experience of the three I have successfully claimed, is that you don’t receive any calculations or explanation of the sums decided. Of the three I have received: 1) was the amount I expected, 2) I wasn’t expecting at all and have no idea what the PPI was so have no clue whether or not it was the right amount and 3) I have been paid nearly double the amount expected.

Sadly this has been widespread although the banks' rep (a former MP) did tell the Select Committee 5 years ago that banks would provide breakdowns in future - not least because the self-employed need the gross and net tax paid on the 8% pa interest for their self-assessment tax returns - as do others reclaiming the £ from HMRC.

afshanq

I've taken out loans from Barclays and also used Barclays credit card for various years. Never knew I may of been sold PPI so thought i'd check (thanks Martin!)

I used the online PPI check service on the Barclays website and within a week I received £1,000!

Thank you Martin and everyone on this group!

emsjune78

What were you reclaiming: Loan
Who was the provider: Lloyds TSB as was
How much did you get back: £5443
Did you get it back after a letter or did you go to the Financial Ombudsman: Online form, then filled out a questionnaire

I've been lurking on this thread for the past few months and it's been a great source of help so thought it was only fair I shared my story. I've had PPI in the back of my head nagging at me for a while. I do remember the hard sell years ago and not having it explained properly or what felt like much of a choice. I hadn't done anything about it and did toy with the idea of a CMC as I too believed they somehow had magical powers! I'm so glad I didn't lose thousands for the cost of a single stamp. I really have the information on here to thank for that!

I recently found the original credit agreement for a £7000 loan I had in 2002 and that clearly showed front loaded PPI so that kick started me to put a complaint in. I was aware that Lloyds were handling LTSB matters so went onto their website, filled out a form and received a questionnaire in the post to fill out.

My 8 weeks would've been up at the end of this week and I received a text a week ago to say they were nearing the end of their investigations and I'd receive a letter shortly with the outcome. No phone calls at all for further clarification. The letter arrived today and was dated the day the text was sent. As well as the loan I'd complained about, they'd looked at one previous which is refinanced into the new one so the PPI was 'rolled up' I believe is the term so an element of the redress is from that. I recall the loan but don't know the amount, I wasn't sure that had PPI and I no longer have the paperwork.

I'm now just patiently waiting for the money to arrive within 28 days. It's going into my house move fund and I'm absolutely thrilled. Thank you so much for all the knowledge and advice here. To think I may not have bothered at all or lost a big chunk of money to a claims firm for no good reason. I feel like I've had a lucky escape! Thank you!

celestius

I finally got round to claiming for PPI and CPP.

Got one cheque for £23 so thought that was it.
It was for a MBNA credit card and they called it a 'gesture of good will'

Then out of the blue I got £2755 appear in my account for PPI on a loan I took out with HSBC in 2003.

No idea how they figured that sum out, never heard anything from them, but I will take that!

themissingdigit

question answered thanks

[Deleted User]

Only get a claims company involved if you want to pay them a fee for wasting their time.

You wouldn't expect records to remain a quarter of a century later. Time to give up on this one.

dunstonh

themissingdigit wrote: »

hi all i have been having a look through loads of stuff on here & had a crack at it myself after discovering it goes a lot further back than i thought. had a woolwich mortgage (early 90s) so filled in their online form & its comeback saying they have no record so tough s***. i havent got any records of the mortgage left as i paid it up years ago.Thought when i lived there & address would be enough.should i give up or get a company to look into it? i know they are not popular but i am at a brickwall here & getting something is better than nothing?
thanks paul

Most MPPi complaints fail. Even when you actually have MPPI. You dont even know if you had it. Let alone if you were missold. Plus, your lenders operated in both the branch and broker distribution methods. If its broker/adviser then give it now as its pre-regulation.

themissingdigit

Deleted_User wrote: »

Only get a claims company involved if you want to pay them a fee for wasting their time.

You wouldn't expect records to remain a quarter of a century later. Time to give up on this one.

ok, thanks for the response. that was my gut feeling, just happened to see something mentioning mortgages from 1988 onwards today, so thought id ask somewhere sensible, rather than jump head first into something i may regret.

cheers. ill delete last post now i have the answer. been bombarded by pms

[Deleted User]

themissingdigit wrote: »

cheers. ill delete last post now i have the answer. been bombarded by pms

By claims companies?

dunstonh

themissingdigit wrote: »

ok, thanks for the response. that was my gut feeling, just happened to see something mentioning mortgages from 1988 onwards today, so thought id ask somewhere sensible, rather than jump head first into something i may regret.

cheers. ill delete last post now i have the answer. been bombarded by pms

If the PMs are solicitation then report them to the board. They will ban those users as its strictly against board rules.