PPI Reclaiming successes and failures

AFM

Woohoo thank you Martin Lewis and Resolver!

Just had TWO PPI repayments in a week - totalling £6.5k

One from Santander and one from Barclays.

These were for an Egg card and a Cahoot ‘flexible loan’ that I took out 20 and 17 years ago respectively.

I made a half hearted attempt to reclaim a few years ago and was told that they ‘could not find my records’ because they were under no obligation to keep them after 6 years.

Now I find the size and weight of the PPI misselling scandal has made the banks up their games. To anyone who has been put off trying because they didn’t have any paperwork or account numbers or clear memories or just TIME here is my story:

1) I read the MSE guide, and took note of the Plevin rule in particular.

2) I opened two cases on Resolver. Each involved a single form. I could only remember the provider, (egg, cahoot) but Resolver knew who to send my complaints to! I did not need account numbers - I had all my old addresses going right back to when I had the products. Resolver sent the complaints off for me - I didn’t even need a stamp or envelope.

3) Within a week I had acknowledgment letters from both Santander and Barclaycard.

4) Within two months I had two big fat checks (£3.5k and (3k) and letters of apologies from both.

The effort to outcome ratio here is off the chart, but more importantly wrongs were put right. I was badly taken advantage of when I was young, foolish and in a lot of debt. I can happily report that I am debt free except for my mortgage now and would not fall for buying such a product as PPI again, but back then I was made to feel fear - real actual fear - which lead me to take out these products which added to my debt.

Can’t tell you how happy I am and how much I would encourage anyone to give it a go. You are not small or you insignificant- get up and stick it to the man!

Not_so_young

So, when I was young, naive, inexperienced, like an idiot I took out many store cards, credit cards and eventually consolidation loans, took the sensible option, cut them up and it took me years to clear them all. On the advice of my son (who is now in his 30´s) I used the forms on here to draft my letters to enquire about PPI, not holding much hope as I could not remember details, only that I´d signed up for the majority of these cards in store, I have been pleasantly surprised at the success even on the few I had rejected as the companies then replied quoting the Plevin case and issuing repayments for high commission. So here goes:
Virgin card 3552
Virgin loan 5876
M&S card 300
New Look card 120
Egg card 1568
Egg loan 3,456
Capital 1 1575
Citi card 1243
Mint card 878
RBS 876
Morgan Stanley 1348
Barclaycard 346
Halifax 1568
BHS ongoing/Debenhams ongoing- only as I found the old cards for these two at the bottom of an old chest of drawers, so only recently asked about them to be told by Santander, yes there was PPI and they´ll investigate.
So as I´m now retired, this has been a great help, So my advice is follow the advice on here, do it yourself, it´s the cost of a couple of stamps, and believe me, it is worth it.

dbrookf

Put in a claim for missold PPI on behalf of my husband who had a M&S credit card from 1986 to 2010. He received a letter today saying they find in favour of him and will pay £60.61 in full and final settlement!

This breaks down to Quote “£18.54 for a full refund of premiums including any undisclosed commission dating back to 6 March 1986. I do not have records from 6 March 1986 to 5 May 2000. I have calculated the refund on the average balance for this period.” Unquote. (The rest is interest).

My husband is unsure of premiums paid however we are puzzled as to how this paltry figure has been calculated! Anyone help out with this please?

BooJewels

@ dbrookf: Credit card PPI is usually paid as a price in pennies per £100 of balance. If you don't have any outstanding balance, there won't be any PPI premium charged. It's charged individually each month for the balance at that time - so varies with your balance.

So it looks like they have averaged your balance for the period covered (seemingly in the absence of more detailed records) and ascertained how much you are likely to have paid.

Unless you had a whopping outstanding balance, the PPI premiums are generally much, much smaller on credit cards than loans, mortgages etc. It might only be a couple of pounds per month. You'd need to show them copies of statements for the period in question if you want to dispute the amount. The PPI premium always shows as a separate charge on the statement, so if you have them, you'll easily be able to see how much you paid. On M&S statements, it shows as the last item in the list of transactions on the front of the statement.

woody252506

Natwest mortgage PPI success here

We took out our first mortgage in 2009 as first time buyers. We discussed a monthly PPI protection plan with the mortgage advisor and were told that given the major economic downturn and the reluctance by the banks to lend at the time that having PPI would be advantageous to our application.

We used the resolver tool in early February to submit our joint claim and have since had letters from Natwest saying they are upholding our claim. We have returned our signed acceptance forms so we will be getting £3700 in total back over the next few weeks hopefully, not sure how quick Natwest are to get back to you with payment?

alistair_montgomery

Trying to help an aged parent with a PPI claim on a credit card with MBNA. They were very quick to admit he had a PPI policy in place on a card he started while retired. MBNA say they wrote a generic letter 4 years ago that we have no record of ever receiving but the gist is because we did not take the matter further the claim has timed out so no refund on the original PPI but have agreed to pay out £1200 under plevin. I am struggling how a generic letter sent saying you may have had PPI started the clock ticking. We have made no claim until a few weeks ago. It all sounds like another ploy to get round the rules.

Nasqueron

alistair_montgomery wrote: »

Trying to help an aged parent with a PPI claim on a credit card with MBNA. They were very quick to admit he had a PPI policy in place on a card he started while retired. MBNA say they wrote a generic letter 4 years ago that we have no record of ever receiving but the gist is because we did not take the matter further the claim has timed out so no refund on the original PPI but have agreed to pay out £1200 under plevin. I am struggling how a generic letter sent saying you may have had PPI started the clock ticking. We have made no claim until a few weeks ago. It all sounds like another ploy to get round the rules.

Unfortunately this isn't a "ploy", it's the financial service rules, the same principle that means a customer can refuse to pay a debt and 6 years after it's wiped off their record.

A complaint can be time barred once it's 6 years from taking out the policy and 3 years from knowing you had a reason to complain (whichever is longer). If the bank sends a contact letter inviting you to complain about PPI that triggers the 3 year rule.

They are allowed to send to the last known record on file. If the person updated the bank that they had moved and the bank sent it to the old address, there would be some leeway to complain about the time bar but if they can prove it was sent, the time bar is valid. Unfortunately you would have to prove it was not received, the regulator deems first class post delivered 2 days after it was sent as you'd otherwise have a permanent get out to claim you didn't get the letter.

A Plevin refund is better than nothing as your PPI complaint is over

topbargainhunter

I put in a claim for my husband's PPI on Yorkshire Bank Loans back in the 1980's. We had no documentation whatsoever but I used their online form and gave them his name, address at the time of the loans, date of birth, and year that I believed he had taken out 2 loans, which was 1987.

They wrote back last week (very quickly) stating he'd had 5 different loans with them, and as they were paying him 15% interest on the PPI over 31 years, he was due £8550.

The cheque came today. :T

Highlandchancer

I have a number of ongoing cases and thought I would share my experience here.
Provider: Egg PLC
Product: Card & Loan
When Active: 1998-2002
Started Claim: February 2018
Status: Settled and Paid
Received: £452.71 compensation against Egg Loan
£525.84 compensation against Egg Credit Card
Both paid within 4 weeks of starting a claim

Provider: GE Money
Product: 2 Store Cards (Debenhams and Burtons)
When Active: 1995-2002
Decision: Refused by Santander
Started Claim: February 2018
Status: Now with Ombudsman who has agreed to take on the case

Provider: Capital Bank PLC
Product: Loan
When active: 2000-2004
Started Claim: February 2018
Status: Complaint upheld by Bank of Scotland
Received: £2041.33
Paid within 6 weeks of starting claim

Provider: Bank of Scotland
Product: Loan
Started Claim: April 2018
Status: Ongoing

Provider: RBS
Product: Card & Loan
When Active: 1993-2002
Started Claim: February 2018
Status: This is an ongoing one, RBS seem to very good at updating you by text, but actual mail takes a long time to arrive! I received text ntification on March 20th that they had reached a decision on 4 PPI claims, and would be writing to inform me of the outcome within 10 working days. I had no letters by April 16th, so decided to call them to chase. They said they would reissue their decision which would take 3 weeks to arrive. :mad: However, on April 21st I received the original letters (all dated 20th March) making an offer totalling just over £14k! I popped the letters of acceptance back to them. Today I rang to double check that they had received them, and was informed that they had only received one back and would have to wait for the others before actioning payment. I informed them that I had returned them all together to save them the postage costs, I was put on hold again, and was told to ring again next week as 'someone may have mislaid the three other claims'. Anyway, I guess I just need to be patient and wait 28 'RBS Working Days' (My guess is 8 weeks) for final resolution.

Resolver is a fantastic tool folks, and above all it is free to use. Quite why people feel the need to forfeit monies to claims management companies is beyond me. Brew yourself a cuppa, sit down in front of your PC and do all the detective worj yourself. It is very rewarding!

Nasqueron

Highlandchancer wrote: »

Resolver is a fantastic tool folks, and above all it is free to use. Quite why people feel the need to forfeit monies to claims management companies is beyond me. Brew yourself a cuppa, sit down in front of your PC and do all the detective worj yourself. It is very rewarding!

You can of course complain directly to the firm and avoid giving a third party your data for them to sell on (anonymously) to firms