PPI Reclaiming successes and failures

[Deleted User]

dexterlivi wrote: »

I nearly did,nt bother and by doing so I,m 20K better off in this mornings post.

So you have to pay 12% of that large amount (plus VAT) to a Claims Company? :eek:

Thousands of £s lost for putting a stamp on the envelope contains your complaint!

Six years ago I received £20k and paid nothing to anyone.

n1david

Hi all.

I had PPI on my BA Amex card - I took it out to get bonus BA Miles (they offered several thousand for having it for 6 months) and never got around to cancelling it, so had put off submitting a PPI Claim because it was "my fault" that I never cancelled (although I had tried a few times and found it impossible to get to the right department at Amex).

Used the Resolver template and sent them a letter stating the facts of my claim (I had separate life insurance and company sickness cover etc, so didn't need the coverage).

It took about 6 weeks for them to review but got a letter back this morning - they recorded that I had taken out the PPI in early 2010, but they no longer had any records of the application process. Therefore they could not respond to my specific complaint, but "in the interests of good customer service", they were willing to refund all charges over the eight years, plus interest charged on those charges (for the few months I didn't pay off the full balance), plus 8% compound interest.

So, for the effort of writing one letter, which took me about an hour, I got back just over £5700. Now that's a decent hourly rate!

Many thanks to MSE and the people on here for the encouragement. My lesson is, even if you are not sure you have been missold, it is worth a try - I thought there was something suspect about being told to take it out and then cancel after six months - and ultimately Amex obviously decided it was not worth the fight.

SteveBM

Success
Egg Credit Card - sent a PPI enquiry (not a complaint) off through their website, received a letter 3 days later stating my complaint had been upheld and a cheque for £197 is on its way! Very pleased with that!

Just waiting on a couple of others but feel like my effort has been rewarded so everything else is just a bonus from this point onwards!

ravenous59sound

Hi All
Earlier this year I thought it about time I got around to checking if I had ppi so I tried to recall all the accounts me and my wife had over the last 20 years, I filled in all the various online forms for the banks I could remember and sent them without much thought of getting anything back. All of the replies I received for myself were unsuccessful but my wife got a form to fill out regarding a £5000 loan taken out in 2001, this was completed and within a couple of weeks we were refunded just over £2100 Fantastic! seemed a large amount of refund for a relatively small loan but if you take interest etc into account.....anyway we were not going to argue. But this made me think more about a Business loan I took out with HSBC at the same time of £26000 I had already been knocked back by the bank but thought why not try again and using your resolver tool sent another request to HSBC I dont have the original loan paperwork but I know they took a charge over my then house to secure the loan (paperwork I do have) and also a 10k guarantee from my dad so my complaint was if I had PPI on this loan it was unnecessary as they had the two other forms of security in place, anyway I sent this on the 6th November and got a reply 2 weeks later saying they would be investigating the complaint and then nothing until I checked my account this morning and there is a refund of £470 but still no letters or anything. So whereas I'm over the moon to get anything considering I wasnt sure if I had PPI it seems a bit disproportionate considering the other loan and refund. p.s sorry that was so long I dont think Ive written anything that lengthy since I was at school!!

welwynrose

My husband got a small amount back from American Express for a card he had back in 1997/98 this week so he was happy

ravenous59sound

Hi again, just wondered if anyone had any advice on whether I should refer this to the ombudsman or not?

[Deleted User]

It sounds as if you need to direct your queries to HSBC.

ravenous59sound

ok, many thanks

Nasqueron

ravenous59sound wrote: »

Hi again, just wondered if anyone had any advice on whether I should refer this to the ombudsman or not?

Your refund should show how they calculated it, if you have evidence it's wrong you can ask them to recalculate it.


The guarantee and charge don't mean the PPI was not needed, they could still expect you to pay the difference and a charge could not be invoked without forcing you to sell the house

[Deleted User]

ravenous59sound wrote: »

Hi again, just wondered if anyone had any advice on whether I should refer this to the ombudsman or not?

The relatively small amount suggests you have received a Plevin refund. There should be a letter already on the way to you, but in any case hold off referring to the Ombudsman until you receive a written explanation of what has been refunded and why.