PPI Reclaiming successes and failures

funkyc27

di3004 wrote: »

Funky
This thread here post number:3850;)
http://forums.moneysavingexpert.com/showthread.html?t=1460775&page=193

Thanks muchly!!:p

tulip1234

Reason: Mis-sold PPI on OH credit card due to self employed.
Account opened in 2000

Action taken:
30 Jan 09:First letter to MBNA sent
05 Feb 09:Received an standard 'we are investigating your complaint' letter
20 Feb 09:Followed by a negative response from MBNA advising if unsatisfied could take up with FOS with the paragraph re outside of the time-limits.
25 Feb 09:Complaint form sent to FOS
20 Mar 09:Letter from FOS advising investigating further with MBNA
15 Apr 09:MBNA confirmed an offer of a full refund of premiums paid, along with associated interest plus interest at 8%
18 Apr 09:Sent settlement form back to FOS
09 May 09:Letter from MBNA advising refund of premiums since inception date £1,827.17 associated interest £422.79 so £2249.96 credited to account. A cheque for £791.14 being sent in the next 7-10 working days. Total refund £3041.10:T :money:

di3004

tulip1234 wrote: »

Reason: Mis-sold PPI on OH credit card due to self employed.
Account opened in 2000

Action taken:
30 Jan 09:First letter to MBNA sent
05 Feb 09:Received an standard 'we are investigating your complaint' letter
20 Feb 09:Followed by a negative response from MBNA advising if unsatisfied could take up with FOS with the paragraph re outside of the time-limits.
25 Feb 09:Complaint form sent to FOS
20 Mar 09:Letter from FOS advising investigating further with MBNA
15 Apr 09:MBNA confirmed an offer of a full refund of premiums paid, along with associated interest plus interest at 8%
18 Apr 09:Sent settlement form back to FOS
09 May 09:Letter from MBNA advising refund of premiums since inception date £1,827.17 associated interest £422.79 so £2249.96 credited to account. A cheque for £791.14 being sent in the next 7-10 working days. Total refund £3041.10:T :money:

Wel done this is great news !:j
Congratulations !
:beer::T:beer:

Heartmate

I am currently trying to reclaim my PPI from Clydesdale Financial Services.
I have received their letter today in response to my claim (within 4 days of my post). In the letter they have denied that I was mis-sold the policy . They have also send a copy of signed finance agreement where it confirms that I "wished" to purchase the policy.

My contention is that I was forced to take the policy as the salesman (for Anglian Home Improvements) was very pushy in selling me the policy and insisted that if I do not take up the PPI then I would lose the value of premium on the discount he was offering me on the cost of building the conservatory. i also believe that the sales representative had no financial background. he did not tell me that the policy was optional and the policy would not cover the full term of the loan

is it worth pursuing the claim on the above grounds? if i go on to write them what should i write?

di3004

Heartmate wrote: »

I am currently trying to reclaim my PPI from Clydesdale Financial Services.
I have received their letter today in response to my claim (within 4 days of my post). In the letter they have denied that I was mis-sold the policy . They have also send a copy of signed finance agreement where it confirms that I "wished" to purchase the policy.

My contention is that I was forced to take the policy as the salesman (for Anglian Home Improvements) was very pushy in selling me the policy and insisted that if I do not take up the PPI then I would lose the value of premium on the discount he was offering me on the cost of building the conservatory. i also believe that the sales representative had no financial background. he did not tell me that the policy was optional and the policy would not cover the full term of the loan

is it worth pursuing the claim on the above grounds? if i go on to write them what should i write?

Hi there

They have sent you a standard response as it seems.

I would write back if this was not the "final response" tell them you will appreciate having this reconsidered, or you will consider taking further action as "you was mis sold" as in the reasons stated in your first letter.

In the final response, they should give details of the Financial ombudsman service (FOS) if eligible.

Keep at them, that is only standard what they sent you, good luck.;)

tulip1234

Heartmate wrote: »

I am currently trying to reclaim my PPI from Clydesdale Financial Services.
I have received their letter today in response to my claim (within 4 days of my post). In the letter they have denied that I was mis-sold the policy . They have also send a copy of signed finance agreement where it confirms that I "wished" to purchase the policy.

My contention is that I was forced to take the policy as the salesman (for Anglian Home Improvements) was very pushy in selling me the policy and insisted that if I do not take up the PPI then I would lose the value of premium on the discount he was offering me on the cost of building the conservatory. i also believe that the sales representative had no financial background. he did not tell me that the policy was optional and the policy would not cover the full term of the loan

is it worth pursuing the claim on the above grounds? if i go on to write them what should i write?

Do not let them off the hook - get their final response and then if not satisfied go to the FOS. It may take a while but hopefully in the long run worth it. Good luck

NStewart67

You may be sitting there wondering whther this is worth going for as your bank will probably say no and you will feel stupid for asking and going out of your way to take up your time worrying about the consequences of what the bank will now do to you....
Well I will ask you some simple things you might surprise yourself with the answer,
- Have you ever been overcharged at a shop - what did you do? let them keep your money ?
- have you ever given a loan to someone and told them to forget about it and not pay you back. (exclude family and friends).
- junk mail that comes through the door , do you buy everything that is offered?

Have you ever applied for a loan and been told the cost to repay the loan will be X amount each month and been told all the reasons as to why the loan protection you are getting will cover redundancy, sickness , death , critical illness cover and then been told the reasons that it may not pay out such as employment sick benefit , critical illness types , redundancy payout and if the cover will last the term of your loan and actually pay of your loan, were you told that the loan protection cover wasnt compulsary and you could buy it elsewhere if you wanted and that if you did that, it wouldnt hold up getting the loan, were you told you could cancel the loan protection within the cooling of period and still shop around for another policy to cover that loan .... or were you told it was a fully protected loan and the cost was X amount.

Were you told that on a joint loan that only one person is covered usually the highest earner of the two as they couldnt really sell it to the non earner such as a housewife or husband as there was nothing to protect against so if that person became critically ill or unfortunately died the loan remained outstanding?

Did you really believe that the bank who should be beyond reproach would really do everything in the best interest of you and not try and deceive you unwittingly or not then YOU LIKE MANY THOUSANDS OF US have nothing to be afraid of .

I was of that opinion and then I started looking at this site and in the first instance I applied to an old mortagage comapny for exit fee,s I may have been charged too much for after reading an article and sure enough I got £150 back.

Then I looked into the LOAN PROTECTION situation and asked my bank to send me details of MY loans going over the last 6 years and sure enough there was the loan protection on each one , even the ones I hadnt even signed for and whether I had signed for or not I didnt know fully what I was signing for .... so I applied for a refund and explained what hadnt been discussed or explored by the bank as to whether I had cover or not and yes I had to wait approximately 10 weeks while they took the time needed to investigate but at the end I got a reply and now I'LL ask you one more thing.

For a small ammount of time invested in retrieving the information and writing to your bank and waiting 8-10 weeks would you be happy with a refund including interest of nearly £4,500 ... I was.

I dont see this as a victory or the bank versus me , simply that somebody made a mistake or didnt understand how to sell me a policy they didnt know enough about and I couldnt make a full all the facts decision so I was reimbursed.

SO DONT THINK THE BANK WILL THINK BAD OF YOU , ITS NOT ABOUT THAT ITS ABOUT KNOWING WHAT YOU BOUGHT AND WHAT IT DID , IF YOU DIDNT OR DONT KNOW , THEN YOU PROBABLY WERE MIS SOLD.

hope this helps

di3004

NStewart67 wrote: »

You may be sitting there wondering whther this is worth going for as your bank will probably say no and you will feel stupid for asking and going out of your way to take up your time worrying about the consequences of what the bank will now do to you....
Well I will ask you some simple things you might surprise yourself with the answer,
- Have you ever been overcharged at a shop - what did you do? let them keep your money ?
- have you ever given a loan to someone and told them to forget about it and not pay you back. (exclude family and friends).
- junk mail that comes through the door , do you buy everything that is offered?

Have you ever applied for a loan and been told the cost to repay the loan will be X amount each month and been told all the reasons as to why the loan protection you are getting will cover redundancy, sickness , death , critical illness cover and then been told the reasons that it may not pay out such as employment sick benefit , critical illness types , redundancy payout and if the cover will last the term of your loan and actually pay of your loan, were you told that the loan protection cover wasnt compulsary and you could buy it elsewhere if you wanted and that if you did that, it wouldnt hold up getting the loan, were you told you could cancel the loan protection within the cooling of period and still shop around for another policy to cover that loan .... or were you told it was a fully protected loan and the cost was X amount.
Were you told that on a joint loan that only one person is covered usually the highest earner of the earner as they couldnt really sell it to the non earner such as a housewife or husband as there was nothing to protect against so if that person became critically ill or unfortunately died the loan remained outstanding?
Did you really believe that the bank who should be beyond reproach would really do everything in the best interest of you and not try and deceive you unwittingly or not then YOU LIKE MANY THOUSANDS OF US have nothing to be afraid of .

I was of that opinion and then I started looking at this site and in the first instance I applied to an old mortagage comapny for exit fee,s I may have been charged too much for after reading an article and sure enough I got £150 back.

Then I looked into the LOAN PROTECTION situation and asked my bank to send me details of MY loans going over the last 6 years and sure enough there was the loan protection on each one , even the ones I hadnt even signed for and whether I had signed for or not I didnt know fully what I was signing for .... so I applied for a refund and explained what hadnt been discussed of explored by the bank as to whether I had cover or not and yes I had to wait approximately 10 weeks while they took the time needed to investigate but at the end I got a reply and now I'LL ask you one more thing.

For a small ammount of time invested in retrieving the information and writing to your bank and waiting 8-10 weeks would you be happy with a refund including interest of nearly £4,500 ... I was.

I dont see this as a victory or the bank versus me , simply that somebody made a mistake or didnt understand how to sell me a policy they didnt know enough about and I couldnt make a full all the facts decision so I was reimbursed.

SO DONT THINK THE BANK WILL THINK BAD OF YOU , ITS NOT ABOUT THAT ITS ABOUT KNOWING WHAT YOU BOUGHT AND WHAT IT DID , IF YOU DIDNT OR DONT KNOW , THEN YOU PROBABLY WERE MIS SOLD.

hope this helps

Wow, well done to you........:T

Also thanks for posting this, this will help many, much appreciated, thank you and Congratulations.:beer:

Beatlefan

NStewart67 wrote: »

You may be sitting there wondering whther this is worth going for as your bank will probably say no and you will feel stupid for asking and going out of your way to take up your time worrying about the consequences of what the bank will now do to you....
Well I will ask you some simple things you might surprise yourself with the answer,
- Have you ever been overcharged at a shop - what did you do? let them keep your money ?
- have you ever given a loan to someone and told them to forget about it and not pay you back. (exclude family and friends).
- junk mail that comes through the door , do you buy everything that is offered?

Have you ever applied for a loan and been told the cost to repay the loan will be X amount each month and been told all the reasons as to why the loan protection you are getting will cover redundancy, sickness , death , critical illness cover and then been told the reasons that it may not pay out such as employment sick benefit , critical illness types , redundancy payout and if the cover will last the term of your loan and actually pay of your loan, were you told that the loan protection cover wasnt compulsary and you could buy it elsewhere if you wanted and that if you did that, it wouldnt hold up getting the loan, were you told you could cancel the loan protection within the cooling of period and still shop around for another policy to cover that loan .... or were you told it was a fully protected loan and the cost was X amount.
Were you told that on a joint loan that only one person is covered usually the highest earner of the earner as they couldnt really sell it to the non earner such as a housewife or husband as there was nothing to protect against so if that person became critically ill or unfortunately died the loan remained outstanding?
Did you really believe that the bank who should be beyond reproach would really do everything in the best interest of you and not try and deceive you unwittingly or not then YOU LIKE MANY THOUSANDS OF US have nothing to be afraid of .

I was of that opinion and then I started looking at this site and in the first instance I applied to an old mortagage comapny for exit fee,s I may have been charged too much for after reading an article and sure enough I got £150 back.

Then I looked into the LOAN PROTECTION situation and asked my bank to send me details of MY loans going over the last 6 years and sure enough there was the loan protection on each one , even the ones I hadnt even signed for and whether I had signed for or not I didnt know fully what I was signing for .... so I applied for a refund and explained what hadnt been discussed of explored by the bank as to whether I had cover or not and yes I had to wait approximately 10 weeks while they took the time needed to investigate but at the end I got a reply and now I'LL ask you one more thing.

For a small ammount of time invested in retrieving the information and writing to your bank and waiting 8-10 weeks would you be happy with a refund including interest of nearly £4,500 ... I was.

I dont see this as a victory or the bank versus me , simply that somebody made a mistake or didnt understand how to sell me a policy they didnt know enough about and I couldnt make a full all the facts decision so I was reimbursed.

SO DONT THINK THE BANK WILL THINK BAD OF YOU , ITS NOT ABOUT THAT ITS ABOUT KNOWING WHAT YOU BOUGHT AND WHAT IT DID , IF YOU DIDNT OR DONT KNOW , THEN YOU PROBABLY WERE MIS SOLD.

hope this helps

Brilliant, inspiring post. Thank you for sharing. :T

Upsetciticustomer

:rolleyes:I strongly believe that I was missold the PPI policy. There were factors which were irritants, namely not wanting the Insurance in the first place, nor to this day understanding the repayment amounts or interest, nor being given the option to pay the PPI upfront so as not to accrue interest etc.

However underlying all these issues, the basis of my complaint is that the fact that I have now learnt that the liklihood of any payouts on this PPI is extremely slim due to the fact that I had major spinal surgery in July 1999. I had part of one of my lower discs removed and I suffer with periodic pain on a continual basis. I can prove this fact with either MRI scans, letter from the Consultant Neurosurgeon and Insurance Payout Invoices from Prime Health.

My revised understanding this weekend, leaves me astounded that I have paid CONSIDERABLE SUMS for a product that I allege CitiFinancial would well know would not pay me out in my hour of need.

I have also been made aware that the FSA rules can only be enforced since 2005 which this current loan falls within. I have however been sold a number of PPI policies from Citifinancial since my operation in 1999, which I can still pursue but I recognise would be over-zelous on my part.

Do you think I have a claim?