PPI Reclaiming successes and failures

di3004

Upsetciticustomer wrote: »

: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?

Hi there

And Yes I would go for it with your reasons you have given on this, as the policy would possibly be worthless to you anyway.

If unsuccessful and if not eligible to take this to the Financial ombudsman service (FOS) there are other way this can be taken further, as I believe you do have a good case here.

For more info and templates to follow, here is the link to the reclaiming process:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

I would give it a go here and just write your own reasons within the template, they have 8 weeks to respond to you in full.

In the final response they should give details of the FOS if eligible to go this direction.

If they were not covered by GISC prior to the FSA who taken over in Jan 2005, there are other options, such as small claims court, but always get advice on this and if you go decide to use a solicitor, always get advice and go for no upfront fees.

I'm sure others on here will be able to tell you yout options you have.

The FOS are a free service, and are able to investigate complaints if covered by those regulators as stated above.

Post all letters by recorded delivery, good luck and let us know if you require further help throughout this.;)

Almost_There_3

Hi, just wanted to add a success story,

After writing just 1 letter to FP, they have upheld my complaint after just 6 weeks and sent a very apologetic letter :rotfl:

They have offered to give a full refund of the insurance premium plus interest paid on the premium to date and apply this back to our loan account. They will also reset the loan back to as it was without the PPI ever being on it. And will send us a cheque for the monthly payments we have made toward the premium.

Still, cant quite believe they upheld after just 1 letter. But it goes to show whats possible!

Now, just waiting for a nice cheque to arrive :beer:#


Edited to say a big thanks to everyone over at firstpluscomplaints for all the advice/guidance.

di3004

Almost_There wrote: »

Hi, just wanted to add a success story,

After writing just 1 letter to FP, they have upheld my complaint after just 6 weeks and sent a very apologetic letter :rotfl:

They have offered to give a full refund of the insurance premium plus interest paid on the premium to date and apply this back to our loan account. They will also reset the loan back to as it was without the PPI ever being on it. And will send us a cheque for the monthly payments we have made toward the premium.

Still, cant quite believe they upheld after just 1 letter. But it goes to show whats possible!

Now, just waiting for a nice cheque to arrive :beer:

This is fantastic, well done, and Congratulations.:j
:beer::j:beer:

amersall

Almost_There wrote: »

Hi, just wanted to add a success story,

After writing just 1 letter to FP, they have upheld my complaint after just 6 weeks and sent a very apologetic letter :rotfl:

They have offered to give a full refund of the insurance premium plus interest paid on the premium to date and apply this back to our loan account. They will also reset the loan back to as it was without the PPI ever being on it. And will send us a cheque for the monthly payments we have made toward the premium.

Still, cant quite believe they upheld after just 1 letter. But it goes to show whats possible!

Now, just waiting for a nice cheque to arrive :beer:#


Edited to say a big thanks to everyone over at firstpluscomplaints for all the advice/guidance.

:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:j:jhooray, another first crap win, well done to you:T:T:T:T:T:T:T:T:T:T:T

lalabibaby

Well done ..... hope I am as lucky as I sent letters off a couple of weeks ago, one to FP direct and another to Loans.co.uk which was also a FP loan. They have both acknowledged letters and said they will get back to me by the end of May so fingers crossed.

di3004

lalabibaby wrote: »

Well done ..... hope I am as lucky as I sent letters off a couple of weeks ago, one to FP direct and another to Loans.co.uk which was also a FP loan. They have both acknowledged letters and said they will get back to me by the end of May so fingers crossed.

Not long now then, good luck.;) And fingers crossed.;)

SteveR1983

Hi all,

Just wanted to thank Martin - I sent a letter in March requesting the PPI back from a graduate loan I took out.

They have just written back, admitting no liability but offering the total premiums paid so far (£1185), plus interest (£86). They are willing to restructure my loan to remove PPI from the rest of the loan.

I'm very grateful for the advice here, thank you.

Steve

di3004

SteveR1983 wrote: »

Hi all,

Just wanted to thank Martin - I sent a letter in March requesting the PPI back from a graduate loan I took out.

They have just written back, admitting no liability but offering the total premiums paid so far (£1185), plus interest (£86). They are willing to restructure my loan to remove PPI from the rest of the loan.

I'm very grateful for the advice here, thank you.

Steve

Fantastic.:j

Well done and Congratulations Steve.:beer::T:beer:

amersall

SteveR1983 wrote: »

Hi all,

Just wanted to thank Martin - I sent a letter in March requesting the PPI back from a graduate loan I took out.

They have just written back, admitting no liability but offering the total premiums paid so far (£1185), plus interest (£86). They are willing to restructure my loan to remove PPI from the rest of the loan.

I'm very grateful for the advice here, thank you.

Steve

:j:jthat is good news well done:j:money:

Heartmate

[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[/QUOTE]

Thanks a lot for the inspiring post. I sincerely believe that I was mis-sold the policy and was left with no choice but to buy it.

A well drafted reply has been posted today by next day delivery registered post.

Will keep updated on the progress. Thanks again