PPI Reclaiming successes and failures

juliedawn_2

Thanks ...have sent the 2nd letter today.

kevinelly

I had initially borrowed £15,000 from HSBC and this was consolidated with a further loan of about £17,000. The loan was settled when I remortgaged.

Both loans had PPI on them as I was told that loans of this size would probably not be authorised without PPI.

After seeing MSE on television re PPI reclaims I sent the initial template letter to HSBC without putting any figure on what I believed to be my claim. I thought the figure would be in the region of £3,000 if I was successful.

HSBC replied that they were looking into the case and also advised that they might need an extra few weeks to carry out their investigations. Then after a period of about 10 weeks from my initial letter I received a written offer of £5,675. This included refunds of PPI, early repayment penalties and interest.

This was far more than even I thought I was due and took just one letter!

Previously got £2,900 bank charges (about 80% of my claim if interest added) refunded from HSBC March 2007 also after one letter.

£298.00 back from Capital One for charges reclaim also after one letter.

Still trying with Black Horse for PPI. Interested to know if anyone else has had any success with them.

Total refunds to date £8,873.

NV187

I previously posted about my current progress with Barclays... Link: http://forums.moneysavingexpert.com/showpost.html?p=7872653&postcount=1949
They eventually sent a letter stating that the PPI was of "minimal cover given the circumstances" and they will be making a full refund of the insurance premium together with the associated interest paid on it. However, they had also stated that in order for them to do this, we would need to apply for a new unprotected loan, which is then used to repay our existing loan, the PPI amount therefore being used towards reducing our loan amount payable. They had stated that the offer was valid for 30 days (letted dated 10 January).

However, I then sent them another letter rejecting the offer made, stating that I wished to have the money refunded to me and a request to adjust the future monthly loan payments to exclude PPI. I have now received a letter stating that they had not infact admitted fault, but had stated that the PPI would have been of "minimal cover". They have also stated that as we have rejected the offer made to us, they are now requesting details of how we would like to repay the outstanding balance of the loan, and if they don't hear from us this week, they are assuming that we no longer wish to pursue the matter, and we will basically be back at square 1.

Can someone now advise me on what to do next please? I just want the matter dealt with and out the way now. Are they within their rights to insist that the PPI refund is deducted from the loan amount I owe, or can I expect a cash refund from them? Have I shot myself in the foot by rejecting their offer, or can I still go back to accept if need be?

Any help would be greatly appreciated.

Thanks.

mortimerrankine

kevinelly wrote: »

I had initially borrowed £15,000 from HSBC and this was consolidated with a further loan of about £17,000. The loan was settled when I remortgaged.

Both loans had PPI on them as I was told that loans of this size would probably not be authorised without PPI.

After seeing MSE on television re PPI reclaims I sent the initial template letter to HSBC without putting any figure on what I believed to be my claim. I thought the figure would be in the region of £3,000 if I was successful.

HSBC replied that they were looking into the case and also advised that they might need an extra few weeks to carry out their investigations. Then after a period of about 10 weeks from my initial letter I received a written offer of £5,675. This included refunds of PPI, early repayment penalties and interest.

This was far more than even I thought I was due and took just one letter!

Previously got £2,900 bank charges (about 80% of my claim if interest added) refunded from HSBC March 2007 also after one letter.

£298.00 back from Capital One for charges reclaim also after one letter.

Still trying with Black Horse for PPI. Interested to know if anyone else has had any success with them.

Total refunds to date £8,873.

claiming against black horse they claim we were not mis sold ppi, whcih we were 100% . it is noe with fos will keep you upto date congrats on refund

lucid2008

Black horse are the toughest by far at the moment even though i managed to get refund on a technicality.I think they are planning to fight a lot of complaints in court this summer.

lucid2008

The two magical words they come out with is 'NO PROOF'.Make sure you have written or verbal recorded proof if you fight them as its basically your word against theirs.

SUFC

mortimerrankine wrote: »

I am in the same situation as you with black horse, how are you getting on , i am getting nowhere mines is with the FOS.

Hi, for one account i had with BH they have sent back a letter saying when they sent me the paperwork there was a cooling off period of 10 days when they are not allowed to contact us by law, during this time we had time to read the paperwork & refuse the PPI if we felt it wasn't for us. Only thing with this is all the business was done in their office, not via the post, the PPI box was ticked for us & we were pressured into accepting it. My response to them is in the post!. For the other 2 loans we had with them, i've had letters saying they are looking into our 'complaint' & will get back to us shortly. I will not crack on this as they are so pushy with the PPI. I have nothing to lose, they have. Hope this info helps you & keep me informed of your progress & good luck.

curlyboy

Helllo everyone i re claimed my bank charges successfully thanks to all your help now im unclear to PPI

I have checked my paperwork I have a mortgage with the halifax for £69,000

I also have a loan (addional lending amount of £23,000)also with the halifax i have checked it says if I leave there is a penalty fee if i leave early or pat it off (they are charging me ppi )

I have PPi on my mortage with the halifax

But they are also charging me PPI on the £23,000 as well ???? so why am i paying ppi twice when its not needed

I dont need it on the £23,000 as im allready paying it on the mortgage

Have I got a case there please

many thanks all

smitchy73

curly,
Each of the insurance's you have will only cover the payments on each of the two totals.
You will possibly also find that where you say you have PPI on the mortgage is in fact mortgage protection insurance. Check out some of the comparison sites like money saving supermarket for policies from other companies and you'll be surprised, you can cancel that policy at any time with Halifax, but make sure you read the small print because some dont pay out for the first 3/4 months, and will usually only pay for 12 months, check the details of yours.

Hope this helps.

curlyboy

thanks smitchy im sure your correct mortgage payment protection on the mortgage..but what about the £23k....my fixed rate is up on the £23k im on te SVR now @ 6.33 and paying ppi on it - my mortage is up for review in OCTober 2008...my mortgage fixed rate ends so halifax will give me a combined remortage package offer

but you say check out the comparison sites for policies from other companies im not sure what u mean sorry

anyway what about the ppi im paying on the £23k is it worth a shot and call the halifax 2morrow and ask them to break everything im paying ??

many thanks