PPI Reclaiming successes and failures

di3004

:beer:

rpmn12 wrote: »

What: PPI Loan insurance
Who: Northern Rock
How much: £2879 plus 8% interest £524 - Total: £3403
Letter or Ombudman: 1 Letter + Norther Rock Form

Had the letter through this morning, Reclaimed missold PPI on a loan with Northern Rock. Start to finish its taken about 6 weeks it was all quite straight forward, The remaining payments have been dropped by £50 a month. Thanks to Martin for providing the guides and this website.

Great news, Congratulations.
:beer::T:beer:

Toesdugin

Hi There,

I'm new to all this but have been sneakily watching posts for a couple of weeks. As a result I sent out three letters two weeks ago - One to Lloyds TSB, One to Egg and one to First Plus.

Lloyds in relation to a loan I've had for 4.5 years - interestingly I had a previous loan (with PPI) which I re-negotiated due to unemployment - which I told them - and the new loan still had PPI. So far I've had the letter to say they are looking into it, so will wait for the "not missold" letter in the mail. Haven't heard a thing from Egg, but the posts here warn me in advance that I'll get the "forget it you signed up online routine." I took out that card back in 2000 so don't really know what to expect - any advice appreciated.

Lastly - FirstPlus - Re-deemed mortgage - PPI part of exhorbitant payment was around £20,000 - so waiting to see what happens with that - again had a letter to say they are looking into it.

Wanted to thank everyone here for the template letters, encouragement, advice etc. You all spurred me on to have a try at re-couping some of this - both my husband and I are in roles where we have excellent Illness cover and we have separate redundacy cover anyway - can't believe we were so stupid not to understand that the PPI's wouldn't have helped us anyway!

simeon_green

• What were you reclaiming: LOAN
• Who was the provider: FIRST PLUS
  
• How much did you get back: 10K PPI PLUS ALL OVERPAYMENTS REFUNDED WITH 8% INTEREST
  
• Did you get it back after a letter or did you go to the Financial Ombudsman: FINANCIAL OMBUDSMAN IT TOOK ABOUT A YEAR
• Success!!!! My advice would be to keep at it if you genuinely believe you have a case - don't let them pay you out early. the financial ombudsman told me that first plus seemed to have a policy of ignoring everything they are sent - until they made a final ruling against them to pay it back. my policy was mis sold to me by offering a lower interest rate only if i took PPI, however first plus' disc with all the data from the first phone call was "corrupted" so they couldn't confirm it. Unbelievable! however it all came good, and all down to these forums whic spurred me into action. thanks everyone! not only did i get my entire loan recalculated so i pay 100 pounds less every month i got a cheque to about 4,500 quid to cover overpayments plus interest!:beer:
  

di3004

simeon_green wrote: »

• What were you reclaiming: LOAN
• Who was the provider: FIRST PLUS
  
• How much did you get back: 10K PPI PLUS ALL OVERPAYMENTS REFUNDED WITH 8% INTEREST
  
• Did you get it back after a letter or did you go to the Financial Ombudsman: FINANCIAL OMBUDSMAN IT TOOK ABOUT A YEAR
• Success!!!! My advice would be to keep at it if you genuinely believe you have a case - don't let them pay you out early. the financial ombudsman told me that first plus seemed to have a policy of ignoring everything they are sent - until they made a final ruling against them to pay it back. my policy was mis sold to me by offering a lower interest rate only if i took PPI, however first plus' disc with all the data from the first phone call was "corrupted" so they couldn't confirm it. Unbelievable! however it all came good, and all down to these forums whic spurred me into action. thanks everyone! not only did i get my entire loan recalculated so i pay 100 pounds less every month i got a cheque to about 4,500 quid to cover overpayments plus interest!:beer:
  

Brilliant !:j
Congratulations.:beer:

Dot_Com

Hi all - I need advice.

First Plus have sent final response to my claim for mis-selling. I was claiming about pre existing illness and the fact that I have 6 months full pay sick scheme in work. Which I had to use last year by the way because I developed breast cancer, I am back at work and so didn't make a claim on the insurance.They do not agree and have listened to telephone calls. They sent me a copy and I must admit I agreed to take it out as I was desperate at the time, I also signed the agreement and the PPI box was ticked.
In their final letter they have offered "as a goodwill gesture" to cancel the insurance and pay me back £1000. What should I do, would I have a case to send to the FOS or should I just keep paying for another year and get £6500 back. This was a single payment policy and after 5 years you get back the amount of the original premium. Your advice will be much appreciated. Thanks.

di3004

Dot_Com wrote: »

Hi all - I need advice.

First Plus have sent final response to my claim for mis-selling. I was claiming about pre existing illness and the fact that I have 6 months full pay sick scheme in work. Which I had to use last year by the way because I developed breast cancer, I am back at work and so didn't make a claim on the insurance.They do not agree and have listened to telephone calls. They sent me a copy and I must admit I agreed to take it out as I was desperate at the time, I also signed the agreement and the PPI box was ticked.
In their final letter they have offered "as a goodwill gesture" to cancel the insurance and pay me back £1000. What should I do, would I have a case to send to the FOS or should I just keep paying for another year and get £6500 back. This was a single payment policy and after 5 years you get back the amount of the original premium. Your advice will be much appreciated. Thanks.

Hi Dot Com

Sorry to hear of your health issues and hope all is well now.

Listen to the recordings again, is there anything they have missed, did they fail to tell you it was optional, did they give you that option, and if this was over the 5 years for a loan of a longer period, did they explain it would be added to the loan and that you will still be paying for this until after the ppi term?

Even if you agreed with it, you may have assumed it was all part of taking out the policy ???

I would like I said above listen to the recordings again and see if there is anything amiss and for the fact that you were sold this despite your pre existing med conditions, you have a case anyway......

So as this was the final response, personally I would now go to the Financial ombudsman service (FOS) who will take into consideration 2 sides and even your medical condition.

Just for you to know that even on our recordings some of it sounded like we agreed to it, but there is more to it than that - that the FOS will look into.;)

You can either ring the FOS or download a form from their site, remember to enclose a copy of the correspondence and give your version of how you were mis sold this.
Good luck and post up for more help if required.
http://www.financial-ombudsman.org.uk/consumer/complaints.htm

mollymoo96

Abbey Loan ppi reclaimed £1.300

Took 1 letter 5 weeks ago they sent me a Questionaire that i filled in. Got a reply only 2 weeks later offering full ppi + 8% interest . I am over the moon thanks to this sight for all your advice.:T:beer:
I have got 5 more claims in at the minute . Abbey have been the fasted replying .

Thanks everyone

di3004

mollymoo96 wrote: »

Abbey Loan ppi reclaimed £1.300

Took 1 letter 5 weeks ago they sent me a Questionaire that i filled in. Got a reply only 2 weeks later offering full ppi + 8% interest . I am over the moon thanks to this sight for all your advice.:T:beer:
I have got 5 more claims in at the minute . Abbey have been the fasted replying .

Thanks everyone

Brilliant, well done and Congratulations.
:beer::T:beer:

pinknico

Dot_Com wrote: »

Hi all - I need advice.

First Plus have sent final response to my claim for mis-selling. I was claiming about pre existing illness and the fact that I have 6 months full pay sick scheme in work. Which I had to use last year by the way because I developed breast cancer, I am back at work and so didn't make a claim on the insurance.They do not agree and have listened to telephone calls. They sent me a copy and I must admit I agreed to take it out as I was desperate at the time, I also signed the agreement and the PPI box was ticked.
In their final letter they have offered "as a goodwill gesture" to cancel the insurance and pay me back £1000. What should I do, would I have a case to send to the FOS or should I just keep paying for another year and get £6500 back. This was a single payment policy and after 5 years you get back the amount of the original premium. Your advice will be much appreciated. Thanks.

If I were you I would take this to the FOS ,was this policy for 5 years but the loan runs for longer? If so this is very frowned upon. Also if you felt pressured to take out PPI and were already covered that is another point in your favour.

JuniorDesigner

Hi guys, had some good news from the bank, after about 8 weeks or so Natwest finally got back to me offering me £1300 in PPI on a £5000 loan I took out over 5 years ago now. Am very pleased and thank full of everyone on here for advice and good will!!!

Dan