PPI Reclaiming successes and failures

di3004

allisonj wrote: »

agghhhh!! Can anyone please help me I dont know what to do yesterday a lady from lloyds TSB told me my claim had been accepted and I have now received a letter to say it has been rejected, as you can imagine I am deeply upset!! What can I do

Hi Alison, this does not sound right, but will PM you as a friend maybe able to help you hear ok due to experience with these.;) .

Don't worry we will get this sorted out.;)

Please check your PM thanks.

Di.

craigieboy40

Can anyone one give me advice about first plus?
I am 10 months short of been able to claim my ppi lump sum back. i will make all payments no problem. i know i was misold the polciy on many points! All i want to know is am i able to make a claim for a full refund plus interest or am i best waiting for the payment then make my claim. . the bit confusing me is in martin's list for not been able to claim as i am still in the policy. Please Help

terry876

Hi all, been watching with interest the forums, following martin's program we wrote to EGG my wife had had 2 previous loans with them without PPI, following problems with my finances she applied for a further loan and we were told that PPI would help her chances of this being approved. Now after 2 letters we are told that they conveniently cannot find tapes of conversation. Have today sent letter to Ombudsman.

hackedoff_3

• What were you reclaiming: Business Loan Repayment Insurance
• Who was the provider: Lloyds TSB
• How much did you get back: £1237.44 plus interest (unknown at the moment)
• Did you get it back after a letter or did you go to the Financial Ombudsman: After one letter
• And then write your brief reclaim tale

I claimed back just under £2000 for insurance that was added to a business loan that I took out in 2000 - the loan ran to the summer of last year. I sent one letter, advising that the business banking manager simply added the insurance and ticked the box so I disputed the fact that it was 'optional'. Lloyds went through the proper channels but said that it had not been able to obtain all the necessary information surrounding the policy as it was sold over 7 years ago. As a gesture of goodwill they were offering a 'full refund of your premium including any interest'.

I am delighted and officially not hacked off. What a Valentine's gift!

juliedawn_2

Well done!!

Tipustyger

Hi everyone.

• What were you reclaiming: PPI on a personal loan
  
• Who was the provider: Lloyds TSB
• How much did you get back: Around £2000 plus interest (unknown at the moment)
• Did you get it back after a letter or did you go to the Financial Ombudsman: After two letters
• And then write your brief reclaim tale

Sorry for this being a bit of a long post but I'm hoping it might prove helpful for other people out there.

Just before Christmas, I read the PPI reclaiming article by Martin on this website and suspected that my parents may have been mis-sold a policy by Lloyds in connection with a loan they had taken out a while ago. Upon investigation, I found out that they did have PPI and did not even realise. What's more the premium was over £1800 on a £5000 loan and they had been paying interest as it was added as a single premium at the start of the loan (Outrageous in my books :mad: ).

Anyway, based on Martin's template, I sent them an initial letter to which they replied that they could not agree that my father had been mis-sold the policy as he had been provided with documents breaking down the money owed into loan amount, insurance premium, monthly payment with details of the interest. Also, they said he has signed a document acknowledging that he wanted PPI and had been fully informed etc. In fact he hadn't been advised but just signed everything he had been told was necessary by the bank employee. Also, his English isn't great so he wouldn't have been able to get through all the jargon on his own.

After reading the reply, I was very cross as I can't understand how a person can be said to have been advised when they don't even know they have a policy. Anyway, to cut a long story short I wrote a second letter. Today, (within a week) my father recieved a letter from Lloyds saying they would refund him the whole amount asked for plus interest on the condition that this was not seen as an acceptance that the policy was mis-sold and that the policy was cancelled. They sent a form for him to accept the offer which he is sending off as I write. Needless to say he and me and are over the moon as it adds up to nearly £2K and the whole loan will nearly be paid off once the figures have been adjusted. :T:T:T I should add that they didn't really engage with anything I wrote about the mis-selling. Also the clincher appears to have been that my father was unemployed rather than any of my other reasons. However, you never know. The sheer number of reasons may have contribruted to them not wanting it referred to the ombudsman.

So the moral of the story is DO NOT be fobbed off and persevere. Good luck to all those who are in the process yourselves. My thanks to Martin and the users of this website too. Your advice has been enormously helful and I couldn't have done it without you. :j

Laini

A success
my hubby got 115,98 refund on a loan he only had a few months with A&L as a gesture of goodwill

we have other PPI issues on gonig with
First Plus 3 letters then we have gone to FOS
Nemo 1 letter going to FOS
Welcome Finance1 letter gonig to FOS
Abbey still waiting for reply

will notify you of other successes
hopefully yours
Laini xxxx:j

weissy

Hey....

I have claims outstanding with HSBC and Egg. Both have denied my PPI reclaim due to me signing the PPI form stating i wanted it and Egg not being able to trace the call. I have sent 2 letters to the Financial Ombudsman to let them deal with it as they are not dealing with the fact that i was told by both parties that taking out PPI would enhance my chances of getting the credit due to me only being 18 years old when taking them out and not having much credit history.

Anyone else in the same situation?

Will keep you updated.

Saab

• What were you reclaiming: PPI on a personal loan
• Who was the provider: Alliance and Leceicester
• How much did you get back: £1004.65 made up of £875.52 + 8% interest of £129.13
• Did you get it back after a letter or did you go to the Financial Ombudsman: After one letter
• And then write your brief reclaim tale

took out the loan in April 2005, online. Was unable to apply for the loan without checking the PPI box. Read the online conditions that stated the loan and/or PPI could be cancelled within 28 days.

Received the loan and immediately sent a letter requesting cancellation of the PPI. Received a letter back stating that to cancel the PPI a new loan would have to be raised, and that would be at a higher interest rate, which basically saved us about £2 a month. So we thought it was pointless.

Last year, after reading about the refinancing of the loan being wrong, I applied again in April to have the PPI cancelled. I received the same letter again, about refinancing he loan.

found this site...read the success stories, used the template letter, adjusted it for my circumstances, and sent it on 4th February. Today I have received an offer of the above, and an offer to recalcuate the loan without the PPI. As yet no interest rate has been alluded to with regards to the new loan. I will be sending the letter confirming that I accept the offer.

Brilliant...thank you Martin.:money: :T

dialysis

Picture financial mis-sold PPI
Hi everyone not been on for a while have now recieved response from Picture with regards to our mis-sold PPi. Just to recap my husband and I tooke PPi in March last year at a cost of £22000, anyway I have fallen ill and am unable to return to work in my present job. Because of my illness and worries about how we are going to keep hold of our home, our loan is secured on our home, I am now suffering from major depression and have been prescribed tablets as I am quite suicidal at times. I contacted our loan company for a claim form and was told I could not claim for sickness through our PPi as I was not covered for this, only death. I then looked on this website and as we were mis-sold the policy wrote a letter, with the help of Martins template and advice from Tiggrae, to Picture. we have recieved a reply today. Basically telling us to get stuffed as It was my fault and I agreed to the policy.
This is their reply to my complaint:

Dear Mr Mrs Pickup
Thank you for your recent letter with regards to the Picture payment Protector (PPP) insurance policy on your loan. I am sorry to hear that you are not completely satisfied with the level of service you have received from Picture. however, after having conducted a full investigation we do not believe your insurance was mis-sold. The concerns you have raised are outlined below

You were led to believe that both parties would be equally covered on the insurance policy
We are in breach of the Sex Discrimination Act 1975 by automaticlly naming the female customer as second maned applicant on the insurance policy

A full case review has been completed by the compliance department in order to answer your concerns and bring this matter to a close.

On review of this investigation I can now confirm that your loan consultant discussed the policy in great detail with both parties. The loan consultant explained that both parties would receive life cover but only one would recieve the additional Accident, sickness and unemployment cover. You were also advised that it is entirely up to youwho was named as the first applicant on the insurance policy. It was advised that youchoose the highest wage earner to which Mrs Pickup advised 'Yeah well do that then I think, he does earn more than me'

The loan consultant did not automatically add Mr Pickup as the main PPP applicant infact Mrs Pickup chose Mr Pickup to recieve the full cover. It was also disclosed that Mrs Pickup suffers from food allergies which can be life threatening this was added as a pre-exsisting medical condition therefore Mrs Pickup would not be eligble for full cover anyway.
In the circustances I regret that I am unable to uphold your complaint that the payment protection was mis-sold I trust the above has been adequately explained the reasons for this decision and thank you for providing us with this opportunity to address your concerns.

Yours sincerely

Customer support executive

I can only say that if this was the case why did I bother to ring for a claim form in the first place. My husband does not remember speaking in great detail about the policy and neither do I. It appears that we were mis-sold the policy anyway as why would anyone advice insurance for someone with a life threatening illness who woud never be covered anyway. There is no way we would have signed up for a five year policy with interest to be paid for 25 years under these circumstances. Can anyone give us adive please on where we go from here. Sorry it is a long one. Thank you:mad:



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