PPI Reclaiming successes and failures

craigprich

I was claiming on a flexible loan I took out with Cahoot in 2004. Initially I sent off the template letter and Cahoot told me where to go, undeterred I sent off the second letter and was told to contact Abbey National complaints dept. I did this and still no joy so I went to the Financial Ombudsman. I received a letter today from the Abbey offering £4,422.42 from November 2004 to September 2007. I took the initial loan out for £12,000 but it has been running at around £15000 for the last few years. I claimed because when I applied online I didn't indicate that I wanted PPI, one month later I was phoned by a salesman at Cahoot and pressured into taking it out.
Abbey said
"I have been unable to satisfy myself..........that you were provided with sufficient details to be able to make an informed decision."

Result!! Except that I am in the process of entering into an IVA and don't think I'll be able to touch the money!! Never mind, always nice to get one up on the banks.:D

kazlau

I contacted the Royal Bank of Scotland when my 20 year old daughter told me she had ppi on a loan. She had lost her job within a month of taking it out, been unemployed, took a part time job and finally went to college all without claiming or cancelling the insurance. We challenged the bank on the basis that they sold her the product without fully explaining what it was for (she thought it would make her payments for her if she was unable to do so at any time) which was evident by the events that had passed since she took out the loan. If she had properly known what it was for she would have claimed when she lost her job or cancelled when she was unemployed, working part time or at college as the insurance was useless during this time. It took nearly 2 months and a lot of pushing with the bank but this morning she had the full amount of the insurance for the duration of the loan deposited in her account. :T

Have faith people - Martin speaks the truth :money:

Lindawh

Can anyone tell me the next step please I wrote to GE Money trading as First National Bank to reclaim PPI, they advised me that I could not claim my PPI back. I then wrote to the FOS (Financial Ombudsman Services) complaining about GE Money. They wrote back to me advising that the complaint was on 30th April 2004 and on 14th January 2005 as a result of legislation the FSO became responsible for looking into complaints against former members GISC about events that occured while the firm was a member of GISC. AS GE Money Home finance trading as First National did not have membership of GISC at the time the advice was given they (FOS) are unable to consider my complaint the loan protection payment amounted to 1791.30 - where do I go from here or is this the end of the road.

:mad:

smitchy73

Had final reply back from Clydesdale Bank advising that complaint not been upheld, not surprisingly.
So I guess it's off to the FOS to get dealt with now, here's for a long summer.
Hope they get h**ped in the Courts for the Bank Charges!!

laidler2101

• What were you reclaiming:Loan
• Who was the provider Alliance & Leicester
  
• How much did you get back:£478.46
• Did you get it back after a letter or did you go to the Financial Ombudsman: 1ST letter
• And then write your brief reclaim tale

SENT 1ST LETTER TOLD THEM THE SALES PERSON WAS PUSHY ,THEY TOLD ME I DID NOT SPEAK TO ANY ONE I DID IT ON LINE THEN I REMEMBERED THAT I DID . SO THEY OFFERED ME £479.46 ANYWAY SO I TOOK IT :beer:

madmich666

I reclaimed PPI from Lloyds and they wrote back to me several times saying that I would not be repaid the PPI. They also told me to write to the Ombudsman because they had taken so long. I didnt but wrote back to lloyds saying that I wanted a copy of the signed form asking for PPI. They couldnt provide this so they gave me a refund of £370 plus interest of £140 which has mad me very happy indeed as I was then able to clear some of my debts

NV187

After months of running around, I have been told by Barclays that they will be making a full refund of the insurance premiums together with the associated interest paid on it till date, but it will go towards reducing the current loan amount I owe them.

Can I insist on having the money paid to me by cash/cheque? Surely as I've been deprived of money that's mine, it should be upto me what I do with it. It's a single premium policy by the way if that makes any difference.

Any help would be greatly appreciated.

hatatfatcat

I wrote a letter to Alliance and leicester claiming the ppi on my loan that I didn't want, but was told I had to have, and within 4 weeks I recieved an offer of a full refund without the interest. I've accepted this and I'm now waiting for my cheque.

Thanks for the great info.

Mark

gt568

NV187 wrote: »

After months of running around, I have been told by Barclays that they will be making a full refund of the insurance premiums together with the associated interest paid on it till date, but it will go towards reducing the current loan amount I owe them.

Can I insist on having the money paid to me by cash/cheque? Surely as I've been deprived of money that's mine, it should be upto me what I do with it. It's a single premium policy by the way if that makes any difference.

Any help would be greatly appreciated.

You can insist on it in a cheque. NW tried this with me, but I insisted on the dosh being paid to me.

mmcgill

After calling alliance & leicester with regard to my ppi

i received a lttr saying they would look into it.

i have now received a letter today stating that they will repay my £555.93 that i have paid and will cancel the ppi from the remainder of my loan

all in all the total amounts to £988.32.

really looking forward to receiving that big fat cheque.

many thanks to everybody.

with the site i have now gotten cheaper car insurance cheaper mortgage and now money back on my ppi on my loan