PPI Reclaiming successes and failures

shakattack

Good Morning All,

I have recently (on 7th July) ssent my ppi reclaim for my HSBC loan, after reading some of the success stories on this forum, thought I'd give it a go, When I applied for the load in december 2004 I already had an existing loan for approx 4900 and I needed £10k more for a wedding. I did a web chat with the HSBC person who gave the whole quote and at no point in the web chat did he mention that the ppi was an optional payment and it was made that it was compulsory.

The total loan amount came to £14,900, but the amount that was drawn down in my account to repay was approx £21,400, so just over £6k for the ppi! My monthly repayment are £365.29 and I only have 5 repayments to go.

My question to the various forum members is what are HSBC likely to do with my ppi claim that I have only 5 repayments left to make? Will they just write the balance off? or repay me the whole ppi amount plus 8% interest? So that when I do eventually recieve correspondence from HSBC I know what to reply back to them with.

Anyone who has had HSBC success please get back to me

Many thanks apologies for the long winded message!

Sam

di3004

funkyc27 wrote: »

:pHello hope you are all well this lovely rainy morning!!
I obtained my statements from Barclaycard x2 and Egg and have the following to claim back :
Barclaycard PPI - £85.48
Barclaycard PPI - £33.52
Egg Overlimit charges - £73

Not a lot of money but it will buy them lovely curtains i have my eye on!!

Have also contacted fsca re. an update on Picture- as you can tell me is rather impatient!!
have fun today!:p

Hiya Funky

Well done to you and yes every penny helps, congratulations.
:beer::T:beer:

di3004

GM7 wrote: »

Good Morning Everyone - I just thought I would post my success in reclaiming my PPI payments:

• What were you reclaiming: Loan
• Who was the provider: Egg
• How much did you get back: £3690.00

I sent egg a letter on 13th July 2009 using Martins templates on this site. 3 days later I got a reply from egg offering to refund all premiums including the interest!

I am absolutely delighted with the speed and efficiency of Eggs complaint handling department!! :j and thanks to this forum for the letter template! :j wooooo

Wow, brilliant, congratulations.
:beer::T:T

thefool

I wrote to Egg about a month ago using the PPI template letter from this site. Got a response about a week later telling me that they would investigate my complaint. Last week I got a letter from Egg refunding almost £8K :eek: in PPI payments and interest. I was amazed at how quickly they dealt with my claim. Thanks to this website and the hard work that get put into it, I've just taken about 8 months of my DMP :beer:

di3004

anthoz wrote: »

I sent my claim to egg loans on 9th july registered post.
I have the proof it was signed for on the 10th but since then I have not received anything.
any ideas?
Thanks

Hi there

They have 8 weeks to respond in full, some take a while before they even acknowledge, hope you hear soon with some good news, good luck.

di3004

thefool wrote: »

I wrote to Egg about a month ago using the PPI template letter from this site. Got a response about a week later telling me that they would investigate my complaint. Last week I got a letter from Egg refunding almost £8K :eek: in PPI payments and interest. I was amazed at how quickly they dealt with my claim. Thanks to this website and the hard work that get put into it, I've just taken about 8 months of my DMP :beer:

Wow fantastic, what a result, so pleased for you.:beer::T:beer::jCongratulations.

kittyfluff

I cant stress enough how easy it is to reclaim PPI insurance if you believe that you have been unfairly sold it. I downloaded the template letter, and filled it in which took me and hour.Posted it via recorded post..waited for about two weeks.Then I had to fill in an internal complaints form and send it back to Northern Rock.
I have just received a letter this morning telling me that we will be receving £1500 plus 8% compound interest back!All for the price of two letters! No Ombudsman and over in about a month.

queeniedog

Amount offered £1216.84
Refund of all premiums, statutory interest at 8% plus compensation interest payment calculated at 8% per annum.

RESULT!!! :beer:

I originally complained in March 2008, however my claim was not upheld at the time as I took the loan out during 2004 when Black Horse were not covered by the FOS. So felt at the time there was nothing I could do without FOS intervention.

After reading successes recently on the MSE forums I thought I would write to them again following up on this complaint as I still maintain I was mis-sold as it was a condition of the loan that I took out the PPI insurance. Sent letter on the 18th of June saying I remained dissatisfied and today received their final offer of settlement - Yipppeeeee! :T

Thank you to Martin, and all the helpful posters on this Forum that have kept me inspired to get back what is mine xxx

amersall

shakattack wrote: »

Good Morning All,

I have recently (on 7th July) ssent my ppi reclaim for my HSBC loan, after reading some of the success stories on this forum, thought I'd give it a go, When I applied for the load in december 2004 I already had an existing loan for approx 4900 and I needed £10k more for a wedding. I did a web chat with the HSBC person who gave the whole quote and at no point in the web chat did he mention that the ppi was an optional payment and it was made that it was compulsory.

The total loan amount came to £14,900, but the amount that was drawn down in my account to repay was approx £21,400, so just over £6k for the ppi! My monthly repayment are £365.29 and I only have 5 repayments to go.

My question to the various forum members is what are HSBC likely to do with my ppi claim that I have only 5 repayments left to make? Will they just write the balance off? or repay me the whole ppi amount plus 8% interest? So that when I do eventually recieve correspondence from HSBC I know what to reply back to them with.

Anyone who has had HSBC success please get back to me

Many thanks apologies for the long winded message!

Sam

if you go for mis sell, they have to pay you back all the ppi amount and the ppi payments you have made to date, plus 8% interest., this is your money and you want it back. it does not matter you only have 5 months left, you were still mis sold, the same goes for a loan that was repaid as well, they will clear your loan if you win, (but it could be paid by you before your claim is sorted)but you will get all the ppi back plus interest, good luck with this and keep us posted, some on e may come and who has had dealings with this bank and will be able to help you better than i can

selecta_c

Just had a letter from the ombudsman saying they have ruled in my favour against Welcome Finance miselling me PPI,and that Welcome will be in touch with me directly to compensate me.Am well chuffed,its taken nearly a year but is well worth it.