PPI Reclaiming successes and failures

di3004

shakattack wrote: »

hi there,
Hi Shakattack

wow congrats on your amazing success, im in the process on reclaiming my ppi from hsbc sent first letter off last week and got a response saying that they will get back to me in 4 weeks.
Good luck with your reclaim.

may i ask how much the loan amount was for that you took out?

how long did the ppi reclaim process take for you?

and do they refund straight into the loan account or do they send a cheque?
Hopefully the poster will post back and give you some answers on what you asked in regards of this company, but every company vary from one to another, some will pay towards the loan repayment, and if anything remaining it would be refunded back directly to you by cheque, but there are many ways, some pay the full amount directly back to you, if there are no outstanding arrears/missed payments etc.

many apologies for the long email would be great to know as i'm a little nervous of the result i may get lol

many thanks
Shak

Keep at them, and please keep us updated, that will be cool, cheers and fingers crossed for you.;)

di3004

lalamb77 wrote: »

My friend has just had her claim upheld by the FOS for a loan she took out last year that had PPI sold with it. She had at first refused the PPI - but when the paperwork came through the PPI had been included. When she signed the paperwork she did not sign the PPI part - for obvious reasons.

She was contacted by Barclays and told there were problems with the paperwork as she had not signed the PPI part - when she said she didn't want it, she was told new paperwork would need to be sent out and this would cause a delay to her loan. Alternatively, she was told she could take out the insurance and, if she didn't make a claim, the premiums would be repaid at the end of the first 5 years. What she was not told was that this would cost her £2.5k in interest that she would not get back because it was a single upfront premium.

She took out the loan because she needed the money asap and because she thought she would get it all back after 5 years, that is until I pointed out the true cost.

Well atfirst Barclays offered her a reduced settlement which would still leave her about £2.5k out of pocket and so she took it to the F.O.S. Six months later they have upheld her claim and told Barclays to put her back to the same state she would have been in had she not taken out the PPI.

And... wait for it... have told Barclays to pay her £500 in compensation!! :j

So THANK-YOU all so much - she really needs the money and thanks to MSE and you all - she is much better off!!

Fantastic, Congratulations to your mate, well done.
:beer::T:beer:

amersall

lalamb77 wrote: »

My friend has just had her claim upheld by the FOS for a loan she took out last year that had PPI sold with it. She had at first refused the PPI - but when the paperwork came through the PPI had been included. When she signed the paperwork she did not sign the PPI part - for obvious reasons.

She was contacted by Barclays and told there were problems with the paperwork as she had not signed the PPI part - when she said she didn't want it, she was told new paperwork would need to be sent out and this would cause a delay to her loan. Alternatively, she was told she could take out the insurance and, if she didn't make a claim, the premiums would be repaid at the end of the first 5 years. What she was not told was that this would cost her £2.5k in interest that she would not get back because it was a single upfront premium.

She took out the loan because she needed the money asap and because she thought she would get it all back after 5 years, that is until I pointed out the true cost.

Well atfirst Barclays offered her a reduced settlement which would still leave her about £2.5k out of pocket and so she took it to the F.O.S. Six months later they have upheld her claim and told Barclays to put her back to the same state she would have been in had she not taken out the PPI.

And... wait for it... have told Barclays to pay her £500 in compensation!! :j

So THANK-YOU all so much - she really needs the money and thanks to MSE and you all - she is much better off!!

:beer::beer::beer::beer: ab fab, well done:T:T another first crap win good for you:j:j:j:j

mitzybudgie

I took out a loan five years ago for £4,000. I signed up for PPI, but did not realise that I was being ripped off. I had just finished paying off the loan, when I saw Martin on GMTV and decided to download his template letters.

I sent the first letter to Alliance & Leicester, stating that I thought that as the FSA had already found them guilty of mis-selling PPI, that I had a fair claim to get my money back plus interest. I got a very polite reply, saying that they would look into it. I waited and then, two weeks later got another letter stating that they had not had time to fully investigate, but would contact me again soon. It was three weeks after that and I was thinking of sending template no. 2, when this morning a letter arrived from them, stating that they were paying me £957 back for mis-sold PPI plus interest of £202!

I put hardly any effort in, and am being rewarded without any fight from them. I encourage anyone, no matter whether you think you'll win or not, to go for it. As my mother used to say, "If you don't ask, you don't get"

So, Thanks Martin !!! I'm :j for joy...

Nicola56

Hi all

Just looking for some advice from those who have successfully claimed PPI from Lloyds TSB.

About 10 weeks ago I got a letter from FSO saying that Lloyds had accepted my claim for 5 refinanced loans, plus interest plus £200 compensation and that they would need 12 weeks to sort this out.

Do Lloyds leave it for the full 12 weeks? Do they then write to you saying how much they are going to pay you and then pay within 21 days or do you just get the money?

I don't really care how long it takes to get the money, I just need to know how much they are going to pay out.

Any help would be much appreciated.

Thanks

di3004

mitzybudgie wrote: »

I took out a loan five years ago for £4,000. I signed up for PPI, but did not realise that I was being ripped off. I had just finished paying off the loan, when I saw Martin on GMTV and decided to download his template letters.

I sent the first letter to Alliance & Leicester, stating that I thought that as the FSA had already found them guilty of mis-selling PPI, that I had a fair claim to get my money back plus interest. I got a very polite reply, saying that they would look into it. I waited and then, two weeks later got another letter stating that they had not had time to fully investigate, but would contact me again soon. It was three weeks after that and I was thinking of sending template no. 2, when this morning a letter arrived from them, stating that they were paying me £957 back for mis-sold PPI plus interest of £202!

I put hardly any effort in, and am being rewarded without any fight from them. I encourage anyone, no matter whether you think you'll win or not, to go for it. As my mother used to say, "If you don't ask, you don't get"

So, Thanks Martin !!! I'm :j for joy...

Hello there

And your right, if you don't ask you don't get :T.

Well done and Congratulations.
:T:beer::T

di3004

Nicola56 wrote: »

Hi all
Hi Nicola;)

Just looking for some advice from those who have successfully claimed PPI from Lloyds TSB.
Both my and my hubby were successful claiming from Lloyds, resolved through the FOS.

About 10 weeks ago I got a letter from FSO saying that Lloyds had accepted my claim for 5 refinanced loans, plus interest plus £200 compensation and that they would need 12 weeks to sort this out.
I think this may vary, we were not actually then given a timescale, but since our success I think they have stacks of them, a backlog then, so now it seems they are giving a timescale on paying out, well done though.....:beer:

Do Lloyds leave it for the full 12 weeks? Do they then write to you saying how much they are going to pay you and then pay within 21 days or do you just get the money?
We did receive a letter from Lloyds TSB about a week or 2 before they paid out even though they said it could be a month before receiving it, again it seems like they have given a longer timescale now.

I don't really care how long it takes to get the money, I just need to know how much they are going to pay out.
I'm sure if you ask thhe FOS they will be able to find out for you, we did this and within a day they emailed with the details.
Any help would be much appreciated.

Thanks

Good lucki Nicola, hope you receive your money a lot sooner than 12 weeks, I know it will be nice to know to ease your mind, so contact the FOS on the calculations/figures.;)

traz39

anyone know how long it taking fos on welcome finance i heard they are getting through them quicker now

di3004

traz39 wrote: »

anyone know how long it taking fos on welcome finance i heard they are getting through them quicker now

Hi traz39

It seems that WF are suddenly paying out, if you have one with the FOS, it may be worth your while contacting them to see what is what.;)Good luck X

traz39

ok di thanks i dont think they will b around much longer