PPI Reclaiming successes and failures

di3004

radug612 wrote: »

Claimed for: Loans
Who From: Alliance & Leicester
Amount Received (so far) £8000!!

I had 3 loans taken out in 1997, 1999 and 2001 for various amounts, the largest being £20,000. I only had full details of the middle loan, but claimed for all three on the basis that I would have been forced to take the PPI. About 10 weeks later I received a letter offering £2350 for that one (which ran for 2 years) and today I was told that I would be offered £5650 for the 3rd loan (which ran for 4 years). The original loan (which I can't remember the value or terms of) is still under investigation.

All I used was the template which Martin provided and removed a couple of the points which weren't relevant and there was no argument from Alliance & Leicester at all.

I thought that the age of the loans would stop me from receiving compensation, but apparently not - so if you took out a loan even 10 years ago, get claiming!

Thanks very much for the site Martin & team - keep up the good work :T

WOW, this is fantastic, Congratulations.
:beer::T:beer:

di3004

cazzino wrote: »

I took out a loan with barclaycard last year and was pressured into taking PPI. After taking out the loan I tried to cancel the PPI but was told by barclaycard that this was not an option. I put in a complaint back in November last year and this is still ongoing, the last correspondance I recieved was March 18th this year, and that was a final response. I was told I would recieve a refund and a new loan would be set up to replace the exsisting loan, but guess what I am still waiting. Their communication is terrible, I have contacted the Financial Ombudsman, but am at a loss is their any other legal route I can go down, PLEASE HELP!!!!!!

Hello there
Blimey they have taken their time haven't they?

Personally if this were me I would keep it going with the FOS, this way it will save you money.
I would let the business know that you have also made contact with the FOS, maybe they will sort this out quicker for you.
Good luck with this and please keep us posted.;)

mlucyminx

hi everyone.

Congratulations to everyone who has been successful with their claims and good luck to everyone still waiting.

I just wanted to fill you in on my news against the dreaded OCEAN FINANCE.

wrote to them in april 2008 and got the usual get lost letter from them. wrote to FOS in may/june 2008and played the waiting game sending them e-mails every month to start off with then every two weeks until about a month ago I received a telephone call from a very nice man who was my adjudictor. he asked me a few questions regarding my case and last monday I received a letter from him saying that he was upholding my claim as vital information was never made clear to me regarding the consequences of front loaded ppi. ie the penalties if I cancelled and having to pay up the total value of the loan if I wanted to cancel.

Anyway the upshot was he worked out that the ppi charge was £2314.00 plus £1881.51 (total £4195.51) He has ruled that as I paid the loan up early - I took the loan out in May 2005 then re-mortgaged to pay it off in July 2007 - Ocean Finance should:

(A) Calculate and pay the consumer:
- the amount which was actually required to the loan with PPI (including any interest and charges) net of any PPI premium refund;
less the amount the consumer would have pain to settle the loan if they had taken it without PPI; plus interest on the difference at the rate of 8% per year simple from the date the loan was settled to the date the compensation is paid

(B) calculate, and pay the consumer the amount of the net payments the consumer made up to the time of settlement in respect of the PPI (including any interest and charges) by comparing:
- the payments actually made;
-the payments which would have applied if the consumer had taken the loam without PPi; and
-add interest on each of these net payment at the rate of 8% per year simple from the date of each pyment to the date the compenstaion is paid; and

(C) set out in writing for the consumer the details of the calculatins under (A) and (B)

He also reccomended a compensation payment of £200 for the stress and inconvenience caused by ocean finance.

He gave Ocean finance til 30th July to reply to him either agreeing or giving new reasons for objecting.

So while I don't exactly know how much I will get (I'm no math expert) or when I will get it as it may end up going to the ombudsman yet. At least its good news in a way.

And also as I thought Ocean had sold me another smaller loan a few months after the original I had put both on one. It turned out it wasn't ocean but the people who actually provided the money who had contacted me direct the adjudicator agreed to put that claim back through the system. He said he didnt know how long it would take to get dealt with but it would still get looked at.

Sorry I went on for so long but it has been a very long wait.

Will post again when I have more news (and i promise it will be a much shorter one)

A big thank you to everyone on here for encouragement and advice

xxxx

pinknico

Well done mlucyminx, hope it is all straightforward for you know and Ocean pay up without the need of the Ombudsman.

cot1198

mlucyminx wrote: »

hi everyone.

Congratulations to everyone who has been successful with their claims and good luck to everyone still waiting.

I just wanted to fill you in on my news against the dreaded OCEAN FINANCE.

wrote to them in april 2008 and got the usual get lost letter from them. wrote to FOS in may/june 2008and played the waiting game sending them e-mails every month to start off with then every two weeks until about a month ago I received a telephone call from a very nice man who was my adjudictor. he asked me a few questions regarding my case and last monday I received a letter from him saying that he was upholding my claim as vital information was never made clear to me regarding the consequences of front loaded ppi. ie the penalties if I cancelled and having to pay up the total value of the loan if I wanted to cancel.

Anyway the upshot was he worked out that the ppi charge was £2314.00 plus £1881.51 (total £4195.51) He has ruled that as I paid the loan up early - I took the loan out in May 2005 then re-mortgaged to pay it off in July 2007 -


Well done mlucyminx, that is good news, and very interesting for me as I have two complaints with FOS about Ocean, they are looking at them as one complaint as one loan was used to pay off the other. Not long now I hope

di3004

mlucyminx wrote: »

hi everyone.

Congratulations to everyone who has been successful with their claims and good luck to everyone still waiting.

I just wanted to fill you in on my news against the dreaded OCEAN FINANCE.

wrote to them in april 2008 and got the usual get lost letter from them. wrote to FOS in may/june 2008and played the waiting game sending them e-mails every month to start off with then every two weeks until about a month ago I received a telephone call from a very nice man who was my adjudictor. he asked me a few questions regarding my case and last monday I received a letter from him saying that he was upholding my claim as vital information was never made clear to me regarding the consequences of front loaded ppi. ie the penalties if I cancelled and having to pay up the total value of the loan if I wanted to cancel.

Anyway the upshot was he worked out that the ppi charge was £2314.00 plus £1881.51 (total £4195.51) He has ruled that as I paid the loan up early - I took the loan out in May 2005 then re-mortgaged to pay it off in July 2007 - Ocean Finance should:

(A) Calculate and pay the consumer:
- the amount which was actually required to the loan with PPI (including any interest and charges) net of any PPI premium refund;
less the amount the consumer would have pain to settle the loan if they had taken it without PPI; plus interest on the difference at the rate of 8% per year simple from the date the loan was settled to the date the compensation is paid

(B) calculate, and pay the consumer the amount of the net payments the consumer made up to the time of settlement in respect of the PPI (including any interest and charges) by comparing:
- the payments actually made;
-the payments which would have applied if the consumer had taken the loam without PPi; and
-add interest on each of these net payment at the rate of 8% per year simple from the date of each pyment to the date the compenstaion is paid; and

(C) set out in writing for the consumer the details of the calculatins under (A) and (B)

He also reccomended a compensation payment of £200 for the stress and inconvenience caused by ocean finance.

He gave Ocean finance til 30th July to reply to him either agreeing or giving new reasons for objecting.

So while I don't exactly know how much I will get (I'm no math expert) or when I will get it as it may end up going to the ombudsman yet. At least its good news in a way.

And also as I thought Ocean had sold me another smaller loan a few months after the original I had put both on one. It turned out it wasn't ocean but the people who actually provided the money who had contacted me direct the adjudicator agreed to put that claim back through the system. He said he didnt know how long it would take to get dealt with but it would still get looked at.

Sorry I went on for so long but it has been a very long wait.

Will post again when I have more news (and i promise it will be a much shorter one)

A big thank you to everyone on here for encouragement and advice

xxxx

Wow, well done to you hunni.:j
:beer::T:beer:

di3004

cot1198 wrote: »

mlucyminx wrote: »

hi everyone.

Congratulations to everyone who has been successful with their claims and good luck to everyone still waiting.

I just wanted to fill you in on my news against the dreaded OCEAN FINANCE.

wrote to them in april 2008 and got the usual get lost letter from them. wrote to FOS in may/june 2008and played the waiting game sending them e-mails every month to start off with then every two weeks until about a month ago I received a telephone call from a very nice man who was my adjudictor. he asked me a few questions regarding my case and last monday I received a letter from him saying that he was upholding my claim as vital information was never made clear to me regarding the consequences of front loaded ppi. ie the penalties if I cancelled and having to pay up the total value of the loan if I wanted to cancel.

Anyway the upshot was he worked out that the ppi charge was £2314.00 plus £1881.51 (total £4195.51) He has ruled that as I paid the loan up early - I took the loan out in May 2005 then re-mortgaged to pay it off in July 2007 -


Well done mlucyminx, that is good news, and very interesting for me as I have two complaints with FOS about Ocean, they are looking at them as one complaint as one loan was used to pay off the other. Not long now I hope

Wonderful news hun, so happy for you.
Congratulations.
:beer::T:beer:

amersall

hi all, a lady i work with put a claim in with bos for ppi mis sell, she allready had cancelled the insurance and settled with the company last december,(this was the rebate for the ppi.) then i told her about mis sell ppi and i had heard martin lewis on gmtv, we were not sure if she had a case but they were two seperate claims for different things, so she put a claim in for mis sell and was told by bos to get lost. so she went to fos and hey presto she got a letter yesterday from fos, the mis sell was upheld she will get £9000 back, now she owes me big time!!!! thanks to you all as if it were not for this site i certainly would be in the dark THANK YOU, THANK YOU so much.

amersall

:beer::beer::beer::beer:well done to all winners so far this week:j:j:j:money::money::money:and my mate linda:p:p

pinknico

Well done amersalls mate linda!!