PPI Reclaiming successes and failures

juliedawn_2

At last ,i'm going to get a cheque.After emailing the MD a lady phoned and said that the original rebate of £1,500 will come off the loan but the enhanced bit of £4,100 will be sent as cheque.Hooray at last.As well as getting the letter today telling me of a 1.1 % decrease in interest rates,i'm very happy.:beer:

Laini

juliedawn wrote: »

At last ,i'm going to get a cheque.After emailing the MD a lady phoned and said that the original rebate of £1,500 will come off the loan but the enhanced bit of £4,100 will be sent as cheque.Hooray at last.As well as getting the letter today telling me of a 1.1 % decrease in interest rates,i'm very happy.:beer:

Fab news!!- its so good to hear its worth it to keep going.

Please may I have the MDs email address in a PM if possible as it seems its the only way you get a result at the moment it would really be helpful, we are waiting for FOS to sort it and also waiting for disc with phone calls on.
I would be most grateful if you could give me an idea how you worded your email to the MD.

kindest regards

Laini xxx:beer:

Laini

Debbie2K7 wrote: »

What were you reclaiming: PPI
Who was the provider: First Plus
How much did you get back: £1826.12
Did you get it back after a letter or did you go to the Financial Ombudsman: FO
Received a cheque today for the above amount, sent off 1st & 2nd letter to FP, NOT INTERESTED! Sent 1 letter to FO just before Xmas, after 2 letters and a phone call from them i received cheque today. They've refunded the PPI i've paid over the last 14 months, cancelled the PPI & recalculated my payments..........£130 better off a month!

Thanks Martin & everyone for your advice.........don't give up!!:money: :beer: :T :easter_os :j

fab news

I am still living in hope.
we have settled our loan with them jan 2008 but did state when we settled it we would be persuing it still -has anyone got a refund after they settled?

well done again

Laini xxx:j

Jumps

What were you reclaiming: PPI
Who was the provider: LloydsTSB
How much did you get back: £3865
Did you get it back after a letter or did you go to the Financial Ombudsman: 2 Letters to LloydsTSB and 1 letter to FOS.:T :T

Pumpkin_bear

• What were you reclaiming: PPI
• Who was the provider: NatWest
• How much did you get back: Don't know yet (approx £1600)
  
• Did you get it back after a letter or did you go to the Financial Ombudsman: 4 letters then the Ombudsman

Well, it's been 6 months since I first started trying to reclaim back my PPI from Natwest and today, I received my letter saying that I've won. The potted history is here http://forums.moneysavingexpert.com/showthread.html?t=756253

I honestly believe that the FSA's website (not to mention my brother!) helped enormously. In my final letter to Natwest, I wrote to them outlining 4 out of the 6 points of the FSA's 'Treating Customers Fairly' policy that they had broken. (Link to the FSA's TCF policy http://www.fsa.gov.uk/Pages/Doing/Regulated/tcf/index.shtml) Here are a few extracts from my final letter to Natwest and how they breached the FSA's TCF guidelines - hopefully others will be able to make use of it...

"I would like to take this opportunity to draw your attention to the Financial Service Authority’s “Treating customers fairly” (TCF) policy. The principles of this policy state:

• Consumers are provided with clear information and are kept appropriately informed before, during and after the point of sale;
• Where consumers receive advice, the advice is suitable and takes account of their circumstances;

This has clearly not been the case. By your own admission as per the letter dated 17 October 2007 “…when you took out the Insurance a full copy of the terms and conditions would have been sent to you and it is the customer’s responsibility to ensure that they read and understand these.” The fact is that the information that I was given before agreeing to take out the insurance was incomplete; it was not until the January of 2006 that I was informed by your advice centre that I needed a Jobseeker’s agreement, something that should have been made clear at point of sale, as per the FSA’s TCF principles. Furthermore, when telephoning to make a claim in January 2006, the advisor told me that this policy is not suitable for what I require, yet they did not tell me that I was able to cancel it. Again, withholding such information is not in line with the FSA’s TCF principles.

• Consumers are provided with products that perform as firms have led them to expect, and the associated service is both of an acceptable standard and as they have been led to expect;

This has not been the case with the PPI that was offered to me. I was led to believe that I could make a claim in the event of work lapsing through no fault of my own. In conjunction with the two principles above, because I was not given adequate information (even though the advisor checked the terms and conditions herself), I was not given enough information and hence was sold a policy that I was led to believe covered aspects that it in fact did not.

• Consumers do not face unreasonable post-sale barriers imposed by firms to change product, switch provider, submit a claim or make a complaint.

I have received appalling responses to the problems that I have experienced with the PPI on my loan. From the first time that something went wrong in January 2006 right through to dealing with yourself, I have been met with excuses and blame instead of answers and resolutions. The fact that you place the responsibility on me to dissect and understand the terms and conditions of a policy when even the staff who work at the Insurance Service centre cannot adequately explain them to me shows how complex these terms and conditions are; and I only realise the stipulations that are put into place when I attempt to make a claim. I have experienced extremely unreasonable post-sales barriers; I should have been informed in January 2006 by the advisor when I attempted to make a claim that, since the policy was not suitable (her own admission) that I could cancel the policy. It was only after seeking independent financial advice in September 2007 that I discovered that I could. And since that incident, I have been met with more barriers both by yourself and ****** *****, ******** branch manager, by refusing to admit that I received anything other than clear and correct advice at the point of sale of the PPI on my loan: “…I do not believe the policy was mis-sold and I cannot agree to refund the premiums you have paid.”

• Consumers can be confident that they are dealing with firms where the fair treatment of customers is central to the corporate culture;
• Products and services marketed and sold in the retail market are designed to meet the needs of identified consumer groups and are targeted accordingly;

You have clearly shown through verbal and written correspondence that the customer is anything but the centre of your corporate ethos. The product sold to me did not meet my needs, yet I was told that it would; and when I was informed that it was not suitable, I was neither offered an alternative nor was I informed that I could cancel the one that I had. I am extremely disappointed with the way in which my complaint has been handled."

I've removed the name and branch of the Natwest that I was dealing with to maintain confidentiality. I'm just awaiting my money now, and am gonna treat my brother big time - without him, I'd have never found this info. So please please make use of it if you can and pass it on!!

vodkafreak

Laini wrote: »

fab news

I am still living in hope.
we have settled our loan with them jan 2008 but did state when we settled it we would be persuing it still -has anyone got a refund after they settled?

well done again

Laini xxx:j

Hi, i settled my loan with firstplus back in 2005 - sent my 1st letter of complaint in oct 2007 after reading about ppi misselling on this wonderful, marvelous, fantastic site!!!(no, he hasn't paid me!;) ) & after a bit of determination i received an enhanced rebate of just over £5,000!
It's entirely up to you wether to go for a full refund on the misselling aspect or an enhanced rebate on the FSA ruling on unfair rebates.
You are still entitled to fight for your money even though you have paid the loan in full. Good luck & don't give up!!

Laini

vodkafreak wrote: »

Hi, i settled my loan with firstplus back in 2005 - sent my 1st letter of complaint in oct 2007 after reading about ppi misselling on this wonderful, marvelous, fantastic site!!!(no, he hasn't paid me!;) ) & after a bit of determination i received an enhanced rebate of just over £5,000!
It's entirely up to you wether to go for a full refund on the misselling aspect or an enhanced rebate on the FSA ruling on unfair rebates.
You are still entitled to fight for your money even though you have paid the loan in full. Good luck & don't give up!!

Thank you!!
I now have the MD s email address so will be sending him a long message
if this site didnt exsist I would not even have sent the first letter so I can only try.

thanks again
I will post any outcome.- feeling more hopeful!

Laini xxx;)

slaphead44

• What were you reclaiming:PPI
  
• Who was the provider: Northern Rock
  
• How much did you get back £816.00
  
• Did you get it back after a letter or did you go to the Financial Ombudsman: After a letter

After reading about PPI on money saving expert sent a letter to Northern Rock,they sent me a form to fill in which i sent back,they said i would get a decision within eight weeks,after six weeks had a reply telling me they had mis sold me the insurance and would refund me £816.00 plus £66.03 interest (8%) which is what i asked for what a result thank you martin.
Ps i would just like to add that the dealings i have had with Northern Rock over the years have been very good and i still think they are wonderful. Scotty :T

wychwood27

Having trouble with reclaiming PPI I have 2 loans with Barclays. Sent off template letter to address on loan agreement. It's an address in dublin, have I sent letter to right place or should it have gone to my own bank address or somewhere else, as I have had no reply yet(6wks).

howardtog

Unemployment Insurance with Halifax.
Just under £1000
8 years ago was 'sold' this with a remortgage. At the time it was presented as part of the package.Halifax staff said it would operate even though I worked abroad.
Sent template letter and Halifax about six weeks later denied any misselling but 'as the proposal and employers reference made clear I was working abroad and expected to continue to do clearly the policy could never operate ---as you had to work in the UK.
They offered a full refund plus interest!
Not sure how they can deny misselling but assume they do not want to set precedents .
Thanks MSE....One letter= complete success