PPI Reclaiming successes and failures

di3004

Lee5 wrote: »

After reading this website, we rang Alliance & Leicester due to being mis-sold PPI on two loans we had with them, both loans are for 6k over 4 years, we were told they would look into our claim and get back to us within 3-4 weeks.

We have just heard back from them about one loan, only taken 2-3 weeks and they have offered us a refund of £802, we are happy to accept this amount and would like to say without this website we wouldnt have known where to start so thank you very much.

Now just waiting to hear about my other loan.

Lee

Hello, and Welcome Lee, fab news, Congratulations.:beer::T:beer:
And good luck with your other reclaim.;)

Di

di3004

bathgatebuyer wrote: »

What were you reclaiming: Credit Card PPI
Who was the provider: Sainsburys Bank Plc
How much did you get back: All premiums plus contract interest plus 8% interest
Did you get it back after a letter or did you go to the Financial Ombudsman: FOS and a long wait!

Most importantly, this has since been agreed shortly after the FOS told me that my complaint was outwith their timescales for considering complaints. So, if you're unsuccessful but believe yourself to be right, persist and ensure that you make your complaint!

I've done my calculations and know what they owe me to correct this error, but £800 in premiums from 2002, plus contractual interest of 19% and 8% statutory interest is a tidy enough sum.

I'm so relieved this is almost over. It has taken so long - throughout the dispute, Sainsburys continued to pursue me for me, despite the ongoing dispute that I had with them. I sought advice from Tradings Standards (who knew less about consumer legislation than I did!), and clarification from the FSA on points of law. In the end, I felt reasonably confident that I had the paperwork to back up my case, and it just needed a breakthrough from the other side. The continued pursuance of monies by Sainsburys while they had failed to respond to my letters advising of their being a dispute, caused untold stress. Thankfully it is all over now - ALMOST!

My forms have been signed, returned and I await contact from Sainsburys advising me of the sum they believe they owe me. Hopefully it's reflective of my figures.

Great work Bathgatebuyer, Well done to you.:j:j
:beer::T:beer:

skintmumofone

hi my hubby received a letter from BH tonight offering a goodwill gesture of £886.08 made up as follows:-

Total amount paid in respect of PPI incl interest £703.83
Total of statutory interest calculated at 8% £182.25
Total Refund due £886.08.

My question is this, I have looked at the agreement this was taken out in November 2005 and paid off in July 2006, the initial loan was for £5000 PPI was £1629.22 plud charges of £1030.00 + £335.78. I started paying this on 1st January 2006 and probably paid it for 7 months, the total amount we paid off for our settlement was £6300 in total - do you think the sum they are offering is fair? Or do I go back to the FOS and try and squeeze more from them? Again they are not admitting liability however want to offer a goodwill gesture?

pinknico

It depends whether they gave you a rebate on the PPI on settlement of the loan.

skintmumofone

pinknico wrote: »

It depends whether they gave you a rebate on the PPI on settlement of the loan.

As far as I know yes they did give me a rebate on the original loan so I think the amount they have quoted on their letter is actually more than I thought?

Footiemad_2

What were you reclaiming: Unknown amount
Who was the provider: A & L
How much did you get back: £1,385.83
Did you get it back after a letter or did you go to the Financial Ombudsman: Did not have to go that far.

Here's the story

Wrote the to A & L using the first template letter stating that I had be mis sold. I applied by phone and even though it was 4 plus years ago 2005, I distinctly remember stating that I didnot require insurance and I was given a quote of the repayments some where in the region of £120.
When the details came back my repayments were for £151. I didn't think this was correct but because I thought I was paying a higher interest rate, I didnot complain and I had a few things going on so I never got around to querying it.

Anyway I posted my letter on 10th August recorded of course £1.14 1st class post and I recieved a reply on 12th August from A & L stating that they would contact me at the latest within four weeks if I hadn't heard anything..

Well...YIPPEE!! On my way out to work this morning the post arrived and me being nosey decided to open my mail before leaving as there was a letter from A & L saying...

Having considered the available information, we have not been able to establish whether I was provided with sufficient details to allow me to make an informed decision when this policy was taken out so they would like to offer me £1,385.83:j
At this point I screamed!!!

Broken down:-
Refund representing payments for PPI between 1 Jan 05 to 15 Dec 08. Loan paid in full in Dec. £1,139.04

Interest on the above to 31 August 09 £246.79

A grand total of £1,385.83

Happy, Happy Days.

The interest was calculated at 8% simple! per annum consistent with the approach FSA & FOS Would take.

Needless to say I went to work with a spring in my step and a huge smile on my face:D

One down Norton Insurance to go:(

I have been reading all the successes over the past few months and been getting the MSE email for sometime but didn't delve into the forum... so glad I did and took the plunge.

Its all good and positive

Thank you to all who post their stories and those that give advice.

:rotfl::rotfl::rotfl::rotfl::j:j:j:j

di3004

skintmumofone wrote: »

hi my hubby received a letter from BH tonight offering a goodwill gesture of £886.08 made up as follows:-

Total amount paid in respect of PPI incl interest £703.83
Total of statutory interest calculated at 8% £182.25
Total Refund due £886.08.

My question is this, I have looked at the agreement this was taken out in November 2005 and paid off in July 2006, the initial loan was for £5000 PPI was £1629.22 plud charges of £1030.00 + £335.78. I started paying this on 1st January 2006 and probably paid it for 7 months, the total amount we paid off for our settlement was £6300 in total - do you think the sum they are offering is fair? Or do I go back to the FOS and try and squeeze more from them? Again they are not admitting liability however want to offer a goodwill gesture?

Hi there,
If I were you I would definately try to find out more on this if you can, you do need a full detailed written breakdown as well, so also request for this, good luck.;)

di3004

FOOTIEMAD wrote: »

What were you reclaiming: Unknown amount
Who was the provider: A & L
How much did you get back: £1,385.83
Did you get it back after a letter or did you go to the Financial Ombudsman: Did not have to go that far.

Here's the story

Wrote the to A & L using the first template letter stating that I had be mis sold. I applied by phone and even though it was 4 plus years ago 2005, I distinctly remember stating that I didnot require insurance and I was given a quote of the repayments some where in the region of £120.
When the details came back my repayments were for £151. I didn't think this was correct but because I thought I was paying a higher interest rate, I didnot complain and I had a few things going on so I never got around to querying it.

Anyway I posted my letter on 10th August recorded of course £1.14 1st class post and I recieved a reply on 12th August from A & L stating that they would contact me at the latest within four weeks if I hadn't heard anything..

Well...YIPPEE!! On my way out to work this morning the post arrived and me being nosey decided to open my mail before leaving as there was a letter from A & L saying...

Having considered the available information, we have not been able to establish whether I was provided with sufficient details to allow me to make an informed decision when this policy was taken out so they would like to offer me £1,385.83:j
At this point I screamed!!!

Broken down:-
Refund representing payments for PPI between 1 Jan 05 to 15 Dec 08. Loan paid in full in Dec. £1,139.04

Interest on the above to 31 August 09 £246.79

A grand total of £1,385.83

Happy, Happy Days.

The interest was calculated at 8% simple! per annum consistent with the approach FSA & FOS Would take.

Needless to say I went to work with a spring in my step and a huge smile on my face:D

One down Norton Insurance to go:(

I have been reading all the successes over the past few months and been getting the MSE email for sometime but didn't delve into the forum... so glad I did and took the plunge.

Its all good and positive

Thank you to all who post their stories and those that give advice.

:rotfl::rotfl::rotfl::rotfl::j:j:j:j

Well done and Congratulations.
:beer::T:beer:
Good luck with the Norton reclaim as well.;)

Footiemad_2

Thank you Di. It was the best knews I have had in a long time;)

Just got to wait for that fat cheque to arrive.

karlynda

This is kazc but it won't let me log in !!

Hi Di, Marshallka and everyone else who helped us.

At long last capital one have offered us a full refund plus interest totalling just over £7000.00 (YES!!!!)

This has taken from October last year and after refusing an offer of £4500 six weeks ago the letter came this morning.

Obviously we are dead chuffed but could not (or would not) have carried on with the claim without the invaluable help of this site especially Di and Marshallka.

Thanks to everyone and good luck with your claims.

DO NOT GIVE UP

kazc