PPI Reclaiming successes and failures

marshallka

RUSSFEE7 wrote: »

I sent the first letter 02/07/2009, they agreed policy mis-selling 05/08/2009, after a bit of 2ing and frowing I accepted the offer 12/09/2009 and received the cheque 30/09/2009! so nearly 3 months and a cost of about 8 stamps! I think thart's what they call a "BILLY BARGAIN!":j:j:j:j:j:j

Well done to you. Love a win against FP.:beer:

amersall

RUSSFEE7 wrote: »

No probs, I just hope others get it as easily as I have!:D

GOD BLESS THE FOUNDER OF THE FP COMPLAINTS WEBSITE:A:A if it wasnt for him and other valuable members fp would have got away with murder:T:T:T:T:T:T

mant_2

NatWest sold me a graduate loan but told me I would only be successful if I took out their PPI.:mad:

Reclaimed using the template letter.

No answer for several months...

Just received 'admission of guilt' letter from the bank - they have given me back £1,210!! Very pleased as I can pay almost all my remaining loan off now!!:beer:

Monthly repayments are also dropped as the total borrowed is spread over the same term.

Thank you so much money savers - you have saved me £1200!! :T:T

di3004

mant wrote: »

NatWest sold me a graduate loan but told me I would only be successful if I took out their PPI.:mad:

Reclaimed using the template letter.

No answer for several months...

Just received 'admission of guilt' letter from the bank - they have given me back £1,210!! Very pleased as I can pay almost all my remaining loan off now!!:beer:

Monthly repayments are also dropped as the total borrowed is spread over the same term.

Thank you so much money savers - you have saved me £1200!! :T:T

Hello and welcome and Congratulations.

Well done to you.
:beer::T:beer:

big_al_1981

amersall wrote: »

hi there, if i were you i would go with the mis sell. if you cancel the insurance now you will in effect have a new loan redone without the ppi and if i am correct you will get it over more years, i would keep the ppi for now and if you win your case the loan will have to be put back to the terms and length of time the original one was and at the same apr without the ppi. and you will get back all ppi payments made to date plus 8% interest.dont give up

hi,i hav already cancelled my insurance yday,that shudnt affect my claim shud it,if anything it shud help it shudnt it, it shows i dont want it and therefore wudnt of had it in the first place if i knew it was optional.
this is only on a loan that is stil active,however i hav had 2 previous loans with lloyds that hav been paid back,both with ppi,so wil b interesting 2 c how much i hav paid in total,i stil havnt received any of my loan agreements i asked for,yet they responded 2 me with a standard letter saying they r looking into my complaint and wil get back 2 me in 8weeks.wil keep u all posted on my outcome.thanks again.

big_al_1981

di3004 wrote: »

Hi again.......:D
Thanks for asking on dad, he came home from hospital last Monday and so far doing good.:T

Looks like you received the standard response from lloyds tsb.

I am currently dealing with my lloyds loan ppi complaints now, although the FOS did resolve my credit card ppi complaint for me.
So I expect I will have this to come again, mine are on settled loans though, so will differ to active loans.

Lloyds are hard work in my experience, and we are having a few issues with them without the ppi business at the moment, they are not very helpful at all, and yes rude as well.

You may have read on here about these, being the highest of them all to reject these complaints, so hopefully now that this have been let out in the open they will play ball and resolve direct, instead of going as far as the FOS route.

I think there are many that have been in your situation with them, keep a note of everything, and phone calls, because if you decide that your not happy with the way they are dealing with your complaints, you can still go to the FOS.;)

hi there ,its gud 2 hear that we r going thru the same thing 2gether with the same bloody bank,lol,wot stage r u at with ur complaint,r u at the FOS yet?how much ppi r u hoping 2 claim back?i just want the next 7 weeks 2 go quick so can hear bak from lloyds,and hopefully start celebrating,lol,keep us posted on ur claim,gud luck.x

koala77

Hi Plaitey

Well this is my story so far. I took out a loan with Paragon in October 2007. The broker for the loan was Central Capital, they were the ones who sold me the dreaded PPI. The loan was for £30,500 and the PPI on top was £6777. After starting to struggle with my loan repayments after a few months I decided to cancel my PPI cover as I realised I never needed it in the first place. My monthly payment was £507.62 originally and this reduced by only £12.03 when I cancelled my PPI policy. Even though it was costing me £56.48 plus interest every month!! The PPI rebate after 5 months was £2264 which in effect meant that I had paid approx. £4500 for just 5 months PPI cover. I ended up settling my loan in 2008 with a settlement figure of £36,100 after 9 months.

I firstly wrote to Paragon about the mis-selling of the PPI and have had the initial letter back from them saying that they are reviewing my account and will write to me within 14 days. I have spoken to the Compliance Team Manager at Paragon today and he has basically told me over the phone that I need to go to the broker to raise my complaint with them. They say the selling of the loan has nothing to do with them! Even though Paragon have paid Central Capital a commission!!

So I have now written to Central Capital also, informing them that I have raised my concern with Paragon also. I have also added in another complaint about the disclosure of commission. On my loan agreement there were no broker fees, in fact the info I had said that there was no fee for the brokerage fees. However, it is now clear that they would have received a very tasty commission for the sale of my loan and my PPI and this was never disclosed to me at the time. So now I am also pursuing the "secret commission" complaint as well as the PPI mis-selling complaint. I have spoken briefly on the telephone to Central Capital and they have said that the FISA booklet I was sent at the time will cover the fact that the commission was not disclosed.

So now we just have to wait and see! I think they will try to fob me off but I am determined to get my money back. I will use the FOS if needed, bring it on!!

marshallka

koala77 wrote: »

Hi Plaitey

Well this is my story so far. I took out a loan with Paragon in October 2007. The broker for the loan was Central Capital, they were the ones who sold me the dreaded PPI. The loan was for £30,500 and the PPI on top was £6777. After starting to struggle with my loan repayments after a few months I decided to cancel my PPI cover as I realised I never needed it in the first place. My monthly payment was £507.62 originally and this reduced by only £12.03 when I cancelled my PPI policy. Even though it was costing me £56.48 plus interest every month!! The PPI rebate after 5 months was £2264 which in effect meant that I had paid approx. £4500 for just 5 months PPI cover. I ended up settling my loan in 2008 with a settlement figure of £36,100 after 9 months.

I firstly wrote to Paragon about the mis-selling of the PPI and have had the initial letter back from them saying that they are reviewing my account and will write to me within 14 days. I have spoken to the Compliance Team Manager at Paragon today and he has basically told me over the phone that I need to go to the broker to raise my complaint with them. They say the selling of the loan has nothing to do with them! Even though Paragon have paid Central Capital a commission!!

So I have now written to Central Capital also, informing them that I have raised my concern with Paragon also. I have also added in another complaint about the disclosure of commission. On my loan agreement there were no broker fees, in fact the info I had said that there was no fee for the brokerage fees. However, it is now clear that they would have received a very tasty commission for the sale of my loan and my PPI and this was never disclosed to me at the time. So now I am also pursuing the "secret commission" complaint as well as the PPI mis-selling complaint. I have spoken briefly on the telephone to Central Capital and they have said that the FISA booklet I was sent at the time will cover the fact that the commission was not disclosed.

So now we just have to wait and see! I think they will try to fob me off but I am determined to get my money back. I will use the FOS if needed, bring it on!!

Are FOS able to look into secret commissions? I know they will your PPI complaint as within jurisdictions but don't know about the commission issue. Perhaps that would be the courts although FOS had jurisdiction over Consumer credit since April 2007 so you may be right????

Let us know how you go on and good luck

di3004

big_al_1981 wrote: »

hi there ,its gud 2 hear that we r going thru the same thing 2gether with the same bloody bank,lol,wot stage r u at with ur complaint,r u at the FOS yet?how much ppi r u hoping 2 claim back?i just want the next 7 weeks 2 go quick so can hear bak from lloyds,and hopefully start celebrating,lol,keep us posted on ur claim,gud luck.x

Hello there
Yes so not to worry your not alone.
Although its only now recently I have started on this, been going over them to make sure this time I have covered everything, as I am doing a few at the same time.
Getting my sister to look over these for while she is down over the weekend as well, she lives in Cornwall so she will go over all this for me, before it goes off to them.
I will keep you posted on this hun, and wishing you luck with yours as well.:beer:

KAJH

• What were you reclaiming: - PPI from a personal loan
• Who was the provider: - HSBC
• How much did you get back: - £2560
• Did you get it back after a letter or did you go to the Financial Ombudsman: - Letter
• And then write your brief reclaim tale

My husband took out a personal loan with HSBC after leaving university. He was told that he had to take out PPI or they would not lend him the money, therefore he did so.
After reading this site I persuaded my husband to try to get the PPI back. He wrote a letter to HSBC in November 2008 (using the pro formas on the site)and they sent him a cheque for £2560 in January 2009, this included interest!