PPI Reclaiming successes and failures

delboyuk2005uk

getting a call later today from dfs. any advice on what I should and not say thanks?

RichP_2

delboyuk2005uk wrote: »

getting a call later today from dfs. any advice on what I should and not say thanks?

My personal opinion is there is no need to speak to them on the phone, with them being recorded its too easy to say the wrong thing and spoil any chance of a claim, keep it all to recorded delivery letter so what is said can be thought through, thats my opinion, Richard.

DaisyBella_2

Okay - good news!!

DFS have agreed to pay me full amount of PPI (£337.75) + 8% interest/pa (£198.60) + court costs (£60) . I received letter today and phoned to confirm. They promised to send out cheque for full amount.

Details leading up to success: Wrote to Nova Finance x 2 (lender) with no response. Wrote to DFS x 1. They replied by phone - saying No, so I asked for written confirmation of their 'No'. Once I had it I filed a MCOL claim (I was confident of my case) - they responded (today) which is the last working day before their 'acknowledgement of claim' period runs out. The letter agrees to pay full amount - what I find amazing is it is full acceptance - no Without Prejudice or Goodwill Gesture - just a straight offer. They are a bit sneaky - the letter was dated 6th March - summons was issued on 3rd March - so they basically agreed to pay out as soon as they received the summons, however, they kept the letter until now (their time is up on 22nd - Saturday).
This is my first PPI Success - so I am quite excited at the moment.

Thanks to all the advice and encouragement from all the Forum Regulars.

Dallas

At long last I got round to using your template and wrote to the Alliance and Leicester re a 4 year loan due to complete in June this year. We are self employed and the insurance policy did look as though it would cover certain self employed situations but we used the "occupation not asked at time of Loan. To my astonishment we have just received a letter offering to repay the full amount right up to June 2008 of £2873.00 after just one letter!!
Thank you so much for your assistance via the template letter:T

pipkin77

• What were you reclaiming: PPI on bank loan
• Who was the provider: HSBC
• How much did you get back: £499.43
• Did you get it back after a letter or did you go to the Financial Ombudsman: After the second template letter to the Bank

In September 2005 I went into the bank to see if they would extend my overdraft as I ahd been getting bank charges of £100 + per month. They refused and said the only way i could avoid further bank charges was to take out a loan. I was desperate as it was only the middle of the month and I was already approaching my overdraft limit, and agreed to this.

They would only let me take out the loan with protection, despite my protestations that i had a secure job. They insisted that without PPI they would have no choice but to reject my loan application.

As I was in quite an emotional state, having realised the extent of my financil troubles (I have adhd and was terrible at managing my money, am much better at it now) I agreed to this and the loan application was successful.

Having successfully claimed back a lot of the bank charges last year, thanks to this site I decided to try and claim back the PPI, (which i have always resented paying and which made up a quarter of my monthly repayment). I had previously been told by HSBC that i couldn't cancel but when I saw the Payback time program on Channel 5 towards the end of last year I thought I had good grounds to at least attempt to reclaim, given the fact I was essentially forced into taking out PPI.

I used the first template letter, which i sent recorded delivery to my branch of HSBC. I received a reply about 10 days later saying they would look into my complaint. The next letter I received, 2 months later, basically said they were having none of it, and they sent me a copy of the loan agreement to prove their point that I had known exactly what I was signing up for. Just one problem; whilst signed, none of the tick boxes agreeing to the various terms of the PPI had actually been ticked.

This gave me extra ammunition, so I fired of template letter 2, adding that none of the boxes had been ticked. I sent this letter recorded delivery to HSBC complaints department in Bristol on Thursday 13th March. I had a reply the following Thursday, 20th March which i am glad to say was much more favourable with the result that I am having the full amount of loan protection repaid.

Even if I hadn't had the evidence that the boxes weren't ticked, I still would have taken the complaint further as the pressure I was put under to take out PPI was unacceptable.

To anyone who has received an unfavourable response to their first letter I would say please do not be put off sending a second letter; the chances are your concerns will be taken far more seriously at this stage.

Many thanks to Martin and everyone who has posted their stories on here, I am going to donate a proportion of the refund to charity by way of thanks.

Kind regards and good luck,

Andrea

Estereggeater

Hi all
I received a letter from BOS in January saying they agree that I was not eligible for the policy and that they will caluculate and issue the £'s.:j
Two months later no £'s, FOS are too busy, so now I'm going the Court way but need help with the wording in the N1 Particulars of Claim part or any other thoughts, I need the money quickly.

Thanks

Estereggeater

Hi all
I received a letter from BOS in January saying they agree that I was not eligible for the policy and that they will caluculate and issue the £'s.:j
Two months later no £'s, FOS are too busy, so now I'm going the Court way but need help with the wording in the N1 Particulars of Claim part or any other thoughts, I need the money quickly.

Thanks

Sorry for the double post

CoCo_2-2

Further to my last post - another result!

I today received a response from Redcats - (LaRedoute), who agreed my complaint should be withheld and are crediting my account with £68.68 in charges since May 2006 and a miserly interest payment of 0.67% which equates to £10.53, so in total I'll get a £79.21 credit. Still I'm not complaining it's a good return on the price of a stamp.

GE Money - my B&Q card are being slighly more difficult, telling me that as my account was set up in 2004, the FSA decision is not relevant, I had 30 days to cancel and they can find no evidence of mis-selling. As I don't have this card anymore, I think they are going to give me a battle, however, a second letter has been sent and am prepared to take it further if I need to!


HFC Bank (DFS) - awaiting reply
GE Money (B&Q Card) - first letter big fat no! second letter sent - awaiting response
Mint Credit Card - awaiting response
HFC Bank (Marbles Credit Card) - £337.28
Redcats (LaRedoute) - £79.21
Total so far = £416.49:T

jaymar

I reclaimed PPI on a loan provided by HSBC. The loan was taken out to clear an overdraft. They insisted I had to take the PPI or they would not allow the loan and would refer the debt for recovery.
I wrote and complained and had a letter yesterday confirming they will repay the PPI & statutory interest totalling ££1668.56!
The loan was taken out 10 years ago and but for Martin I would never have known I could reclaim. A big, big thank you to Martin.
Incidentally, HSBC advise me that the statutory interest may be taxable, so other successful claimants should bear this in mind.

allyflo77

What were you reclaiming: PPI on bank loan
Who was the provider: HSBC
How much did you get back: £4213.51
Did you get it back after a letter or did you go to the Financial Ombudsman: 1st Letter

Took out a loan from HSBC for £15000 over 8 years in 2004. This partly paid for another loan from HSBC (also had PPI).

Questioned as to whether my PPI would cover health conditions that I already have. I wrote because I had never been questioned about my health.

HSBC upheld my complaint with no question and offered me £4213.51 which included payments and interest for both of my loans

Thank you - this has helped in more ways than you could ever know