PPI Reclaiming successes and failures

Richard_Cypher

Hello there

In regards to the PPI
I was forced by First Direct a few years back to take out another loan with them to pay off the credit card, over draft and current loan i had with them or they threated to close my account

I was also told that I had to take out PPi or i couldn't have the loan.....

Payed off the loan 6 months early in 2008, took it out before in 05 i think

I rang them a few months ago regarding the PPI etc, they were not very helpful with the questions which is a first....they transferred me to the loan dept, told me no one was around....and sayed that someone would ring me back....they didn't

Worth bringin up?? and fighying??

The PPi was worth between 3000-6000 on the loan with 11 apr rate...

many thanks

Richard_Cypher

di3004

Richard_Cypher wrote: »

Hello there

In regards to the PPI
I was forced by First Direct a few years back to take out another loan with them to pay off the credit card, over draft and current loan i had with them or they threated to close my account

I was also told that I had to take out PPi or i couldn't have the loan.....

Payed off the loan 6 months early in 2008, took it out before in 05 i think

I rang them a few months ago regarding the PPI etc, they were not very helpful with the questions which is a first....they transferred me to the loan dept, told me no one was around....and sayed that someone would ring me back....they didn't

Worth bringin up?? and fighying??

The PPi was worth between 3000-6000 on the loan with 11 apr rate...

many thanks

Richard_Cypher

Hi Richard and welcome.;)

Yes go for it, but keep it in writing and post by recorded delivery, they should not ignore your complaint this way.
Give it a go by writing, giving your reasons.

They have 8 weeks in full to respond, keep at them until they resolve, or until they issue you with the final response, where if eligible you can take your complaint to the financial ombudsman service (FOS), they should enclose these details on the final response.

Do not worry about writing the amounts down at this time though.
For more info, check the link below, you will also find a checklist of mis selling reasons, if any of them also occur to you then write them as well, and you can use the templates if you want to, or as a guide in your own words.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Good luck with this, and ask for help if required, and please let us know how you get on.;)

Oddbin

trisha909 wrote: »

Well done!!... I sent a letter to HFC begining of this week and they have responded aready to say that they are investigating it and i should have an answer in 5 working days. How long did it take you from the 1st letter?

Trisha :rolleyes:

I think it was the thursday I got the letter and the settlement the following wednesday-thursday.

Good Luck!!

stingers

The financial institutions are now falling over themselves to hand back the PPI they unlawfully took from us. I had a credit card with MBNA - I took it out about 6 or 7 years ago. After about 6 months, I noticed there was a PPI charge on my statements. I phoned up and asked why it was there (as I hadn't signed for it or agreed to it, to my knowledge) - and I was told it was obligatory and that if I didn't want it I would have to cancel the credit card (which I didn't want to do).
I finally paid off and cancelled the credit card about a year ago, and at the same time, noticed Martyn's campaign about PPI mis-selling. I used the MoneySavingExpert standard letter to write to MBNA complaining about the PPI and the way it had been sold, but didn't hold out much hope of getting anything back as I had no written proof of the mis-selling. About two months later, MBNA wrote to me effectively telling me that they had looked into my case, dismissed it, and that I couldn't take it to the Ombudsman because it had happened so long ago. At this point, I disregarded Martyn's advice, and gave up on it as a lost cause.
However, last week, MBNA wrote to me again. First of all they apologised for saying I couldn't take my case to the Ombudsman, admitted they were wrong about that and offered me £150 as a goodwill gesture. Result! But it gets better. They went on to say that in light of their mistake, they'd re-examined the case, found in my favour, and sent me a cheque for £2300 to cover the PPI I'd paid plus the accumulated interest.
They'd changed their position 180 degrees without me having to lift a finger beyond sending them the original letter. I very much doubt they did this out of the goodness of their hearts - so I suspect that they are now so jumpy about the prospect of being penalised over PPI that they are trying to settle as many cases as possible, as quickly as possible. Which makes things easier for us consumers who've spent years being ripped off and conned.

di3004

stingers wrote: »

The financial institutions are now falling over themselves to hand back the PPI they unlawfully took from us. I had a credit card with MBNA - I took it out about 6 or 7 years ago. After about 6 months, I noticed there was a PPI charge on my statements. I phoned up and asked why it was there (as I hadn't signed for it or agreed to it, to my knowledge) - and I was told it was obligatory and that if I didn't want it I would have to cancel the credit card (which I didn't want to do).
I finally paid off and cancelled the credit card about a year ago, and at the same time, noticed Martyn's campaign about PPI mis-selling. I used the MoneySavingExpert standard letter to write to MBNA complaining about the PPI and the way it had been sold, but didn't hold out much hope of getting anything back as I had no written proof of the mis-selling. About two months later, MBNA wrote to me effectively telling me that they had looked into my case, dismissed it, and that I couldn't take it to the Ombudsman because it had happened so long ago. At this point, I disregarded Martyn's advice, and gave up on it as a lost cause.
However, last week, MBNA wrote to me again. First of all they apologised for saying I couldn't take my case to the Ombudsman, admitted they were wrong about that and offered me £150 as a goodwill gesture. Result! But it gets better. They went on to say that in light of their mistake, they'd re-examined the case, found in my favour, and sent me a cheque for £2300 to cover the PPI I'd paid plus the accumulated interest.
They'd changed their position 180 degrees without me having to lift a finger beyond sending them the original letter. I very much doubt they did this out of the goodness of their hearts - so I suspect that they are now so jumpy about the prospect of being penalised over PPI that they are trying to settle as many cases as possible, as quickly as possible. Which makes things easier for us consumers who've spent years being ripped off and conned.

Thank you so much for posting this, this will give much hope to others as well, cheers so much.:T:T
And Well done to you.:beer:

I am trying all ways with one of mine, but the broker dissolved, yet like yourself could not go to the FOS as they were not governed as such, even tried taking it to the lender, but they would not deal with this, then went on about we cannot go to the FOS blah blah and blah.
Now trying through the insurers instead, I am no holding much hope either, but we shall see what happens.

You done great hun, very pleased for you indeed.:beer:

(I complained last year on mine) but as I said no success at all up to now Xx

susie40

Thanks to Martin and his fight against the big banks I have claimed back £2,500 Alliance and Leicester and another £2159.00 from BOS. This has made my life so much easier can now concentrate on the debts and reduce them accordingly. I just downloaded the template letters of the site and heypresto. Alliance and Leicester notified me within a month that my claim had been successful. BOS it took about two months at first they said that I had been awarded £2800 and this would immediately be paid off against what I owed them on the sainsbury credit card but after appealing to them they relented and have offered me a cheque for £2159.00.
Just waiting on MBNA and another claim with Alliance and Leicester - watch this space. RBS refused me but I will be appealing.

Thanks Martin.

pinknico

stingers wrote: »

The financial institutions are now falling over themselves to hand back the PPI they unlawfully took from us. I had a credit card with MBNA - I took it out about 6 or 7 years ago. After about 6 months, I noticed there was a PPI charge on my statements. I phoned up and asked why it was there (as I hadn't signed for it or agreed to it, to my knowledge) - and I was told it was obligatory and that if I didn't want it I would have to cancel the credit card (which I didn't want to do).
I finally paid off and cancelled the credit card about a year ago, and at the same time, noticed Martyn's campaign about PPI mis-selling. I used the MoneySavingExpert standard letter to write to MBNA complaining about the PPI and the way it had been sold, but didn't hold out much hope of getting anything back as I had no written proof of the mis-selling. About two months later, MBNA wrote to me effectively telling me that they had looked into my case, dismissed it, and that I couldn't take it to the Ombudsman because it had happened so long ago. At this point, I disregarded Martyn's advice, and gave up on it as a lost cause.
However, last week, MBNA wrote to me again. First of all they apologised for saying I couldn't take my case to the Ombudsman, admitted they were wrong about that and offered me £150 as a goodwill gesture. Result! But it gets better. They went on to say that in light of their mistake, they'd re-examined the case, found in my favour, and sent me a cheque for £2300 to cover the PPI I'd paid plus the accumulated interest.
They'd changed their position 180 degrees without me having to lift a finger beyond sending them the original letter. I very much doubt they did this out of the goodness of their hearts - so I suspect that they are now so jumpy about the prospect of being penalised over PPI that they are trying to settle as many cases as possible, as quickly as possible. Which makes things easier for us consumers who've spent years being ripped off and conned.

Brilliant news and about time to!

trisha909

Do you have more chance of getting a good result if the lender has already been fined?

marshallka

trisha909 wrote: »

Do you have more chance of getting a good result if the lender has already been fined?

Fines were given out to firms for misselling during specific periods and in specific ways really but I would say if they missold at those times then there is also a good chance they also missold at other times when they were not investigated.

Addison_2

Have just received a cheque for £2392.10 for missold PPI sent first letter on 25th August and received this today, I am so happy as I can clear most of my debts and get the kids their christmas presents. I have to say that Halifax dealt with my complaint very quickly and fairly.