PPI Reclaiming successes and failures

aaronogborne

well done how much was the cost of ppi before interest i think mine was 17k waiting to hear about my claim

pinknico wrote: »

• What were you reclaiming: loan(s)
• Who was the provider: Picture Financial Services.
• How much did you get back: £27270
• Did you get it back after a letter or did you go to the Financial Ombudsman: Went to the FSCS
• And then write your brief reclaim tale : Picture went into liquidation in June 2008, sent claim to FSCS August 2008, Picture declared in Default in July 2009, FSCS paid out in October 2009.

Thank you so much Martin for drawing my attention to mis selling of PPI.xx

leanneq

John28 wrote: »

I recently reclaimed about £1400 from Northern Rock for PPI mis-sold to me on loans of about £15000 going back about 5 years. I sent off the template letter requesting my money back. I got a reply asking me to fill in a form with all the details of the PPI but as I didn't have the details I sent back the 2nd template letter stating that Northern Roack by law must keep records of the information and so must provide that information to me. Within 2 weeks I had another letter from NR syaing they agreed my PPI had been mis-sold to me and agreed to refund me the premiums plus 8% (totalling £1400+).

How long did it take? I'm still waiting for mine! Letter sent aug 22nd and had a letter last week saying they need another 4 weeks! I did phone last week and they said it has been agreed tho!

kerouac9

• What were you reclaiming: loan(s)
• Who was the provider: HSBC
• How much did you get back: £6206
• Did you get it back after a letter or did you go to the Financial Ombudsman: 1st Template letter
  And then write your brief reclaim tale : Found out from this site that I was missold single policy insurance, sent the template letter and my complaint was upheld meaning that I could close my loan.

Thanks Martin for giving me the strength to claim back what was rightfully mine!

Gerald_The_Frog

Gerald_The_Frog wrote: »

Hi All
Hope you are all well?
My case against Barclays is still ongoing... I am claiming mis-sell on 5 loans... My case has been with the FOS since November 08... My adjudicator did not receive any answer from Barclays, when he asked them to consider paying up on all 5 loans (they did offer a goodwill gesture on 3 loans in January 09)... So two weeks ago, he told me that he would pass it on the Ombudsman himself to make a binding decision... I emailed him 10 days ago, and he told me to contact him in two weeks time...
Does anybody know how long the wait is, between the adjudicator and the Ombudsman taking their decision??
Any help would be greatly appreciated
Thanks

Hi all

Just had a call from the FOS, stating that my case has not yet been passed to an Ombudsman, and that it could take a few months !! :eek: before it arrives on an Ombudsman's desk to look at!!
What is going on at the FOS?? My case started in Sep 08...
is there anything I can do to get things accelerated? I don't consider myself in hardship, as I still have a roof over my head and food on the table, but a positive outcome, could drastically change my life around...

Please help!!!

maxdp

Gerald_The_Frog wrote: »

Hi all

Just had a call from the FOS, stating that my case has not yet been passed to an Ombudsman, and that it could take a few months !! :eek: before it arrives on an Ombudsman's desk to look at!!
What is going on at the FOS?? My case started in Sep 08...
is there anything I can do to get things accelerated? I don't consider myself in hardship, as I still have a roof over my head and food on the table, but a positive outcome, could drastically change my life around...

Please help!!!

Hi There

I know it is difficult but you can wait up to 18 months plus more at the moment as they are very busy. Am sure it will not be too long now.

Tock389

This has just been released.
28 October 2009


Swinton to offer refunds on over 480,000 PPI policies following FSA intervention
The Financial Services Authority (FSA) has fined Swinton Group Ltd, the high street insurance broker, £770,000 for serious failings in their advised sales of single premium payment protection insurance (PPI).
Following discussions with the regulator, Swinton has also agreed to contact over 350,000 customers who paid for the PPI and offer a full refund.
Between December 2006 and March 2008 the FSA found that the firm’s PPI sales process was flawed. The problems arose as a result of an “assumptive” selling technique in which PPI was automatically included in insurance quotes without first establishing that the customer had any real demand or need for the PPI cover. This resulted in unacceptable levels of non-compliant sales.
In addition, Swinton did not make it sufficiently clear that PPI was optional and did not properly disclose the cost of PPI at the point of sale. Firstly, the cost was bundled within the initial insurance quote and secondly, Swinton failed to disclose before the sale completed that the policy only cost £1.21 with the remainder of the £15/£20 charged being a fee taken by Swinton.
Swinton’s PPI customers will now be able to get a full refund. Swinton will also pro-actively review previously rejected claims and pay compensation where appropriate. Swinton accrued approximately £7.8 million from its PPI sales.
Swinton exited the PPI market in March 2008 following a request from the FSA when these failings came to light.
Margaret Cole, FSA director of retail enforcement and financial crime, said:

“These were deliberate breaches. Swinton was fully aware it should establish a customer’s need for PPI before recommending it, yet nearly half a million policies were sold to customers who didn’t necessarily require them.
“Swinton’s PPI sales fell a long way short of our requirements and the firm clearly failed to treat its customers fairly. This penalty, the remedial action, and Swinton’s departure from the PPI market - along with our recent announcement outlining the FSA’s tougher measures for regulating PPI – serve as a shot across the industry’s bow to remind it to play fair, or not play at all.”

By agreeing to settle at an early stage of the investigation Swinton qualified for a 30% reduction on the full fine; were it not for this discount, the FSA would have imposed a financial penalty of £1.1 million.

bigalig69

Hi I've been a casual user of the site for a couple of years now but thought I must tell everyone of my success with First Direct.

I was a happy customer for many years and then noticed they changed in their attitude towards customers. Anyway to cut a long storey short I took out a loan of 20K payable over 5 years incl PPI.

Unfortunately I was on holiday in France in August 2007 and they defaulted me on my loan and handed without discussion the balance to Metropolitan Collections who hounded me literally hounded me to pay of fthe balance - I even increased the amount I paid back to them from £323 to £400 pounds per month and then they wanted £500 to which I obviously said No.

I came across the PPI templates on Martins site and with 1 letter they offerred me approx £5K back - admitting no liability of course - so thanks Martin and for all of you going through similar motions keep your chin up - it really is worth it. Using a similar approach I also got 5K back from Egg and Im after MBNA next!!

I need to accept the offer of course but I was also wondering if I could leverage the removal of the default - any ideas?

amersall

bigalig69 wrote: »

Hi I've been a casual user of the site for a couple of years now but thought I must tell everyone of my success with First Direct.

I was a happy customer for many years and then noticed they changed in their attitude towards customers. Anyway to cut a long storey short I took out a loan of 20K payable over 5 years incl PPI.

Unfortunately I was on holiday in France in August 2007 and they defaulted me on my loan and handed without discussion the balance to Metropolitan Collections who hounded me literally hounded me to pay of fthe balance - I even increased the amount I paid back to them from £323 to £400 pounds per month and then they wanted £500 to which I obviously said No.

I came across the PPI templates on Martins site and with 1 letter they offerred me approx £5K back - admitting no liability of course - so thanks Martin and for all of you going through similar motions keep your chin up - it really is worth it. Using a similar approach I also got 5K back from Egg and Im after MBNA next!!

I need to accept the offer of course but I was also wondering if I could leverage the removal of the default - any ideas?

welcome and well done. not sure about the default as you did default! someone else may be able to help you with this one if there is a way to get this removed, once again well done on your win.if the offer was not for all your ppi, i would contact them and say you are not happy with this offer and see if they offer you more if you threaten to go to fos (nicely of course!)

superdupermummy

Hi
I used the template letters on this website and challenged Egg for their single premium policy. They denied any mis selling so I went to the FOS, after about 10 months the FOS decided my complaint should be upheld and I recieved 7k from them. I then went back through my provious loans, which I had topped up and complained about those, Egg repaid the PPI of 1.5k within 2 weeks!
I started the ball rolling for my Husbands loans, 2 which were topped up and 1 ongoing one and within 2 weeks he has recieved over 7k back!
My advice would be to send the letters and see what happens.
We've managed to pay off all outstanding debt (minus the mortgage), and it has made us £400 a month better off!
I found these forums a brilliant support throughout.
Thanks MSE!
xx

di3004

superdupermummy wrote: »

Hi
I used the template letters on this website and challenged Egg for their single premium policy. They denied any mis selling so I went to the FOS, after about 10 months the FOS decided my complaint should be upheld and I recieved 7k from them. I then went back through my provious loans, which I had topped up and complained about those, Egg repaid the PPI of 1.5k within 2 weeks!
I started the ball rolling for my Husbands loans, 2 which were topped up and 1 ongoing one and within 2 weeks he has recieved over 7k back!
My advice would be to send the letters and see what happens.
We've managed to pay off all outstanding debt (minus the mortgage), and it has made us £400 a month better off!
I found these forums a brilliant support throughout.
Thanks MSE!
xx

This is fantastic, well done, I expect they learnt their lesson of the first one that was taken to the FOS lol.....:D, well done and Congratulations.
:T:beer::T