PPI Reclaiming successes and failures

stellaboy

PAULINEP59 wrote: »

Hi I,m new to all of this but I just wanted to say a big thank you to everyone who has posted threads and for Martin for making us all aware. :AOver the years we have taken out loan after loan, usually to consolidate our finances, we have always taken out the PPI with them, and they have always been in joint names. Five years ago when I was diagnosed with cancer I tried to claim on the insurance and was told that only the first named person could claim, as my husband's name was the first name and being financially nieve we never questioned this. Then in 2007 we consolidate our finances again and was led to beleive this time that we were both covered under the insurance, I know how nieve can someone be. Anyway we paid the premiums and then this year I was admitted into hospital for five days. I checked the policy and noted that we could claim expenses for hospitalisation, again we applied to the insurance to be told again that only my husband was covered.:mad: Due to the nature of my illness I was off work for three weeks and during this time heard Martin speak about missold PPI's and his website. Taking the bull by the horns I downloaded the template and sent it off to the bank. Earlier this week we received a letter stating that they would refund us the monthly PPI payments from the start of the loan up to date and 8% interest per annum on each of the monthly payments. I'm not sure how much this will work out but as I am not entitled to sick pay at present due to the amount of time off I have needed to take this year, just knowing that we will get something back from the bank will be such a relief. orry this is so long winded but I am so happy and want others to know that there is light at the end of the tunnel, you just need to know where to look for it. Thanks again!:beer:

well done :T all the best

supersaverg

Got my cheque from Alliance and Leicester for missold PPI yesterday. £2000 stright in the bank this morning.

All in all it took about two weeks including a postal strike. Credit to them for swift action.......probably cos they were fined for trying to fob people off

marshallka

PAULINEP59 wrote: »

Hi I,m new to all of this but I just wanted to say a big thank you to everyone who has posted threads and for Martin for making us all aware. :AOver the years we have taken out loan after loan, usually to consolidate our finances, we have always taken out the PPI with them, and they have always been in joint names. Five years ago when I was diagnosed with cancer I tried to claim on the insurance and was told that only the first named person could claim, as my husband's name was the first name and being financially nieve we never questioned this. Then in 2007 we consolidate our finances again and was led to beleive this time that we were both covered under the insurance, I know how nieve can someone be. Anyway we paid the premiums and then this year I was admitted into hospital for five days. I checked the policy and noted that we could claim expenses for hospitalisation, again we applied to the insurance to be told again that only my husband was covered.:mad: Due to the nature of my illness I was off work for three weeks and during this time heard Martin speak about missold PPI's and his website. Taking the bull by the horns I downloaded the template and sent it off to the bank. Earlier this week we received a letter stating that they would refund us the monthly PPI payments from the start of the loan up to date and 8% interest per annum on each of the monthly payments. I'm not sure how much this will work out but as I am not entitled to sick pay at present due to the amount of time off I have needed to take this year, just knowing that we will get something back from the bank will be such a relief. orry this is so long winded but I am so happy and want others to know that there is light at the end of the tunnel, you just need to know where to look for it. Thanks again!:beer:

Hi, sorry to hear of your health issues.

I note their redress is not one that you would expect for being missold. All they are repaying to you is the PPi that you have paid so far and 8% interest. As this is a single premium you would expect back (if missold) all the PPi paid to date and 8% statutory interest on each repayment and then the remainder of the PPI and INTEREST due to be taken off the loan and the loan redone without it. I am not saying your win is not good and if you are happy this way then that is fine but it does not look like a full redress to me.

di3004

supersaverg wrote: »

Got my cheque from Alliance and Leicester for missold PPI yesterday. £2000 stright in the bank this morning.

All in all it took about two weeks including a postal strike. Credit to them for swift action.......probably cos they were fined for trying to fob people off

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

amersall

PAULINEP59 wrote: »

Hi I,m new to all of this but I just wanted to say a big thank you to everyone who has posted threads and for Martin for making us all aware. :AOver the years we have taken out loan after loan, usually to consolidate our finances, we have always taken out the PPI with them, and they have always been in joint names. Five years ago when I was diagnosed with cancer I tried to claim on the insurance and was told that only the first named person could claim, as my husband's name was the first name and being financially nieve we never questioned this. Then in 2007 we consolidate our finances again and was led to beleive this time that we were both covered under the insurance, I know how nieve can someone be. Anyway we paid the premiums and then this year I was admitted into hospital for five days. I checked the policy and noted that we could claim expenses for hospitalisation, again we applied to the insurance to be told again that only my husband was covered.:mad: Due to the nature of my illness I was off work for three weeks and during this time heard Martin speak about missold PPI's and his website. Taking the bull by the horns I downloaded the template and sent it off to the bank. Earlier this week we received a letter stating that they would refund us the monthly PPI payments from the start of the loan up to date and 8% interest per annum on each of the monthly payments. I'm not sure how much this will work out but as I am not entitled to sick pay at present due to the amount of time off I have needed to take this year, just knowing that we will get something back from the bank will be such a relief. orry this is so long winded but I am so happy and want others to know that there is light at the end of the tunnel, you just need to know where to look for it. Thanks again!:beer:

i agree with marshalka on this one, they have not given you full redress,as if they had the ppi payment would have been taken off your loan and the loan redone without ppi, plus the monthly payment would go down.is this what they have done? sorry to hear about your health and hope you recover well

amersall

supersaverg wrote: »

Got my cheque from Alliance and Leicester for missold PPI yesterday. £2000 stright in the bank this morning.

All in all it took about two weeks including a postal strike. Credit to them for swift action.......probably cos they were fined for trying to fob people off

:j:j well done to you, boy that was quick :D hope other companys have seen the light as well;)

ishasj

Hi,

Reclaiming - Loan PPI
Provider - HSBC
Got back after 1 letter - £5674.93

I heard about the PPI reclaiming in the press so looked up the details on your website. I am a member of the Armed Forces and had heard that we too should not be charged PPI as there is little to no chance of redundancy, we are kept on full pay whilst ill and if we are medically discharged we would effectively be pensioned off so therefore able to continue paying loans etc. I took out a loan from HSBC soon after joining the Forces in 2002 (completed in 2007) and the PPI was 'sold' to me as a requirement, being young (and maybe a bit wet behind the ears!) I had no idea that this was not the case.
Anyway in mid August 09 this year I used your website's letter format to write to HSBC contesting the charges, (details of which I got off my online account) which by my calculations amounted to approx £600. They wrote back to me within 2 weeks requesting that I give them 4 weeks to look in to the complaint, just before the 4 week point they wrote to me again saying that they had still not finished their investigation, thank you for my patience and please allow them a further 4 weeks. As they had kept me informed I deemed this a reasonable request. Then the week before last they wrote to me offering me a final settlement of £5674.93!! Couldn't believe it!! Obviously bit their hand off and the money was deposited in to my nominated account last week. All it had taken was 20 minutes of my time and the cost of a 1st class stamp!! I would recommend this to everyone who is eligible, I am not the type to complain usually – a very British habit - but from now on I will definitely be being more assertive about these things!!!! Can't thank you enough MoneySavingExpert, you truly are sent from above!!!:A

di3004

ishasj wrote: »

Hi,

Reclaiming - Loan PPI
Provider - HSBC
Got back after 1 letter - £5674.93

I heard about the PPI reclaiming in the press so looked up the details on your website. I am a member of the Armed Forces and had heard that we too should not be charged PPI as there is little to no chance of redundancy, we are kept on full pay whilst ill and if we are medically discharged we would effectively be pensioned off so therefore able to continue paying loans etc. I took out a loan from HSBC soon after joining the Forces in 2002 (completed in 2007) and the PPI was 'sold' to me as a requirement, being young (and maybe a bit wet behind the ears!) I had no idea that this was not the case.
Anyway in mid August 09 this year I used your website's letter format to write to HSBC contesting the charges, (details of which I got off my online account) which by my calculations amounted to approx £600. They wrote back to me within 2 weeks requesting that I give them 4 weeks to look in to the complaint, just before the 4 week point they wrote to me again saying that they had still not finished their investigation, thank you for my patience and please allow them a further 4 weeks. As they had kept me informed I deemed this a reasonable request. Then the week before last they wrote to me offering me a final settlement of £5674.93!! Couldn't believe it!! Obviously bit their hand off and the money was deposited in to my nominated account last week. All it had taken was 20 minutes of my time and the cost of a 1st class stamp!! I would recommend this to everyone who is eligible, I am not the type to complain usually – a very British habit - but from now on I will definitely be being more assertive about these things!!!! Can't thank you enough MoneySavingExpert, you truly are sent from above!!!:A

Fantastic.:T:T:j:j
Many Congratulations.
:beer:

smellie6

Thank you very much Martin Lewis.

I used the template from this web site to claim my money back from Egg. I took out a loan in Oct 2006. After reading lots of reports from other people that were not succesful, I hesitated. But now I am glad I sent it. Got back £2700!!!! So people go for it!!!! Thanks again Martin.

di3004

smellie6 wrote: »

Thank you very much Martin Lewis.

I used the template from this web site to claim my money back from Egg. I took out a loan in Oct 2006. After reading lots of reports from other people that were not succesful, I hesitated. But now I am glad I sent it. Got back £2700!!!! So people go for it!!!! Thanks again Martin.

Hello and welcome.;)
Brilliant, well done......:T:T
And
Congratulations.
:beer::beer: