PPI Reclaiming successes and failures

budwyza

ANY_CHANCE wrote: »

Hi Budwyza not sure hun but post on the discussion thread, Im not an expert but seem to remember something about if you cancel PPI you should be able to have a refund and they have to offer a similar loan rate package. bu tmore details may be needed and more research - good luck x

Hy Any Chance


many thanks for your response , appreciated :hello:

panda78_2

I followed the procedure to the T when contacting CITI Financial about being mis sold the insurances I got with my loans. I sent a seperate letter for every loan I got off them.
The first letters I sent, I included my resent loan which I knew I did not have insurance just to see what would happen.
Needless to say I received a reply within a week about this loan stated I did not have insurance. I never received any correspondence about the other ones.
I then sent the 2nd letter after the suitable waiting time and now three month later I still have not received any correspondence from them.
So far it looks like a failure.

panda78_2

panda78 wrote: »

I followed the procedure to the T when contacting CITI Financial about being mis sold the insurances I got with my loans. I sent a seperate letter for every loan I got off them.
The first letters I sent, I included my resent loan which I knew I did not have insurance just to see what would happen.
Needless to say I received a reply within a week about this loan stated I did not have insurance. I never received any correspondence about the other ones.
I then sent the 2nd letter after the suitable waiting time and now three month later I still have not received any correspondence from them.
So far it looks like a failure.

crysta1010

I wrote to these at end of January, and got 2 replys saying looking into it. Am sending the second letter today giving them 14 days before I go to Financial ombudsmen.
:mad:

Alison_Ottaway

I too am fighting with CitiFinancial - on two counts!!! One for a PPI reclaim and one for bank charges. The PPI reclaim letter was acknoweldged on 22 Feb saying they'd reply within 21 days. Guess what - they didn't! I've not heard anything since so off to the FO now. Slightly more success with the bank charges claim - no resolution as yet but at least I'm getting their 'status update' letters regularly even if nothing happening as yet. Keep going!!!

sassyshamrock

Hi everyone,
To cut a long story short I have had a phone call from the ceo of first plus to say that they can not locate any of our phone calls regarding the purchase of our ppi. We believe that we were missold this policy on a number of counts including being told it was not optional. He personally has said as a result of our dissatisfaction he will offer us the all of the ppi plus interest (around £17k) but this can only be taken off our loan and not be given to us as a cheque. I asked him as to why we do not have the choice as to how our money is returned. He laughed and said he was exasperated at my suggestion of cashback! Effectively the missold ppi is removed from the loan as if we had not taken out the policy and our payments are reduced as a result. This makes sense but where in theory is the refund?? Are we entitled to this as cashback? I feel like we need some professional advice in deciding whether this is a fair offer or not. Any suggestions greatly appreciated.

SUFC

crysta1010 wrote: »

I had a loan from them about 5-6 years ago with ppi but not sure how much the ppi was. The loan was for £3000 and am sure the ppi was nearly the same amount.

We paid the loan off after only a couple of years so have sent them a letter from this site at beginning of march. Got a reply on 15th March saying they will carry out an investigation and reply shortly. Recieved another reply on 14th April saying they are in the process of gathering relevant information and preparing their final response, which will be issued in due course.

Does anyone know of any success stories with these?

Hi good luck with these, i've sent them loads of letters, they don't budge an inch, you may have to go to court with them.

SUFC

alleybabes wrote: »

Hi i had a loan exactly the same as you and finished paying it a couple of years ago,we wrote to them with a template letter about three months ago and they have just replied denying they missold,we borrowed £3000 and the insurance was frontloaded so we were paying interest on the insurance too! THE PPI WAS £1280! I have gone through moneyclaim online as there is such a long wait with ombudsman who i have another claim with,i will let you know how i get on they have acknowledged my claim but have heard nothing else yet but its really the principle that i was ripped off and pushed into the ppi

Hi alley, good luck with this, when have they got to repsond by. i'm in court with one for black horse. Thye have acknowledged my claim and have til 20th may. i'm willing to go to court with them as it is a clear case of mis selling. the loan was in my name yet they put the ppi in my husbands name who wasn't even present when i took the loan out. i'll let you know what happens, please do likewise.

SUFC

panda78 wrote: »

I followed the procedure to the T when contacting CITI Financial about being mis sold the insurances I got with my loans. I sent a seperate letter for every loan I got off them.
The first letters I sent, I included my resent loan which I knew I did not have insurance just to see what would happen.
Needless to say I received a reply within a week about this loan stated I did not have insurance. I never received any correspondence about the other ones.
I then sent the 2nd letter after the suitable waiting time and now three month later I still have not received any correspondence from them.
So far it looks like a failure.

Hi, keep on with them, they'll send you the info you require eventually, but you'll prob have to go to court with them as i am at present, its taken me 5 months so far from first requesing copies of my agreements. They just keep sending out standard responses and are not addressing the actual issues, so i am now filing a claim against them, i'll see what happens. I'm determined to see this through to the end as they are so heavy handed.

kinikki

sassyshamrock wrote: »

Hi everyone,
To cut a long story short I have had a phone call from the ceo of first plus to say that they can not locate any of our phone calls regarding the purchase of our ppi. We believe that we were missold this policy on a number of counts including being told it was not optional. He personally has said as a result of our dissatisfaction he will offer us the all of the ppi plus interest (around £17k) but this can only be taken off our loan and not be given to us as a cheque. I asked him as to why we do not have the choice as to how our money is returned. He laughed and said he was exasperated at my suggestion of cashback! Effectively the missold ppi is removed from the loan as if we had not taken out the policy and our payments are reduced as a result. This makes sense but where in theory is the refund?? Are we entitled to this as cashback? I feel like we need some professional advice in deciding whether this is a fair offer or not. Any suggestions greatly appreciated.

If they are going to take your loan agreement back to what it would have been like had you never taken PPI out I would be looking for them to return all payments made towards the PPI in cash as it is your money.
Good luck