PPI Reclaiming successes and failures

di3004

thegrinner wrote: »

What were you reclaiming: Ppi in loan
Company: Cahoot
Amount? £1360 inc 8% interest
Letter or Ombudsman: 1st letter.
Today is 8 weeks exactly since I sent the first letter, so I drafted a letter to say I hadn't heard anything. When I got home there was a letter from Cahoot saying they were upholding my claim and refunding my premiums. Got the acceptance form signed ready to post in the morning - all being well, money should be in my account by the weekend. Just need to delete the reminder letter now!
Better still is that the loan was paid off in December so not only am I £1300 up, but now £190 a month better off!
Cheers for the letter and encouragement:beer:

This is fab, just after 1 letter.......:T:j
Congratulations.:beer::beer:

di3004

stupidsod wrote: »

Took out a loan(60,000!!!) with, PICTURE loans approx 4 years ago(who have gone bust now).
They told me that I had to have PPI or else I wouldn't get this loan,so like an idiot I did,So on top of the £60,000 they added approx £12,000(grand total now of £72,000)!!!Nobody told us about this at the time!!!
I complained to them(PICTURE LOANS)about this single policy and the miss selling of the loan,I did the complaint letter which is on this website.I received a letter from them to say that the company had gone bust and I wouldn't get any money back!!!
Is this true ?
Is there away to appeal against this?

Hi there

Yes you need to deal with this claim through the Financial compensation scheme (FSCS) many on here have been recently successful with these, and also in regards of Picture.
Here below is the thread to companies in default, you will find a great deal of posters who had claims against these and successful.
http://forums.moneysavingexpert.com/showthread.html?t=1897143
Loads of help and advice on there.

So please do not give up on this, you will get your money back this way.;)

hannahb123

hi there, was just wondering how long it took via the FOS, mine has been with them a year now?????????????

di3004

hannahb123 wrote: »

hi there, was just wondering how long it took via the FOS, mine has been with them a year now?????????????

Hi there

When was the last update you received from the FOS?

The volumes of these complaints have risen again this year, one of mine 2 years ago taken approx 14-15 months from start to finish, but now I hear are taking longer for many.

If your in any financial hardship, let them know and request for fast tracking, good luck, hope you hear something soon with good news.;)

hannahb123

last update was about a month ago, with the usual "we are experiencing high volumes and that they are just waiting on an adjudicator"
They have been waiting on an adjudicator since sept 09.

di3004

hannahb123 wrote: »

last update was about a month ago, with the usual "we are experiencing high volumes and that they are just waiting on an adjudicator"
They have been waiting on an adjudicator since sept 09.

Its very frustrating isn't it?

Send them an email every 2 weeks if you want to for updates.

And of course more annoying because your still waiting for your case to be moved on to an adjudicator!!

I posted an article in the news section earlier in regards of the FOS complaints as well, will post the FOS news link here:
http://www.financial-ombudsman.org.uk/news/updates/corporate_plan_and_10-11_budget.html

katiefly

di3004 wrote: »

Hi Katie

Sorry to hear this.

Was the the "final response" from Barclays?
If not you can write back and ask them to reconsider with your reasons, but otherwise yes do take to the FOS, good luck.;)
http://www.financial-ombudsman.org.uk/consumer/complaints.htm

Barclays reviewed my case again after I threaned to go to FOS. And now they are refunding all the premium that I paid in the past and re-structure the loan for me!!

However, they didnt mention anything like refunding me the 8% interests or any interests that i might be entitled to receive. Is it normal with PPI reclaim?

di3004

katiefly wrote: »

Barclays reviewed my case again after I threaned to go to FOS. And now they are refunding all the premium that I paid in the past and re-structure the loan for me!!

However, they didnt mention anything like refunding me the 8% interests or any interests that i might be entitled to receive. Is it normal with PPI reclaim?

Hi Katie, that is good news, well done....:T:T, sometimes its worth just asking.
Well done.:beer:
If they have now admitted liability of mis selling then you are to what I know of entitled to the 8%, this is because you have been deprived of your money, and a court would award this as well due to this reason, give them a quick call to check on this, good luck.;)

joncow75

jocker01 wrote: »

What were you reclaiming: Loan
Who was the provider: HSBC Plc
How much did you get back: £1960 inc. gross intrest at 8%
Did you get it back after a letter or did you go to the Financial Ombudsman: one e-mail
After sending a email, they send me a letter that my complain claim will take 4 weeks, after couple weeks got another letter that my claim isn't ready yet and will take another 4 weeks. On january 5th got letter with the offer: £1739,02 included 143,67 gross intrest at 8%. on january 22nd my loan has been restrutured. My repayment went down for about £60 :beer: Thank You.:money:

Congratualtions, this gives me great hope for a reult the start of February

lucieloo

hi all just a quick question. i wrote to hsbc regarding three loans we had i have received a letter today saying that 2 of the loans had no ppi but they are investigating 1 of them as it did have ppi. i stumbled across these account numbers as i dont have any agreements as the loan was taken in 2000 by chance looking for something else and i wrote off to them. although i have agreement numbers i cant remember how much the loan was for and how much ppi was in it. my question is if the bank are investigating the one with ppi on should i be able to get a copy of the agreement? or do you think i should just leave it?