PPI Reclaiming successes and failures

laverslomax

:jHi , In October 2009 i sent of the first template letter to Welcome Car Finance to claim back PPI on a car loan we took out in 2005, I had to also send the second and third letters, they did correspond back to me keeping me up to date with the claim, and i did fill out a questionaire , however today 30 January 2010 i have a letter stating they are going to refund all my PPI plus interest, a huge £3807.89,
I would just like to say to anybody claiming DO NOT GIVE UP, also thankyou to members who have helped me,
please look at other posts i have made to see how the claim progressed...:T this website is the BEST !:rotfl:

Promanuk

Hi Martin

Just wanted to say a big thank you for providing the advice and template letter on how to reclaim PPI from my lender. I wrote to Egg Plc some 6 months ago using your template letter.

I believe I had been mis-sold PPI when I took out a £15k car loan 4 years ago, the charges for PPI were £3900.

After 8/12 weeks their first response was to deny my claim (standard reply to every claim I think, they hope you will just go away) I insisted that they listen to the original recording of my telephone application, after a few weeks they wrote back stating that they had reviewed the call and I had not been mis-sold and that was the end of the matter as far as they were concerned.

Again just another attempt to make me go away!!!

I called them requesting a transcript of all calls which related to my application, so i could review what had actually been said during the calls. As I knew the call centre person had told me taking out PPI would ensure I qualified for the loan.

Meanwhile I wrote to the FOS asking them to investigate my claim.

Meanwhile I continued chased EGG for the transcripts of the calls, once again they just tried to put me off by saying "The Legal department were reviewing my request and they had not mis-sold me PPI"

I received a letter from the FOS yesterday stating that Egg had agreed to refund me 100% of the fee plus 8% per year interest total of about £4,100 what a RESULT.....

So why would a company like EGG refund me £4,100 if they had NOT mis-sold me.........Of course they had otherwise I would have got nothing.

The lesson here is to remember if you believe you have been mis-sold don't take NO for an answer, keep chasing them, and remember if you apply via the phone, all calls are recorded and may contain the proof you need to get your money back so ask for a transcript of the calls, that's what got me my money back!

Good Luck
Promanuk

gerryscot

Promanuk wrote: »

Hi Martin

Just wanted to say a big thank you for providing the advice and template letter on how to reclaim PPI from my lender. I wrote to Egg Plc some 6 months ago using your template letter.

I believe I had been mis-sold PPI when I took out a £15k car loan 4 years ago, the charges for PPI were £3900.

After 8/12 weeks their first response was to deny my claim (standard reply to every claim I think, they hope you will just go away) I insisted that they listen to the original recording of my telephone application, after a few weeks they wrote back stating that they had reviewed the call and I had not been mis-sold and that was the end of the matter as far as they were concerned.

Again just another attempt to make me go away!!!

I called them requesting a transcript of all calls which related to my application, so i could review what had actually been said during the calls. As I knew the call centre person had told me taking out PPI would ensure I qualified for the loan.

Meanwhile I wrote to the FOS asking them to investigate my claim.

Meanwhile I continued chased EGG for the transcripts of the calls, once again they just tried to put me off by saying "The Legal department were reviewing my request and they had not mis-sold me PPI"

I received a letter from the FOS yesterday stating that Egg had agreed to refund me 100% of the fee plus 8% per year interest total of about £4,100 what a RESULT.....

So why would a company like EGG refund me £4,100 if they had NOT mis-sold me.........Of course they had otherwise I would have got nothing.

The lesson here is to remember if you believe you have been mis-sold don't take NO for an answer, keep chasing them, and remember if you apply via the phone, all calls are recorded and may contain the proof you need to get your money back so ask for a transcript of the calls, that's what got me my money back!

Good Luck
Promanuk

Congratulations Promanuk :j:j:j:j:j:j:j:j:j

Great news another MSE winner Yippee. :T:T:T:T:T:T:T

Well done ..:A:A:A

Gerry x x :beer::beer:

gerryscot

laverslomax wrote: »

:jHi , In October 2009 i sent of the first template letter to Welcome Car Finance to claim back PPI on a car loan we took out in 2005, I had to also send the second and third letters, they did correspond back to me keeping me up to date with the claim, and i did fill out a questionaire , however today 30 January 2010 i have a letter stating they are going to refund all my PPI plus interest, a huge £3807.89,
I would just like to say to anybody claiming DO NOT GIVE UP, also thankyou to members who have helped me,
please look at other posts i have made to see how the claim progressed...:T this website is the BEST !:rotfl:

Yippee, Well done laverslomax..:j:j:j:j:j

Great news another MSE winner . :T:T:T:T:T:T:T

Gerry x x :beer::beer:

galei

we have claimed back over 14k recently from various institutes and i must say barclays were by far the most professional and citi cards the pits, what i find on this site it is not just about claiming back money but a whole education for the likes of us who are not to clever with money, not like some of the people on here who think there sh-t does not stink, they need to get a life ,it is not all about thinking you are perfect they would be better of being positive and helpfull and not run people down who are trying to get out of a mess,we have found on the whole these banks etc are not the enemy and will hold there hands when wrong galei

vwkombi1968

I feel a bit stupid really ive have been offered a settlement from First Plus a mis-sold PPI but I dont understand is can anyone help?

The wording in their letter reads?

Account one
I would like to offer you a full refund of the insurance premium of £5k plus the interest paid on it through the term of your loan*, Less any rebate you have already recieved in the settlement figure (£5K).

Account two
I would like to offer you a full refund of the insurance premium of £6k plus the interest paid on it through the term of your loan*, Less any rebate you have already recieved in the settlement figure (£1K).

does this mean I will not get anything for the first account ? please can anyone help seems double dutch to me

Thanks

amersall

vwkombi1968 wrote: »

I feel a bit stupid really ive have been offered a settlement from First Plus a mis-sold PPI but I dont understand is can anyone help?

The wording in their letter reads?

Account one
I would like to offer you a full refund of the insurance premium of £5k plus the interest paid on it through the term of your loan*, Less any rebate you have already recieved in the settlement figure (£5K).

Account two
I would like to offer you a full refund of the insurance premium of £6k plus the interest paid on it through the term of your loan*, Less any rebate you have already recieved in the settlement figure (£1K).

does this mean I will not get anything for the first account ? please can anyone help seems double dutch to me

Thanks

hi there, are both accounts settled? on account 0ne do you know what rebate they gave you on the settlement figure,as that is what will come off the 5k. then add interest at 8%.same with the second loan (if this is paid off.) if on the first loan they are saying they gave you all the ppi of 5k back as a settlement figure, i dont think so !!!! fp arent as nice as that. if the above figures are right on the first loan ( wouldnt think so!) then you will get 5k plus interest less 5k so you get interest for that loan, on second loan you get 5k back, less the1k then interest on that, am almost sure the first loan doesnt sound right. you have to watch fp they are slippery caracters!

vwkombi1968

Hi thanks amersall for your response to this, yes both loans are settled as far as I can remember we didnt get a rebate on the first loan but then I might be mistaken I took a loan out with them and then took more out sometime after the first account i thought was settled.

Should I respond to them asking for more clarification about theses figures?

koala77

Hello

The adjudicator at the FOS has upheld my complaint for mis-sold PPI. The company however are disputing this and dragging the whole thing out.

Can anyone tell me what sort of figure I would be looking at to get back please?

I took out the loan for £30,500 in October 2007 with a PPI premium of £6777. The PPI component of my monthly payment was £92. I made 5 payments before cancelling the PPI cover and got a rebate of £2264. I settled the loan in full in August 2008. The settlement figure was £36,100 after 9 monthly repayments (5 with PPI and 4 without). Hope that makes sense!

Thanks.

amersall

vwkombi1968 wrote: »

Hi thanks amersall for your response to this, yes both loans are settled as far as I can remember we didnt get a rebate on the first loan but then I might be mistaken I took a loan out with them and then took more out sometime after the first account i thought was settled.

Should I respond to them asking for more clarification about theses figures?

hi there, yes i would. because you should get back the ppi you paid to the loan settlement date, less any rebate but only ppi rebate not the actual loan rebate, hope you understand what i am saying? the loan settlement figure should have no effect on the ppi rebate figure. have you the agreements as you could maybe see for yourself what the original figures were, and you should have settlement sum in writing when you settled the loans. i would check all your paper work and give them a ring and ask how the figures they gave you were worked out. they may be right but as i said i wouldnt trust fp at all.please keep me posted, someone else may come on and maybe understand better what fp have done and will help you with this. but i dont see how they gave you the full ppi amount back for the first loan as a rebate.i think marshalka may be more knowledgable than me with this being 2 loans if she comes on i am sure she will be a great help with this