PPI Reclaiming successes and failures

gc10

What were you reclaiming: Loan
Who was the provider: AA(HBOS)
How much did you get back: £3200
Did you get it back after a letter or did you go to the Financial Ombudsman: One letter!!!!!!
And then write your brief reclaim tale
I thought that i would give reclaiming my ppi a go as i had nothing to lose. I didnt think that i would get anything back but sent the letter anyway. A few days later i recieved a generic letter explaining that they are dealing with my request but it may take some time and but i would hear something by feb 1st.

After being away, i picked up my letter telling me they agreed i had been missold and they would send me a letter with a break down of how much i will get back. That day i got that letter telling me i will get £3200 back and that this will get taken off of my loan! This leaves me with one reduced payment to make.

I took out the loan when i was young and stupid and didnt realise the financial impact that a five year loan would have on my future (i just went for the cheapest monthly option) but now i can look forward to paying off the small debt i have and going on fantastic holidays.

I would like to thank Martin and everyone at the site for all the provided information (not just on ppi reclaiming). It has changed my life for the better as im sure it has for many others.

Thanks again

zoehope

I just wanted to add my sucess story to the thread....

I've been on a bit of a mission over the past few months to reclaim monies owing to me, as I'm getting married in May and could really do with the extra cash! I managed to claim back some £250 from Virgin CC just before christmas and this gave me the confidence to try and reclaim the PPI I had paid on my existing Egg loan. While I had cancelled the PPI about a year ago, I wasn't sure if I could reclaim what I had already paid, but after reading the advice on this thread, i knew it was worth the 10 minutes to adapt the template letter and send it in the post. My grounds for reclaiming were that Egg told me that the only way I could secure the loan was through taking out the PPI.

I was absolutely up for the reply from Egg to be a negative one, but to my complete and utter surprise, their reply came within 14 days of the letter being sent and they said that they agreed that I was miss-sold my PPI and that they would be refunding the full amount paid- plus interest!!! That equated to £2180!!!

I'm so over the moon with this result and would urge anyone else to do the same. It's amazing how banks have been able to get away with so much deception over the years- it's time we got a fair deal.

Thanks to Martin and the team- you're my Hero!

di3004

nightmail wrote: »

Happy to report success following a very short claim. Bare facts are that my wife was sold a PPI on a substantial loan and after she finally let me read the policy wording I noticed that she would only get life cover after retirement age yet they were charging £110 a month and she was 12 months off retirement age at the time she took the loan (although she had no intention of retiring but that doesn't wash with them).

Rapidly cancelled the PPI and substituted with a reducing term legal & general policy (for £9 a month !!) and got a refund of the unexpired portion of £2,500.

Waited for cheque to clear then used the template letters and claimed misselling on the basis of no alternative being offered. Took the letter to the bank and got them to stamp a copy of it as received. Heard nothing after the allotted period and after a further week she went to the bank again with the second letter. The manager told her she had no chance but would send the second letter off to the Insurance department at Cardiff. TWO DAYS later got a reply - will look into it and expect a response with 6 weeks. NEXT day got a second letter upholding the complaint and asking for confirmation that their proposed method of dealing with it was acceptable in which case they would calculate the payment plus 8% interest.

Accepted that and within 7 days got the last letter advising the amount. We were expecting about a further £4,000 on top of the refund already received - amount being paid is £7,057 making £9,507 in all.

Thanks MoneySavingExpert.com - you really gave us the tools to work with.

:beer: :kisses3:

Brilliant :T:T
Well done and Congratulations.:beer:

di3004

gc10 wrote: »

What were you reclaiming: Loan
Who was the provider: AA(HBOS)
How much did you get back: £3200
Did you get it back after a letter or did you go to the Financial Ombudsman: One letter!!!!!!
And then write your brief reclaim tale
I thought that i would give reclaiming my ppi a go as i had nothing to lose. I didnt think that i would get anything back but sent the letter anyway. A few days later i recieved a generic letter explaining that they are dealing with my request but it may take some time and but i would hear something by feb 1st.

After being away, i picked up my letter telling me they agreed i had been missold and they would send me a letter with a break down of how much i will get back. That day i got that letter telling me i will get £3200 back and that this will get taken off of my loan! This leaves me with one reduced payment to make.

I took out the loan when i was young and stupid and didnt realise the financial impact that a five year loan would have on my future (i just went for the cheapest monthly option) but now i can look forward to paying off the small debt i have and going on fantastic holidays.

I would like to thank Martin and everyone at the site for all the provided information (not just on ppi reclaiming). It has changed my life for the better as im sure it has for many others.

Thanks again

Great work, Congratulations and well done!:beer::T:beer:

di3004

zoehope wrote: »

I just wanted to add my sucess story to the thread....

I've been on a bit of a mission over the past few months to reclaim monies owing to me, as I'm getting married in May and could really do with the extra cash! I managed to claim back some £250 from Virgin CC just before christmas and this gave me the confidence to try and reclaim the PPI I had paid on my existing Egg loan. While I had cancelled the PPI about a year ago, I wasn't sure if I could reclaim what I had already paid, but after reading the advice on this thread, i knew it was worth the 10 minutes to adapt the template letter and send it in the post. My grounds for reclaiming were that Egg told me that the only way I could secure the loan was through taking out the PPI.

I was absolutely up for the reply from Egg to be a negative one, but to my complete and utter surprise, their reply came within 14 days of the letter being sent and they said that they agreed that I was miss-sold my PPI and that they would be refunding the full amount paid- plus interest!!! That equated to £2180!!!

I'm so over the moon with this result and would urge anyone else to do the same. It's amazing how banks have been able to get away with so much deception over the years- it's time we got a fair deal.

Thanks to Martin and the team- you're my Hero!

Wonderful :T:T
Well done to you, and Congratulations :beer:

kdday

February 2009 I used a solicitor to try and reclaim missold ppi from Welcome Finance on a no win no fee policy (2 old loans and 1 present loan). At the end of October 2009, Welcome made us an offer including interest to date on the first 2 loans and the current loan they were cancelling the ppi from the day we took out the loan and repaying it to us, and altering the loan to reflect the new repayments. We signed for this and were quite happy thinking by Christmas we would have the money in our sticky little fingers (my husband lost his job in October so the money was desperately needed). During this time we were late with a couple of weekly payments and they hounded us till we paid it. By January 2010 we still had not received the payment they offered us. I contacted my solicitor and was told that with Christmas and staff being off ill they were running behind with sending out cheques. As of today we have still not received payment. So again phoned my solicitor, who happens to be on holiday this week. Does anyone know how long it takes for Welcome to payup. They have now had 3 1/2 months of interest on the money they owe us, which theyn probably won't add on as we have already signed to accept their offer. They hounded us day and night when we owed 2 weekly payments. Do you think they are going to pay up or are they waiting for the new financial year? Success or failure??? :mad:

corsavan

Claim for Halifax unsecured loan, Halifax CC, Egg CC.

Reclaimed £3780.12, £1142.81, £979.37. All claims required just the first letter. Total = £5902.30!!

My girlfriend had these loans for a few years, and so we looked into reclaiming on this site to help her with her repayments. With the payout she has cleared her credit cards altogether (instead of making minimum payments) and loan payments have been reduced. The main reasons given for mis-selling were the fact she wasn't quoted a price for the loan without insurance, and she was also studying whilst paying PPI so would not have been able to claim. Even the credit agreement for halifax CC had an unticked box for PPI!

Thanks to all on the forums for the advice and helpful information. :T

di3004

kdday wrote: »

February 2009 I used a solicitor to try and reclaim missold ppi from Welcome Finance on a no win no fee policy (2 old loans and 1 present loan). At the end of October 2009, Welcome made us an offer including interest to date on the first 2 loans and the current loan they were cancelling the ppi from the day we took out the loan and repaying it to us, and altering the loan to reflect the new repayments. We signed for this and were quite happy thinking by Christmas we would have the money in our sticky little fingers (my husband lost his job in October so the money was desperately needed). During this time we were late with a couple of weekly payments and they hounded us till we paid it. By January 2010 we still had not received the payment they offered us. I contacted my solicitor and was told that with Christmas and staff being off ill they were running behind with sending out cheques. As of today we have still not received payment. So again phoned my solicitor, who happens to be on holiday this week. Does anyone know how long it takes for Welcome to payup. They have now had 3 1/2 months of interest on the money they owe us, which theyn probably won't add on as we have already signed to accept their offer. They hounded us day and night when we owed 2 weekly payments. Do you think they are going to pay up or are they waiting for the new financial year? Success or failure??? :mad:

Hi there

First of all well done.:beer:
But am sorry to hear of the situation your in here waiting for your money, and of course with your hubby losing his job too - been there and its not nice it it?
I hope things will get better for you.
However, as this was dealt with by the solititors I am not sure how this works, normally after signing and excepting, the norm is that of at least a month hence the backlogs.

Maybe someone will know more who have dealt with these by using a solicitors, meanwhile keep chasing and hope someone has some useful advice for you on this, fingers crossed.:)

di3004

corsavan wrote: »

Claim for Halifax unsecured loan, Halifax CC, Egg CC.

Reclaimed £3780.12, £1142.81, £979.37. All claims required just the first letter. Total = £5902.30!!

My girlfriend had these loans for a few years, and so we looked into reclaiming on this site to help her with her repayments. With the payout she has cleared her credit cards altogether (instead of making minimum payments) and loan payments have been reduced. The main reasons given for mis-selling were the fact she wasn't quoted a price for the loan without insurance, and she was also studying whilst paying PPI so would not have been able to claim. Even the credit agreement for halifax CC had an unticked box for PPI!

Thanks to all on the forums for the advice and helpful information. :T

Fantastic :T:T
Well done, great work - Congratulations to you both.:beer:

traz39

kdday wrote: »

February 2009 I used a solicitor to try and reclaim missold ppi from Welcome Finance on a no win no fee policy (2 old loans and 1 present loan). At the end of October 2009, Welcome made us an offer including interest to date on the first 2 loans and the current loan they were cancelling the ppi from the day we took out the loan and repaying it to us, and altering the loan to reflect the new repayments. We signed for this and were quite happy thinking by Christmas we would have the money in our sticky little fingers (my husband lost his job in October so the money was desperately needed). During this time we were late with a couple of weekly payments and they hounded us till we paid it. By January 2010 we still had not received the payment they offered us. I contacted my solicitor and was told that with Christmas and staff being off ill they were running behind with sending out cheques. As of today we have still not received payment. So again phoned my solicitor, who happens to be on holiday this week. Does anyone know how long it takes for Welcome to payup. They have now had 3 1/2 months of interest on the money they owe us, which theyn probably won't add on as we have already signed to accept their offer. They hounded us day and night when we owed 2 weekly payments. Do you think they are going to pay up or are they waiting for the new financial year? Success or failure??? :mad:

i have been waiting since 12th august and i still not recieved mine they said it would b about march that was just before christmas