PPI Reclaiming successes and failures

got_it_back_2

firstly thank you Martin for making it so easy!
What were you reclaiming: PPI
Who was the provider: Natwest plc
How much did you get back: £3607.57
Did you get it back after a letter or did you go to the Financial Ombudsman: 1 letter to claim

i took a loan out for £15000 in 2004, paying £451 a month of which £75.35 was a premium for ppi. with Natwest
I sent a letter,mid November. i used the template that Martin has on this site. i recieved a reply saying they would be in touch within 4 weeks.

16th december i recieved a reply saying they were checking their records and hadnt finished their investigation, but would be in touch with in another 4 weeks.

On 12 Jan, i recieved another reply stating that they hadnt finished their investigation and hoped that i would allow them the time to finish the investigation, but in any event they would be in touch within 4 weeks.

On 9th Feb i recieved another reply saying they were still gathering information but if i choose i can contact the Financial Ombudsman Service.
i thought i wont hassle them yet

On the 11th Feb i recieved a letter saying briefly the following:
"On this occasion i have been unable to confirm precisely what information you was given at the time you purchased the policy. As a gesture of goodwill and without any admission of liability the bank is prepared to make you the offer detailed below,
The bank is prepared to refund the insurance premiums and interest that you have paid to june 2009. this excludes the amount of automatically credited to your loan account of £9.23 when the policy was cancelled. our calculations show that you have paid a total of £3607.57 for the PPI element of your loan!

To accept my offer please sign and return the declaration at the end of this letter. On reciept i will arrange for the money to be applied to your joint account.We anticpate making the payment within 28 days of reciept of the acceptance form.

So for the cost of a first class stamp and proberly 20 minutes checking and filling out martins template i am £3607.57 better off.

so claim you have nothing to lose

will update when the money hits my bank account

di3004

manchester1980 wrote: »

Hi I have received an offer from Welcome Finance :jand just want to check this is right. Sorry been chasing this for so long I don't trust them to offer the right amount as have never worked it out properly. The loan was taken out Dec 2004. the agreement says:

cash advance / amount of credit £15,000
medicare and lifecare 24 £300 + £350
payment protection £2,797.31
total cash price of insurance premiums £3,447.31
acceptance fee £235
mortagage indemnity fee £1,650.00
amount of credit £18,447.31
total loan amount £20,332.31 the montly payments were £320.60

the loan was settled 03/11/2005 and I paid £17.303.00
the reply offers:
ppi premium £2797.31
associated interest £207.98
8% interest £164.91
total £3170.20

they have deducted the early rebate of £1724.24 which leaves the offer at £1445.96.

Sorry for all the info (prob didnt need to out it all down) any advice on whether you think this is right would be great thanks!

Well done and Congratulations :beer::T:beer:

I'm not good at working out calculations sorry, but sure someone will be along to check them soon for you, good luck.;)

di3004

got_it_back wrote: »

firstly thank you Martin for making it so easy!
What were you reclaiming: PPI
Who was the provider: Natwest plc
How much did you get back: £3607.57
Did you get it back after a letter or did you go to the Financial Ombudsman: 1 letter to claim

i took a loan out for £15000 in 2004, paying £451 a month of which £75.35 was a premium for ppi. with Natwest
I sent a letter,mid November. i used the template that Martin has on this site. i recieved a reply saying they would be in touch within 4 weeks.

16th december i recieved a reply saying they were checking their records and hadnt finished their investigation, but would be in touch with in another 4 weeks.

On 12 Jan, i recieved another reply stating that they hadnt finished their investigation and hoped that i would allow them the time to finish the investigation, but in any event they would be in touch within 4 weeks.

On 9th Feb i recieved another reply saying they were still gathering information but if i choose i can contact the Financial Ombudsman Service.
i thought i wont hassle them yet

On the 11th Feb i recieved a letter saying briefly the following:
"On this occasion i have been unable to confirm precisely what information you was given at the time you purchased the policy. As a gesture of goodwill and without any admission of liability the bank is prepared to make you the offer detailed below,
The bank is prepared to refund the insurance premiums and interest that you have paid to june 2009. this excludes the amount of automatically credited to your loan account of £9.23 when the policy was cancelled. our calculations show that you have paid a total of £3607.57 for the PPI element of your loan!

To accept my offer please sign and return the declaration at the end of this letter. On reciept i will arrange for the money to be applied to your joint account.We anticpate making the payment within 28 days of reciept of the acceptance form.

So for the cost of a first class stamp and proberly 20 minutes checking and filling out martins template i am £3607.57 better off.

so claim you have nothing to lose

will update when the money hits my bank account

Fantastic :T:T
Congratulations and Well done!:beer:

K1RST1E_2

Hi Manchester1980,


That's great you have a settlement figure from Welcome Finance. I'm not too clued up on how PPI refunds are calculated but I wouldn't have expected them to deduct the early repayment discount from the total payable back to you ... but then again, it is Welcome Finance!


If you don't mind me asking, when did you submit your claim? I sent my acceptance form back to them following a year long investigation with them in November 2009. I'm hoping they are near to offering me a settlement figure!


Kirstie.

twinkledust

manchester1980 wrote: »

Hi I have received an offer from Welcome Finance :jand just want to check this is right. Sorry been chasing this for so long I don't trust them to offer the right amount as have never worked it out properly. The loan was taken out Dec 2004. the agreement says:

cash advance / amount of credit £15,000
medicare and lifecare 24 £300 + £350
payment protection £2,797.31
total cash price of insurance premiums £3,447.31
acceptance fee £235
mortagage indemnity fee £1,650.00
amount of credit £18,447.31
total loan amount £20,332.31 the montly payments were £320.60

the loan was settled 03/11/2005 and I paid £17.303.00
the reply offers:
ppi premium £2797.31
associated interest £207.98
8% interest £164.91
total £3170.20

they have deducted the early rebate of £1724.24 which leaves the offer at £1445.96.

Sorry for all the info (prob didnt need to out it all down) any advice on whether you think this is right would be great thanks!

Hi! firstly congrats on getting sum sort of joy out of welcome! I'm in similar position with them and our loan was also for £15,000. Do you mind me asking how long the loan was over when the agreement was taken out as ours was 15 years although we were led to believe it was 10 years through previous discussions...anyhow we paid ours off after 2 years 8 months and we still had a settlement figure of nearly £20,000 to give them! our monthly repayments were £271. I would have thought that they would've deducted their early rebate figure when you paid your loan off? Not when your claiming the mis-sold ppi.

Anyways hope someone will be along to help you with figures soon as it may give me a rough idea also although if welcome offer me not very much them am gonna kick up a fuss!

twinkle x

twinkledust

congratulations!!! got-it-back

great success!!!!!!!!!!

twinkledust

Elliekate77 wrote: »

Hi there

I have written a letter to littlewoods to try and claim back the Extra Care advantage insurance applied to my account. No surprise that they have replied saying they do not believe the policy has been mis-sold. They have said there is no signed paperwork and the advisor would have explained everything to me over the telephone. My question is can i ask them for a copy of the recorded telephone conversation? they have also stated that I am not entitled to 8% statutory interest and i would only ever get this in court at the judges discretion???? is this correct? or are they just trying to fob me off.

Lastly they have said that the FOS may not deal with my complaint as in was pre December 2003 and they were not a member of the dispute resolution service prior to this.

Advice please...

Many thanks

I'm in similar situation with my freemans catalogue and waiting on a reply from littlewoods as they say they will look into it and get back to me....I'm expecting the same response for them! If they send you their final response then it does no harm to contact FOS and see hat they have to say

twinkle x

leondp

di3004 wrote: »

Hi Leon, good one and keep chasing them, good luck, and look forward to hearing from you.:beer:

Di

I had a phone call response yesterday afternoon from a manager at MBNA to say very sory and it will be in my bank within two weeks (lets wait and see!!)

steelie2212

Thought I had better say a great big thanks.
We claimed back our ppi on 4 previous loans with Egg money (we wrote to citi bank).
We only wrote one letter, the first template off your site, claiming they mis sold us the insurance, within 2 weeks they replied saying they would refund the money and send cheques within 10 days for a total amount of £2800, we recieved the cheques the following week.
From start to finish it only took 3 weeks.
We didnt think we would get anything, for those of you out there who are sceptical, it does work, only takes minutes to write the letter, we are spreading the word to all we know.
Thanks again :j

ellgirl

Re-claiming Mis-sold PPI on car Finance
Provider - The Car Shop
£601.03 being refunded to me
2 of Martins letters sent.

Sent a letter for mis-selling of PPI on my car finance, received a reply saying they did not mi-sel the policy to me.
Sent a 2nd template letter and hey presto, received a reply back today to say they are refunding all my PPI payments to date and also the 8% interest. Also saving £20 per month on car payments. Happy Days!!! :j

Couldn't have come at a better time.

Thank you so much Martin for this site, just sent 2 more letters, 1 to barclays and 1 to Black Horse Finance.