PPI Reclaiming successes and failures

di3004

leondp wrote: »

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!!)

Hi Leon
Thanks for posting up with your update.
Keep a check on these 2 weeks then, fingers crossed.;)

di3004

steelie2212 wrote: »

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

Wonderful, well done and Congratulations, this is fab :T:T:beer::T:T

di3004

ellgirl wrote: »

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.

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

manchester1980_2

twinkledust wrote: »

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!

Hi Twinkle
We took it out over 10 years and it says 10 years on the agreement. The more I hear about them the more I wish I had given them a wide berth!! The way the letter reads it could be that they took it when the loan was paid off. Iam trying to ring them to clarify this. Do you now how much you are reclaiming? I wish I was better at figures. Also the 16 hundred quid for the mortgage indemnity fee makes me feel sick considering we paid it off in less than a year (hindsight is a beautiful thing)

good luck and I hope you get some joy soon x x

manchester1980_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.


HI Kirstie

I am querying the early repayment figure as I think it's weird too. I started my claim in mid oct and have only sent two letters. I just kept ringing the 0115 9849200 every week and asking for an update and I think they got fed up with me. Once I sign and send the acceptance form back I don;t know ho long it will take to receive the money...

Thanks and good luck with your claim
Carly

Cocorico123

Hi all - I've had my first success! Sent off various letters to creditors to reclaim ppi following some encouragement on here and hadn't heard much back other than the usual "we're looking into your claim" letters.

However I just checked my balance on my egg card and found it had been refunded £2487.12! Literally nearly fell off my seat as I was lamenting how high the balance was only yesterday! I now owe them £272.70 which I can clear in no time! Fingers crossed I get the same response from the rest of the letters I sent!

Thanks to Martin Lewis for his wonderful website and to all the lovely posters on here for encouraging me!

di3004

Cocorico123 wrote: »

Hi all - I've had my first success! Sent off various letters to creditors to reclaim ppi following some encouragement on here and hadn't heard much back other than the usual "we're looking into your claim" letters.

However I just checked my balance on my egg card and found it had been refunded £2487.12! Literally nearly fell off my seat as I was lamenting how high the balance was only yesterday! I now owe them £272.70 which I can clear in no time! Fingers crossed I get the same response from the rest of the letters I sent!

Thanks to Martin Lewis for his wonderful website and to all the lovely posters on here for encouraging me!

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

DanDaniel

Failed at trying to get PPI back .. any advice appreciated.

I put a complaint in to Bluesky finance after the FOS decided it was them that had to answer the complaint and not Welcome finance as they were the broker.

I had a loan last year from them, they included PPI on my loan as a lump sum. When i challenged this the salesman told me that if i decided to opt out at this stage my whole loan application would have to be scrapped and started again. He advised me to accept and cancel the policy after the loan had gone through. I cancelled soon after but apparently it was out of the cooling off period and so only had £4000 returned instead of £5300 that was lumped on top of my loan. I argued that they had done me out of £1300 and went ended up going down this lengthy complaint route. I complained in writing on the following grounds and underneath are the replies i have had in writing from them;

1.The sales agent told me to purchase the policy and cancel after completion of the loan. "at no point has blue sky finance ever required a customer to take out PPI as part of the loan acceptance criteria, not only this but all of our staff have been fully trained not to automatically include PPI... you received two seperate 7 day cooling off periods" they included photocopies of signatures where we agreed to ppi.

2.We did not advise you on what the policy did and did not cover.
"it is standard procedure for our sales agents to disclose the main exclusions from an insurance policy durinmg the initial telephone sales call. The demands and needs statement was sent to you which you signed.

3.We did not advise you the policy only covered 5 yrs of your loan.
"Bluesky is regulated by the FSA to provide an information only service. at no time do we ever provide advice to our customers and this is made clear in every sales call. You were provided with a key facts sheet prior to conclusion of the sale.The needs and demands statement was signed and dated which states this.

4. We did not advise you that the policy was payable by way of a single premium.
"our regulatory requirement is to disclose this both verbally and in writing. I cannot find evidence to suggest this did not occur. The total price of the PPI over the course of the loan with interest is £11314.97 you signed to accept this. The price of the PPI is further confirmed to you in the credit aggrement which you dated and signed.

5. you are unhappy with that when you cancelled the PPI policy you did not receive a full refund.
"This aspect of your complaint is concerned with the terms and conditions rather than the sale of the product. A such, this element of your complaint should go to Welcome finance. However prior to conclusion of the sale you were issued with a summary document which clearly sets out proportions of the premium refunded in the event of cancellation.

Therefore for the reasons set out above i am unable to uphold your complaint.


Not sure what or if to do anything now. :mad:

Also i am rather annoyed .. when i sent back the demands and need statement i crossed through where they had put PPI required and put in the comments box not suitable. We signed the bottom which meant we were signing to say we had refused PPI. Interestingly someone has scribbled out were i wrote not suitable and signed next to it now either they have a similar signature to me or they have tried to imitate my signature as its not the same. A clear indicator that it was not my intention to have ppi. Suppose they still have my signature on the credit agreement though ?

maxdp

Did they tell you that it was a FINAL RESPONSE?.

If not then write back to them re iterating your complaint. Give them 7 days to respond and then take it to the FOS.

psautd

Thank you Martin Lewis,:money:

3 years ago this site was pointed out to me by a friend for money off vouchers etc.

Little did I know that I was about to have an unexpected windfall or 2 or 3 or 4 you get the point.:j

As a stupid Teenager I got myself into massive problems with Loans & credit cards (as many do):(

I took out 3 Loans and a credit card with ABBEY/SANTANDER and a Loan & Credit Card with EGG, All of which had PPI.

I had these over around a 10 Year period, But was still able to reclaim back all the Money Plus interest .
I had a Pacemaker implanted at the age of 18 and beleived I was protected by the PPI incase of any problems,This is untrue as you are not protected against any illness you already have.
All the sales people were interested in was telling me what was covered and not what wasn't :mad: they also failed to ask me any questions regarding my health and this made all the policys mis-sold.

All I did was complete Template letters and post them off to the Banks. The responses were pretty quick but all came back negative claiming I should have read the smallprint.
I then forwarded all the information I had which in some cases was just the letter of response to the Financial Ombudsmen and slowly but surely things moved forwards.

3 years on I have 5 out of 6 of my claims repaid at £5000

Whatever your reasons, you have nothing to lose by trying. All it will cost you is a little time and a couple of stamps at the most.

I would advise against using these companys that will do it for you at a cost as it soooo Easy to do it yourself for next to nothing!.

Good Luck to all.:T