PPI Reclaiming successes and failures

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 for next to nothing!.

Good Luck to all.:T

maxdp

Hi Thanks for posting that. Well done to you am really pleased.:)

di3004

psautd wrote: »

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

Brilliant :j:T:T
Well done to you and Congratulations :beer:

285741

hi
contacted my bank last week and told to phone back next week but my claim has been upheld, my question is the ppi i claimed for, my loan was paid in full 3 years ago but can they take my refund towards a loan i have since taken out as i could really do with the money

di3004

285741 wrote: »

hi
contacted my bank last week and told to phone back next week but my claim has been upheld, my question is the ppi i claimed for, my loan was paid in full 3 years ago but can they take my refund towards a loan i have since taken out as i could really do with the money

Hi there

Well done :beer:

As long as there are no arrears then it should be refunded direct to you, good luck.;)

DCR_2

I wrote using the templates. This was for last 5 years on credit cards.

Alliance & leicester (part of MBNA) are paying back all contributions - some £1500. :j

MBNA wrote refusing payback! (Asking for £6000) Two different Case Managers.

I'm getting back to ask explanation of difference!
Think I've a good case here.
I'll threaten Ombudsman & see what happens.
Thanks Martin

di3004

DCR wrote: »

I wrote using the templates. This was for last 5 years on credit cards.

Alliance & leicester (part of MBNA) are paying back all contributions - some £1500. :j

MBNA wrote refusing payback! (Asking for £6000) Two different Case Managers.

I'm getting back to ask explanation of difference!
Think I've a good case here.
I'll threaten Ombudsman & see what happens.
Thanks Martin

Well done and Congratulations.:beer::T:beer:
Good luck on the other as well, keep at them and if not then yes move on to the FOS let them sort this for you otherwise, fingers crossed.:)

twinkledust

manchester1980 wrote: »

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

Hey

I'm unsure how much we are claiming to be honest because I'm unsure how to work it out...crap with figures too! They well and truely had us in a sticky situation as we were desperate at the time and they knew that so I feel they added anything in they possibly could knowing we were not in a position to turn it down...and got away with not explaining it to us...had we continued to pay the loan over the 15 year period then a £15000 loan was truning into £48000. They had their interest rate at 120% I feel sick every time I think on it now...I hadn't a clue at the time. I remortgaged my house and used equity to get rid of it less tha n 3 years into it I couldn't cope with it any longer. Let me know how you get on

twinkle x

di3004

Not posted my update yet, so here goes......, Lloyds sent out a letter of a revised amount on the 18th which was last week, I contacted them today and they had told me this, they then go on to say if we do not receive the "acceptances" by Thursday is to let them know.

We have a few loan ppi's going with them and these are so far on the 2 of those.

Originally they did send an offer prior to these and it was the only and final decision all in one, so did not even get the chance to have our say or to give further information if we wanted to.
But.......
because they did not actually have a finding for every reason we gave and they made a few mistakes on loan dates and amounts, I wrote back to tell them about these issues.
We were then told they were looking at them all over again.

Since then they have confirmed they have revised the offers as they looked at the letter with our reasons all over again.

Am thankful they have done this because originally it was the final one and they did give the usual details/leaflets of the FOS.

So now hoping its a better offer at least.
Fingers crossed.;)

victor_ray

I took out a HSBC Loan in April 2002 for £10,000 over 3 years, the cost of the interest was £1,523.90. I was also told that part of the loan was PPI which was compulsory even though I was self employed and had broken my back previously! The PPI cost with interest was £1,660.02 I can see why they were so eager to sell it to me.

Disheartened by the bank charges ruling I sent in the first letter to HSBC asking for a copy of the T&C of the agreement. I got a call back a month later from a representative saying that they destroy all details over 6 years old.

I wrote one letter to HSBC on the 17/12/09 using the template and got a reply that they were investigating my claim on the 29/12/09. On the 16/02/2010 I received an acceptance offer of £2,489.60. £1660.02 for the original PPI and £829.58 of interest at 8%.

Over the moon and thank you for your help