PPI Reclaiming successes and failures

K1RST1E_2

Evening All,

So I contacted the adjudicator at the FOS today regarding the PPI refund. He has asked to see their breakdown of the PPI refund and my statements, so I have sent it all over to him.

I noticed that despite having the interest calculated at the start of the loan, they also charged me a monthly interest aswell. Therefore, despite paying £155.95 over 36 months to clear the loan with the PPI still intact, I still owed them more as they were calculating more interest per month. I worked out that they have charged me over £800 extra in interest over the term of the loan & that's just what I can see!!

I'll keep you posted ... I think the finishing line is in sight!!

Oh, and well done to all the recent reclaims!!!

di3004

K1RST1E wrote: »

Evening All,

So I contacted the adjudicator at the FOS today regarding the PPI refund. He has asked to see their breakdown of the PPI refund and my statements, so I have sent it all over to him.

I noticed that despite having the interest calculated at the start of the loan, they also charged me a monthly interest aswell. Therefore, despite paying £155.95 over 36 months to clear the loan with the PPI still intact, I still owed them more as they were calculating more interest per month. I worked out that they have charged me over £800 extra in interest over the term of the loan & that's just what I can see!!

I'll keep you posted ... I think the finishing line is in sight!!

Oh, and well done to all the recent reclaims!!!

Good for you.......:T:T
Good luck with this then.:beer:

robbedofmymoney

K1RST1E wrote: »

Evening All,

So I contacted the adjudicator at the FOS today regarding the PPI refund. He has asked to see their breakdown of the PPI refund and my statements, so I have sent it all over to him.

I noticed that despite having the interest calculated at the start of the loan, they also charged me a monthly interest aswell. Therefore, despite paying £155.95 over 36 months to clear the loan with the PPI still intact, I still owed them more as they were calculating more interest per month. I worked out that they have charged me over £800 extra in interest over the term of the loan & that's just what I can see!!

I'll keep you posted ... I think the finishing line is in sight!!

Oh, and well done to all the recent reclaims!!!

the FOS will look at this for you properly and fully understand what has happened and why, if Welcome have done anything else wrong/mi-leading, i'm sure they will be made to offer you some additional form of compensation for the distress they have caused you.

Billythedog.

Needed to write to say thank you very much for your help.

Following a telephone call from one of the many companies out there trying to help recalim PPI and after a lengthy conversation with one of these people I thought why use a third party to recover my monies and not do this myself. I was then prompted even more once I heard they would take 28% of any monies recovered.

Between myself and my wife we have taken out various loans in the past with several companies and on more than one occasion have taken out the PPI.

One of the loans was with Picture Finance. On reading several articles I realised Picture had gone into financial difficulties themselves and I thought I was on a hiding to nothing trying to reclaim any PPI. Still I thought I would give it a try.

The loan we took out was for £30k with PPI of £7485.00. I know it is crazy but at the time we needed the monies and had no option.

Fortunately several months later our situation changed and we were able to pay this loan off. However again until that phone call mentioned above I thought these monies had gone.

After following the templates on your website I wrote to Picture Finance (November 2009) and was advised to contact the FSCS which I did immediately. We then had to complete a lengthy form explaining how I felt we had not had the PPI explained properly and that by taking out the PPI would help in qualifying for the loan.

A couple of calls during January and February have now resulted in the receipt of a cheque for just under £9k.

We did the same with M & S which resulted in £600.00 return and I am currently in the process of claiming from MBNA which at the moment seems to be progressing nicely also.

Don't know who to thank more - the lady who phoned me wanting to charge 28% of the above monies or yourselves for guiding me through the process.

For anyone who is hesitating on making these claims - don't.

GO FOR IT IT IS EASY!!!

THANKS MARTIN!!!:beer:

di3004

Billythedog. wrote: »

Needed to write to say thank you very much for your help.

Following a telephone call from one of the many companies out there trying to help recalim PPI and after a lengthy conversation with one of these people I thought why use a third party to recover my monies and not do this myself. I was then prompted even more once I heard they would take 28% of any monies recovered.

Between myself and my wife we have taken out various loans in the past with several companies and on more than one occasion have taken out the PPI.

One of the loans was with Picture Finance. On reading several articles I realised Picture had gone into financial difficulties themselves and I thought I was on a hiding to nothing trying to reclaim any PPI. Still I thought I would give it a try.

The loan we took out was for £30k with PPI of £7485.00. I know it is crazy but at the time we needed the monies and had no option.

Fortunately several months later our situation changed and we were able to pay this loan off. However again until that phone call mentioned above I thought these monies had gone.

After following the templates on your website I wrote to Picture Finance (November 2009) and was advised to contact the FSCS which I did immediately. We then had to complete a lengthy form explaining how I felt we had not had the PPI explained properly and that by taking out the PPI would help in qualifying for the loan.

A couple of calls during January and February have now resulted in the receipt of a cheque for just under £9k.

We did the same with M & S which resulted in £600.00 return and I am currently in the process of claiming from MBNA which at the moment seems to be progressing nicely also.

Don't know who to thank more - the lady who phoned me wanting to charge 28% of the above monies or yourselves for guiding me through the process.

For anyone who is hesitating on making these claims - don't.

GO FOR IT IT IS EASY!!!

THANKS MARTIN!!!:beer:

Fantastic :T:TWell done:j And congratulations.:beer:

pau1rs

Had a reply from tesco cc yesterday refusing my claim with evidance that I signed the form for the ppi, so may as well send it to the ombudsman as I'm sure I was missold the policy,

only problem now is that I totally forgot I sent this one and thought this was for a tesco loan ppi, which I'm now going to have to resend, as never got any corespondance back on, so another 3 month wait now

ellgirl

Hi All

Just to let you know, I have received my reply from Barclayloan, they are going to refund £3525.54 PPI and 8% interest. Only 1 letter sent, so for anyone out there who is sat there thinking about this, just do it, you have nothing to lose.

Can't thank Martin enough for this site, it has completely changed my financial situation. 8 weeks ago I didnt know which way to turn with my finances, now the future is looking much brighter!

Thank you, Thank you, Thank you.

sunnygirls

ellgirl wrote: »

Hi All

Just to let you know, I have received my reply from Barclayloan, they are going to refund £3525.54 PPI and 8% interest. Only 1 letter sent, so for anyone out there who is sat there thinking about this, just do it, you have nothing to lose.

Can't thank Martin enough for this site, it has completely changed my financial situation. 8 weeks ago I didnt know which way to turn with my finances, now the future is looking much brighter!

Thank you, Thank you, Thank you.

Well Done im soooo pleased for you :j:j

di3004

pau1rs wrote: »

Had a reply from tesco cc yesterday refusing my claim with evidance that I signed the form for the ppi, so may as well send it to the ombudsman as I'm sure I was missold the policy,

only problem now is that I totally forgot I sent this one and thought this was for a tesco loan ppi, which I'm now going to have to resend, as never got any corespondance back on, so another 3 month wait now

Hello there

If this was not the final decision - I would write back again, hopefully they will overturn it, if you have further information to send, of if you feel they have not investigated thoroughly, and missed some findings do also let them know this, they should then even consider taking another look.

One of mine a few weeks back - different bank, although they did give an offer as an all in one with 2 loan ppi's, enclosed with one acceptance slip, It was their final infact only decision, the offer we were not happy with, nor did they investigate all our reasons, we pointed this out to them, also mentioned about previous reclaims where the FOS upheld in our favour in regards of other finance with them, and they soon overturned and sending out 2 acceptance forms now for each.
However, still waiting for them to come through and have had to chase them up.

As you know though the FOS can take some time before they deal with these complaints due to large volumes, but obviously if its come to that stage, you obviously have to move on to them.

Good luck with this.

Di

di3004

ellgirl wrote: »

Hi All

Just to let you know, I have received my reply from Barclayloan, they are going to refund £3525.54 PPI and 8% interest. Only 1 letter sent, so for anyone out there who is sat there thinking about this, just do it, you have nothing to lose.

Can't thank Martin enough for this site, it has completely changed my financial situation. 8 weeks ago I didnt know which way to turn with my finances, now the future is looking much brighter!

Thank you, Thank you, Thank you.

Fantastic :T:T
Congratulations and well done.:beer: