PPI Reclaiming successes and failures

happyone1_2

Hi
I used your templates to reclaim PPI on several loans I had repaid with the major banks but was unsuccesful.

BUT

my claim for a loan repaid to Liverpool Victoria in 2005 was withheld and I was told I would be repaid just over £1800 which included interest at 8%. When I received my cheque I had been sent an extra months interest - total received £1900.

Thank you Martin this is a great bonus to my family.

lesdew

:j I received notification yesterday from the Financial Ombudsman that he has awarded me my misold PPI of £970 + interest from the Halifax. This claim has taken almost 18 months, and was done through the template letter on this site, it shows that it is certainly worth persevering, and I wish to thank Martin very much.

:j

rich_kim

DJStock wrote: »

Hi All,

Just wanted to say a huge thanks to Martin Lewis for the best day yesterday! I discovered the article about PPI on my personal loan with HSBC and I found that the cost of their product was about £3000 on top of my loan - which I didn't really pay attention to when I signed all the paperwork in April '07.

So after obtaining a quote from AntInsurance I walked into HSBC yesterday lunch time and said "Sorry guys, I've found a cheaper PPI product elsewhere and I want to remove your PPI on my loan but keep the loan in place..." and they did it there and then. 30 minutes of my lunch time to save bucket-loads of money.

Not only did they refund the PPI I've already paid for the last 10 months (£400!!) but it has reduced the loan value by about £2.5k and the monthly repayments have dropped by £40 effective from next month. AntInsurance have insured 75% of my income in case of accident, sickness and unemployment for £10.56 per month..... HSBC's cover costed £40 per month and only protected the loan repayment value - SO IT PAYS TO SHOP AROUND!!!

Martin Lewis you are a LEGEND - many thanks indeed!

Didn't they give you a load of hassle to do that??!?

I took out an HSBC loan and then went back to the branch 2 months later to try to cancel the PPI as I found it cheaper elsewhere and they told me they couldn't cancel just my PPI as I was outside the 30-day cooling off period!! If I cancelled it I'd have to cancel the whole loan and take out a new one with a higher rate of interest. Grrrr!!!!

In the process of trying to get it back through FO now......

Kim

ginnygee

SUCCESS AGAINST EGG

I have just received a letter from the FOS confirming that in their opinion, I was missold the PPI on my Egg loan and that Egg have agreed with them. I am therefore going to receive a cheque in the sum of £2,911.98 plus 8% interest.

Thank you Martin. I couldn't have done it without you. YIPPEE!!!!!!!!!!!!!!!!

bakersdozen

Reclaiming PPI on a Halifax B-Soc Loan - original PPI 1800 plus 380 interest on PPI - recieved cheque for 3200 including 1000 statutory interest after Financial Ombudsman took case on.

In 2000 took out 5yr loan with Halifax B-Soc, we were only granted loan if we took the PPI despite being clear that one of us was self employed and the other with current and pre-exisiting medical conditions. Halifax actually messed up the original loan 'set-up' which resulted in them having to cancel and re-start the whol thing one month later and meanwhile we never received any official PPi documents so had no chance to read / refuse it.

Approx 1mth before end of loan we realised that we had a case to claim on the PPI but Halifax refused on grounds of pre-existing medical conditions. Had several arguments in branch and exchanges of letters, all refused by them on the basis we had 30 days to inspect and refuse documents which had never been received and they accepted the loan was completed in an 'unusual' manner but could not explain why and had no records to indicate the cancellation / restart.

We received Halifax 'Final Letter' in April 2007 and involved the Financial Ombudsman in October 2007, they were absolutely brilliant and in April 2008 they reached agreement for full repayment of PPi plus interest - furthermore they chased up the Halifax when in June 2008 there was still no settlemnt and today we received the cheque.

Definitely thanks to Martin and the team initially for providing a guiding light and the moneysavers forum for their reports of success which made us realise it just may be possible even though we couldn't see any other reports of success with the Halifax at that time.

twizzle36

:j THANKS SO MUCH FOR THE TEMPLATE LETTERS AND ALL THE ADVICE ON RE-CLAIMING PPI INSURANCE. WE HAD A LOAN WHICH WE WERE PUSHED INTO HAVING PPI. WE HAD JUST PAID IT OFF BUT I REALLY FELT ANNOYED AT HOW MUCH THEY HAD CHARGED US FOR THE PPI. SO I DOWNLOADED MARTIN'S LETTERS AND DID EXACTLY AS HE SAID AND JUST 2 LETTERS LATER, WE ARE NOW £2500 BETTER OFF, THEY EVEN PAID THE INTEREST WE HAD LOST OUT ON. I CANNOT BELIEVE HOW SIMPLE IT WAS AND JUST HOW WILLING TO HELP THE BANK WAS. I FELT SO ELATED AND PLEASED THAT I HAD GOT BACK AT ONE THESE GRABBING BANKS.
SO IF YOU ARE DOUBTING THE IDEA OF TRYING TO CLAIM BACK YOUR MONEY, JUST GO FOR IT. ONLY 2 FIRST CLASS STAMPS AND A LITTLE TIME WRITING THE LETTERS COULD LEAD TO A SUCCESS LIKE OURS.
YOU REALLY KNOW YOUR STUFF MARTIN......:T

dorien

Well done Twizzle 36.What was the bank you reclaimed from. Your so lucky to get it back so quick, I have two thats gone to the Omubudsmen, taking ages.

scotty247

I took a loan out with lloydstsb in 2001 for £14000.00. £3026 was added for ppi that she told me because I was only 24 I would need to take out to be succesful in my application, this brought my loan to £17026. I finished my loan in 2006 and paid a total of £21500 back. yeouch. Thanks to martin I have just been awarded the full £3026 with interest back. Lovely. And a big thank you to mr lewis.:money:

geoff62

neil_d wrote: »

Thank you Martin!!

I downloaded and sent the letter to get back my PPI back from Capital One having read this topic last week, and they have just rung me to say I'm getting a cheque for £104!! Result!! I only had the account for a few months, this is absolutely brilliant! Thank you!!

you luckey i was not

marshallka

rozzid wrote: »

I am so annoyed. :mad:

I started a claim against Capital One for mis-sold PPI insuracnce on a secured loan I had in 2004 with the reasons being that (a) it wasn't explained that due to a previous back injury I wouldn't be able to claim (b) it was suggested that Ihad to take it and (c) when working it out I think that even if I had been able to claim, the amount I would have been able to get was probably going to be less than the insurance in the first place.

I initially wrote to Capital One who almost immediately wrote back and said no, so I wrote to the Financial Ombudsman who eventually got back to me saying that my complaint was one they could not investigate futher due to the fact that when the policy was sold "Capital One were not regulated by the Financial Services Authority as an insurance intermediary and was not a member of the General Insurance Standards Council".

To be honest, I'm not entirely sure what this means other than that I am not able to get my £2,520 ppi insurance back. If anyone understands what they've said, please enlighten me as I believe this is really unfair especially as my complaint ticked quite a few of the 'mis-sold reasons' on Martins checklist.

Thanks

There is always the courts and people do win. Go to the discussions thread and someone will help you. Don't give up.