PPI Reclaiming successes and failures

di3004

diamond_mum wrote: »

still waiting to hear back from lloyds but I suppose its still early days, this is our first ppi claim. Still got a lloyds cc and car loan ppi to do, but want to see how we do with this first. Sent our first letter off on the 5th they received 8th I think, checked this as we sent it recorded post.

Just wondering has anyone had any joy with lloyds ppi claim? Do you have to keep on at them etc?

Hi there

Just to wish you luck and to share my experience with you in regards of LLoyds, at first this was about 2008, I complained about the credit card ppi, which was sold to me in 2001, I was receiving just the children's benefits, they did not uphold, but the FOS did uphold in my favour.

In November 2009 I then complained of a few loan PPI's with them, they gave an offer in Jan but I was not happy, and reminded them of the fOS upholding on the credit card ppi and other reasons, where they did not seem to fully investigate this complaint or give any findings for.
So even though that was the final response, I stated the above to them after this and then suddenly they upheld in our favour.

Its the case of trying to be ahead of them and keep strong and stand your ground, they will soon resolve in your favour.
Just wish I was that little stronger with this reclaiming issues when I first made a start in previous years.
But still we got there in the end.

Good luck with yours, fingers crossed.;):)

bl0tt4

Hi, am new to this so bear with me please!

Took a personal loan out with Abbey 3 years ago. It was a 6 year loan and PPI was included which I was happy about.

I am now a full time degree student so cancelled the PPI this week as it was no longer valid. When I asked about the percentage refund as specified in my policy booklet I was told "We have never heard of this" and after a bit of shuffling about at the other end of the phone I was told I would get no refund and it was being passed to the admin team for investigation.

Further phone calls today revealed "We may have spread the refund over the remaining loan repayments" which says that there IS a refund!

I then rang the complaints team who told me I would get a call tomorrow to say whether I woulod get a refund or not.

According to the policy booklet I should get at least 24% of the original PPI cost. If they keep saying no I will have to go down the miss-selling route as the policy document is misleading. Has anyone else had experience of this?

di3004

bl0tt4 wrote: »

Hi, am new to this so bear with me please!

Took a personal loan out with Abbey 3 years ago. It was a 6 year loan and PPI was included which I was happy about.

I am now a full time degree student so cancelled the PPI this week as it was no longer valid. When I asked about the percentage refund as specified in my policy booklet I was told "We have never heard of this" and after a bit of shuffling about at the other end of the phone I was told I would get no refund and it was being passed to the admin team for investigation.

Further phone calls today revealed "We may have spread the refund over the remaining loan repayments" which says that there IS a refund!

I then rang the complaints team who told me I would get a call tomorrow to say whether I woulod get a refund or not.

According to the policy booklet I should get at least 24% of the original PPI cost. If they keep saying no I will have to go down the miss-selling route as the policy document is misleading. Has anyone else had experience of this?

Hi and welcome.

Can you remember when you were sold this if you were aware of this ppi, or did they just add it etc?
If this is the case or for some other mis selling reason maybe it would be best to go the mis selling route.

But it seems you have a case anyway in regards of cancellation and if they were to refund they should to what I am aware of follow the rules in the policy terms and conds of the policy document. But maybe you should consider this on the mis selling side of it if you have been mis sold in the first place, this way if successful they must put you back in the position as if PPI was not taken out, plus you receive the interest etc....

Always make sure all correspondence in writing in case you need to move this on the Financial ombudsman service (FOS), so you can forward copies of what you have received enclosed with the FOS complaints form.

For more on the mis selling and guidelines check out this link here:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Good luck with this, please keep us posted and ask for help if required.

Ridgmont

I recently read the article on PPI reclaim, I recalled taking out a couple of loans 8 or 9 years ago for my first car. I obtain 2 loans over 3 yeasr from EGG FINANCE.
I read the articles online about successes in reclaiming from EGG FINANCE.

So I figured, with nothing to lose and the loans well paid off by now I'll give igt a go.

I contacted them and it became apparent, as I thought, I did have PPI on both loans. One of the loans I had paid off early but the pro rata PPI I paid was £485.35. Another loan ran its full term and total PPI I paid was around £170.00.

I called EGG to log a complaint, I followed this up with a written letter using the template on this site. I also emailed them through their secure website - they weren't going to ignore me!

I edited the letter template accorrding and was even able to recall the salesperson, a female, stating "because its your first loan, the PPI would make it more likely you got the loan". At 19 years old, with no knowledge of "credit" I thought it was compulsory and took her words as gospel. Needless to say I included this quote in my letters.

Within 3 days I received a letter saying they were looking into the matter and just 2 days after this....confirmation, complaint upheld and I'll be recieving a full refund by cheque in the next 10-14 working days.

I got the whole matter (which I had never raised for over 5 years) resolved in less than a fortnight, I understand I'm a lucky one but I emplore everyone to give it a go. It takes a couple of hours, and some decent letter writing which this site can help you with. Plus, lets face it, if the loans paid off - its free money!

Good luck to everyone reclaiming, finance organsiations have had it their way for so long and many appear to have taken advantage of ill-informed people. Time for the public to be in control again!

good luck to all and a massive thankyou to martin and the team.

amersall

:beer::j:jcongrats to all winners this week:money:well done:T:T

di3004

Ridgmont wrote: »

I recently read the article on PPI reclaim, I recalled taking out a couple of loans 8 or 9 years ago for my first car. I obtain 2 loans over 3 yeasr from EGG FINANCE.
I read the articles online about successes in reclaiming from EGG FINANCE.

So I figured, with nothing to lose and the loans well paid off by now I'll give igt a go.

I contacted them and it became apparent, as I thought, I did have PPI on both loans. One of the loans I had paid off early but the pro rata PPI I paid was £485.35. Another loan ran its full term and total PPI I paid was around £170.00.

I called EGG to log a complaint, I followed this up with a written letter using the template on this site. I also emailed them through their secure website - they weren't going to ignore me!

I edited the letter template accorrding and was even able to recall the salesperson, a female, stating "because its your first loan, the PPI would make it more likely you got the loan". At 19 years old, with no knowledge of "credit" I thought it was compulsory and took her words as gospel. Needless to say I included this quote in my letters.

Within 3 days I received a letter saying they were looking into the matter and just 2 days after this....confirmation, complaint upheld and I'll be recieving a full refund by cheque in the next 10-14 working days.

I got the whole matter (which I had never raised for over 5 years) resolved in less than a fortnight, I understand I'm a lucky one but I emplore everyone to give it a go. It takes a couple of hours, and some decent letter writing which this site can help you with. Plus, lets face it, if the loans paid off - its free money!

Good luck to everyone reclaiming, finance organsiations have had it their way for so long and many appear to have taken advantage of ill-informed people. Time for the public to be in control again!

good luck to all and a massive thankyou to martin and the team.

Hi and welcome.

Well done and Congratulations that is fab.:beer::T:j

marjsim

Tackled Northern Rock by following your guidelines and received £1500 refund Many thanks:j

di3004

marjsim wrote: »

Tackled Northern Rock by following your guidelines and received £1500 refund Many thanks:j

Brilliant :T:jCongratulations :beer:

Elliekate77

Received a cheque today from Black Horse Finance, they were given 12 weeks by the FOS to refund me and it is now the end of the 11th week! I got back £500 including interest and £200 compensation. It all helps!!!

di3004

Elliekate77 wrote: »

Received a cheque today from Black Horse Finance, they were given 12 weeks by the FOS to refund me and it is now the end of the 11th week! I got back £500 including interest and £200 compensation. It all helps!!!

Brilliant, well done and Congratulations :T:beer::T