PPI Reclaiming successes and failures

northernfly_2

Hi Guys

It has been a long time since I have written as have had alot going on (interviews, getting a second job etc) anyway........

I was moving some things about and was starting to shred my old credit card and bank statements and I realised that I was paying insurance on my credit cards and had not even realised.

Looking at the reasons to reclaim I believe that I had 2 grounds

1. When I first got a credit card it was to cover me while I was travelling the world and therefore the banker who sold me the insurance knew I was making myself unemployed

2. When I took out subsequent cards with the same lender they automatically added the insurance as I had "had it before"

I have written (using the excellent templates) to Lloyds TSB (with who I held the cards) to ask for information on all charges that I incurred and will keep you informed of any progress. I then suddenly realised at the same time that I took out a graduate loan and once again was told to take out insurance even though I was making myself unemployed to go travelling!!

Hopefully I will be as lucky as some of the others on here.....................

Jussme

Reclaiming PPI.
The provider was Halifax.
Got back £871.00

On 17th October 2005 my partner went to our local Halifax branch to see if she could pay a lump sum off of an existing loan we already had with them. Instead the assistant manager convinced her to reduce the payments by, what he described as, taking out a continuation loan. He stated that this would merely be a continuation of the existing loan, and that all details would be the same as the loan we already had. She did this. At no time whatsoever did he mention PPI, (we had none on our current loan), He did not ask about pre existing medical conditions, he infact added the PPI without asking, or informing us.
In april 2006 I had to refrain from work due to an industrial injury. It was not untill October that we discovered we had PPI on the loan, & we attempted a claim, which was refused on the grounds of my injury being a pre existing medical condition. We did complain, but to no avail.
In October the following year I heard Martin Lewis on Steve Wright on radio 2 discussing PPI reclaiming, and my situation was as he described. I visited the MSE website & downloaded the Letter Templates. They refused our request for a refund. I sent the 2nd letter from the website. They did not bother to reply, so I contacted the Financial Ombudsman. They were very helpful, & easy to talk to. They said I had excellent grounds for a claim, and would allocate an adjudicator to our case. It appears that the F.O. contacted the Halifax, & they, all of a sudden, reversed their decision "as a gesture of goodwill"? We have now received a full refund of all payments made, plus 8% on each payment!!!
Thank you Money Saving Expert.com :beer:
To anyone else who is doing this, DO NOT give up!! They will protract this to wear you down. See this through to the conclusion.

:T

JJnap

The provider was Natwest.
I got £1671

After reading through the information on the 'Money Saving Expert' website I tried to claim back the PPI that had not only been missold to me with my current loan but also previous loans.

I found the whole process quite depressing but each obstacle and lack of efficiency by my bank in dealing with this strengthened my resolve further.

After using the letter template I received a reply only 4 days later. Only weeks later did I realise (and four letters later) this seemed to be a standard template reinforcing the message this was being looked into and offering me a leaflet of my options. If I had to go through this process again, I would have avoided these delaying tactics and opted to go to the Financial Obudsman Service much sooner.

The next stage, some 4 months later was to contact the Complaints Manager in Borehamwood. Following this letter using slightly stronger messages and a time limit I would be prepared to wait (2 weeks). I received no reply and sent a case off to the FOS.

The FOS know customer service. Although overwhelmed by the backlog of complaints you are treated like a real person and they understand your frustrations.

Only two weeks after contacting the FOS, Natwest contacted me with a settlement (this included removing the PPI from my existing payments). I'm not sure if my second letter or my contact with the FOS had any impact but it did seem quite strange these events coincided.

Today I checked to see if the bank had received my signed acceptance of the settlement amount but I was informed acceptance letters are in a backlog (approx. 1 week). However, just calling was a good move because it encouraged my case worker to look for it and move towards a faster settlement.

What they don't tell you is that even after receiving your signed agreement, payment takes 4-5 weeks. Why? Surely this adds insult to the laborious process of complaining. However, it also indicates many have complained successfully and are about to receive settlements and surely this is a good thing and perhaps the incentive any frustrated Natwest customer needs to make a PPI complaint.

eirelav1962

any advice to how to claim back ppi insurance on your credit cards any advice would be helpful as i have new to the site

Superluckycat

Recliamed PPI on a £5k Graduate Loan From HSBC
Got back £1,6000 including interest!!!! By using TemplateLetter from this site
Reason: For not explaining that the PPI was optional, AND for forcing me to take out another loan when they had forgot to include it on my orginal one.
EASY! Thank you so much!:rotfl:

eastbrook

We took out a loan with LLoyds TSB back in 2005 and was sold the dreaded PPI, after downloading the letter template and sending it off in April, we received a letter yesterday informing us of 'a goodwill gesture' of a full refund of the insurance policy of £5,100 plus interest, what a result after just one letter and a little bit of waiting.

Cheers Martin if I ever see you, you deserve a beer:beer:

Laini

Originally Posted by Laini
[FONT=Tahoma, Arial]We have recently received correspondence from the Financial Ombudsman Service [/FONT]
[FONT=Tahoma, Arial]regarding their review of your complaint and your acceptance of their [/FONT]
[FONT=Tahoma, Arial]adjudication.[/FONT]

[FONT=Tahoma, Arial]Their decision includes a recommendation that a full refund of the payment [/FONT]
[FONT=Tahoma, Arial]protection insurance premium plus any interest be refunded to you.[/FONT]

[FONT=Tahoma, Arial]In order to comply with this recommendation, please find enclosed an amount of [/FONT]
[FONT=Tahoma, Arial]£15,388.29 in respect of a full refund of the insurance premium and interest [/FONT]
[FONT=Tahoma, Arial]paid on the premium through the term of your loan. This amount is being [/FONT]
[FONT=Tahoma, Arial]refunded to you in order to put you in the financial position you would be if [/FONT]
[FONT=Tahoma, Arial]the insurance had not been taken, as laid out in the Financial Ombudsman's [/FONT]
[FONT=Tahoma, Arial]recommendation.[/FONT]

[FONT=Tahoma, Arial]When you settled your loan account a rebate of £4,121.10 was included in the [/FONT]
[FONT=Tahoma, Arial]settlement figure. This additional amount represents an additional refund of [/FONT]
[FONT=Tahoma, Arial]£13,021.90 to give a full refund of £17,143.00, and a refund of interest [/FONT]
[FONT=Tahoma, Arial]amounting to £1,774.54. This also includes an amount of £591.85 in respect of [/FONT]
[FONT=Tahoma, Arial]the 8% interest on £14,796.44 from the date your loan was settled to present.[/FONT]

[FONT=Tahoma, Arial]To clarify the details of the redress as set out in Mr Meredith's letter:[/FONT]

[FONT=Tahoma, Arial]a) Settlement figure paid including PPI and rebate £83,759.78[/FONT]
[FONT=Tahoma, Arial]of £4,121.10[/FONT]
[FONT=Tahoma, Arial]Total premiums paid including cost of PPI £8,390.90[/FONT]
[FONT=Tahoma, Arial]Total = £92,150.68[/FONT]

[FONT=Tahoma, Arial]b)Settlement figure assuming no PPI taken £70,614.02[/FONT]
[FONT=Tahoma, Arial]Total premiums paid assuming no PPI taken £6,740.22[/FONT]
[FONT=Tahoma, Arial]Total = £77,354.24[/FONT]

[FONT=Tahoma, Arial]c)Difference between a and b = £14,796.44 [/FONT]
[FONT=Tahoma, Arial]8% interest on £14,796.44 = £591.85[/FONT]
[FONT=Tahoma, Arial]cheque £15,388.26
thanks for all your help
Laini xx
[/FONT]

YEOSAL

Hi

Just to let you know, we lost in court today. The judge agreed with solicitiors that our claim was time barred as I would have known at the start that the insurance was of no use and I could have gone anywhere else for the loan. Judge said I was intelligent enough to know that I was being had and nothing had changed since I took the loan in November 2000 except that I have seen a tv programme and read some news article.

I would certainly advise caution on going to court if the claim is time barred, especially if you are in the least bit intelligent.

£415 down, but it was worth a shot. There is no justice in the world.

lemonhead_4

Laini wrote: »

Originally Posted by Laini
[FONT=Tahoma, Arial]We have recently received correspondence from the Financial Ombudsman Service [/FONT]
[FONT=Tahoma, Arial]regarding their review of your complaint and your acceptance of their [/FONT]
[FONT=Tahoma, Arial]adjudication.[/FONT]

[FONT=Tahoma, Arial]Their decision includes a recommendation that a full refund of the payment [/FONT]
[FONT=Tahoma, Arial]protection insurance premium plus any interest be refunded to you.[/FONT]

[FONT=Tahoma, Arial]In order to comply with this recommendation, please find enclosed an amount of [/FONT]
[FONT=Tahoma, Arial]£15,388.29 in respect of a full refund of the insurance premium and interest [/FONT]
[FONT=Tahoma, Arial]paid on the premium through the term of your loan. This amount is being [/FONT]
[FONT=Tahoma, Arial]refunded to you in order to put you in the financial position you would be if [/FONT]
[FONT=Tahoma, Arial]the insurance had not been taken, as laid out in the Financial Ombudsman's [/FONT]
[FONT=Tahoma, Arial]recommendation.[/FONT]

[FONT=Tahoma, Arial]When you settled your loan account a rebate of £4,121.10 was included in the [/FONT]
[FONT=Tahoma, Arial]settlement figure. This additional amount represents an additional refund of [/FONT]
[FONT=Tahoma, Arial]£13,021.90 to give a full refund of £17,143.00, and a refund of interest [/FONT]
[FONT=Tahoma, Arial]amounting to £1,774.54. This also includes an amount of £591.85 in respect of [/FONT]
[FONT=Tahoma, Arial]the 8% interest on £14,796.44 from the date your loan was settled to present.[/FONT]

[FONT=Tahoma, Arial]To clarify the details of the redress as set out in Mr Meredith's letter:[/FONT]

[FONT=Tahoma, Arial]a) Settlement figure paid including PPI and rebate £83,759.78[/FONT]
[FONT=Tahoma, Arial]of £4,121.10[/FONT]
[FONT=Tahoma, Arial]Total premiums paid including cost of PPI £8,390.90[/FONT]
[FONT=Tahoma, Arial]Total = £92,150.68[/FONT]

[FONT=Tahoma, Arial]b)Settlement figure assuming no PPI taken £70,614.02[/FONT]
[FONT=Tahoma, Arial]Total premiums paid assuming no PPI taken £6,740.22[/FONT]
[FONT=Tahoma, Arial]Total = £77,354.24[/FONT]

[FONT=Tahoma, Arial]c)Difference between a and b = £14,796.44 [/FONT]
[FONT=Tahoma, Arial]8% interest on £14,796.44 = £591.85[/FONT]
[FONT=Tahoma, Arial]cheque £15,388.26
thanks for all your help
Laini xx
[/FONT]

Blimey, well done:T

owls57

Reclaiming - loan PPI
Provider - HSBC
How Much - £6902
1 letter to bank and 1 letter to FO

Received letter from HSBC 2 days ago advising that they had reviewed my case and were upholding my complaint with an offer of £6,902 which included interest. This was a top up loan that I took out in 2004, I have now asked HSBC for details of the original loan in 2003 as they told me exactly the same thing that they couldn't extend a loan of that amount without me taking out the PPI, as soon as I have received the details I will be using the templates again, I have come to the conclusion that you have nothing to lose (only the cost of a couple of stamps). Just to think if I had not seen Martin on GMTV I would have been none the wiser.

Thanks Martin