PPI Reclaiming successes and failures

Trevs_3

:rolleyes:
Successful PPI reclaim on Personal Loan from Barclays.
£4,427.81.....Thank you Moneysaver..:beer:
It was paid out after sending in the stage 2 PPI reclaim letter.
________________________________________________________________
My wife took out a Personal Loan in June 2005. I have been trying to get her to reclaim for the past year, since reading this site. Eventually wore here down and sent in the stage 1 letter and after 6 weeks Barclays tried to fob us off. Sent in the second letter at the beginning of June and they paid the money into her account last week....
And with our 1st baby due in November it could not have come at a better time. :T

Being the sceptic I am I was hoping someone could offer some advice on the refund we received.

The letter sent by Barclays has refunded the ff:
PPI Premium - Paid to my wife
Insurance Rebate - Credited to her Personal Loan before settlement in June.
Interest Charged on PPI Premium - Paid to my wife
Statutory Interest 8% - Paid to my wife.

We have since settled her loan and moved it Halifax for a better interest rate, which has left me confused about the "Insurance Rebate" being credited to the loan before settlement.

I am considering asking Barclays for an explanation of this as I have a feeling that we should be receiving these funds???? The rebate was apparently £1,316.44 but the settlement figure on the loan did not seem to incorporate this amount.

Any advice will be much appreciated.....

marshallka

Trevs wrote: »

:rolleyes:
Successful PPI reclaim on Personal Loan from Barclays.
£4,427.81.....Thank you Moneysaver..:beer:
It was paid out after sending in the stage 2 PPI reclaim letter.
________________________________________________________________
My wife took out a Personal Loan in June 2005. I have been trying to get her to reclaim for the past year, since reading this site. Eventually wore here down and sent in the stage 1 letter and after 6 weeks Barclays tried to fob us off. Sent in the second letter at the beginning of June and they paid the money into her account last week....
And with our 1st baby due in November it could not have come at a better time. :T

Being the sceptic I am I was hoping someone could offer some advice on the refund we received.

The letter sent by Barclays has refunded the ff:
PPI Premium - Paid to my wife
Insurance Rebate - Credited to her Personal Loan before settlement in June.
Interest Charged on PPI Premium - Paid to my wife
Statutory Interest 8% - Paid to my wife.

We have since settled her loan and moved it Halifax for a better interest rate, which has left me confused about the "Insurance Rebate" being credited to the loan before settlement.

I am considering asking Barclays for an explanation of this as I have a feeling that we should be receiving these funds???? The rebate was apparently £1,316.44 but the settlement figure on the loan did not seem to incorporate this amount.

Any advice will be much appreciated.....

you may be better putting this on the discussion thread and i am sure someone (m colak) will be able to help you there.

marshallka

rikkdh wrote: »

Just a quick one to say that thanks to the template letters and a little bit of creativity in changing some of the standard paragraphs, I have succesfully managed to get LLoyds TSB to cough up nearly £4K of PPI over 2 Loans.

They very cleaverly ignored my instruction not to include PPI in the consolidated 2nd loan and have managed to "lose" the paperwork that would have substantiated, or allowed them to defend my claim. After raising concerns that they had mislaid my paperwork they informed me that they only have to keep the paperwork for 3 years!!!

I would say that if you still have a loan and believe that your PPI policy was mis-sold it's well worth making a complaint. Some of the finer detail on the settlement is outstanding i.e how much they are going to take to pay back to the loan but all in all well worth writing the 2 letters. Good luck guyz!

They have to keep records for at least 6 years so they are fobbing you off there. Take you query here to the discussion thread and it will be answered on there. Did you request a SAR from them. It costs £10 and they HAVE to provide you with all the details they hold of you under the data protection act. Go to the discussions and get more help. Don't give up.

http://www.ico.gov.uk/for_the_public.aspx

rikkdh

marshallka wrote: »

They have to keep records for at least 6 years so they are fobbing you off there. Take you query here to the discussion thread and it will be answered on there. Did you request a SAR from them. It costs £10 and they HAVE to provide you with all the details they hold of you under the data protection act. Go to the discussions and get more help. Don't give up.

http://www.ico.gov.uk/for_the_public.aspx

Hi Marshallka, thanks for your reply. I have copies of all the paperwork and as far as i'm aware LTSB are only claiming they can't find the paperwork to substantiate the sale of the PPI. I agree that they should be able to provide this paperwork but do I stand to gain anything additional by going down the SAR route?, given that they have agreed they are going to refund the full PPI elements on both loans.

marshallka

rikkdh wrote: »

Hi Marshallka, thanks for your reply. I have copies of all the paperwork and as far as i'm aware LTSB are only claiming they can't find the paperwork to substantiate the sale of the PPI. I agree that they should be able to provide this paperwork but do I stand to gain anything additional by going down the SAR route?, given that they have agreed they are going to refund the full PPI elements on both loans.

Are they refunding with interest? 8% is what court would award and also are they then restructuring the loan. I maybe misread that they were paying back on both loans. You are one of the lucky ones but make sure you are not ripped off by them. Have they quoted you a figure because if they have someone on here (either Tiggrae or M colak) can check that they have it right. They are not on at the moment but should read your post later and then at least you know for sure.

denicerose

Hi first time poster but just thought I would let you all know that my hubby got a letter from RBS today offer £1993 back from a loan he got just over 6 years ago.

Sent the first letter template end of April, received a letter from them asking for more details 2-3 weeks later, sent it away then on Friday received their offer.

More than happy as it helps with the holiday

Denice x

pastcatchingupwithme

Just awaiting to hear back from HBOS regarding PPI repayment.

Had a terrible time with Halifax just trying to stop the insurance payment. They told me that I needed to take out a new loan with a much higher interest rate due to the length of time and amount I had to repay. I even went to my branch with the information from the ombudsman. When they continued to express that they could not stop the insurance without taking out a new loan I said I would take the matter to the ombudsman.

It has taken about 5 months for someone to be allocated to my case but eventually the ombudsman wrote back to state that although HBOS would not take liability they would refund the insurance paid (around 42 months at around £30 per month) plus 8% interest, taking off the rest of the insurance payment from the loan. I'm hoping that this will at least pay off the remainder of the loan of which I have around 18 months left.

The unfortunate thing and the ombudsman agreed is that this could take HBOS a month to sort out and well over a week after receiving the good news they continue to take loan repayments at the increased (original) rate.

I accepted the offer last week and am just awaiting to hear from HBOS.

Just to let people know that although it may seem like you're bashing your head against a brick wall there is a light at the end of a very long tunnel - the ombudsman have been brilliant by keeping me informed of my (lack of) progress every month.

kelwal75

Hi I used the templates on this site and got all my PPI payments back from northern rock, although it wasn't easy they made an offer then reduced it and it was only after threatening them with the finacial onbudsman that i finally got all my payments back plus interest!
:beer:

Drummie_2

Hi
I am taking Endeavour to court(£900 excluding interest)
I also took out a loan prior to that through Promise Finance and am also taking them to court (£3800)
Will let you know how it goes!

Lexxi

I wrote to Halifax on 10th June 2008 with the template letter from this site, I put all the reasons that could possibly apply as to why I thought the PPI on my credit card had been mis sold.
I recieved a reply on the 19th July saying they were investigating my claim and their booklet on the complaints procedure, I thought it was them fobbing me off and was going to give them another couple of weeks before writing again. However this morning I recived another letter from them
The letter says that 'FSA policy states that specific documents must be provided to customers..... The documents explain why the insurance is beneficial to customer and the terms and conditions of the insurancy policy sold. As part of the regulation, there is a requirement for the advisor to fully explain these documents' (I've not read all this thread so thought I would put that bit in in case it is of any use to any one)
My letter then says that they have no proof I was issued these documents so I can have a refund of alll premiums paid plus interest since the start of the policy and a cheque will be with me within 14 days.

I very much doubt that this will be a particulary large amount as I only had thhe card for two years but the point is I WON!!!!!

The letter ends with 'because I am upholding your complaint I will not address the specific issues you raised'
So I imagine it will probably cost more to investigate, glad I put all those reasons in the letter now and not just one or two!

Good luck to everyone else, give it a go, even if it's a smalll amount, will let you know what the amount comes to when my cheque arrives :T :T :T