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PPI Reclaiming successes and failures

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Comments

  • dimple
    dimple Posts: 17 Forumite
    Hi

    After 2 years my claim for a refund of my PPI has been granted by the Financial Ombudsman. 2 months ago I received a letter with the good news telling me that HFC now had 8 weeks to make me an offer and if had not heard from them within that time I should contact them.

    Well it has now been 8 weeks and I contacted the Financial Ombudsman only to be told that the person dealing with my case has now left and that they usually give businesses up to 12 weeks to get back with an offer.

    Has anyone else had this problem? It seems as if the bank is going to wait until the last minute to make the offer. I waited 2 years to be told I would be given the money, and then 8 weeks as directed waiting for an offer and now I have to wait another 4 weeks, it hardly seems fair!

    Dimple
  • BigCraigJohn
    BigCraigJohn Posts: 1,082 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Right I had 4 Lloyds tsb loans over 3 or so years. All mis sold for various reasons.

    Lloyds have upheld the 3rd and 4th complaints which I presume i'll be fully refunded taking the rebates into consideration.
    1 and 2 they want more info but have offered pro rata refunds on the difference to the rebate but i'm going to refuse and push for the full amounts. I need to get doctors info to prove a pre existing condition.

    For the record my letter went off about 3 weeks ago so pretty efficient. Thanks a lot to di3004 and anyone else who took the time to offer advice.

    Not finished yet and time to push on with the other 2 then theres 4 lots of charges and a credit card ppi :)
  • di3004
    di3004 Posts: 42,579 Forumite
    Right I had 4 Lloyds tsb loans over 3 or so years. All mis sold for various reasons.

    Lloyds have upheld the 3rd and 4th complaints which I presume i'll be fully refunded taking the rebates into consideration.
    1 and 2 they want more info but have offered pro rata refunds on the difference to the rebate but i'm going to refuse and push for the full amounts. I need to get doctors info to prove a pre existing condition.

    For the record my letter went off about 3 weeks ago so pretty efficient. Thanks a lot to di3004 and anyone else who took the time to offer advice.

    Not finished yet and time to push on with the other 2 then theres 4 lots of charges and a credit card ppi :)


    Wow Well done, so happy for you, Congratulations :T:beer::j

    Yes good for you for keeping on for the others, I'm sure they will soon uphold on these as well.

    Fab news and your very welcome.:j:beer::A

    Di
    X
    The one and only "Dizzy Di" :D
  • bilbo85
    bilbo85 Posts: 14 Forumite
    Hello all,

    Ok, a few weeks ago i got a phone call from one of these agency people asking me if id had a loan in the last few years....did i want to find out about ppi claiming...etc etc....i said no, but then when i got home that night, i got to thinking about this and thought id just check to make sure.

    I got a HSBC Personal loan in June 2008, so only 2 years ago....and the loan was for £3000. The loan is over 4 years (49 months to be exact) and its 49 months at £77.76 a month, which comes to £3810.00 in total to repay. Now, on my loan agreement it says 12.70% Variable....and i dont really know what this means? Im a bit thick when it comes to this kind of thing.....does that mean that i am paying back my £3000 PLUS 12.7% of £3000 which is like £400 or something?

    Anyway, i requested my loan agreement etc and it doesnt actually mention PPI on the loan agreement, it just has the loan amount, and then the amount of months to pay and then the total im paying back £3810.00.........and lots of terms and conditions but none of them mention anything about PPI or insurance or even what to do if i cannot pay or need to change my payment plan etc......

    Can anyone help me here? Does the above sound right?

    Kind regards

    Thank you Caley
  • BigCraigJohn
    BigCraigJohn Posts: 1,082 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    edited 6 May 2010 at 9:48PM
    Hi personally i'd say there is no ppi in there.
    Thing is by 2008 ppi was pretty heavily regulated and I doubt you would have it unless you know.
    HSBC are fairly respectable(he says) so doubt they would add anything without putting it on the agreement especially that recent.
    Best thing is just to ring the bank and ask them outright if you have ppi or not.
    :)
    bilbo85 wrote: »
    Hello all,

    Ok, a few weeks ago i got a phone call from one of these agency people asking me if id had a loan in the last few years....did i want to find out about ppi claiming...etc etc....i said no, but then when i got home that night, i got to thinking about this and thought id just check to make sure.

    I got a HSBC Personal loan in June 2008, so only 2 years ago....and the loan was for £3000. The loan is over 4 years (49 months to be exact) and its 49 months at £77.76 a month, which comes to £3810.00 in total to repay. Now, on my loan agreement it says 12.70% Variable....and i dont really know what this means? Im a bit thick when it comes to this kind of thing.....does that mean that i am paying back my £3000 PLUS 12.7% of £3000 which is like £400 or something?

    Anyway, i requested my loan agreement etc and it doesnt actually mention PPI on the loan agreement, it just has the loan amount, and then the amount of months to pay and then the total im paying back £3810.00.........and lots of terms and conditions but none of them mention anything about PPI or insurance or even what to do if i cannot pay or need to change my payment plan etc......

    Can anyone help me here? Does the above sound right?

    Kind regards

    Thank you Caley
  • NellyM029
    NellyM029 Posts: 85 Forumite
    Well done everyone who has successfully reclaimed and good luck to all those who ae in the process of doing it. I should know about my claim with barclaycard in the next few weeks so will keep you all updated.
  • bilbo85
    bilbo85 Posts: 14 Forumite
    Hi BigCraigJohn!

    Thanks for your reply, much appreciated. I have just realised that my loan is a HSBC 'managed' Loan. Apparently according to lots of people, these are really bad loans that have high interest rates and really affect your credit rating!! Oh joy!!!.....I originally got the loan when i finished uni, i had a 1600 overdraft and a 1300 credit card (both with HSBC) and i didnt get a job straight after uni, so HSBC told me i had to have this managed loan thing to consolidate the 2 debts and make it more manageable! I got a job pretty soon after this and wish i hadnt got the loan now....im obvisouly paying quit a lot of interest for a £3000 loan- darn. Im going to see if i can double my monthly payments and cut my loan timeframe down.

    Thanks again for your help.
  • BigCraigJohn
    BigCraigJohn Posts: 1,082 Forumite
    Part of the Furniture 1,000 Posts Combo Breaker
    Maybe they might consider chaging it to a better rate if your situation has changed?
    I know that as someone with poor credit history that HSBC gave me a business account and business credit card and ive got a default, lots of credit and lots of lates on my history so they must of used there own rating on me.

    Word of advice though, if they do give you a lower rate loan make sure you get the exact amount required to clear the managed loan and not a penny more then get them to transfer it there and then.
    Remember they want your money so if you show you are looking to move to a more favourable rate elsewhere they may help.
    bilbo85 wrote: »
    Hi BigCraigJohn!

    Thanks for your reply, much appreciated. I have just realised that my loan is a HSBC 'managed' Loan. Apparently according to lots of people, these are really bad loans that have high interest rates and really affect your credit rating!! Oh joy!!!.....I originally got the loan when i finished uni, i had a 1600 overdraft and a 1300 credit card (both with HSBC) and i didnt get a job straight after uni, so HSBC told me i had to have this managed loan thing to consolidate the 2 debts and make it more manageable! I got a job pretty soon after this and wish i hadnt got the loan now....im obvisouly paying quit a lot of interest for a £3000 loan- darn. Im going to see if i can double my monthly payments and cut my loan timeframe down.

    Thanks again for your help.
  • bwfc0907
    bwfc0907 Posts: 43 Forumite
    edited 6 May 2010 at 10:23PM
    Thanks to this site I had £2100 repaid today for the period 6/94 to 1/01. It was from mortage protection with TSB and paid to Mortgage Sure. I paid approx £25 each month and LloydsTSB agreed a full refund.:money:
  • di3004
    di3004 Posts: 42,579 Forumite
    bwfc0907 wrote: »
    Thanks to this site I had £2100 repaid today for the period 6/94 to 1/01. It was from a mortage with TSB and paid to Mortgage Sure. I paid approx £25 each month and LloydsTSB agreed a full refund.:money:

    Fantastic :T:T, Congratulations and well done!:beer:
    The one and only "Dizzy Di" :D
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