PPI Reclaiming successes and failures

di3004

LINE999 wrote: »

• Decided to try and re claim mis sold PPI for a Barclayloan purchased in November 2003, for the reasons listed below:

1) I believe I should have been made aware of (considerably) cheaper options for insurance at the time of the sale
2) I should also have been made fully aware that the insurance was optional
3) It should have been very clearly outlined that this policy was to be paid by a single lump sum premium covering the whole of the policy term and that the cost of the lump sum premium was to be funded by means of a loan, on which interest would be payable. If I had known that the total cost of the loan agreement would equal almost 50% of the actual cash loan I would certainly have never agreed. This was not made clear at any stage of the selling process.



I sent my first letter 01/03/10. (I used the template from this site... Thank you!)

• I recieved a letter back with a questionaire in April.
• I wasn't sure weather to fill in the questionaire or not, but decided to fill in the basics and refer back to my origanal letter. I also sent a covering letter saying that the questionaire was in unnecessary as I had already given them all the details in my origanal letter and asked them to reply within the time frame given on the origanal letter.
• Recieved a letter from the bank saying they we're looking into it and would reply by 20/05/10.
• 10/03/10 - Bank credited with £2500.00 for mis sold PPI and the Intrest.

This took just over 2 months from start to finish and was quite straight forward, I have to say Barclays have indeed surprised me with their swift responce and pay out, but needless to say I am very pleased and would encourage people to at least try.....
I first thought about claiming early last year, but kept putting it off because I didn't think I would get any where, just goes to show you!!!

Good luck :rotfl:

Hi and welcome.

That is brilliant :T Well done and Congratulations! :beer:

elly1976

LINE999 wrote: »

• Decided to try and re claim mis sold PPI for a Barclayloan purchased in November 2003, for the reasons listed below:

1) I believe I should have been made aware of (considerably) cheaper options for insurance at the time of the sale
2) I should also have been made fully aware that the insurance was optional
3) It should have been very clearly outlined that this policy was to be paid by a single lump sum premium covering the whole of the policy term and that the cost of the lump sum premium was to be funded by means of a loan, on which interest would be payable. If I had known that the total cost of the loan agreement would equal almost 50% of the actual cash loan I would certainly have never agreed. This was not made clear at any stage of the selling process.



I sent my first letter 01/03/10. (I used the template from this site... Thank you!)

• I recieved a letter back with a questionaire in April.
• I wasn't sure weather to fill in the questionaire or not, but decided to fill in the basics and refer back to my origanal letter. I also sent a covering letter saying that the questionaire was in unnecessary as I had already given them all the details in my origanal letter and asked them to reply within the time frame given on the origanal letter.
• Recieved a letter from the bank saying they we're looking into it and would reply by 20/05/10.
• 10/03/10 - Bank credited with £2500.00 for mis sold PPI and the Intrest.

This took just over 2 months from start to finish and was quite straight forward, I have to say Barclays have indeed surprised me with their swift responce and pay out, but needless to say I am very pleased and would encourage people to at least try.....
I first thought about claiming early last year, but kept putting it off because I didn't think I would get any where, just goes to show you!!!

Good luck :rotfl:

Well done on this. I'm new to all this but have a claim going through with Barclays. Sent back the questionairre early last week but we got a letter with it saying we should hear back before 26 May.
Can i just ask, did the money go in your bank before you got the letter to confirm that it had/figures etc, or did you get the letter first??

Ace59

My daughter took out a loan with Lloyds TSB Bank in April 2007 as a debt consolidation. This was unknown to me at the time and she found it increasingly difficult to manage so much so that she turned to the CCCS for help. They took over and a reduced payment was managed by them. I became involved in September 2009 when she started getting threatening phone calls and legal letters from Lloyds TSB stating that she was in arrears and that they wanted immediate payment.

I had a good look at one of her statements and I was astounded to see that the loan was running at 18.35% and that over £3,000.00 had been top loaded as a single premium. The original loan amount was £10,000.00 and the LPI boosted this to just over £13,000.00.

I wrote to Lloyds TSB Bank using the templates on this site and within 6-weeks she had a reply upholding her complaint. The odd thing was that they did not produce any figures they simply wanted her to sign a blank form and they would do the calculations later! I challenged this and said please provide the full details of the amount to be refunded to the account and please state what the balance is.

This was their Newport Insurance Business and they chose to ignore my letter. Over the next few months my daughter was constantly harrassed for the arrears on the loan with no regard for the money that they actually owed her. The trouble was that she was dealing with Brighton and India and no one person had control. All of the new loan agreements had differing figures and all of them were over £10k, odd considering that is where she would have started from in 2007.

I sent many letters of complaint each answered by a different person but all agreeing that the compalint was valid. Guess what they continued to send even more threatening letters :mad: .

In March 2010 she received another letter from the Newport Insurance Arm for Lloyds TSB saying, you guessed it, we have upheld your complaint about the mis selling of the LPI and we will put you back in a position today as if the LPI had not been added:T Guess what - I wrote back and said please could you supply some figures:mad: NO REPLY and the threats just kept coming. Oh and they enclosed one of those nice glossy leaflets about the Ombudsman.

Totally exassperated and with the threat of legal proceedings against my daughter I put a complete dossier together with all the evidence to the Financial Ombudsman. They acknowledged the package had been received and allocated a case number but given that they were handling about 9000 similar cases about Lloyds TSB it could be some time before they came back to her.:(

The letters and threats just kept coming and I copied those and sent them on to the ombudsman and they were once again acknowledged.

I wrote back to Lloyds and explained that the case had been referred to the Financial Ombudsman and I gave them the reference and caseworker.

Guess what ! the letters just keep on coming. I have done everything - written, e-mailed, faxed, spoken personally to them and the letters just keep on coming:mad:

This is complete madness and harrassment........what do you have to do to get these idiots to listen:(.

The LPI complaint was upheld, they can't find the original loan agreement and I can't for one minute beleive that the APR was 18.35% at that time. It looks as though they have hiked that too! Sums do not appear to be their strong point!!!!!

Has anyone out there had a similar problem....it is completely nuts. What can I do that I haven't done already.

di3004

Ace59 wrote: »

My daughter took out a loan with Lloyds TSB Bank in April 2007 as a debt consolidation. This was unknown to me at the time and she found it increasingly difficult to manage so much so that she turned to the CCCS for help. They took over and a reduced payment was managed by them. I became involved in September 2009 when she started getting threatening phone calls and legal letters from Lloyds TSB stating that she was in arrears and that they wanted immediate payment.

I had a good look at one of her statements and I was astounded to see that the loan was running at 18.35% and that over £3,000.00 had been top loaded as a single premium. The original loan amount was £10,000.00 and the LPI boosted this to just over £13,000.00.

I wrote to Lloyds TSB Bank using the templates on this site and within 6-weeks she had a reply upholding her complaint. The odd thing was that they did not produce any figures they simply wanted her to sign a blank form and they would do the calculations later! I challenged this and said please provide the full details of the amount to be refunded to the account and please state what the balance is.

This was their Newport Insurance Business and they chose to ignore my letter. Over the next few months my daughter was constantly harrassed for the arrears on the loan with no regard for the money that they actually owed her. The trouble was that she was dealing with Brighton and India and no one person had control. All of the new loan agreements had differing figures and all of them were over £10k, odd considering that is where she would have started from in 2007.

I sent many letters of complaint each answered by a different person but all agreeing that the compalint was valid. Guess what they continued to send even more threatening letters :mad: .

In March 2010 she received another letter from the Newport Insurance Arm for Lloyds TSB saying, you guessed it, we have upheld your complaint about the mis selling of the LPI and we will put you back in a position today as if the LPI had not been added:T Guess what - I wrote back and said please could you supply some figures:mad: NO REPLY and the threats just kept coming. Oh and they enclosed one of those nice glossy leaflets about the Ombudsman.

Totally exassperated and with the threat of legal proceedings against my daughter I put a complete dossier together with all the evidence to the Financial Ombudsman. They acknowledged the package had been received and allocated a case number but given that they were handling about 9000 similar cases about Lloyds TSB it could be some time before they came back to her.:(

The letters and threats just kept coming and I copied those and sent them on to the ombudsman and they were once again acknowledged.

I wrote back to Lloyds and explained that the case had been referred to the Financial Ombudsman and I gave them the reference and caseworker.

Guess what ! the letters just keep on coming. I have done everything - written, e-mailed, faxed, spoken personally to them and the letters just keep on coming:mad:

This is complete madness and harrassment........what do you have to do to get these idiots to listen:(.

The LPI complaint was upheld, they can't find the original loan agreement and I can't for one minute beleive that the APR was 18.35% at that time. It looks as though they have hiked that too! Sums do not appear to be their strong point!!!!!

Has anyone out there had a similar problem....it is completely nuts. What can I do that I haven't done already.

Hello there

So sorry to hear of all these problems.

But yes this is LLOYDS all over.

You may have heard over the last few weeks that a few high street banks are to be punished - possibly fined for not investigating complaints properly and alway rejecting them.

I do think though this will be sorted out soon with the FOS.

I would actually contact the dept by email here:
[EMAIL="customer.care.insurance@lloydstsb.co.uk"]customer.care.insurance@lloydstsb.co.uk[/EMAIL]

And also complain to the Chief Executive officer (CEO) here:
[EMAIL="eric.daniels@lloydstsb.co.uk"]eric.daniels@lloydstsb.co.uk[/EMAIL]

Also let the FOS you are doing this if you want to.

Or

If you have a result, and a good one then contact the FOS to let them know its sorted (if sorted).

LLoyds TSB "annoying I know" do not seem to let you know the amount they will be refunding, but they do state if upholding and not an offer that they refund in-line with the FOS guidelines.
However, there have been some complaints that they have not been doing this either.

So its always best to check.

I do hope this gets resolved very soon, good luck, please keep us posted.;)

In regards of the debt, the debtfreewannabe thread here should be very helpful, with many in the same situation, who have also made PPI reclaims:
http://forums.moneysavingexpert.com/forumdisplay.php?f=76

amersall

:j:jwell done to all winners this week:money::money:keep it up everyone:A

SJ_Jones

Just had over £5,000 refunded from HSBC on PPI plus interest - they've not admitted fault, but they obviously didn't want me to go to FOS! Thanks Martin, this has made a huge difference!:beer:

di3004

SJ_Jones wrote: »

Just had over £5,000 refunded from HSBC on PPI plus interest - they've not admitted fault, but they obviously didn't want me to go to FOS! Thanks Martin, this has made a huge difference!:beer:

Fantastic :T:j, well done and Congratulations! :beer:

SJ_Jones

This was in the response to the 2nd letter I wrote, the first one I just got a reply of what I presume is their standard response of a glorified 'sod off'. Keep going everyone! It's worth it!

di3004

SJ_Jones wrote: »

This was in the response to the 2nd letter I wrote, the first one I just got a reply of what I presume is their standard response of a glorified 'sod off'. Keep going everyone! It's worth it!

Well done, not bad going then.:beer:

Cocorico123

Another success for me.... Submitted a claim for mis-sold PPI on a flexible loan I was talked into having by a very pushy HFC employee in 2002. Paid the whole thing off two years later and didn't have any info. Sent off SAR info in March and then a letter requesting a refund (I estimated around £500). On Saturday morning I received a letter, not admitting liability but offering me a full and final payment of £1653.31! Have been in a VERY good mood all weekend!