PPI Reclaiming successes and failures

halphy

DragonHeart wrote: »

Hi PPL,

Just thought i would let you know my first claim and it was a success thanks to all the information on here.

Have a loan via the AA which is done via Royal Bank of Scotland, called them up and said ive been made redundant and they said 'oh your protection doesnt cover redundancy' which of course is insane as you think your fully covered.

Anyway sent my first letter off 2 weeks ago, and received a letter today saying they agree i was misold it and will refund all PPI plus interest as if i never took it out in the first place. So it should be around the £2,000 mark refund which is great.... all just from one single letter

Thanks again to everyone on here and the advice, now onto my other loans and credit cards Good luck everyone :T

well done, im awaiting details from aa!

di3004

smithy1976 wrote: »

Hello

I rang customer centre today to check they had both acceptances.

amazingly the one i sent on monday they have, but not the one i posted thursday before( but the nice young man did inform me it prob was in the building), didnt inspire me with confidence.

I asked how the calc the credit card , and was told they go back to when it started which was july 2003, I was shocked as the card was open around 1995/1996 as being naive it was when i turned 18 and could first get one which got me in trouble.

He assured me he only has a basic system and they would check all old cards and linked cards etc...But im a little worried as i dont have any old statements got rid when i went onto a dmp 5 years ago.

Would anyone know from experience if Lloyds do check thoroughly or is it another battle to get back everything from day one. I dont undertsand how there offer is to put me in the position had i not had PPI, but dont see how they can do that if they only go so ar back

Does anyone know if they have to keep records since the start if the account is still active?

any advice would be appreciated

Hi there

Some do hold info going back to earlier years, my hubby reclaimed as from 2001 just recently via Lloyds tsb through the FOS though (Credit card). Yet he did still have the details of the credit card and statements.
Yet on the other if I remember correctly they did not go back earlier than that on the earlier one, but he did not hold anything from then either.

Hopefully someone else will know and have reclaimed from earlier years, fingers crossed.;)

LexieLou

CLOFT wrote: »

Hi

I emailed my complaint to Egg regarding PPI on an Egg Credit Card on 28 May.

I received an acknowledgement on 3 June stating the standard 8 week response time.

Received a further letter this morning, confirming they want to offer me a full refund of all premiums, plus 8% interest - total of £1758.98!!!!!

Total result for very little effort on my part and this cost me nothing as I emailed my completed FOS questionnaire to them.

I am really, really pleased, thanks MSE!!

Only one minor point, as my card has an outstanding balance they are saying their policy states the refund has to be credited to my card account to reduce the oustanding balance - is this normal practice??

Either way, it's reduced my total outstanding debt by £1758.98 which is a good feeling!

Thanks again:T

Hi,

Firstly, congrats on your outcome, you must be so pleased!

Do you mind me asking if you took your card out over the internet?

Thanks,

Ll xx

CLOFT

Hi,

Firstly, congrats on your outcome, you must be so pleased!

Do you mind me asking if you took your card out over the internet?

Thanks,

Ll xx


Hi
Sorry but it was so long ago that I applied for the card I can't actually remember. I have no paperwork at all relating to my card, but I'm guessing it was a 'paper' application. Either way I suggest you go for it...you have nothing to loose.

chinoclone

What were you reclaiming: PPI on a loan
Who was the provider: HSBC
How much did you get back: Still awaiting decision
Did you get it back after a letter or did you go to the Financial Ombudsman: Awaiting decision from letter sent directly to provider
And then write your brief reclaim tale

I originally tried to cancel my PPI insurance in 2006 (1 year into my 60 month agreement) with a view to reducing my monthly repayments. I was told at the time that I would have to take out another 60 loan to cancel the policy. After Calculating this with an HSBC staff member it transpired that doing so would mean that my repayments would increase by 20%. Needless to say I was very disheartened and told them there was no point in me cancelling the loan.

Having looked at other similar cases on this site, I sent my original letter of complaint on the 16th March 2010 to ask HSBC to honour my original cancellation request. I received an acknowledgement letter around two weeks after sending my letter. I received two further letters one in 4 weeks stating that they were looking at my case and would update me in another four weeks. I then received another letter saying that they needed a further four weeks and would provide me with a response by 12th June 2010.

Having not heard anything I contacted HSBC regulated sales complaints on 10th June to check on the progress and I was informed that my case had not yet been assigned to anyone. I was also told that PPI reclaim cases are taking up to 14 weeks to resolve.

The lady I spoke to was very helpful and said that she would assign my case to herself and I would have a decision in another 2 weeks. After briefly discussing my claim with me she did say that ‘it was right that I would have had to take out another loan to cancel the insurance’. I’m not sure if that’s a negative sign about how successful I will be with my claim or if it is HSBC ensuring that they do not admit liability at any point.

I hope this info helps for anyone else who is currently claiming from HSBC and has not had a response within the standard 8 weeks

di3004

chinoclone wrote: »

What were you reclaiming: PPI on a loan
Who was the provider: HSBC
How much did you get back: Still awaiting decision
Did you get it back after a letter or did you go to the Financial Ombudsman: Awaiting decision from letter sent directly to provider
And then write your brief reclaim tale

I originally tried to cancel my PPI insurance in 2006 (1 year into my 60 month agreement) with a view to reducing my monthly repayments. I was told at the time that I would have to take out another 60 loan to cancel the policy. After Calculating this with an HSBC staff member it transpired that doing so would mean that my repayments would increase by 20%. Needless to say I was very disheartened and told them there was no point in me cancelling the loan.

Having looked at other similar cases on this site, I sent my original letter of complaint on the 16th March 2010 to ask HSBC to honour my original cancellation request. I received an acknowledgement letter around two weeks after sending my letter. I received two further letters one in 4 weeks stating that they were looking at my case and would update me in another four weeks. I then received another letter saying that they needed a further four weeks and would provide me with a response by 12th June 2010.

Having not heard anything I contacted HSBC regulated sales complaints on 10th June to check on the progress and I was informed that my case had not yet been assigned to anyone. I was also told that PPI reclaim cases are taking up to 14 weeks to resolve.

The lady I spoke to was very helpful and said that she would assign my case to herself and I would have a decision in another 2 weeks. After briefly discussing my claim with me she did say that ‘it was right that I would have had to take out another loan to cancel the insurance’. I’m not sure if that’s a negative sign about how successful I will be with my claim or if it is HSBC ensuring that they do not admit liability at any point.

I hope this info helps for anyone else who is currently claiming from HSBC and has not had a response within the standard 8 weeks

Fingers crossed for you then.:);)

peachybecks

I sent my letter to Lloydstsb 2 weeks ago, saying that i didn't need the PPI as i had nearly all cover through my job, she was pushy and i ended up taking it, i later tried to cancel it but was told i could without re-financing, which i was turned down for.

I paid the loan off early using the help of a family member.

I today received a letter saying that they are going to uphold my claim, they have told me how they are going to work out the interest payment, but have asked for me to sign an acceptance form before they work it out.

I do not fully understand how they are going to work it out, is it normal practice they do this?

If i post the details can someone help me work it out?

thanks becks

CLOFT

Following on from my successful PPI refund of approx £1700.00, I emailed Egg to request the refund to me direct, rather than to reduce the outstanding balance on my card. It was repeated to me that this is 'Egg Policy'. When I asked for the specfic, this is what I was quoted

"You authorise us to apply any credit balance on any account you maintain with us in satisfaction of any sum due and payable by you under this Agreement which has not been paid. We are not obliged to exercise this right but we will notify you if we do so"

This is para 19.4 of the Egg Card small print.

In a nutshell I have been told that although it states they are not obliged to refund to the card, for all PPI refunds where a balance is outstanding on the card, the refund will be credited to the card account. They would not budge on this despite my very best efforts.

Think I will just cut my losses and accept the offer - do you think this is the right decision, or is it worth holding out and referring the case to the FOS?? At the end of the day it is significantly reducing card balance.

Despite this, I have to compliment Egg for the very swift turnaround of my complaint - 8 working days in total from receipt to offer.

dirtdiver

hi there all just thought id let the forum know i have today spoken to the adjudicator at FOS after my complaint being with them since feb 2010 they will have my decision on monday regarding my ppi on amount due if it is not any more i have got back £8326 in ppi think it may be the largest recovered on here thanks for all the help provided here and to all newcommers dont let them fob you off i got my money back using the template letter from here good luck all

from a very happy dirtdiver

di3004

peachybecks wrote: »

I sent my letter to Lloydstsb 2 weeks ago, saying that i didn't need the PPI as i had nearly all cover through my job, she was pushy and i ended up taking it, i later tried to cancel it but was told i could without re-financing, which i was turned down for.

I paid the loan off early using the help of a family member.

I today received a letter saying that they are going to uphold my claim, they have told me how they are going to work out the interest payment, but have asked for me to sign an acceptance form before they work it out.

I do not fully understand how they are going to work it out, is it normal practice they do this?

If i post the details can someone help me work it out?

thanks becks

Hi there and well done.:beer:

That is what I do not like about Lloyds, they don't let you know the amount until after you sign, but remember because the way they deal with this, you can question on this later on if you want to.

They should therefore uphold in your favour by calculating inline with the FOS, and as the loan is settled, you should receive back all the PPI you have paid plus the interest and 8% interest on top of what a court would award for being deprived of your money.

More here......
https://forums.moneysavingexpert.com/discussion/1596473

Please feel free to post up the details, I'm sure Robbedofmymoney will take a looksie at them for you.