PPI Reclaiming successes and failures

Getting_It_Sorted

A huge Thank you to Martin and everyone on the site. Having called Northern Rock 2 years ago and been told that to remove my PPI I would have to restart my loan at a higher interest rate, I had given up hope. But having read the information on the site and spurred on by others success stories I wrote to them using information that I read on the site and they have written to me today refunding the total amount of my PPI plus interest!

tamman

Go for it. I too had the fob-off letter on 17th december last year but went the FOS who upheld my complaint.
Provider: HBOS
Policy: Single Premium
Amount:2531.68
Interest: 529.58

Just waiting on the settlement figures from HBOS. Would love to know just how much. I am now about to embark on 2 others with HBOS after this success......

geoff62

hello all.
i have sent 8 letters and got 8 back, not one of them would pay up.
i dont know why, nbna, cap one, etc any help. now that they have said no, can i still try again?:beer:

di3004

geoff62 wrote: »

hello all.
i have sent 8 letters and got 8 back, not one of them would pay up.
i dont know why, nbna, cap one, etc any help. now that they have said no, can i still try again?:beer:

Hi there Geoff.;)
Yes hun, of course you can try again, don't let the first letters put you off, the main of us receive these first time, we call them 'bog standard fob off letters' so now its time to get tough.:D

You should write again and wait for their final response, (they should state this is the final one), and if no success then its time for the FOS.

You do need to mention that if they do not uphold your complaint you will take further action.
If you need further help with a 2nd letter, let us know and one of us will guide you.;)

All the best.
Di.

norbert

embelliss wrote: »

Good news!
I would like to ask, how did the letter fob you off?
I wrote to halifax in august last year, and received a very long letter back about how they didn't miss sell it. So I just left it.
Do you think I should try again??

Absolutely!

I got 3 of these fob off letters about each of my loans. It all sounds convincing in the letters and they rebuked all my arguments. I said that single premium policies were unfair as they do not allow refunds if a contract ends early (as in my case). I also said they should have disclosed that lending me money to pay for insurance would generate a large profit for them. They said they couldn't have know when I took out the loan that I might pay it off early so no emphasis was placed on settlement terms. They stated all the costs were broken down on the applications forms showing the amount loaned to pay the insurance. They also said I got a rebate on the outstanding term of the insurance when I settled the loan early so it was not a disadvantage to repay early. But obviously when I went to the FOS they changed their tune and agreed I was mis-sold.

For the sake of filling in the forms and posting it off to the FOS it was well worth it - you may just get lucky.

I had a Tesco loan too with single premium PPI and got a really good fob off letter from them that almost convinced me not to bother persuing it. But then I got my letters from the FOS saying my Halifax claims were successful so I thought what the heck, let's go for it! So I've now sent off another form to the FOS to claim back PPI on my Tesco loan.

Anyone reading this I urge you to write the letters and take it to the FOS if you get fobbed off by your bank 1st or 2nd time round.

The_Dangerman

What were you reclaiming: PPI loan on behalf of my mother, three loans each approximately £500
Who was the provider: HSBC
How much did you get back: £1400
Did you get it back after a letter or did you go to the Financial Ombudsman: Two letters to HSBC, then the form to the Financial Ombudsman

Back in 2002 my mother took out a loan and "topped up" in the loan twice in 2004.

Each time she was sold PPI on top as a lump-sum, and each time she topped up the loan, early re-payment charges were made on the PPI and a new PPI policy sold.

HSBC supported her claim on the fist two loans "due to a lack of supporting evidance" that the policies were properly sold. They would not budge on the third one though because an Insurance Sales Acknowledgement Slip was signed so say she understood the PPI. Obviously written in tiny writing in language someone who isn't financially savvy would struggle to understand. This all took aroun 3-4 months.

They wrote a letter saying they had given their final decsion on the matter, so she wrote to the Financial Ombudsman and within about 2 weeks got a letter back from HSBC saying that they had "thoughougly reviewed the case" and offered a full refund on all loans, all cancellation premiums and 8% interest.

So if anoyn needs inspiration don't be put off if you have signed something to say you understand PPI, and don't be put off by the companies "final decsion".

A HUGE THANK YOU TO MARTIN, and anyone else involved in compiling the wesbite article, it was straightforward and hassle free.

I was also VERY IMPRESSED with the Financial Services Ombudsman. The speed at which they dealt with the matter was fantastic, so a thank-you to the good people there.

techspec

The Halifax have agreed to pay back all PPI on a credit card going back to February 2002, after just 6 weeks with the FOS. 8% Interest will be added, as will the interest they have charged on the payments, totalling over £4000.

Absolut_Wench

Nice one :T

I have a claim for credit card PPI with the Halifax, but they are taking their time to investigate it :mad:

FeeDon

Applied for PPI refund from Cahoot, got over £1,117 :j back after just one letter :beer: (tweeked Martin's template....thanks!!) HOWEVER, have noted that PPI continues to be taken out dispite Abbey (Cahoot's parent company) stating that it would be stopped after April 2008. What should I do - go straight to the FSO? HELP PLEASE !!

WEZZY2

techspec wrote: »

The Halifax have agreed to pay back all PPI on a credit card going back to February 2002, after just 6 weeks with the FOS. Interest will be added, totalling over £4000.

Any idea what the average time it takes to go through the FOS. They have my PPI claim against the HSBC since March this year and I've had 3 letters back saying they are still waiting to assign it to someone. I sent my 1st letter in Nov 07 then 2nd in January. Both were declined, so went to the FOS.

Still waiting ......

Will all be worth it if they repay it back. Fingers crossed