PPI Reclaiming successes and failures

di3004

chinoclone wrote: »

What were you reclaiming: Missold PPI
Who was the provider: HSBC
How much did you get back: £2,798.47
Did you get it back after a letter or did you go to the Financial Ombudsman: Sent MSE template letter

I originally sent a letter on 16th March to claim for missold PPI due to me being unable to cancel the policy when I originally requested to do so 1 year into my agreement. I received several letters from HSBC informing me that they are not yet in a postion to respond to my complaint.

I recevied a letter dated 22nd June informing me that they are not upholding my complaint. However, they will be refunding my premiums from the original cancellation date with interest at 8%.

I am extrememly happy with this, and I'd like to thank MSE for all the help they have provided, as I wouldn't have been able to do this with out the information that is on this site.

:beer:

WOW, fantastic !!!! :T:j:T, well done and Congratulations to you, now spoil yourself as well, you deserve it.:beer:

mikefletch

Hi all, I gave reclaiming my PPI from a Lloyds TSB Credit card a try,I have had just under £10,000 on the card for years ticking over on minimum payment and never getting any less. Having used the template letters and tailoring them to suit my circumstances I got a reply a few weeks after the first letter saying the person I wrote to didn't have the authority to make a decision, but will pass it onto the correct team. I waited another 2 weeks then wrote letter number 2 giving them 14 days to respond, this then prompted a good responce. I received a letter from them saying that the case has been looked into by a big boss person there and my complaint is being upheld. I had to sign an agreement / permission slip for them to investigate the past history of my account so they can calculate the correct PPI repayment, also had to tell them where I wanted the money paying into. After another two weeks and a phone call to them to rattle their cage a bit, I received a letter today (14 weeks after starting the procedure) saying there will be a payment going into my credit card account to the sum of £4,391.80 WOOHOO!!! Just a couple of letters and a lot of patience and look what can be achieved. YEAH BABY!! Do it...... You know you want to.

di3004

mikefletch wrote: »

Hi all, I gave reclaiming my PPI from a Lloyds TSB Credit card a try,I have had just under £10,000 on the card for years ticking over on minimum payment and never getting any less. Having used the template letters and tailoring them to suit my circumstances I got a reply a few weeks after the first letter saying the person I wrote to didn't have the authority to make a decision, but will pass it onto the correct team. I waited another 2 weeks then wrote letter number 2 giving them 14 days to respond, this then prompted a good responce. I received a letter from them saying that the case has been looked into by a big boss person there and my complaint is being upheld. I had to sign an agreement / permission slip for them to investigate the past history of my account so they can calculate the correct PPI repayment, also had to tell them where I wanted the money paying into. After another two weeks and a phone call to them to rattle their cage a bit, I received a letter today (14 weeks after starting the procedure) saying there will be a payment going into my credit card account to the sum of £4,391.80 WOOHOO!!! Just a couple of letters and a lot of patience and look what can be achieved. YEAH BABY!! Do it...... You know you want to.

That is fab, well done and Congratulations!:T:beer::j

Do you mind them refunding your success on to your credit card amount?

I know it will help reduce the balance, but I do also know that as long as there are no arrears, your in your right to request they refund directly to you, but saying that the interest side of it, should defo be refunded directly to you to what I am aware of, well done.:)

halphy

Well done, well deserved!!! Yes, did they offer what way you'd like refunding?

honey28

Can I ask a question?! It's taken me a while but I've read nearly every page of this thread over the past week or more! I plucked up the courage to send off sone letters to previous and present loan and credit card companies to see if I can reclaim missold PPI. When you all talk of sending the first letter and hearing back, sometimes with comaint upheld and offer of payment,what exactly is the first letter? Is it the FOS one?
Sorry for daft question!

di3004

honey28 wrote: »

Can I ask a question?! It's taken me a while but I've read nearly every page of this thread over the past week or more! I plucked up the courage to send off sone letters to previous and present loan and credit card companies to see if I can reclaim missold PPI. When you all talk of sending the first letter and hearing back, sometimes with comaint upheld and offer of payment,what exactly is the first letter? Is it the FOS one?
Sorry for daft question!

Hi there

Not a problem, all this was new to us at one time too.:D

When they write back, if they agree that they mis sold the ppi, then they will uphold and refund all that have been paid into ppi, and interest as well.

Sometimes it may be an offer where they will accept liability, but if they don't do any of the above and do no uphold and reject the complaint, some will give the opportunity for you to write back with further information.

However, the first letter you receive is normally the acknowledgement letter to confirm they have received your complaint and they are sorry to hear that you believe you have been mis sold the policy, they then go on to say they will be in touch with a timescale, but they are actually entitled to 8 weeks to respond with a decision.

In the final letter/decision is the one where if eligible, they enclose details of the Financial ombudsman service (FOS), so if they have given the final decision a leaflet should be enclosed of your rights of complaining to the FOS.

Hope this helps.
I take it this is what you mean?
Sorry if I have mis read.

Ask for further help if required.;)

dippynina

di3004 wrote: »

Hi

Hope your well.

On the acceptance slip, did they leave a part for you to write down the account of your choice?

I do not bank with them anymore either and they did refund into another account I have when giving the details.

I would email the insurance dept as well, if they have stated they are putting you back in the position as if you did not take out ppi, then they should also pay you the interest, which is that of the 8%.

Did they state they would calculate inline with the FOS?
If so they must include the 8% interest.

You can ask if they can refund the amount into an account of your choice, but I do also know if this actual account is in arrears, they may possibly refund the amount towards this but the 8% should be awarded directly to you.

Email them here:
[EMAIL="customer.care.insurance@lloydstsb.co.uk"]customer.care.insurance@lloydstsb.co.uk[/EMAIL]

As you already been out of pocket due to this in the first place, that have not helped the debt, you could otherwise argue on this if you want to, and tell them you have already been deprived of your money and wish to have the amount refunded directly to you, or see what they say first.

Remember to include your ref complaint number if you email them on the above.

Good luck and please keep us posted.;)

Just a quick question Di, if you could be so kind. How long did it take for the interest to be refunded into your bank account from sending off the acceptance form? Although I know mine may be longer as it does state on the acceptance form that there will be a delay if the account is with their debt collection agency. Thanks

di3004

dippynina wrote: »

Just a quick question Di, if you could be so kind. How long did it take for the interest to be refunded into your bank account from sending off the acceptance form? Although I know mine may be longer as it does state on the acceptance form that there will be a delay if the account is with their debt collection agency. Thanks

Hi

As soon as they received my acceptance slip, I received the amount into my chosen bank account by 21 working days.

What I would do in your case is email to ask them to confirm this to you and give it say a month and ask for the balance of the one with the DCA, as the balance owed should be now reduced.;)

DragonHeart_2

Hi PPL,

I sent my letter of with regards to my Loan PPI about 6 weeks ago, got a letter from them today saying LLoyds do not lead ppl into purchasing PPI, and my application was refused.

Anyway to cut a long story short they sent me copys of the paperwork which i signed with regard to ppi. Althou the assistant didnt explain anything to me and just said sign here and here kinda thing.

The paper work they sent me is incomplete, The personal Summary where it states all the information they have told me or supposed to have told me about the protection.

IT hasnt even been signed by thier representative, so what proof do they have he has told me this infomation. As thier are two sections on the bottom of the form . Advisors Name = and Advisers Signature = both unsigned.

Do i have any legs to stand on with this ?

Thanks in advance for any info.

di3004

DragonHeart wrote: »

Hi PPL,

I sent my letter of with regards to my Loan PPI about 6 weeks ago, got a letter from them today saying LLoyds do not lead ppl into purchasing PPI, and my application was refused.

Anyway to cut a long story short they sent me copys of the paperwork which i signed with regard to ppi. Althou the assistant didnt explain anything to me and just said sign here and here kinda thing.

The paper work they sent me is incomplete, The personal Summary where it states all the information they have told me or supposed to have told me about the protection.

IT hasnt even been signed by thier representative, so what proof do they have he has told me this infomation. As thier are two sections on the bottom of the form . Advisors Name = and Advisers Signature = both unsigned.

Do i have any legs to stand on with this ?

Thanks in advance for any info.

Hi there

Lloyds all over, but do not back down, what they sent is standard, they think by doing this that you may back off, but don't you dare......:D lol.

Don't know much about uncompleted applications, but with your reasons you have, you now need to be a little stronger on this letter than the last one.

What you need to do is work on their findings, so for whatever reason they fobbed you off with on their findings, write something to try to put them straight.

Also with Lloyds even if you have received a final decision, they have been known to change it in your favour.

But........
what you need to do is write back and tell them:
Despite their response - you don't believe your complaint was investigated properly, and you are asking that they take another look and investigate it properly, as you understand that the FSA are punishing banks for this reason and for rejecting genuine complaints.

Tell them if you decide to take the complaint to the FOS, and if successful, they will be liable to pay out further charges to the FOS, and you will also consider requesting for further redress yourself, for the distress and inconvenience yourself if this is the case.

And of course, make a comment on the uncompleted application form, you can always send them a copy of it, (not the original though).

But keep strong and they should back down, ask them to consider by 7 or 14 days.

You could actually do this by emailing them here:
[EMAIL="customer.care.insurance@lloydstsb.co.uk"]customer.care.insurance@lloydstsb.co.uk[/EMAIL]
But ask them to confirm they have received this and also send a hardcopy in the post to them and let them know this.

Good luck, please keep us posted.;)