PPI Reclaiming successes and failures

di3004 · 16 May 2009 at 4:11PM

Tracey1973 wrote: »

Hi all

Ive sent off a couple of letter regarding mis-sold ppi -1 was to lloyds tsb personal loan.Sent 1st letter from template 27/4/09 received a reply 7/5/09 saying they have passed it onto lloyds tsb insurance but may take little time to complete there enquires.How long do i give them???

Ive also sent a letter to capital one for ppi on credit card 27/04/09 received a reply 8/5/09 saying i requested it on my application form and they have enclosed a copy of app said the ppi is made clear in ppi material and is fair and not misleading!so they will not refund as all was done correctly.Is there anything i can do?i was not even aware i had it even though i signed.....

Next step im going to try with egg credit card...can anyone help or advise me im getting alittle out of my depth now.

Hi there

In regards of timescales they are able to have 8 weeks, this is normally ample time for them to resolve these complaints, you are then entitled to move this on the financial ombudsman service (FOS), if you want to give Lloyds your own timescale if the 8 weeks have passed tell them if you don't hear anything you will move on to the FOS.;)

In regards of Cap one, that is just a standard response, keep on at them and write back if this was not the final response, in the final response, they should give details of the FOS if eligible.

With EGG, its the same template you use for the PPI reclaim, and again give your own reasons, its all the same procedures, good luck and post for help anytime.;)
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

dclements · 16 May 2009 at 7:38PM

I decided to try to claim back missold PPI after reading Martin Lewis' guide. I had bought PPI with a £15000 loan that I took out with Paragon Personal Finance but settled a year later and was charged £19000! I sent off the first letter and was told the claim was being rejected. As Martin had warned this would happen I sent off Template 2 expecting another knockback and fully prepared to have to send off Letter 3. I got a letter from Paragon this morning offering £3,400 - all that for just 2 stamps! Thanks Money Saving Expert.:T

di3004 · 16 May 2009 at 7:40PM

dclements wrote: »

I decided to try to claim back missold PPI after reading Martin Lewis' guide. I had bought PPI with a £15000 loan that I took out with Paragon Personal Finance but settled a year later and was charged £19000! I sent off the first letter and was told the claim was being rejected. As Martin had warned this would happen I sent off Template 2 expecting another knockback and fully prepared to have to send off Letter 3. I got a letter from Paragon this morning offering £3,400 - all that for just 2 stamps! Thanks Money Saving Expert.:T

Absolutely wonderful news.:j
Many Congratulations.
:beer::T:beer:

Beatlefan · 17 May 2009 at 12:53AM

dclements wrote: »

I decided to try to claim back missold PPI after reading Martin Lewis' guide. I had bought PPI with a £15000 loan that I took out with Paragon Personal Finance but settled a year later and was charged £19000! I sent off the first letter and was told the claim was being rejected. As Martin had warned this would happen I sent off Template 2 expecting another knockback and fully prepared to have to send off Letter 3. I got a letter from Paragon this morning offering £3,400 - all that for just 2 stamps! Thanks Money Saving Expert.:T

Brilliant well done - and no need to go to the Ombudsman either. Great news - enjoy your money.

PhotoDave · 17 May 2009 at 12:58PM

Firstly, thank you Martin for the template letters and advice that seen me reclaim nearly £9000 from HBOS for a loan taken out in 1999.

Initially I didn't think I'd be able to reclaim the PPI, as I had made a claim under the insurance.

I thought, can't be any harm in writing one letter! That letter led to an initial cheque of £5500 followed by another for £3500, detailing every penny! It would have been more if I hadn't made the claim, but the important issue is, they knew I'd made a claim, and still refunded the PPI plus interest! The cost of the PPI on the loan agreement was £5400ish!

I still went through with it, as I was told at the time that it would improve my chances of getting approved for the loan, something that we all know now is completely untrue!

Thanks again Martin and MSE!!

Dave

di3004 · 17 May 2009 at 1:02PM

PhotoDave wrote: »

Firstly, thank you Martin for the template letters and advice that seen me reclaim nearly £9000 from HBOS for a loan taken out in 1999.

Initially I didn't think I'd be able to reclaim the PPI, as I had made a claim under the insurance.

I thought, can't be any harm in writing one letter! That letter led to an initial cheque of £5500 followed by another for £3500, detailing every penny! It would have been more if I hadn't made the claim, but the important issue is, they knew I'd made a claim, and still refunded the PPI plus interest! The cost of the PPI on the loan agreement was £5400ish!

I still went through with it, as I was told at the time that it would improve my chances of getting approved for the loan, something that we all know now is completely untrue!

Thanks again Martin and MSE!!

Dave

Thanks for posting here Dave, this will give hope to many others.;)
Many Congratulations.
:beer::T:beer:

bathgatebuyer · 17 May 2009 at 7:30PM

Hi all - nothing much to update. I appealed the original response from the FOS that I was outwith the timescale - despite their own correspondence being to the contrary - and awaiting their response.

Still angry!

di3004 · 17 May 2009 at 7:34PM

bathgatebuyer wrote: »

Hi all - nothing much to update. I appealed the original response from the FOS that I was outwith the timescale - despite their own correspondence being to the contrary - and awaiting their response.

Still angry!

Hi bathgatebuyer, its good to hear from you.

I bet you are still angry.......:mad:.

Hope you hear something soon and good news I hope, fingers crossed.;)

jus71_2 · 17 May 2009 at 9:16PM

well i just got a letter back from MBNA saying that I bought the policy over the phone. I certainly did not do this! I applied online in 2001 and only spoke to them to activate the card. They said unfortunatley they dont record all calls but they are confident their sales process is compliant. They also said I've left it too late to take it further as its outside of the time limits for referral to the FOS.

Then they implied I was a bit stupid saying I see it on my statement every month so I had plenty of time to cancel!

Is this worth pursuing?

Thanks

melorablack · 17 May 2009 at 9:35PM

jus71 wrote: »

well i just got a letter back from MBNA saying that I bought the policy over the phone. I certainly did not do this! I applied online in 2001 and only spoke to them to activate the card. They said unfortunatley they dont record all calls but they are confident their sales process is compliant. They also said I've left it too late to take it further as its outside of the time limits for referral to the FOS.

Then they implied I was a bit stupid saying I see it on my statement every month so I had plenty of time to cancel!

Is this worth pursuing?

Thanks

You may have applied for the card online but the policy may have been sold over the phone when you activated the card.

As you aren't happy I would say go to the FOS.. can't hurt to try

PPI Reclaiming successes and failures

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