PPI Reclaiming successes and failures

Nhsmummy · 11 January 2018 at 11:55PM

So a couple of months back I was searching in the attic and found a Lloyds CC statement from 2000 stating payment protection as a monthly fee.
I phoned Lloyds, who I still have an account with, and was advised this was dealt with and paid out in 2007. Ok so I forgot but 3 kids later etc I can be forgiven!
But the lovely man on the phone said " I can see you have had a loan with us in the past, I think it may be an idea if we look at it as possible ppi may have been added". I received paperwork to fill in, but again phoned them as I was unsure of the loan dates he had mentioned, to which his reply was "well I can see right back to 1993 and you have had 7 loans since then!" Again yes I know I had forgotten and had no paperwork!
Anyway 8 weeks later......cheque for £3900 😀 ! 5 of the 7 loans had ppi from 1993-2005. These were consolidated each time, can't even remember what they were for but I had a good early 20s!
Anyway if you haven't checked you have been missold then do it now! And it appears to be from 25 years ago!

MLA78 · 13 January 2018 at 3:15PM

I put in a claim for PPI from a loan for £8000 I had taken out with Barclays Bank in 2005. I received all my payment, interest and compensation totalling £4140. This cheque came with a letter from Barclays Bank.

I put in my original complaint through Resolver filling in my specifics on the email on 20th December. A few days later I got a letter from Barclays Bank dated the 21st December stating they had received my complaint and how it would be dealt with and my contact email address and mobile phone number. The email address was an old one which hadn't been updated as I no longer bank with Barclays so on the 29th December I rang them up to change the email address. The guy on the phone told me that the account had been updated and the complaint upheld and I would be getting a refund of just over £4000. I was gobsmacked to say the least. Not only about the amount but how quickly this had happened. A week later the letter and cheque turned up and I have since cleared 3 credit card debts which feels AMAZING!!

Thank-you Martin, Resolver and all at MoneySavingExpert.com

robbedofmymoney · 15 January 2018 at 3:36PM

I received a response this morning confirming my complaint has been upheld regarding the sale of overdraught protection insurance.

the premiums paid totalled just over £1,340 over a 15 year period, my total redress is just over £4,100 which was more than I was expecting to get so i'm a happy chap today.

my main reason for complaint is that I already had income protection insurance with Lloyds themselves and this was discussed at the point of sale.

theyiddo · 16 January 2018 at 12:09PM

Just did mine in November for my old Egg loan. I was hoping it might be a grand or 2 if I was lucky. Got a confirmation letter this morning though that a £7.5k refund is on its way to me (less the bit extra I'll have to give to HMRC on the 8% interest).

Happy days.

Almost-free · 16 January 2018 at 3:12PM

I filed a case with Barclays on Friday and received a refund of £837 yesterday. It's smaller than many of he refunds on this thread, but tbh I never expected to get anything as I had actually made a claim on my insurance when I was unemployed for a year then diagnosed with cancer .

Wolf52 · 17 January 2018 at 6:42PM

What were you reclaiming: (eg. loan, credit card, store card) Credit card
Who was the provider: (e.g. Capital One, NatWest) MBNA (Virgin) and Amex
How much did you get back: £2,421.19 and £3,791.72
Did you get it back after a letter or did you go to the Financial Ombudsman: Wrote a letter stating reasons why I thought I had been mis-sold.
And then write your brief reclaim tale: No real tale to tell, finally after months of wondering whether I had been mis-sold, I wrote to them and they said yes, it appears you were.

Also had 2 offers under Plevin, £876.93 from Argos (accepted) and £1119.02 from M&S (awaiting further info before accepting).

Yay, this will help with repairs to the home and go to my birthday fund.

Nina

mason144 · 17 January 2018 at 10:31PM

New to site, first comments, so hopefully in the right place and of use to others.:)
I engaged Gladstone Brookes to reclaim PPI - in short they did a good job and I understood the 25% + VAT charge on any monies I got back. Stupid I now know, but I also know I wouldn't have done this myself, whilst working full time

What I didn't know, and what wasn't made clear to me is the fact that they charge 25% + VAT on monies the bank paid directly to HMRC in relation to the interest added to my reclaim value - I never saw a penny of it yet GB want 25% commission + VAT from me, not HMRC !!:mad:
I will complain on the basis that I understood 25% +VAT on money I got back, not on money the revenue office got. I also think there is an issue with me having to pay VAT on tax paid to the revenue - surely this is double bubbling. HMRC get the tax on the interest I received, GB calculate their fees including this tax and then add 20% Tax - this to me is just wrong. MikeM

[Deleted User] · 17 January 2018 at 10:44PM

Unfortunately, it's all legitimate.

They outline the costs in their contract and they know that the kind of people who use claims companies don't check what they're signing up to.

[Deleted User] · 18 January 2018 at 12:29AM

mason144 wrote: »

I will complain on the basis that I understood 25% +VAT on money I got back, not on money the revenue office got.

Good luck complaining about the Taxman!

dunstonh · 18 January 2018 at 10:16AM

What I didn't know, and what wasn't made clear to me is the fact that they charge 25% + VAT on monies the bank paid directly to HMRC in relation to the interest added to my reclaim value - I never saw a penny of it yet GB want 25% commission + VAT from me, not HMRC !!

It really shouldnt need to be made clear as that is how it works in all walks of life.

I also think there is an issue with me having to pay VAT on tax paid to the revenue - surely this is double bubbling.

You are not paying VAT on tax paid. You are paying VAT on a fee set by the claims company. The fact they calculate the fee based on the redress is a totally separate thing.

this to me is just wrong.

Its not. Not even close to being wrong.

PPI Reclaiming successes and failures

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