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#680188 - 29th Mar 2012 7:30pm PPI Claims
TommyThumb Offline
Newbeee

Registered: 21st Mar 2010
Posts: 33
Loc: Bromborough
I have just started claiming back PPI from a number of lenders.
I was wondering if anyone out there has had success with there claims or disapointment and how much you received. smile

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#680192 - 29th Mar 2012 7:45pm Re: PPI Claims [Re: TommyThumb]
boogaloo Offline
Enthusiast

Registered: 6th Jul 2011
Posts: 112
Loc: wirral
hi, my mum did this and won 1200 but had to pay fees of 685, at least she got some bk. it took a while but hang in there as it is worth it xx

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#680194 - 29th Mar 2012 7:50pm Re: PPI Claims [Re: TommyThumb]
vw_kyle Online   content
Forum Addict

Registered: 27th Dec 2006
Posts: 1972
Loc: wirral
I claimed mine straight from the bank it took 3 weeks and got 1300

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#680197 - 29th Mar 2012 7:53pm Re: PPI Claims [Re: boogaloo]
TommyThumb Offline
Newbeee

Registered: 21st Mar 2010
Posts: 33
Loc: Bromborough
Looks like she went through a claims company.
I have contacted the lenders direct to cut out the middle man.
For the cost of a few phone calls and 15 minutes of my life it should be worth while.

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#680202 - 29th Mar 2012 8:07pm Re: PPI Claims [Re: TommyThumb]
dannyp13 Offline
Newbeee

Registered: 18th Mar 2012
Posts: 19
Loc: bebington
my brother in law has just got back


11,000..............

and thats not bs.....


jammy lucky buggar

danny

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#680222 - 29th Mar 2012 8:47pm Re: PPI Claims [Re: dannyp13]
TommyThumb Offline
Newbeee

Registered: 21st Mar 2010
Posts: 33
Loc: Bromborough
Thats brilliant.
1st there was the bank charges,overdraft fees etc...
2nd PPI

What next? The banks have been ripping hard working people of for years.

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#680228 - 29th Mar 2012 8:57pm Re: PPI Claims [Re: TommyThumb]
missj Offline
Member

Registered: 25th Apr 2011
Posts: 86
Loc: Wirral
PPI reclaim guide - free!

There's no hard and fast rule as to how much each person will be refunded, it all depends on how much you've paid into these insurances, over what period of time etc but there's millions still unclaimed. If you're offered a goodwill gesture without admitting liability then its best to get FOS involved. They're upholding most of the claims. Have a good think about what lines of credit you've used in the past and make sure you check for insurance on all policies, storecards, loans, mortgages, car finance companies etc. The link above is a free guide with template letters to send to providers and an explanation on how best to fill them out.

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#680259 - 29th Mar 2012 10:03pm Re: PPI Claims [Re: missj]
jimbob Offline

Forum Addict

Registered: 26th Nov 2008
Posts: 1544
Loc: Birkenhead
There is a link on Lloyds TSB web site to the paper work that can be downloaded for making a claim. The copy right of the forms are owned and issued by the Financial Ombudsman Service.
_________________________
Ships that pass in the night, seldom seen and soon forgoten

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#680303 - 30th Mar 2012 12:50am Re: PPI Claims [Re: jimbob]
Alonso Offline
Addict

Registered: 29th Dec 2010
Posts: 256
Loc: Moreton
In 1993 I borrowed 13000 from the HSBC to do some improvements. I had stacks of insurance cover...so i took the policies with me. The prat dealing with me told me that I needed to take out the bank's insurance policy, adding 23.00 a month to the repayments. His assistant a young woman pointed out to him that I didn't need it as i had cover of my own. 'Yes he does' he said in an angry manner.

Well I was concerned to get the loan as I had already started the work. So I signed on the dotted line. Two years later I was able to pay off the loan and I cancelled the policy (which was scheduled to run for ten years). But I must have paid about 500 or more in unnecessary insurance before i did.

I wish I had kept the paperwork as even though this was 19 years ago I would still have complained as I was so incensed at the time. It was a form of blackmail.

Some people tell me to have a go but I think it's far too late now.

Apparently our banks are supposed to be writing to us. I've not received anything yet. Just wish they had brought this legalised theft into the headlines back when I was conned.

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#680309 - 30th Mar 2012 3:04am Re: PPI Claims [Re: TommyThumb]
Elizabeth Offline
Veteran

Registered: 28th Jul 2011
Posts: 718
Loc: Prenton, Wirral
Is this insurance the same as we have in USA which is called payment protection? I work in a bank and yes we offer the payment protection on all types of loans including coverage for loss of life, disability and unemployment. We always have to tell the person taking the loan that the insurance is voluntary and that it's not in anyway going to affect whether they get approved or not. I'm curious to know if this lawsuit with the British banks is because of the wording in as much as they pretty much forced people to take it? If it's not, will someone please enlighten me as to why there is all this commotion about it?

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#680312 - 30th Mar 2012 6:44am Re: PPI Claims [Re: Elizabeth]
MikeT Online   content
Smartchild

Registered: 23rd Apr 2010
Posts: 550
Loc: Canary Islands :)
Originally Posted By: Elizabeth
will someone please enlighten me as to why there is all this commotion about it?

It's called PPI (payment protection insurance). The banks pushed it very hard when lending money, and a lot of people who didn't want or need it were pressured into buying it. It was VERY profitable for the banks, especially as the insurance companies are expert at wriggling out of subsequent claims.

Essentially, the claims people are making now are for "mis-selling" = selling an unsuitable policy.

This is a very good guide explaining the situation and with template letters to download, fill in and send to your lender. CLICKY

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#680359 - 30th Mar 2012 11:07am Re: PPI Claims [Re: TommyThumb]
delta6 Offline
Smartchild

Registered: 24th Apr 2009
Posts: 498
Loc: Moreton
i can help anyone on here with their ppi claims if wanted.
ive just helped someone on here get back 7000 and ive also helped friends get back a total of 30000.
im not a financial adviser by the way. i did my own claims after some advice i got and im happy to pass that on.
do not use a company to help you. its a rip off for the sake of 15mins and the price of a stamp as shown in post 2 on here.
pm me

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#680477 - 30th Mar 2012 5:20pm Re: PPI Claims [Re: Elizabeth]
Toffeenose Offline
Old Hand

Registered: 16th Aug 2010
Posts: 372
Loc: Wallasey
Originally Posted By: Elizabeth
Is this insurance the same as we have in USA which is called payment protection? I work in a bank and yes we offer the payment protection on all types of loans including coverage for loss of life, disability and unemployment. We always have to tell the person taking the loan that the insurance is voluntary and that it's not in anyway going to affect whether they get approved or not. I'm curious to know if this lawsuit with the British banks is because of the wording in as much as they pretty much forced people to take it? If it's not, will someone please enlighten me as to why there is all this commotion about it?
Some people declined it, but it was added on to the loan anyway(myself), some people where charged it without being asked if they wanted it and some people where never ever going to be able to claim it because of their circumstances .....Basically it was mis sold on a massive scale, although im sure there are one or two who are claiming it back that arent entitled to , but who cares...the banks brought this on themselves...


Edited by Toffeenose (30th Mar 2012 5:21pm)

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#680479 - 30th Mar 2012 5:23pm Re: PPI Claims [Re: TommyThumb]
Toffeenose Offline
Old Hand

Registered: 16th Aug 2010
Posts: 372
Loc: Wallasey
I also recommend anybody to do it yourself.Forget the claims companies, just after your money.Use the templates already provided and you shouldnt have too many problems if you have a case.

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#680696 - 31st Mar 2012 12:33am Re: PPI Claims [Re: MikeT]
Elizabeth Offline
Veteran

Registered: 28th Jul 2011
Posts: 718
Loc: Prenton, Wirral
Originally Posted By: MikeT
Originally Posted By: Elizabeth
will someone please enlighten me as to why there is all this commotion about it?

It's called PPI (payment protection insurance). The banks pushed it very hard when lending money, and a lot of people who didn't want or need it were pressured into buying it. It was VERY profitable for the banks, especially as the insurance companies are expert at wriggling out of subsequent claims.

Essentially, the claims people are making now are for "mis-selling" = selling an unsuitable policy.

This is a very good guide explaining the situation and with template letters to download, fill in and send to your lender. CLICKY

That's pretty much what I thought, it's why we're read the riot act here by the insurance companies who provide the cover for the loans we offer. We absolutely HAVE to say it's voluntary and make it clear to the customer that they don't have to take it. There's also an opt out option for those customers who have taken it and then decide against it, no matter how many months they've been paying the loan. Having said that though, I have known many people who've voluntarily taken the payment protection and been very happy they did, especially when they have needed to make a claim. Many of them would have had their cars repo'd if they had not taken the insurance especially in todays current climate where losing your job is getting too much of a common occurrence.
Thanks for yours and Toffeenose's explanation though smile


Edited by Elizabeth (31st Mar 2012 12:33am)

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