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PPI Claims #680188
29th Mar 2012 6:30pm
29th Mar 2012 6:30pm
Joined: Mar 2010
Posts: 33
Bromborough
T
TommyThumb Offline OP
Newbeee
TommyThumb  Offline OP
Newbeee
T
Joined: Mar 2010
Posts: 33
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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Re: PPI Claims [Re: TommyThumb] #680192
29th Mar 2012 6:45pm
29th Mar 2012 6:45pm
Joined: Jul 2011
Posts: 112
wirral
B
boogaloo Offline
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boogaloo  Offline
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B
Joined: Jul 2011
Posts: 112
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

Re: PPI Claims [Re: TommyThumb] #680194
29th Mar 2012 6:50pm
29th Mar 2012 6:50pm
Joined: Dec 2006
Posts: 1,994
wirral
vw_kyle Offline
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vw_kyle  Offline
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Posts: 1,994
wirral
I claimed mine straight from the bank it took 3 weeks and got 1300

Re: PPI Claims [Re: boogaloo] #680197
29th Mar 2012 6:53pm
29th Mar 2012 6:53pm
Joined: Mar 2010
Posts: 33
Bromborough
T
TommyThumb Offline OP
Newbeee
TommyThumb  Offline OP
Newbeee
T
Joined: Mar 2010
Posts: 33
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.

Re: PPI Claims [Re: TommyThumb] #680202
29th Mar 2012 7:07pm
29th Mar 2012 7:07pm
Joined: Mar 2012
Posts: 19
bebington
D
dannyp13 Offline
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dannyp13  Offline
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Joined: Mar 2012
Posts: 19
bebington
my brother in law has just got back


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

and thats not bs.....


jammy lucky buggar

danny

Re: PPI Claims [Re: dannyp13] #680222
29th Mar 2012 7:47pm
29th Mar 2012 7:47pm
Joined: Mar 2010
Posts: 33
Bromborough
T
TommyThumb Offline OP
Newbeee
TommyThumb  Offline OP
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T
Joined: Mar 2010
Posts: 33
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.

Re: PPI Claims [Re: TommyThumb] #680228
29th Mar 2012 7:57pm
29th Mar 2012 7:57pm
Joined: Apr 2011
Posts: 86
Wirral
M
missj Offline
Member
missj  Offline
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M
Joined: Apr 2011
Posts: 86
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.

Re: PPI Claims [Re: missj] #680259
29th Mar 2012 9:03pm
29th Mar 2012 9:03pm
Joined: Nov 2008
Posts: 1,626
Birkenhead
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jimbob Offline

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jimbob  Offline

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Joined: Nov 2008
Posts: 1,626
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
Re: PPI Claims [Re: jimbob] #680303
29th Mar 2012 11:50pm
29th Mar 2012 11:50pm
Joined: Dec 2010
Posts: 256
Moreton
A
Alonso Offline
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Alonso  Offline
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A
Joined: Dec 2010
Posts: 256
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.

Re: PPI Claims [Re: TommyThumb] #680309
30th Mar 2012 2:04am
30th Mar 2012 2:04am
Joined: Jul 2011
Posts: 720
Prenton, Wirral
E
Elizabeth Offline
Veteran
Elizabeth  Offline
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Joined: Jul 2011
Posts: 720
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?

Re: PPI Claims [Re: Elizabeth] #680312
30th Mar 2012 5:44am
30th Mar 2012 5:44am
Joined: Apr 2010
Posts: 574
Canary Islands
MikeT Offline
Smartchild
MikeT  Offline
Smartchild
Joined: Apr 2010
Posts: 574
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

Re: PPI Claims [Re: TommyThumb] #680359
30th Mar 2012 10:07am
30th Mar 2012 10:07am
Joined: Apr 2009
Posts: 537
Moreton
D
delta6 Offline
Smartchild
delta6  Offline
Smartchild
D
Joined: Apr 2009
Posts: 537
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

Re: PPI Claims [Re: Elizabeth] #680477
30th Mar 2012 4:20pm
30th Mar 2012 4:20pm
Joined: Aug 2010
Posts: 372
Wallasey
T
Toffeenose Offline
Old Hand
Toffeenose  Offline
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T
Joined: Aug 2010
Posts: 372
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...

Last edited by Toffeenose; 30th Mar 2012 4:21pm.
Re: PPI Claims [Re: TommyThumb] #680479
30th Mar 2012 4:23pm
30th Mar 2012 4:23pm
Joined: Aug 2010
Posts: 372
Wallasey
T
Toffeenose Offline
Old Hand
Toffeenose  Offline
Old Hand
T
Joined: Aug 2010
Posts: 372
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.

Re: PPI Claims [Re: MikeT] #680696
30th Mar 2012 11:33pm
30th Mar 2012 11:33pm
Joined: Jul 2011
Posts: 720
Prenton, Wirral
E
Elizabeth Offline
Veteran
Elizabeth  Offline
Veteran
E
Joined: Jul 2011
Posts: 720
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

Last edited by Elizabeth; 30th Mar 2012 11:33pm.
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