Ppi

Buff

As the subject states, has anyone been through this yet, or are mid way through and has some advice?

I was mis sold PPI on a loan I had a few years ago, and I have just plucked up the nads to go after them to claim it back.

Just wondering if any of you guys have experience in dealing with this situation?

Bluewednesday

Have a look at Martin Lewis's money saving expert forum, I haven't reclaimed PPI but I did put a claim in for endowment misselling (received £1000) just by following the procedure on his website.

burg

As Bluewednesday put see http://http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

I am in the process of reclaiming although RBS are being quite hard and slow, typical bank really!

My mum has recently reclaimed from first direct, she sent letter 1 from MSE and they sent a letter back saying ok we will send you a cheque for the refund, aprox £2500.

If you also see the forums on MSE there are loads who have claimed & most succeeded,

Good luck

Buff

Just thought I'd update :

After sending a Subject Access Request and sifting through the buff that they sent and then me asking them for my money back with interest and stat interest, I received two letters recently (one for each claim) - one refunding a little over a grand and one a little under a grand.

My advice to you is have a look at your agreements and see if you have been / were paying PPI on your loans and request all details relating you you that they have on their systems under the FOI act.

It has taken 6 months from start to finish but there has been minimal work involvved, just typing a couple of letters and keeping copies of whatever they send to you and then just wait for the response!

I'm off out to buy a new TV and an uber PC so I can link them up and hide the PC tower and just fill it with movies :-)

lork

Congratulations on your rebate. My sister has just received almost £600 from a PPI claim which was found to have been mis-sold. When I get round to it, I'm going to see if I have any paperwork on old loans... certainly worth putting in a claim!

Buff

Lork, it is indeed well worth it!

Don't search for the paperwork yourself - submit an SAR to the bank and ask them to provide everything they hold on you and all of your accounts, loans, credit cards and any other means of credit etc. Send them a cheque for £10 and they have 40 days under the freedom of info act to respond with the goods.
go from there#

if you need any assistance, then go to Consumer Action Group forums and PPI threads, theres loads of templates and helpful peopl on there, or go to Martin Lewis website (also good templates but not so many people helpng out as the CAG forums)

Gem7321

Sorry if I'm being stupid, but why didn't you go to the bank straight away? When I worked in a bank we used to get people coming in who'd just taken out a loan or credit card with PPI which they didn't want and we could cancel it immediately and then there's no need for all this hassle for both parties

Buff

one of the conditions of the loan was that we had to take out this insurance or else they wouldn't let us have the credit.

Having just started in new employment on taking out both loans, taht wasthe excuse I was given.

"You won't get credit unless you take this insurance out with the loan as you have just started in new employment".

I only started the claim in Jan this year because I found the website and read a few stories and realised tat yes, that I was conned into taking out soemthing which was against what I wanted.