PPI - Success stories?

Castiel · 23 May 2012 at 12:33

mp3duck said:
Egg are still going, but no longer do credit cards and loans

Egg have a specific department for dealing with PPI payments. Don't have details at work, but phone main number and they will put you though

I know they still do savings and investments......I didn't know whether you contact them or whether you contact the various companies who took on their Committments regarding loans and credit cards....

Thanks for the constructive answer, I will contact EGG directly. If I can find the paperwork. It was sometime ago.

mp3duck · 23 May 2012 at 13:02

Castiel said:
I know they still do savings and investments......I didn't know whether you contact them or whether you contact the various companies who took on their Committments regarding loans and credit cards....

Thanks for the constructive answer, I will contact EGG directly. If I can find the paperwork. It was sometime ago.

np, glad I could help!

Even if you don't have the paper work, you can still claim.
I just phoned them up, and they had all my details on file, and opened the case.
A week later they sent me the standard FSA Questionnaire to complete and return.

It was a very simple and easy process.

Can't believe people give PPI claim back companies 20% of what you get compensated with

James_N · 23 May 2012 at 16:28

Got £1,657 back from Natwest just this week. Did it all myself after reading moneysavingexpert

Never had any of my agreements, so sent a SAR to Natwest, they replied with all the info. Sent the FSA questionaires off, then got a letter with the offer. Sent the acceptance letter off and then got the money

s0ck · 31 May 2012 at 00:13

Is the SAR really necessary these days? There is some anecdotal evidence to suggest it's not as they all know what you're after now... PPI monies!

James_N · 31 May 2012 at 01:55

s0ck said:
Is the SAR really necessary these days? There is some anecdotal evidence to suggest it's not as they all know what you're after now... PPI monies!

I had gotten rid of all my records, and although I could go back through the direct debits via my online banking, there was no loan numbers or anything like that, so a SAR was necessary.

The banks have to comply with the SAR request anyway. They can't deny you access to your information.

AHarvey · 31 May 2012 at 20:38

Wife got a letter today from Virgin. £2,389

She had £450 a few weeks back and we've still go my credit cards/loans to check

mrmoose · 31 May 2012 at 21:19

I work in this industry and I'm hearing that at least half of people who are claiming their PPI back never had it in the first place.

Seeing a silly amount of money being paid out thought and I work for a tiny business in comparison to the big banks.

The Halk · 31 May 2012 at 22:31

mrmoose said:
I work in this industry and I'm hearing that at least half of people who are claiming their PPI back never had it in the first place.

Seeing a silly amount of money being paid out thought and I work for a tiny business in comparison to the big banks.

It's less than half - but it's still a huge number. The irony is the claims handling companies are way more dodgy than any bank was

lookitsjonno · 31 May 2012 at 22:48

Paid my credit card off today, thanks AA

[TW]Fox · 31 May 2012 at 22:56

mrmoose said:
I work in this industry and I'm hearing that at least half of people who are claiming their PPI back never had it in the first place.

Some of the posts in this thread alone highlight this, remember the guy who seemed genuinelly upset he'd never taken PPI after spending time phoning everyone up to see if he'd ever taken it?

If people need to actually CHECK to see if they had it, how do they know they were mis-sold it? If they can't remember they took it out they won't be able to remember being lied to about the product? This is the bit I don't understand.

I wonder what percentage of people who claim they were told they couldnt have a loan without it and received a refund actually WERE told that.. Infact here is one now...

AHarvey said:
She had £450 a few weeks back and we've still go my credit cards/loans to check

How do you know you were mis-sold PPI if, at this stage, you don't even know if you WERE sold PPI?

Azza · 31 May 2012 at 23:05

A lot of lenders particularly companies like Egg etc and some high street lenders would add it on any way.

If you think about it, 6-7 years a go every second advert on TV was egg, or Ocean Finance or something trying to give you a credit card or loan and the amount of people who'd just ring up and get credit and not read documents would have been massive. All these people who have been on the phone just saying "yeah yeah, what ever just give me the card / loan" ... not paying any attention to what they were being sold, they just wanted to credit or money.

The Halk · 31 May 2012 at 23:05

In all fairness, Fox, I think I can see why people are checking. The news is that PPI has been massively mis-sold, so people want to find out if they did have PPI and then check to see if what they were sold didn't meet their circumstances.

It was common in the first half of the 00s to force people to take PPI with a loan, but when the FSA took over regulation things got a lot fairer for consumers fast. Still though unmonitored stuff would have been rife with pressured sales.

Dave M · 31 May 2012 at 23:12

[TW]Fox;22044021 said:
If people need to actually CHECK to see if they had it, how do they know they were mis-sold it?

I'd have thought not even being told you were paying for ppi would be an open and shut case?

Yes you can call them idiots for not checking things properly but in some quarters bank staff have the same trust as lawyers and doctors (mostly) still have.

[TW]Fox · 31 May 2012 at 23:17

The Halk said:
In all fairness, Fox, I think I can see why people are checking. The news is that PPI has been massively mis-sold, so people want to find out if they did have PPI and then check to see if what they were sold didn't meet their circumstances.

I'd imagine the majority of claims are not from people who were sold it when they didn't qualify (ie self employed) but from those who claim they were misled - usually by being told they wouldnt get the loan without it. For those who genuinelly were told this then absolutely they should receive a refund and interest.

But if you can't even remember if you took PPI how can you honestly say you know they told you you HAD to have it?!

From a lenders perspective I would imagine it is almost, if not totally, impossible to seperate the genuine cases from the people trying it on and realising they now have a way of getting a full refund on a product they willingly accepted. Therefore they are left with little choice but to pay out to almost everyone.

BananaDunka · 31 May 2012 at 23:19

Basically, FREE MONEY >>> Everything else.

The Halk · 31 May 2012 at 23:23

[TW]Fox;22044177 said:
I'd imagine the majority of claims are not from people who were sold it when they didn't qualify (ie self employed) but from those who claim they were misled - usually by being told they wouldnt get the loan without it. For those who genuinelly were told this then absolutely they should receive a refund and interest.

But if you can't even remember if you took PPI how can you honestly say you know they told you you HAD to have it?!

From a lenders perspective I would imagine it is almost, if not totally, impossible to seperate the genuine cases from the people trying it on and realising they now have a way of getting a full refund on a product they willingly accepted. Therefore they are left with little choice but to pay out to almost everyone.

Indeed - and people are being coached to say they were misled by money saving forums, or claims handling companies.

If you don't remember taking PPI then it's easy to argue that if you didn't even know you had it then you weren't told it was optional, or that you were even getting it.

It is however very difficult to separate the wheat from the chaff. However we need to take the hit because if we had kept ourselves clean then we wouldn't be in this position.

flippant · 18 Jun 2012 at 10:04

MBNA have just informed me that I shell be receiving a cheque for 6.9k in the next 28 days.... Result for the cost of a stamp

I only filled in a form when I saw this thread, they are paying out for a credit card I had in the 90's 1.5k of premiums with interest at 8% Nice.

I was made unemployed back then, and tried to claim, but was told I wasn't covered, so I actually was misled.

soon to be seen in the things we bought in June thread.....

Quick update, Cheque arrived three days later and is in the process of being spent!

mike.grayizzle · 23 Jun 2012 at 12:09

Got a cheque for just under 2k today for a 5k loan taken out around 9 years ago from halifax. Good result by all accounts

Rusko187 · 23 Jun 2012 at 15:18

I got £2,173 2 weeks ago... Winner

Keltyx · 13 Jul 2012 at 14:36

Took out a loan over 10 years ago I knew I had PPI on. Filled in the forms, didnt expect a result as I had destroyed all the paperwork and had very few details about the actual loan itself. Got an offer just over £2.5k, many many happy, well worth the 30 minute effort.