Forums Forums Wirral Information Law And Your Rights PPI Claims

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.

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

I claimed mine straight from the bank it took 3 weeks and got 1300

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.

my brother in law has just got back


£11,000..............

and thats not bs.....


jammy lucky buggar

danny

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.

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.

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.

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.

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?

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

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

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...

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.

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