Claiming PPI's

[Marcbrown46]

It turns out an old Loan I had with Northern Rock circa 2003 had PPI's attached ( Gold cover no less ) so I called Northern Rock who confirmed this was correct took my details and started the official claim process.

The lady asked the reason for my calim to which I replied " I was led to believe this was required as part of the loan and needed in the event of me losing my job etc "

Has anyone else had any sucess claiming PPI's back ?

Just wondered what my chances are of any sort of payout, I borrowed about £8000 but obviously paid back a lot more than that over the 5 years I had it !

[P.addy]

Yup, got my PPI back.

On a 2.5k loan over 5 years I got £1397 back.

They did take £470 of that though as a fee, you can go straight to the bank and get it without losing the ££

[bikertomm]

Since I've been insured with bikesure I get about 15 emails a day all completely SPAM and about 5 of them are PPIclaims bollox.

Cxnts!


____________________
07' Honda Hornet now full powaah! My guide on performing an oil change!

[cromwell]

I haven't got any experience of personally claiming it back but I worked for a company that was like one of the ones who advertise on daytime tv. From personal experience of handling other peoples claims I'd say I saw at least a 80% success rate of people getting money back. One old dear got back 12 grand off a credit card she didn't even know had it on, I remember someone else getting about 10 and a few getting 8, most people get back between a grand and five depending on length and size of loan.

Just a word of warning though it can take frigging ages to come through depending on who the loan was with, HSBC used to pay out within 7 days of receiving a claim, whereas Lloyds banking group used to take forever, had clients that were waiting nearly a year for it all to go through, which makes one of said companies appealing as they follow it up for you and keep banging on the banks door. Is pretty simple filling the claim personally although it does contain a bit of paperwork, nothing too taxing but the reason we made a killing is the majority of people are either too lazy or can't be bothered to stick it out. Most of them charge about 25% for doing it all for you, pretty hefty if it's a big claim but after signing the paperwork they literally do everything for you so some see it as the better option.

Either way, good luck with it all and if you have any questions drop me a message.
____________________
"unbelievable"
Current - Suzuki Bandit 600
Ex's - Yamaha YBR 125

[iooi]

Oh and remember that you are liable for income tax on any payout....
____________________
Just because my bike was A DIVVY, does not mean i am......

[Handsome]

I've never looked into it...

A couple of things have always interested me though, I had a 3k loan with HSBC a few years back, 6/7 years when I signed the paperwork, payed back more than that obviously, I was told to take out ( I didn't ask for it, it may have been suggested in a way that I should, not 'told' per say ) the cover incase of illness or redunadancy so I did, it that what these claim back companies are interested in, ie even though I knew of it and signed it could I claim ?...

And the other point is, if you claimed from your bank could they then be 'funny' with you or even take steps to close your account ?...
____________________
Previous Bikes...Honda NSR 125 RR...Kawasaki Zephyr 550...Suzuki SV 1000 S...Yamaha FZ8...Current Bike...Suzuki GSX-R 750...

[iooi]

[boundy]

I done the claim form for my Wife last year, Abbey told her she would not get the loan unless she took out PPI, this was almost 6 years before she claimed. I just down loaded the forms from the FSA website, filled it in and sent it off to Abbey, within a month the cash was in the bank.


Using a claim company will not increase your chance of succsess, your a mug if you use one, you'll end up giving them 20-30% of your award for just filling in a form that takes 20 minutes.

[The Shaggy D.A.]

[Nb]

I got 700 pound back from santander last year,copied the example letter from moneysavingexpert site and the bank sorted it out within 3 weeks.
____________________
Cbr1100xx blackbird gone, mk4 golf gt tdi chav now
Colin1 wrote 'Im grateful for what i can get, which isnt all that much.'
Columbus travel insurance are crap!! Do not use!

[Kickstart]

[andys675]

got £2100 back last year from lloyds mastercard, now hitting them for mortgage protection payments made every month for last 7 years, hello new bike!
____________________
Some people feel the rain, others just get wet.

[hellkat]

Go for it if you get the chance.

A mate of my bloke's who we bumped into last week (and who we haven't seen for a year) was absolutely delighted to tell us that he had managed to get out from under a pile of debt due to having reclaimed something like £15-20K in relation to the PPI thing ... I think he must have had loans for bikes or something, but I've rarely seen someone so beside himself with pleasure at finally being debt free
____________________
Not nearly as interesting in real life.

[Valentino Mossy]

I claimed back £480 from my credit card,£6000+ from three loans with lloydstsb... im in the middle of sorting out 3 loans with tesco and aiming to get back hopefully £4k....
Also had 2 rejection letters off rac loans and now sending a letter to the fos to sort them out...

Go for it... very easy to do...if you want links or info i can send you all the bumpf in an email.....
____________________
Ducati 916,white framed corse replica https://www.bikechatforums.com/viewtopic.php?t=239309
Ducati 160 monza jnr soon to be cafe racer
https://blauschatfroums.freeforums.net/

[Louise]

Glad this has been posted as I have been looking up on claiming back PPI.
Now Ive looked at MoneySaving site and have taken note, but when it comes to sending stuff off im not the brightest cookie in the box.
I have here a letter asking for my T&C's to HBOS for a loan I took out 5-6 years ago with the £1 cheque.....
I cant remember if I added the insurance or not....
Have people skiped this part and just sent off a claims form right away & not bothered asking for there T&Cs? :/
Really want to do one for my dad, whos had a loan with Blackhorse for god knows how many years..

[iooi]

[Sparks!]

I sent one letter to HSBC and was amazed when I received a payment of £2700. Took a long time and it was only on a £6000 or so loan! Not sure how they worked it all out but that was a good day
____________________
Current Toys: 06 Yamaha WR250F | Nissan 350Z GT | Tech 4 Homes

[Visitor Q]

Can someone explain this to me in lay-mans (rather than just googling it) as it seems odd to get that kind of return back from a loan (the 1500 from a 2500 loan example) unless this is basically giving you back all the interest you paid...

Or were theses really long loans?
____________________
China traffic/travel bike vid - When I make a sweeping statement, please add the word 'statistically' in to the sentence before you bitch...
From September 2014 to January/February 2015 I will not be using any English, nor reading any. As such, I won't be on here. PM at will, but I won't be checking/posting unless in emergencies. Certainly not for the first couple of months. Please berate me savagely if I break that rule...

[iooi]

What you get back is the PPI charge on the loan and also the interest that was payable on the PPI. As the PPI was loaded onto the loan at the start.
So as you can guess. The interest can be a large amount.

Also many banks wont work it out to the penny what it was and will just refund the PPI and interest in full.

TBH. Anyone thinking they might have been sold one of these. Is best checking the Bank/loan providers website. As they ALL should have the contact details you require to get started.

Louise. Fron HBOS website....

[Derivative]

[Louise]

Cheers for the number.
Ive called all my creditors past and present and I have no PPI on anything
Will try dads later...

[andym]

I had PPI on a loan once, when I took out the loan they told me that it was better to take it out in the first place as it dropped the interest by 2% or something, and their words were, 'if you leave it a month then cancel it then you get the lower interest and don't have to keep paying the insurance'...

I kept it going and because I was off work sick for a few months I called up to inform them, they said they would send me a form... I never heard anything back from them and because I couldn't afford the repayments I defaulted on the loan... come to think of it... I still owe almost £5,000 which I'm paying back at £5 a month hmmm

[Fawbish]

Ok,

I've had in total from Lloyds - a credit card (£1500), 3 seperate loans, and then all of the above was consolidated into a loan I now pay.

On 2 of the original loans I think I was paying PPI, though I dont ever remember asking for it. (I also dont remember denying it though tbh)


Am I in a position to claim anything back? Can anyone point me in the right direction? If I can do it by email/phone then I will, dont get much time to actually go into the bank.

Edit: I dont mind having the PPI on the current loan, as if things go tits up at work it should cover me (I hope).

I've moved like three times so paperwork is a bit sparse (idiot, I know)



UPDATE: Called up, lodged a complaint, theyre sending me paperwork out that I have to have a gander at within 5 working days.

Of my three loans, the two smallest ones had PPI (£1k and £2.5k) and I just told them on the phone I did not ask for PPI, I dont remember being told that PPI would be included in the payment (checked online banking at the loans were all 1 payment each - not seperate PPI payments - does this mean I have a stronger case?)
____________________
"Oh....it looks like Average Joe's is forfeiting the match!" - "Yeah, its a risky strategy but lets see if it pays off for 'em Cotton."

[boundy]

[Marcbrown46]

Good news !!!!

Just received a letter from Northern Rock offering me £2920 which will be paid within 28 days

The Whole process only took 30 days !!

Time for a new bike me thinks