15 replies to this topic

[cradley-heathen]

i am in the process of claiming back my ppi payments from sainsburys bank, on a loan i had a few years back. im still paying the balance off, i think there is about 16 months to go now.

recently i cancelled the ppi on the policy to save a few quid, this was in the last month.

sainsburys basically called me a few days after i contacted them by phone, and asked me a few questions, the guy on the phone was very nice and he also pointed out that the 2 previous loans i had before this one (i thought i only had one before, apparently not) also had ppi which he would be looking into too.

he also said it could take up to 8 weeks (i think it was 8) before anything happens, but assured me at several points in the conversation that it would be much quicker.

thursday i recieved a letter saying that after "extensive research of our archives" revealed that infact i didnt even have ppi on my loan!

it obviously wasnt that extensive, i only cancelled it 4 weeks ago, and less than a week ago a guy called me saying he was looking on the computer at my details and could see i had ppi on all 3 loans i have had over the years with them!

my god, what a bunch of clowns, i havnt been able to get in touch wit them as yet as they are only open in normal office hours and i have been super busy at work, but they are going to get it monday!

[MiniLuke]

I don't get this ppi claiming thing to be honest.

Surely those claiming it back need to prove it was mis sold in the first place.

As this is your third loan with it, did you not know you were taking it out. I've always managed to say I don't want it on any loans I've taken.

Can anyone who took it out now claim it back then, regardless of mis selling?

[Old Bob]

Have to say that I too don't understand how people got suckered into buying PPI. It was all in the small print and anyone like myself who is self employed was never going to qualify for protection.

While I accept that most banks were both corrupt in their selling practices and incompetent in their own business management, I think the people who bought into a protection scheme which offered no protection must take some responsibility themselves.

Bob

[Shifty]

Its fun isn't it??!!

I've done about 10 now, not all mine but for friends and family as well. Just about to start arguing with HSBC about the settlement figure they have offered me as it appears to be missing 6 years of payments.

All you can do is keep at them, if you get stuck give the financial ombudsman a ring, they are very helpful indeed and usually if you start to mention in letters that you've been speaking to the FO then they start to play ball a bit.

All it is is stalling, the more difficult they make it more chance of you giving up and going away, or just accepting their offer to get it over and done with.

With my latest HSBC one they claim they never recieved my forms, despite me speaking to then weekly and having emails saying the claim was being investigated. I even phoned them up 2 weeks after sending it and was told they had it. I ended up complaining about the PPI complaints proceedure and once I sent a new form in it was investigated and upheld within 2 weeks. This is the one that has 6 years of payments missing so that will be dealt with next week. They also pulled the same trick on my mum, unfortunately she never read the letter properly and just took the offer. I'll be speaking to the FO to see what can be done with that as well!!

I've sent cases to the FO and had then go my way, it does take ages though.

Keep at em!!

[R1mini]

I think there are an awful lot of people now trying it on so to speak, particularly via these claims companies.

However the banks just pushed PPI to any customer regardless wheather they were suitable or not

Cheers
David

[M J W J]

I keep getting contacted by companies saying that they have checked my details and that they could get the ppi back on my loan. Funny that. I've never had a loan.

[cradley-heathen]

hey if they are prepared to give me a couple of grand back, then i think its worth the effort!

[Shifty]

If you haven't already its worth doing one of these..

http://www.equifax.c...ory-report.html

I did one and there was stuff on there I'd forgotten about!!

[ginsters]

I phoned Halifax up about a loan I was given,told them I was told I needed the insurance as I was self employed,he took my details and told my I would have a answer in 8 weeks pretty much to the day I got letter letting me know I was getting the money back no hassle they just got on with it

[cradley-heathen]

well, to put the ending to this story.....

it hasnt even been a month yet, and today i got 3 letters in the post.

letter one:
"sorry for miss-selling you ppi" and "sorry for me having to take the trouble to get in touch" etc, we are giving you £xxxx to settle the issue.

letter two:
not realy a letter at all, just a cheque for one amount from my first loan.

letter three:
another cheque for a ruck of cash from this loan.

i didnt have to fill any forms in, all i did was call sainsburys, and say i was miss-sold my ppi, and i got the money back a month later. maximum result, minimum effort. i can now do some wise things with the money, settle the small amount remaining on my loan, get myself out my overdraft, and spend some on the metro, 1380 here we go!

[charie t]

i had a £3200 loan from the one with a black horse logo, in december 2006 does that fall into this ppi category?
I've no idea if they sold me it or not, i didn't use it either way

[cradley-heathen]

i had a £3200 loan from the one with a black horse logo, in december 2006 does that fall into this ppi category?
I've no idea if they sold me it or not, i didn't use it either way

i know someone who got a ppi refund from lloyds, they just went into their local branch, and that was it, they had the money in about a week!

[MiniLuke]

But were you mis sold it?

[wolfie]

It seems a lot of people were not told about ppi when taking out a loan it was just lumped into the premiums

I have done a friends, as he had a bad credit rating he had to go to a lender that told him that they would not lend unless he took out ppi he just got back 7k

Not sure why people also use these companies claiming it back is very very easy as easy as filing out a form and a letter certainly not worth paying 30% of their claim

[cradley-heathen]

But were you mis sold it?

yes i think i was miss-sold it!

when i took my loan out my credit rating was pretty bad (i had only just started work full time back then, student days had made a right mess of my finanaces) the lady on the phone suggested that if i didnt take the insurance i may not get the loan. if thats not miss selling i dont know what is.

when i took out my second loan, they didnt explain that if i was made redundant my insurance would only kick in when i had no income from the company. for teh first 6 months of redundancy i would be getting half salary, so they wouldnt pay up.

even if you think you wernt miss-sold it, its a bank that is giving you your own insurance money back. they still keep the interest that has been paid so they are still making a profit. its not like they take the money off old ladies to give back to you.