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PostPosted: Sat Mar 02, 2013 6:21 pm 
King of the Skip Monkeys
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Location: Moomin Valley
No, its not some 'kitchens manchester' thread.

We went straight to Lloyds TSB directly to see if we had any PPI claims.

We did.

They have just told us how much we are due...

:shock:


If anybody has any qualms about taking the banks on, I strongly recommend that you do it. Dont go to any faux claims companies, just go direct to your bank or to the Ombudsmen.


Last edited by legrandefromage on Tue Nov 03, 2015 1:14 pm, edited 1 time in total.

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PostPosted: Sat Mar 02, 2013 7:13 pm 
Karma Queen / Cake Meisterin
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Yes absolutely do not go to these claim firms they'll just rip you off.

Alison


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PostPosted: Sat Mar 02, 2013 11:58 pm 
Gold Trader / MacRetro rider
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Joined: Sun May 25, 2008 11:03 am
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Isaac_AG wrote:
Yes absolutely do not go to these claim firms they'll just rip you off.

Alison

Parasites
This is what i called them as they quickly hung up.


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PostPosted: Mon Mar 04, 2013 3:16 am 
National & North West AEC
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Location: Macclesfield Forest
I was contacted by a PPI claims company about six months ago. I asked them how much they take from a successful claim to which they replied "37% of the final amount".
I baulked at this but still got them to send me a claim pack for reference.

I did a bit of research and thereafter ignored several phone calls from the aforementioned company.

These PPI claims companies seem to infer that it is difficult, expensive and time consuming to pursue a claim, when it's actually incredibly easy and, most of all, completely free.
You just need your account details and/or PPI reference numbers. (which I found on my loan agreement paperwork)

To pursue a claim all you need to do is fill in a copy of the Consumer Questionnaire from the Financial Ombudsman's website here: --> http://www.financial-ombudsman.org.uk/p ... s/ppi.html
Then send it to whoever supplied your loan or credit agreement along with a cover letter if you wish.
Your lender is legally obliged to respond within about four to six weeks to investigate further, and/or to offer a settlement amount if they uphold your complaint.

There is also some great advice along with template letters here: --> http://www.moneysavingexpert.com/reclai ... -insurance

I am thankful for the call from the PPI claims company for prompting me to pursue my claim, but I'm so glad I did it myself.

If you are successful then you should get back the full PPI amount plus interest plus an additional statutory 8% per annum accumulating compensation amount, which is calculated from the start of your loan agreement until the date of resolution for your claim. This part can really add up if, like me, your loan began 10 years ago.

The whole process from posting off my claim to receiving a cheque took about 12 weeks.
I received a very nice lump sum about two weeks ago which has cleared my overdraft, payed for a new van and still left a four figure sum in my savings account. That amount would've no doubt been absorbed by the company's fee.

Not a bad return for a couple of hours sorting through a bit of paperwork and writing a letter.

My girlfriend has also been similarly successful in her claim too.

A few things to remember are:
1) Don't use a PPI claims company as they will rip you off.
ii) It's alot easier than you think.
c) The banks etc. have allocated money specifically to compensate for mis-sold PPI. They are legally obliged to compensate their customers and, as far as I am aware, the uptake hasn't been as high as the banks anticipated.
( I suspect this is related to the first two points )

All of which reminds me; I must sort out my credit card claims...


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PostPosted: Mon Mar 04, 2013 8:21 am 
King of the Skip Monkeys
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/\/\/\/\/\/\ - What he said. I had a couple of loans in the past too so am going to repeat the process.

I dont want to say how much we got but it sounds similar to Paul.

just be aware that you may have to pay tax on the 8%


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PostPosted: Mon Mar 04, 2013 8:26 am 
Retro Guru
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Location: The Cock Inn, Tillett, Herts
I'm currently managing my own against a credit card firm. I don't need some other thieving git to write letters for me.


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PostPosted: Mon Mar 04, 2013 3:24 pm 
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Hm. I've been feeling slightly smug about having considered PPI to be a racket from the start and therefore declining it at every opportunity. But given:

Quote:
plus interest plus an additional statutory 8% per annum accumulating compensation amount


I'd actually have been better off being suckered in the first place. That can't be right, can it?


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PostPosted: Mon Mar 04, 2013 3:35 pm 
Karma Queen / Cake Meisterin
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Location: North Yorkshire
I heard on a telly programme about a bloke who claimed before the end of his loan he won about £2500 but ended up owing the PPI claims company £900 because they worked out how much he would have paid over the whole length of his loan and took their %cut from that, meaning he owed them money instead, they did eventually agree to waver this but he never saw any of the money the bank paid out.

Alison


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PostPosted: Mon Mar 04, 2013 5:11 pm 
Retro Guru
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Joined: Thu Jan 26, 2012 3:46 pm
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Location: Hampshire
What happens if you don't have any paperwork and are not 100% sure of the company i.e. it's one of two?


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PostPosted: Mon Mar 04, 2013 6:08 pm 
Old School Grand Master
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Joined: Thu Jul 19, 2007 7:18 pm
Posts: 3798
Location: Staffordshire
MikeD wrote:
Hm. I've been feeling slightly smug about having considered PPI to be a racket from the start and therefore declining it at every opportunity. But given:

Quote:
plus interest plus an additional statutory 8% per annum accumulating compensation amount


I'd actually have been better off being suckered in the first place. That can't be right, can it?


Oh, thank Goodness. I really thought I was the only person in the whole UK who can't really claim ppi. Other than a mortgage that was paid off ages ago, I really never have had a loan apart from a low amount student loan.

Not that the idiots who ring up believe me though.


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