Over and out – now the PPI deadline's passed, we're celebrating our Forumites' reclaim successes
Yes, we're STILL banging on about PPI reclaiming… sorry, not sorry.
It's almost two weeks now since the PPI deadline passed. And here at MSE Towers, we're feeling a little out of sorts. Like that period between Christmas and New Year when you don't know what day it is, and feel like you've actually morphed into a turkey and cranberry sauce sandwich.
You see, it's been a labour of love for many of us over the last decade (and then some) – working hard to share our tips on how to pursue reclaims from lenders who mis-sold policies, and potentially get back £1,000s.
We've fought your corner for such a long time... and the truth is, we're not ready to let go just yet.
Wear the PPI Party Pooper badge of honour
So on the MSE Forum, we've been handing out special badges, as we do to many of our Forumites. We're celebrating PPI winners – big and small! And we still think there are more of you out there…
We think being named a 'PPI Party Pooper' is an honour, and you should wear your badge with pride. It means you've rained on the banks' parades and rightfully won back some money from them, hopefully with our help. It's our way of saying thanks, and a massive well done to you.
The MSE Forum is one of the UK's biggest social networks with more than 1.8 million members. Every single day, thousands of users support and motivate each other with ways to save – and they're no strangers to the world of PPI.
Over the years, we've seen thousands of PPI success stories – some huge reclaims, others more modest. (One MoneySaver, Sarah, told us about her 34p payout. You can read MSE Callum's blog about that in all its glory here: Is this the smallest-ever PPI payout?).
'It took about five minutes... they've just offered me £2,458'
Forumites share their PPI reclaim experiences on the truly epic PPI reclaiming successes and failures forum thread, which now has almost 7.5 million views and more than 37,000 replies.
It dates all the way back to August 2007 – when Gordon Brown had just become Prime Minister, Rihanna's Umbrella was stuck in everyone's head and the MSE weekly email had just hit a million subscribers (13 million now get it every Wednesday).
But while it's a longstanding discussion, the success stories have kept coming in. Here are just a few of the recent posts we've seen as the 2019 deadline came to a close – very typical of the successes we've seen as a whole:
I filled in a simple online form with Lloyds. I gave only the most basic information – they searched all my historic accounts for me, and where they found PPI automatically turned my enquiry into a complaint.
The whole thing took me about five minutes. They have just offered me £2,458.27 for mis-sold PPI on three personal loans. It helps of course that all my loans, bank accounts and credit cards were with one provider, but still. Great result.
I've just had a success from First Direct with two loans I completely forgot about. I had a loan in 1999 for 12 months and another for three years from 2000.
I got £2,145 including a 20% tax deduction... another great step to being debt-free.
piper81 reclaimed with Lloyds TSB and got back £1,245 using an online form:
I only applied for the credit card as I had those statements, but I received a letter back saying I had a loan too. It was a very quick turnaround – I was expecting to wait months.
Thank you so much for making us aware of the PPI claims. I kept putting it off and off as I didn't think I'd get much, I didn't realise interest was added on to the amount. After losing lots of money recently to a bogus gardener and builder, this is much needed! Thanks.
Sazbee1974 noticed a charge on their banking statement for 'overdraft PPI', and shortly after filing an online claim, received a refund for £1,882:
I went back over my statements on the app, which go back 10 years, and it was showing all the way back. I think I didn't notice it cause it's such an insignificant amount and possibly was called something else previously.
I bank with Barclays, so went online and filled out the form to claim it back as I have zero recollection of ever agreeing to this cover or having taken it out, and I never even use my overdraft!
I could not believe it was that much... I'm absolutely made up. The breakdown says I've had a few other PPI products over the years, so I've now complained about these. Fingers crossed. It's so worth the five minutes to fill out the form. I was paid in ten days from start of the application.
Imogen33 received a whopping £14,000 for a PPI claim relating to a credit card in the early 2000s:
[It's] mainly interest, as it is from a very old credit card account, but it shows the scale of what happened. I was encouraged to explore by this forum – so thank you!
And Jassers claimed from Santander. As with many, it was very much on the off-chance:
Today I casually opened a thick envelope from them expecting 'blah blah nothing due or we couldn't find any valid cards', but in the letters was the magic figure of... £5,201.98. I was/am in shock!...
When received I will clear my credit card and overdraft. I can't thank Martin enough – I already feel so much less anxious over finances and this will make life so much easier for me. Thanks Martin and team.
Do you deserve a PPI Party Pooper badge?
Great wins for all, we're sure you'll agree – but they certainly aren't the biggest we've heard of. The largest success we have on record for personal PPI is £175,000, while for commercial PPI it's an astonishing £247,000.
For those of you who submitted a claim at the eleventh hour, we hope to hear your success stories in the coming weeks as lenders reply to your complaints. If you feel you deserve a PPI Party Pooper badge, share your successes on our dedicated board.
And if you didn't make the deadline? Well, for most the door is now firmly shut, but remember a handful of people may still be able to claim due to exceptional circumstances. Check out if you're eligible using our post-PPI deadline kit.