PPI Reclaiming Discussion part 4

bugsy161 wrote: »

I firmly believe that Lloyds have something to hide but most people just walkaway with what they get, happy that they have won, and happy to have money back in the bank.

Take my situation.

I have requested an SAR from Lloyds last week but the 6 statements I have to hand are from 2003, 2004 and 2007, with a balance of £12,200, £11,400 and £14,400 respectively, and PPI of £77.00 per month on average. Over the 4 years the balance hovered around the same sort of level.
I took out loans with Lloyds in 2002 (5 year) and 2004 (7 year) to consolidate debt, including the Lloyds cc, so it seems strange that Lloyds are telling me that the balance for my cc in Jan 2000 was £1,222 with PPI premium of £12.00! The FOS guideline is an average PPI payment over the last 12 months on record, not one month.
The difference between £12.00 per month PPI used as a figure from 2000 back to 1987, and £77.00 per month is over £40,000 more in redress, so no wonder Lloyds are not keen to provide the figures!!

That's right Bugsy, there is a lot of money there.
It just does not add up, and it makes you think, and good point bugsy no wonder lloyds are being hesitant!

When my hubby tried making a claim a few years ago, as this was taken out in 2001 they would not pay out, this was because of a pre med condition, we fell into hardship when where hubby used to work closed down and went into liquidation, when we found these details of this account it was then he said to make a reclaim on the ppi, then it went on to then making reclaim on all the loan ppi's, these were resolved directly with the bank but not the CC's.

They do what they want don't they?

bugsy161 wrote: »

They certainly do believe they are a law unto themselves.

I am prepared to wait to see what the FOS receive from Lloyds and what the FOS determine as the correct figure. Cyrus, the chap from the FOS who phoned me after I emailed Ms Ceeney, is the chap who actually does the calculation checks. He has said it may take a bit longer to check as it spreads over 23 years but I dont mind as long as he finds out if Lloyds have tried to short change me.

I am quite prepared to take Lloyds to court if I have to but only ater I have pursued all the correct channels first, and given Lloyds the chance to show their hand.

With a lot of money like that Bugsy, I think its essential they get to deal with this for as soon as possible, but like you said its 23 years of it so it may take a little while, and I assume you should receive more interest added to that as well Bugsy.;)

bugsy161 wrote: »

I hope it doesnt take too long but the main thing is that it is done correctly.
I also raised the question as to what the PPI would have been in 1997 which was 10 years prior to when I first complained to Lloyds in 2007.
I will keep you fully updated as to how things go and keep me updated with yours too. xx

You've been waiting long enough already bugsy, with a bit of luck you won't be waiting much longer, with it being a large amount of money though your right, its best to make sure they get it all right.;)
Fingers crossed hon and I will let you know when we hear something too, thank you XXX

Dave_6 wrote: »

Hi, are you sure on this one?

The letter he received said that the new restructured loan will be on the same basis/interest rates/time frame honoured.

We were planning on going in on Saturday to discuss things and to see how a new loan might look... walking away there and then if it didn't look any good.


In addition to this his claims have been with HSBC for 4 weeks now, he's received a 2nd letter saying the same as the one received last week.. just that they are investigating and will get back to him in the next 28 days

thanks
Dave

If that is what the bank is doing, then that is fine,to be honest i wouldnt trust them on this untill you see it in black and white.give them the time they have asked for on the claim and hope it is good news. Good luck xx

eddieps wrote: »

Hello

Currently clainming against two credit card PPI which in all honesty I took out by just being an idiot and assuming I needed to as part of getting the cards.
The first one was with Mint, I have sent letter asking for amounts and have got back a photocopied piece of paper with no acknowledgement or any clue as to who it was from, the only I know it is from them is because the payments shown on match the last statements I have, so in this case do I just reequest the PPI's back?
The second one was Virgin (aka MBNA) I asked for the info almost 2 years ago and also sent a letter asking them to cancel the PPI, but through my wife going into hospital, then moving and changing PC's it all got held up till recently. I have had letter back giving costs but also saying that according to their records I requested PPC be added to my account? (would certainly have not) and that I was sent a booklet giving me 30 days to cancel. They also say I never requested this info before, although I dont have copy of letter I sent for the info I do have one I sent to cancel the PPI.
They have given phone number to discuss any further queries, do I ignore and just say I dont agree?
Any advice appreciated

Hi there

It may be a good idea to request for Subject Access Requests (SAR) in order to get more information on your accounts, they have 40 calendar days to comply and send all the details they hold.
You have to enclose a payment of £10 cheque or postal order for this request and I suggest its also best to post by recorded delivery, for your proof of posting.

There is a SAR template on this site as below if you want to request for your details here;
http://forums.moneysavingexpert.com/showthread.php?t=1475553

I would not agree to anything on the telephone and only deal with these matters by written correspondence.

If you have the account number of these accounts though there is no harm in giving it a go on the reclaiming anyway.

You pursue the ones who set up and sold you the policies and they have 8 weeks to give a decision.

You can do this by either writing a letter in your own words, by doing the below:

Request for a refund paid to date with the interest on the account.
Give the reasons of why your reclaiming.
And request they get back by 8 weeks.
Then confirm if you do not receive a response in your favour, you will consider making a complaint to the financial ombudsman service (FOS).
Try to give them as much info as possible.

Or you can complete the FOS questionnaire, this is in replacement of the first reclaiming letter on this site (and nothing to do with a FOS complaints form, as some get confused on this), complete and send to whom responsible, and keep a copy for yourself in case you need to refer to it at some point later on.
You will find the FOS questionnaire on link added below, further down the page as stage one.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Or do both, its up to you.

Good luck.;)