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Lloyds TSB - PPI Claim?

Good evening guys,

First of all, I am completely new to MSE and have spent the last couple of days reading through all the guides and forums - I'm already indebted to those kind souls who spend an awful lot of time on these boards offering their help and advice to complete strangers. I can certainly say that it's restored my faith in humanity somewhat!

I'm interested in pursuing a PPI refund claim with Lloyds TSB for PPI paid on my credit card. Unfortunately, I'm completely overwhelmed with the information available on this site (trying to stuff too much in at once I reckon) and could with a little clarity.

The long story short is that I've been foolish with my credit card spending and currently have a balance of £10k. Obviously I'm wanting to rectify this and get this debt cleared with a view to eventually closing the account and reigning in my spending. I've banked with Lloyds TSB since I was 17 (roughly 11 years) and I opened a current account for my first job. I was offered a credit card with them when I was 19 and as far as I know, have always had PPI. However, I don't ever recall being sold this and I believe the original application happened in branch. There have been various card upgrades over the years but the account remained constant until June 2007, when Lloyds decided that they were going to switch from Visa to Mastercard. In retrospect, I believe this was a ploy by them to try and stop any "unenforceable agreement" claims following the changes in law. Again, I don't recall signing any agreement but Checkmyfile.com shows the account dating back to 2001 being closed and a new one opened with exactly the same opening balance as the closing one on the other card!

I believe the PPI was mis-sold as I would've been a mere 19 years old when I took it out and definitely wet behind the ears but having been ignorant to the pitfalls of PPI, I've only recently realised that I would be pretty much ineligible for any sickness-related claim due to my pre-existing medical conditions. So here are the bits I could do with some advice on:

- I don't have the original paperwork. Considering that there's a possibility of being two credit card accounts here, should I go straight to sending a SAR instead of messing around trying to get paperwork for an old account I don't have any details for?

- If there are indeed two separate accounts, can I pursue claims for both on the mis-selling basis? The first account ran 2001 - 2007 and the second 2007 to present.

- All my banking is with Lloyds TSB. If I pursue them for this, am I blotting my copybook? I ask this as I can't afford to pay off my overdraft (£1000) and my card balance should my accounts end up being closed/blacklisted. On a similar note, would such a claim have any adverse effect on my credit rating?

I'm sorry if these points have been covered elsewhere on the site but it seems the more I read (and there's such a vast amount to work through!) the more I confuse myself!

Regards,

Jayne
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Comments

  • di3004
    di3004 Posts: 42,579 Forumite
    jaynemax wrote: »
    Good evening guys,
    Hello and welcome Jayne.;)

    First of all, I am completely new to MSE and have spent the last couple of days reading through all the guides and forums - I'm already indebted to those kind souls who spend an awful lot of time on these boards offering their help and advice to complete strangers. I can certainly say that it's restored my faith in humanity somewhat!
    lol, well we try :D

    I'm interested in pursuing a PPI refund claim with Lloyds TSB for PPI paid on my credit card. Unfortunately, I'm completely overwhelmed with the information available on this site (trying to stuff too much in at once I reckon) and could with a little clarity.
    Don't worry, you will soon get the hang of it.

    The long story short is that I've been foolish with my credit card spending and currently have a balance of £10k. Obviously I'm wanting to rectify this and get this debt cleared with a view to eventually closing the account and reigning in my spending. I've banked with Lloyds TSB since I was 17 (roughly 11 years) and I opened a current account for my first job. I was offered a credit card with them when I was 19 and as far as I know, have always had PPI. However, I don't ever recall being sold this and I believe the original application happened in branch. There have been various card upgrades over the years but the account remained constant until June 2007, when Lloyds decided that they were going to switch from Visa to Mastercard. In retrospect, I believe this was a ploy by them to try and stop any "unenforceable agreement" claims following the changes in law. Again, I don't recall signing any agreement but Checkmyfile.com shows the account dating back to 2001 being closed and a new one opened with exactly the same opening balance as the closing one on the other card!
    With you being so young and vulnerable, it would not surprise me if they automatically added this.

    I believe the PPI was mis-sold as I would've been a mere 19 years old when I took it out and definitely wet behind the ears but having been ignorant to the pitfalls of PPI, I've only recently realised that I would be pretty much ineligible for any sickness-related claim due to my pre-existing medical conditions. So here are the bits I could do with some advice on:

    - I don't have the original paperwork. Considering that there's a possibility of being two credit card accounts here, should I go straight to sending a SAR instead of messing around trying to get paperwork for an old account I don't have any details for?
    Yes a SAR is a good start, however, they you should receive everything they have on you going back as far as 6 years, saying that Lloyds TSB did also enclose details with mine going back to the late 90's, so hopefully it will be the same for you also.

    - If there are indeed two separate accounts, can I pursue claims for both on the mis-selling basis? The first account ran 2001 - 2007 and the second 2007 to present.
    If you were mis sold for the same reasons, and taken out say more than one credit card ppi, then yes you can write on the same letter, just remember to write the account numbers for each one.
    And in regards of loan ppi, keep these separate from the credit card ppi complaint, but if you had a few loans you can complain on the same letter, as like above.

    - All my banking is with Lloyds TSB. If I pursue them for this, am I blotting my copybook? I ask this as I can't afford to pay off my overdraft (£1000) and my card balance should my accounts end up being closed/blacklisted. On a similar note, would such a claim have any adverse effect on my credit rating?
    In regards of this issue with the overdraft, I would post on the above thread, called debtfreewannabe, here
    http://forums.moneysavingexpert.com/forumdisplay.html?f=76
    They will help with letters to send to the bank as well.

    I'm sorry if these points have been covered elsewhere on the site but it seems the more I read (and there's such a vast amount to work through!) the more I confuse myself!

    Regards,

    Jayne
    You are doing good Jayne and glad your going to have a go with this, being young, they did possibly just add this ppi, so go for it.

    The sar template letter with details here:
    http://forums.moneysavingexpert.com/showthread.html?t=1475553

    Then when your ready, reclaim, will post up the link ready for you to have a browse.
    http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

    Then post up when your ready, and we will help all we can.;)
    The one and only "Dizzy Di" :D
  • jaynemax
    jaynemax Posts: 17 Forumite
    Di, you're a star! I can't tell you how reassuring it is to have someone confirm that you're on the right track.

    It is just the credit card PPI I'm concerned with although it would be handy to have a complete banking record so I'll start by sending the SAR off tomorrow. I'll also think before shredding stuff in the future.. you never know when you might need it.

    The overdraft issue isn't a massive concern to me but I'm just worried that Lloyds might see me as a difficult customer and pull the plug on it if I pursue this claim which for day to day banking, would leave me without a paddle. Am I right in thinking that this would frowned upon by the FSA though, and possibly get them in to more trouble?

    Again, many thanks for your help. I'll carry on reading and keep you updated once I get the SAR info back.

    Jayne
  • di3004
    di3004 Posts: 42,579 Forumite
    jaynemax wrote: »
    Di, you're a star! I can't tell you how reassuring it is to have someone confirm that you're on the right track.
    Your welcome Jayne, I have been with Lloyds for many years and they added PPI to everything, I have been successful with reclaiming my PPI back from them, although it was the FOS that sorted this out, and I'm sure you will do okay.

    It is just the credit card PPI I'm concerned with although it would be handy to have a complete banking record so I'll start by sending the SAR off tomorrow. I'll also think before shredding stuff in the future.. you never know when you might need it.
    lol, not to worry hun, we have all been there.:D

    The overdraft issue isn't a massive concern to me but I'm just worried that Lloyds might see me as a difficult customer and pull the plug on it if I pursue this claim which for day to day banking, would leave me without a paddle. Am I right in thinking that this would frowned upon by the FSA though, and possibly get them in to more trouble?
    I would not worry, they have to treat your fairly, so please do not worry about this, and yes these are frowned upon, your right there. The FSA are coming down on these finance companies like a ton of bricks, even complaints that have been rejected, the FSA are actually re-opening them, so there is hope yet.;)

    Again, many thanks for your help. I'll carry on reading and keep you updated once I get the SAR info back.

    Jayne
    With pleasure Jayne, just post up when your ready for help, we will get there, have a good night.

    Di
    Xx
    The one and only "Dizzy Di" :D
  • kpwll
    kpwll Posts: 4,273
    First Anniversary First Post
    Forumite
    My LTSB cc was changed (with my consent) to a gold card in '01. As I already (stupidly) been sold PPI in '99, when the form came for me to fill in I ticked the PPI box as it was basically the same account.

    The FOS adjudicator asked me about ticking the box and I told him that it was the same account, just 'enhanced' and that as I already had PPI on the account I thought that I had to tick it.

    So if it is basically the same account but under a different guise, I would think that you would be in the same boat I was.

    Karen
  • jaynemax
    jaynemax Posts: 17 Forumite
    Thanks Karen... were you successful in your claim?

    I've sent the SAR off today recorded delivery so hopefully I'll get the paperwork back soon for me to try and find out how exactly I ended up paying for this! I have a feeling that with the Visa to Mastercard change it was a pre-ticked box, if the option was there at all.

    Anyway, now to try and forget about it all for the next 40 days ;-)
  • finatra26
    finatra26 Posts: 4,106
    First Anniversary Combo Breaker First Post
    Forumite
    Hi Jaynemax - Any decent bank will take into account that you are a valued customer already & endevour to sort this out for you. I know mine did.
  • kpwll
    kpwll Posts: 4,273
    First Anniversary First Post
    Forumite
    jaynemax wrote: »
    Thanks Karen... were you successful in your claim?

    I've sent the SAR off today recorded delivery so hopefully I'll get the paperwork back soon for me to try and find out how exactly I ended up paying for this! I have a feeling that with the Visa to Mastercard change it was a pre-ticked box, if the option was there at all.

    Anyway, now to try and forget about it all for the next 40 days ;-)

    The adjudicator upheld my claim, but Lloyds (being Lloyds) didn't respond so it is waiting to go to an ombudsman. Good luck.
    Karen
  • di3004
    di3004 Posts: 42,579 Forumite
    kpwll wrote: »
    The adjudicator upheld my claim, but Lloyds (being Lloyds) didn't respond so it is waiting to go to an ombudsman. Good luck.
    Karen

    Karen

    This is what happened to hubby's as well....
    Its with the ombudsman now, been with the FOS though since about August 2008.:o
    The one and only "Dizzy Di" :D
  • kindofagilr
    kindofagilr Posts: 6,825
    First Anniversary First Post
    Forumite
    Sorry to hi jack your thread

    I have a thread here and I was just wondering which lloyds address you wrote to? there are a few in the A-Z on here and I am confused and I want it to go to the right place lol
    Debt £30,823.48/£44,856.56 ~ 06/02/21 - 31.28% Paid Off
    Mortgage (01/04/09 - 01/07/39)
    £79,515.99/£104,409.00 (as of 05/02/21) ~ 23.84% Paid Off

    Lloyds (M) - £1196.93/£1296.93 ~ Next - £2653.79/£2700.46 ~ Mobile - £296.70/£323.78
    HSBC (H) -£5079.08/£5281.12 ~ HSBC (M) - £4512.19/£4714.23
    Barclays (H) - £4427.32/£4629.36 ~ Barclays (M) - £4013.78/£4215.82
    Halifax (H) - £4930.04/£5132.12 ~ Halifax (M) - £3708.65/£3911.20

    Asda Savings - £0

    POAMAYC 2021 #87 £1290.07 ~ 2020/£3669.48 ~ 2019/£10,615.18 ~ 2018/£13,912.57 ~ 2017/£10,380.18 ~ 2016/£7454.80

    ~ Emergency Savings: £0

    My Debt Free Diary (Link)
  • di3004
    di3004 Posts: 42,579 Forumite
    Sorry to hi jack your thread

    I have a thread here and I was just wondering which lloyds address you wrote to? there are a few in the A-Z on here and I am confused and I want it to go to the right place lol

    Hiya hun
    Just left a post for you on your thread lol :D;).X
    The one and only "Dizzy Di" :D
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