New To This Need Help !! Ppi

Cheaptrick

Please can anyone advise me, I have sent off the relevant letters from the templates and have had the following reply from LLoyds TSB:

You took out a loan on 15th July 2003 for £11,000 and you elected to protect your risk by purchasing an insurance contract for a "oneoff" premium of £2344.59 plus interest.

As you have a number of concerns, I will respond to each one individually as outllined below.

You have made me aware that you were self employed at the time you took out this policy.

My Findings

You have stated that you were a self employed customer at the start date of the policy. A self employed customer is eligible for the Policy and dependant on circumstances at point of claim, would be covered for all the benefits under the Policy. This includes the unemployment benefits, the accident and sickness benefits, the total and permanent disability and life cover together with Positive Job Solutions. The definition of "employed" under the Lloyds TSB policy includes a person who is self employed.

In the circumsances in the absence of any further detail from you of how your status as self-employed might have affected your claim and what you allege should have been discussed with you at point of sale. I am afraid I have no alternative other than to reject your complaint.

You have made med aware that the seller did not advise you that the policy was optional.

My Findings

LLoyds TSB did not lead customers to believe that the insurance was compulsory or that the application for credit would be compromised in the absence of cover. Lloyds TSB took steps to ensure the customer was fully aware of the optional nature of cover.

We attach a copy of the Consumer Credit Agreement which you signed and which set out separately:

(i) the fact that there was a cash loan and the loan for the loan protection insurance together with the respective amounts.

(ii) the monthly repayments for the loan and for the loan protection insurance.

A separate box is completed on the Loan Agreement to confirm that you wished to take the optional loan protection and further box confirmed that the premium had been advanced as part of the loan. You were therefore made fully aware of the optional nature of the policy. (I would like to point out at this stage that the boxes were ticked by a computer, I personally did not tick these as I thought that this was standard)

In the absence of any further information from you, I am afraid that I have no alternative other than to reject your complaint.

You made me aware that the seller did not give you full information of what the policy would or would not cover.

My Findings

lloyds TSB training and staff briefings reminded its advisors of the importance of providing the customer of information concerning the policy including the cover and benefits and any significant and unusual reswtrictions or exclusions to its customers. You would have been sent a policy booklet together with yuor loan agreement. Before signing the loan agreement it advises that you shoulod read all the terms and conditions and where relevant the terms and conditions within the policy booklet. The policy document contained a table setting out the benefits and cover within the policy: and the way in which the cover may change dependent on the circumstances or age of the customer, at point of claim.

In the absence of any further information from you, I am afraid I have no alternative but to reject your claim.

You have made me aware that you are concerned that the seller had no financial background and that the policy was not sold in your best interest.

My Findings

Lloyds TSB provide training to all sellers of PPI. Sellers were issued with the General Insurance Standards Council ( GISC ) code which set out guidelines for sale of general insurance together with a handbook for all sellers of General Insurance and a work book to complete. Ongoing briefing documents and guidance where issued in respect of the product. Sellers were also subject to ongoing monitering and supervision. Lloyds TSB sellers clearly had a financial background and were trained to recommend loan protection insurance in the event that it matched a customers requirements. In the absence of any further information, I must therefore reject your complaint.

I am sorry that my decision was not more favourable to your complaint. Should you wish for the Financial Ombudsman to independently review your complaint, you must refer your matte to them within 6 months of the date of this letter. I enclose a copy of the self explanatary leaflet about this service.

I AM AT A LOSS OF HOW TO PROCEED NEXT. HAS ANYONE RECEIVED A SIMILER TYPE OF LETTER WHO CAN ADVISE AND HELP ME!!

Thank you.

di3004

Cheaptrick wrote: »

Please can anyone advise me, I have sent off the relevant letters from the templates and have had the following reply from LLoyds TSB:

You took out a loan on 15th July 2003 for £11,000 and you elected to protect your risk by purchasing an insurance contract for a "oneoff" premium of £2344.59 plus interest.

As you have a number of concerns, I will respond to each one individually as outllined below.

You have made me aware that you were self employed at the time you took out this policy.

My Findings

You have stated that you were a self employed customer at the start date of the policy. A self employed customer is eligible for the Policy and dependant on circumstances at point of claim, would be covered for all the benefits under the Policy. This includes the unemployment benefits, the accident and sickness benefits, the total and permanent disability and life cover together with Positive Job Solutions. The definition of "employed" under the Lloyds TSB policy includes a person who is self employed.

In the circumsances in the absence of any further detail from you of how your status as self-employed might have affected your claim and what you allege should have been discussed with you at point of sale. I am afraid I have no alternative other than to reject your complaint.

You have made med aware that the seller did not advise you that the policy was optional.

My Findings

LLoyds TSB did not lead customers to believe that the insurance was compulsory or that the application for credit would be compromised in the absence of cover. Lloyds TSB took steps to ensure the customer was fully aware of the optional nature of cover.

We attach a copy of the Consumer Credit Agreement which you signed and which set out separately:

(i) the fact that there was a cash loan and the loan for the loan protection insurance together with the respective amounts.

(ii) the monthly repayments for the loan and for the loan protection insurance.

A separate box is completed on the Loan Agreement to confirm that you wished to take the optional loan protection and further box confirmed that the premium had been advanced as part of the loan. You were therefore made fully aware of the optional nature of the policy. (I would like to point out at this stage that the boxes were ticked by a computer, I personally did not tick these as I thought that this was standard)

In the absence of any further information from you, I am afraid that I have no alternative other than to reject your complaint.

You made me aware that the seller did not give you full information of what the policy would or would not cover.

My Findings

lloyds TSB training and staff briefings reminded its advisors of the importance of providing the customer of information concerning the policy including the cover and benefits and any significant and unusual reswtrictions or exclusions to its customers. You would have been sent a policy booklet together with yuor loan agreement. Before signing the loan agreement it advises that you shoulod read all the terms and conditions and where relevant the terms and conditions within the policy booklet. The policy document contained a table setting out the benefits and cover within the policy: and the way in which the cover may change dependent on the circumstances or age of the customer, at point of claim.

In the absence of any further information from you, I am afraid I have no alternative but to reject your claim.

You have made me aware that you are concerned that the seller had no financial background and that the policy was not sold in your best interest.

My Findings

Lloyds TSB provide training to all sellers of PPI. Sellers were issued with the General Insurance Standards Council ( GISC ) code which set out guidelines for sale of general insurance together with a handbook for all sellers of General Insurance and a work book to complete. Ongoing briefing documents and guidance where issued in respect of the product. Sellers were also subject to ongoing monitering and supervision. Lloyds TSB sellers clearly had a financial background and were trained to recommend loan protection insurance in the event that it matched a customers requirements. In the absence of any further information, I must therefore reject your complaint.

I am sorry that my decision was not more favourable to your complaint. Should you wish for the Financial Ombudsman to independently review your complaint, you must refer your matte to them within 6 months of the date of this letter. I enclose a copy of the self explanatary leaflet about this service.

I AM AT A LOSS OF HOW TO PROCEED NEXT. HAS ANYONE RECEIVED A SIMILER TYPE OF LETTER WHO CAN ADVISE AND HELP ME!!

Thank you.

Hi there
And do not worry at this stage, this is a standard bog off reply, me and others have had exactly the same from these of LLoyds.

Is this your first letter to these ?

Do you think you could post this at the reclaim/discussion forums please hun there you will also receive more guidance, as its the proper forum for this.;)

Click on loans then above you will see PPI reclaim/discussion.;)

You can always send another letter and give an explanation for every reason you have given for being mis sold.

Its okay to use a template from here but you also need to write in your own words and if there is anything that is not on the template letter that occurs to you then add it in.

As said post on the mentioned forum and there you will also come across how others are doing with theirs and also some about LLoyds TSB too.;)

Di.
x;)

Cheaptrick

di3004 wrote: »

Hi there
And do not worry at this stage, this is a standard bog off reply, me and others have had exactly the same from these of LLoyds.

Is this your first letter to these ?

Do you think you could post this at the reclaim/discussion forums please hun there you will also receive more guidance, as its the proper forum for this.;)

Click on loans then above you will see PPI reclaim/discussion.;)

You can always send another letter and give an explanation for every reason you have given for being mis sold.

Its okay to use a template from here but you also need to write in your own words and if there is anything that is not on the template letter that occurs to you then add it in.

As said post on the mentioned forum and there you will also come across how others are doing with theirs and also some about LLoyds TSB too.;)

Di.
x;)

Hi Di, Thank you for your response, this was my second letter to them. I tried to post in the PPI section but couldnt. Can you advise me of how to do this as couldnt get access to this page. Thanks x

di3004

Cheaptrick wrote: »

Hi Di, Thank you for your response, this was my second letter to them. I tried to post in the PPI section but couldnt. Can you advise me of how to do this as couldnt get access to this page. Thanks x

Hi there hun
No problem then, we will now move on to the FOS if they state this was their final decision.

Now to post on the reclaim/discussion thread, click on loans, then you will have an option of where to post from there, more or less at the top of that page you will see both success and another reclaim/discussion, click on last page of that and it should come up.;)

Any further probs just let us know.

Now here is the link to the FOS/complaints form:
http://www.financial-ombudsman.org.uk/consumer/complaints.htm

There are complaint forms, and when you send this off, enclose copies of your letters and any correspondence from the company in order to back your complaint.

Catch you later then hun, we are here to help and will get you through this.

Good luck!
Di.
x