PPI Reclaiming discussion Part III

clanger69

leanne-74 wrote: »

HI, looking for some help as new to this

Trying to reclaim back my PPI on a loan i took out 4 yrs ago for £4k with LLOYDS TSB. was pretty much forced into the PPI as my partner was out of work at the time - but i dont see any problem in that as i was in a secure job and the loan was soley going to be in my name.

Anyway after reading about this i sent the first template letter for reclaim. Recd a letter yesterday stating that i wasnt mis sold the product and LLOYDS do not lead customer to believe that the unsurance is compulsory. They also state they have a recording of my phone call which confirms the insurance was "optional". Do i fight this and send 2nd letter? ask for copy of recording???? im sure i saw a post on this before with someone being in the same situation but cant find the post! sorry


thansk for any help!

Hi

Do you have the address of who you contacted at Lloydstsb as i'm about to contact them with regards to PPI i had on a loan 5 years ago. The problem is i don't have the account number. Did you have your account details or did you just write to them anyway?

Thanks

Alby

Hi, i hope somebody can help!!
My girlfriend has a loan with welcome finance, i looked over the details at the weekend and found that the ppi had been charged twice....
Basically she had an original 10k loan, was told she needed ppi so agreed to it...the statement shown it added £2558 to the loan... she then recieved a call a few months later saying she could have an extra 5k if she wanted it... she declined but called back a week later having changed her mind... it seems though instead of adding the 5k to the loan, they paid off the old loan (only a few months old) including the £2558 for the ppi, and gave her a new loan including a new ppi fee of £2980... so her statement now shows she owes slightly over 20k....(obviously not including the huge interest rate).
we put a call in and the guy at welcome agreed to cancel the latest ppi (well, £2,300 of it) but the original and now void ppi had to stay..... surely this cant be the case....?!
all in all the full term of the loan would have her paying back over 50k.....
until i looked through the statement...she had no idea it was anywhere near this much... should this not be properly explained when they sell the loan??

hope somebody can help with this!!!

dave73

hi is this ok as first letter dear sir/madam i purchased the above loan insurance from you but now beleive that i was mis-sold this policies for the following reason:this is due to the fact i had informed your member of staff that i had previous medical conditions but they did not inform me of the affect this could have on any insurance claim when the policy was sold unless you can satisfactory justify to me that the policies was fair and reasonable i am requesting a full refund of all preniums subsequent interest on these payments that i have paid to date as i beleive i have been deprived of this money i also expect 8% satutory interest the amount a court would award be added to each payment made i look forward to a full and prompt response to this letter and this matter to be concluded within 8 weeks or i shall be contacting the financial ombudsman to investigate my complaint

leanne-74

hi clanger69 - i just sent the letter to my main branch..it was actually the branch where my account was opened up years ago. but i think your main branch will do. i had my account number handy though

greencode

On the first template letter that I send to my Loan Company there's no mention of PPI - it only mentions "Policy". Will they not think I'm simply referring to my entire Loan or will they know that the letter refers to PPI?

di3004

dreamer33 wrote: »

Hi Di

How are you today, say happy birthday to jamie for me when you see him lol just been catching up on the posts.

My first real chance to get on here my daughter had a friend stay and they both stole the lappy:eek: have to say though caught up on my housework:rotfl:

Hi Dreamer
Thank you.

Hope everyone are okay on here.
Having drastic prbs with puter and will post when I can folks.;)

di3004

For the ones who posted requiring some help and info, I am having some pc problems and will try to post up as soon as I can and I'm sure they will get replied to by one of us at some point today.;)

di3004

Froggy08 wrote: »

Hi all,

I've received a response to my initial letter sent to Barclays for mis-sold PPI (as per template).

Basically, I took out the loan in June 1998, over 5 years. The PPI was added as a single premium plus interest which totaled £2,884.80 on top of the loan value.

Barclays have responded by stating that

"...as your complaint relates to an issue that dates back more than six years I would consider it to be time barred. it is not unrealistic to expect customers to raise an issue within a reasonable time, after the event has taken place. As your complaint is time barred I have not addressed any of the issues you have raised.

I have checked our records and we do not appear to have an up to date signature or address for you> I would recommend that you call into your local branch and update your details at the earliest convenience." I have no active account with them!

From reading other posts on here I did not think a claim could be time barred especially given that the loan account was still active within the last six years. I also have a copy of the agreement which I enclosed with my initial letter.

Any advice / comments would be appreciated.

Thanks

Hi there

I am sure someone will be able to confirm this to you, when it comes to a bank I assumed there was no time barring - yet I could be wrong.

Hope this resolves hun, good luck and if you need further info just give us a yell.;)

Good luck

"oops - sorry I missed what Dreamer posted" lol.

Di

di3004

clanger69 wrote: »

Hi

Can anyone help me with this query?

My partner was declared bankrupt last year and has since been discharged.

She claimed mis-selling of PPI on a loan she had with Egg. They replied back saying that as a gesture of goodwill they would be refunding the PPI costs( about £330) but would be crediting this to the current debt that she has with them. When she contacted them and said that she had been declared bankrupt and therefore the debt technically had been wrote off they said no it hadn't, and refused to discuss the matter anymore!

Surely this is money that she should have got back whatever debt she had with them,as it wasn't charges that they were refunding but money that she should never have paid?

Has anyone else had this done to them, or are we right in thinking that Egg are just trying it on?

Thanks for any advice given

Hi

I would contact them by ringing or better still in writing and post by recorded delivery to ask them for a written breakdown of calculations.
Your partner is entitled to have this.

This way your partner and yourself can check where went where, then take it from there.

Post up if you need further help here and the best of luck.;)

di3004

leanne-74 wrote: »

HI, looking for some help as new to this

Trying to reclaim back my PPI on a loan i took out 4 yrs ago for £4k with LLOYDS TSB. was pretty much forced into the PPI as my partner was out of work at the time - but i dont see any problem in that as i was in a secure job and the loan was soley going to be in my name.

Anyway after reading about this i sent the first template letter for reclaim. Recd a letter yesterday stating that i wasnt mis sold the product and LLOYDS do not lead customer to believe that the unsurance is compulsory. They also state they have a recording of my phone call which confirms the insurance was "optional". Do i fight this and send 2nd letter? ask for copy of recording???? im sure i saw a post on this before with someone being in the same situation but cant find the post! sorry


thansk for any help!

Hi and welcome.

I would write back and request for a copy of the recordings, or even ring them, yet if you write you can post by recorded delivery and check on the track and trace section of the royal mail website to know your letter reached the department.

The recordings may help, although they may suggest you send them a SAR which is a Subject Access Request, you pay £10 cheque or postal order payment, they have 40 days to comply and send you everything they have on you, this actually maybe worth your while.

If you require a template letter for the SAR let us know and one of us will post up for you.

Lloyds are not the easiest to deal with - I know down to my experience, but hang in there for now and let us know how you get on.

You can send another letter if you want, and as soon as you receive the final letter and if still not successful, they should mention the financial ombudsman service is the next step if you want to take it to them to investigate.

Good luck.