PPI Reclaiming discussion Part III

Faldinio

Hi everyone, I need some advice please!

I wrote to Lloyds TSB to attempt to reclaim LPI as I remember being told over the phone that I had to take the LPI otherwise they couldnt organise the loan. This was the basis of my argument in my letter (using the templates).

Lloyds TSB wrote back saying that they cannot uphold my claim because it clearly states in the terms of the LPI that it is optional and they also sent a copy of the agreement which I had signed and ticked to confirm I wanted to take out LPI... fair enough I had signed for it but only because I was told I needed to!

They have said that they consider the matter closed but I can complain to the Ombudsman if I wish. Is it worth it - is my case so weak because I have signed for the LPI or should I request they listen to the call?

Any help would be appreciated.

Mark

dreamer33

di3004 wrote: »

Good morning dreamer, marshallka and everyone else.:D

Hope you all receive some good news today.;)

Waiting to see what the postie will bring - but I know it will be just bills....:rolleyes:

Morning Di

Postie comes late here, same here either junk mail or bills lol

davektt

Hi all, nice to see so many wanting to get something back instead of just putting up with it all... have a little problem I've run in to while trying to reclaim the PPI off of Lloyds TSB. I've already sent them letter 1, and they replied by post that if I wanted the PPI stopped, to phone or pop into the bank.

So I phoned them up this AM.

Oh, they'll stop the PPI alright...by refinancing the remaining amount of the loan- without the PPI, and using a "rebate" against the remaining amount.

Fine, I said.

That'll now cost you £194.36 per month, she says.

Oh, I says, that's a massive saving.........of £4.89 a month. http://images.moneysavingexpert.com/images/forum_images/smilies/angry-smiley-030.gif How come the original payment was £199.25 (worked out at £164.39 per month for the loan [£8000 over 5 yrs] and £34.86 p/m for the PPI). How come I now pay that amount (194.36) instead of just £164.39 per month I ask.

It's all to do with the refinancing term (or words to that effect) she sez.

Ah, ok, send me the documents please before anything gets processed I sez,
and, finally after going through the credit check rigmarole, she agrees to send me the forms. http://images.moneysavingexpert.com/images/forum_images/smilies/angry-smiley-030.gifhttp://images.moneysavingexpert.com/images/forum_images/smilies/angry-smiley-030.gif

OK, that over...has anyone else has this problem, and did anything good come of it?

Many thanks

Dave

di3004

Faldinio wrote: »

Hi everyone, I need some advice please!

I wrote to Lloyds TSB to attempt to reclaim LPI as I remember being told over the phone that I had to take the LPI otherwise they couldnt organise the loan. This was the basis of my argument in my letter (using the templates).

Lloyds TSB wrote back saying that they cannot uphold my claim because it clearly states in the terms of the LPI that it is optional and they also sent a copy of the agreement which I had signed and ticked to confirm I wanted to take out LPI... fair enough I had signed for it but only because I was told I needed to!

They have said that they consider the matter closed but I can complain to the Ombudsman if I wish. Is it worth it - is my case so weak because I have signed for the LPI or should I request they listen to the call?

Any help would be appreciated.

Mark

Hi Mark

Please do not worry or let their response put you off - this is just standard, I know as I have some cases against these too.

If they are giving you the opportunity to write back in order for them to reconsider, then write back and tell them, "you are not happy with their response on this complaint and if they do not uphold this, you will have no option but to take to the financial ombudsman to investigate".

Also tell them, you had signed it because "you were told to".

Have they mentioned the FOS on your letter and have they given you the opportunity to write to them again ?
Yes request for a copy of the telephone recordings.;)

Give us a shout Mark if you need more help here, with pleasure we would love to help.

Di

dreamer33

Faldinio wrote: »

Hi everyone, I need some advice please!

I wrote to Lloyds TSB to attempt to reclaim LPI as I remember being told over the phone that I had to take the LPI otherwise they couldnt organise the loan. This was the basis of my argument in my letter (using the templates).

Lloyds TSB wrote back saying that they cannot uphold my claim because it clearly states in the terms of the LPI that it is optional and they also sent a copy of the agreement which I had signed and ticked to confirm I wanted to take out LPI... fair enough I had signed for it but only because I was told I needed to!

They have said that they consider the matter closed but I can complain to the Ombudsman if I wish. Is it worth it - is my case so weak because I have signed for the LPI or should I request they listen to the call?

Any help would be appreciated.

Mark

Don't listen to their rubbish about you signed you agreed :mad: , clearly what has happened is they took away your options when they said you had to have the ppi or no loan.

Was the ppi box pre-ticked?
Have you requested a SAR from them this will give you all info held about you including telephone calls?

If you have not requested a SAR send it recorded delivery also there could be strong evidence within it, don't give up, it appears to be a standard letter sent in the hope you will go away but dont fight for whats yours.

di3004

dreamer33 wrote: »

Morning Di

Postie comes late here, same here either junk mail or bills lol

Hi hunni
Post can be quite bad here at times too, sometimes as late as 5pm.....:eek: , the metre reading guy been, so there's more bills to come, always before Xmas......

di3004

davektt wrote: »

Hi all, nice to see so many wanting to get something back instead of just putting up with it all... have a little problem I've run in to while trying to reclaim the PPI off of Lloyds TSB. I've already sent them letter 1, and they replied by post that if I wanted the PPI stopped, to phone or pop into the bank.

So I phoned them up this AM.

Oh, they'll stop the PPI alright...by refinancing the remaining amount of the loan- without the PPI, and using a "rebate" against the remaining amount.

Fine, I said.

That'll now cost you £194.36 per month, she says.

Oh, I says, that's a massive saving.........of £4.89 a month. http://images.moneysavingexpert.com/images/forum_images/smilies/angry-smiley-030.gif How come the original payment was £199.25 (worked out at £164.39 per month for the loan [£8000 over 5 yrs] and £34.86 p/m for the PPI). How come I now pay that amount (194.36) instead of just £164.39 per month I ask.

It's all to do with the refinancing term (or words to that effect) she sez.

Ah, ok, send me the documents please before anything gets processed I sez,
and, finally after going through the credit check rigmarole, she agrees to send me the forms. http://images.moneysavingexpert.com/images/forum_images/smilies/angry-smiley-030.gifhttp://images.moneysavingexpert.com/images/forum_images/smilies/angry-smiley-030.gif

OK, that over...has anyone else has this problem, and did anything good come of it?

Many thanks

Dave

Hi Dave.

I have been with Lloyds for approx 17 years, had loans etc and now battling some complaints with them.

Although I have never had your problem here but sure there are some that have and will post up if they have.;)

Are you also putting in a letter to complain and reclaim the PPI Dave?
Or have you already done this?

dreamer33

davektt wrote: »

Hi all, nice to see so many wanting to get something back instead of just putting up with it all... have a little problem I've run in to while trying to reclaim the PPI off of Lloyds TSB. I've already sent them letter 1, and they replied by post that if I wanted the PPI stopped, to phone or pop into the bank.

So I phoned them up this AM.

Oh, they'll stop the PPI alright...by refinancing the remaining amount of the loan- without the PPI, and using a "rebate" against the remaining amount.

Fine, I said.

That'll now cost you £194.36 per month, she says.

Oh, I says, that's a massive saving.........of £4.89 a month. http://images.moneysavingexpert.com/images/forum_images/smilies/angry-smiley-030.gif How come the original payment was £199.25 (worked out at £164.39 per month for the loan [£8000 over 5 yrs] and £34.86 p/m for the PPI). How come I now pay that amount (194.36) instead of just £164.39 per month I ask.

It's all to do with the refinancing term (or words to that effect) she sez.

Ah, ok, send me the documents please before anything gets processed I sez,
and, finally after going through the credit check rigmarole, she agrees to send me the forms. http://images.moneysavingexpert.com/images/forum_images/smilies/angry-smiley-030.gifhttp://images.moneysavingexpert.com/images/forum_images/smilies/angry-smiley-030.gif

OK, that over...has anyone else has this problem, and did anything good come of it?

Many thanks

Dave

Hi

This seems to be the norm for the banks to do this, however but not sure don't think they can give you a higher interest rate.

It also sounds like you have had a single premium ppi, this is when the whole amount is added to the loan from the start, its daylight robbery

di3004

dreamer33 wrote: »

Hi

This seems to be the norm for the banks to do this, however but not sure don't think they can give you a higher interest rate.

Cheers for adding this dreamer, the interest rate varies from one loan to another, so this is highly possible.
Maybe worth Dave asking Lloyds - just to be sure.;)

dreamer33

di3004 wrote: »

Cheers for adding this dreamer, the interest rate varies from one loan to another, so this is highly possible.
Maybe worth Dave asking Lloyds - just to be sure.;)

I see I have a lickle friend in my fight against ff