PPI Reclaiming discussion Part III

martypants

Hi Everyone,
I'm in need of some advice on my ppi - The issue I have is with an exisiting loan that the banked topped up to £5000.00 with an APR 18.3% for 36 moths at £213.13 but during our converstion the payment protection was not fully discussed. So I felt as if I have been misold to me but stupidly, I have done nohting about until now.
It's 8 months on since taking the original loan and a few months ago I sent a letter to my Lloyds TSB bank regarding this matter that i retrieved from one of the templates offered by this site. A month or two past which brings me to present were I called the bank in regards to this becuase I had not received any response. We arranged a time and a date to meet up (yesterday) were we could discuss the situation. During our conversation, everything started to get very confusing. When I left the branch and logged on to my internet banking facility, I understood only then that what my bank had done was sold me a completetly new loan for the orginal amount I ASKED FOR?!? I have been back in to the bank today with my parents to witness everything they have had to say. The outcome of this situation is that I am on a new loan for £50000.00 (again!!) but paying across 24 months with no PPI at 19.3%APR of £249.13. I have had a rebate of only £545 paid back to my account but was also charged £140.00 for paying this loan off before conract ends. So in fact I only received £390.00 roughly from all this but I have an increase of 1% APR and becuase I have had the PPI for 8 months they are not willing to give me this money back becuase they say I have used it for this time. Although I stated at the very beginning this policy was misold to me nothing seems to have come of this.

Please! Please! Please can someone help me with what action I should take or have they made a valid point?

Thanks

Marty

martiUK

has anyone had this before ,have a case against household/benfinacal bank know enter its 12 month suddenly in last few weeks have recieved a letter from them saying that due to changing direct debit date out by 8 days that i have incuurered interst charges totaling £85.00,but this date was changed 2years ago so why have they know told me or are they just being nasty as they know about the case i have against them

martypants

Hi Everyone,
I'm in need of some advice on my ppi - The issue I have is with an exisiting loan that the banked topped up to £5000.00 with an APR 18.3% for 36 moths at £213.13 but during our converstion the payment protection was not fully discussed. So I felt as if I have been misold to me but stupidly, I have done nohting about until now.
It's 8 months on since taking the original loan and a few months ago I sent a letter to my Lloyds TSB bank regarding this matter that i retrieved from one of the templates offered by this site. A month or two past which brings me to present were I called the bank in regards to this becuase I had not received any response. We arranged a time and a date to meet up (yesterday) were we could discuss the situation. During our conversation, everything started to get very confusing. When I left the branch and logged on to my internet banking facility, I understood only then that what my bank had done was sold me a completetly new loan for the orginal amount I ASKED FOR?!? I have been back in to the bank today with my parents to witness everything they have had to say. The outcome of this situation is that I am on a new loan for £50000.00 (again!!) but paying across 24 months with no PPI at 19.3%APR of £249.13. I have had a rebate of only £545 paid back to my account but was also charged £140.00 for paying this loan off before conract ends. So in fact I only received £390.00 roughly from all this but I have an increase of 1% APR and becuase I have had the PPI for 8 months they are not willing to give me this money back becuase they say I have used it for this time. Although I stated at the very beginning this policy was misold to me nothing seems to have come of this.

Please! Please! Please can someone help me with what action I should take or have they made a valid point that can't be won?

Thanks

Marty

digitalphase

Do I still have to give them 8 weeks or can I give them 14 days to respond?

di3004

martypants wrote: »

Hi Everyone,
I'm in need of some advice on my ppi - The issue I have is with an exisiting loan that the banked topped up to £5000.00 with an APR 18.3% for 36 moths at £213.13 but during our converstion the payment protection was not fully discussed. So I felt as if I have been misold to me but stupidly, I have done nohting about until now.
It's 8 months on since taking the original loan and a few months ago I sent a letter to my Lloyds TSB bank regarding this matter that i retrieved from one of the templates offered by this site. A month or two past which brings me to present were I called the bank in regards to this becuase I had not received any response. We arranged a time and a date to meet up (yesterday) were we could discuss the situation. During our conversation, everything started to get very confusing. When I left the branch and logged on to my internet banking facility, I understood only then that what my bank had done was sold me a completetly new loan for the orginal amount I ASKED FOR?!? I have been back in to the bank today with my parents to witness everything they have had to say. The outcome of this situation is that I am on a new loan for £50000.00 (again!!) but paying across 24 months with no PPI at 19.3%APR of £249.13. I have had a rebate of only £545 paid back to my account but was also charged £140.00 for paying this loan off before conract ends. So in fact I only received £390.00 roughly from all this but I have an increase of 1% APR and becuase I have had the PPI for 8 months they are not willing to give me this money back becuase they say I have used it for this time. Although I stated at the very beginning this policy was misold to me nothing seems to have come of this.

Please! Please! Please can someone help me with what action I should take or have they made a valid point?

Thanks

Marty

Hi Marty
Sorry to hear of this hunni.

Blimey what are they playing at?

Hun if your not happy about this and I know I would not be, you may have grounds here for 2 complaints with the Financial ombudsman service, I am hoping that someone could clarify this for you on here, but write about today and about your PPI in 2 separate letters to the bank, give them the usual 8 weeks to respond, let us know and we will take it from there.

Good luck hun and if you require a PPI reclaim template let us know, fingers crossed for you, it should be sorted out as soon as you complain, lets hope they put this right for you soon.;)

Di
x

di3004

martiUK wrote: »

has anyone had this before ,have a case against household/benfinacal bank know enter its 12 month suddenly in last few weeks have recieved a letter from them saying that due to changing direct debit date out by 8 days that i have incuurered interst charges totaling £85.00,but this date was changed 2years ago so why have they know told me or are they just being nasty as they know about the case i have against them

Hi there
I believe there are many who has put complaints in about these hun, if you feel they are doing this just because you have a case against them write to them and as usual like the reclaiming give them 8 weeks, if they do not resolve this then take to the FOS.

Good luck hun and please post up if your require more help here, I'm sure others will also repond at some point as well.;)

Di

di3004

digitalphase wrote: »

Do I still have to give them 8 weeks or can I give them 14 days to respond?

Hi hun
This depends on how soon after you received your first response, for example on the first letter you give them 8 weeks, if they responded within 3 weeks then they have 5 weeks and so on.
Can you remember the dates of when you sent the first letter and how long they had taken to respond?

Cheers, and hope this helps, good luck.;)

Di

di3004

Found this in the local news about where hubby worked - job losses

http://www.southwalesargus.co.uk/news/gwentnews/3843583.80_radiator_staff_face_lay_offs/

marshallka

digitalphase wrote: »

Do I still have to give them 8 weeks or can I give them 14 days to respond?

You give them 8 weeks from when you first complained but as you have had one letter than perhaps 14 days is sufficient. To take this complaint to the FOS though you either need a final response or the 8 weeks have passed since first complaining.

maxdp

di3004 wrote: »

Found this in the local news about where hubby worked - job losses

http://www.southwalesargus.co.uk/news/gwentnews/3843583.80_radiator_staff_face_lay_offs/

Di has your husband been laid off