PPI Reclaiming Discussion part 4

di3004

bugsy161 wrote: »

Hi Di,

I am just about managing to keep my head above water at the moment and I have already notified the FOS of the medication that I have had to start taking since last September.
I have the complete misfortune of working opposite a LLoyds TSB branch and I dont know if you have seen the film 'Falling down' starring Michael Douglas but that is how I am starting to feel.

Hi, well hopefully they will take this into consideration for you and move this on for you very soon, fingers crossed.;)

LOL, yeah I know the film.:D

polkadot

I've found three documents in our filing that look like they are related to the loan-two to the current one and one to the original. One is titled "your personal summary and our recommendations". This has a bit in it that says:

" Your existing relevant insurances-type of policy:life, Type of cover:with pension, Sum insured:£25000.00. You also told me that your employer would provide certain benefits if you died. Although you already have the means to meet your loan commitment, you do not wsant to use them for this purpose."

As I understand it, DH wouldn't have needed the PPI and the advisor had basicaly confirmed it? This document does not have DH's signature on it-only the advisors.
The other document is titled "your personal checklist". It has both DH and the advisors signature. There is a tickbox (which DH/advisor has pen ticked) that says:

"I have provided information for you to complete a your personal summary and our recommendations" form and received a copy of this form (where optional insurance is provided for the loan or other insurance products are provided)"

On the current loan, the "total amount payable for the cash loan" is
£15 240.00 and the "total amount payable for loan for loan protection Insurance" is £4524.60 :eek: Leaving the total amount payable at
£19 765.20 :mad: for the "privilege" of borrowing £11 000.00, with a monthly repayment of £329.40
The third document looks like its a screen dump of the beginning of a loan for a total amount of £9200.00 and an insurance amount of £2 720.93. "Charges for credit" on this one are 3 680.88 for the loan and £1 088.70 for the insurance, leaving the total amount payable for the loan £12 880.88 and for the insurance £3809.63 (Grand total payable=£16 690.51) at a monthly repayment of £282.89.

Im going to do a SAR (Thanks for referring me to the template Di) to establish if this was in fact the original loan. But if it was it means that his current loan is handing Lloyds TSB £8334.23 for Sweet F*** All.

I suppose the question I really want answered is as the original loan is now "basically closed" can we make a claim for that one too (considering that if the "very helpful advisor" hadn't advised DH to take the new loan, we would still be paying the first one)?

Please forgive me for the long post...I just cant get my head around these figures :mad: and I want to go back to the days where I believed my bank manager was my friend

di3004

polkadot wrote: »

I've found three documents in our filing that look like they are related to the loan-two to the current one and one to the original. One is titled "your personal summary and our recommendations". This has a bit in it that says: As I understand it, DH wouldn't have needed the PPI and the advisor had basicaly confirmed it? This document does not have DH's signature on it-only the advisors.
The other document is titled "your personal checklist". It has both DH and the advisors signature. There is a tickbox (which DH/advisor has pen ticked) that says:

On the current loan, the "total amount payable for the cash loan" is
£15 240.00 and the "total amount payable for loan for loan protection Insurance" is £4524.60 :eek: Leaving the total amount payable at
£19 765.20 :mad: for the "privilege" of borrowing £11 000.00, with a monthly repayment of £329.40
The third document looks like its a screen dump of the beginning of a loan for a total amount of £9200.00 and an insurance amount of £2 720.93. "Charges for credit" on this one are 3 680.88 for the loan and £1 088.70 for the insurance, leaving the total amount payable for the loan £12 880.88 and for the insurance £3809.63 (Grand total payable=£16 690.51) at a monthly repayment of £282.89.

Im going to do a SAR (Thanks for referring me to the template Di) to establish if this was in fact the original loan. But if it was it means that his current loan is handing Lloyds TSB £8334.23 for Sweet F*** All.

I suppose the question I really want answered is as the original loan is now "basically closed" can we make a claim for that one too (considering that if the "very helpful advisor" hadn't advised DH to take the new loan, we would still be paying the first one)?

Please forgive me for the long post...I just cant get my head around these figures :mad: and I want to go back to the days where I believed my bank manager was my friend

Hi there
And your welcome

The answer is "yes" you can make a reclaim on active or settled accounts.

I know what you mean about the bank manager being a friend, think we all think the same here, and they were just after a bit of extra commission.....hmmmmmm:(.

But yes, go for it.

So no matter how many, if you have a few then reclaim on all the PPI on them all, however separate Questionnaires are required to be completed for each one.
You will find this on the guidelines of reclaiming page further down the page, on Stage one, FOS questionnaires - these are instead of template letters, keep copies and they have 8 weeks in full to respond with a decision.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
I would post within the post office to have proof of posting.

Good luck with this and please keep us posted and ask for help anytime as well.

Di

polkadot

Thanks Di The address for Lloyds on the A-Z sticky is
Lloyds PPI
Customer Care
Lloyds TSB Insurance
Tredegar Park
Newport
South Wales
NP10 8SB
Tel 0845 3005599
Fax 01633 468835
Is this what I use for the questionnaire or do I I use the branch address on the branch locator on Lloyds website?

Can I assume I should also be using the branch locator address for the SAR?

di3004

polkadot wrote: »

Thanks Di The address for Lloyds on the A-Z sticky is
Lloyds PPI
Customer Care
Lloyds TSB Insurance
Tredegar Park
Newport
South Wales
NP10 8SB
Tel 0845 3005599
Fax 01633 468835
Is this what I use for the questionnaire or do I I use the branch address on the branch locator on Lloyds website?

Can I assume I should also be using the branch locator address for the SAR?

Hi

Yes in regards of reclaiming the PPI, that is the correct address you added above, in regards of the SAR, I think its this one here:

LLOYDS TSB BANK PLC
DSAR TEAM
CUSTOMER SERVICES
RECOVERY TEAM
CHARLTON PLACE C57
ANDOVER
HAMPSHIRE
SP10 1RE

2feet

Hi there,
Thanks to this wonderful site, I'm taking the plunge in trying to reclaim some mortgage PPI (that I cancelled last year but still paid nearly £2000 on!) but am wondering who to claim from. The guy that gave me the 'financial advise' works for Sequence UK (the estate agents are part of the same group I think) but the actual PPI policy was with Wessex Insurance.
So who should I send my claim to - Sequence or Wessex?
Sorry if this is a dumb question and thanks in advance for any help
Cheers, Sam.

di3004

2feet wrote: »

Hi there,
Thanks to this wonderful site, I'm taking the plunge in trying to reclaim some mortgage PPI (that I cancelled last year but still paid nearly £2000 on!) but am wondering who to claim from. The guy that gave me the 'financial advise' works for Sequence UK (the estate agents are part of the same group I think) but the actual PPI policy was with Wessex Insurance.
So who should I send my claim to - Sequence or Wessex?
Sorry if this is a dumb question and thanks in advance for any help
Cheers, Sam.

Hi Sam and welcome.;)

I understand the PPI can still be reclaiming on mortgages, but do you think you could post this one on a separate thread, (stay within these PPI reclaiming threads), and Dunstonh and/or MagpieCottage should be able to help and advise on this one as its in regards of mortgage ppi.

Then it will not be missed, and if you want to subject it as:

"Mortgage PPI help please"

Hope this helps and good luck with this.:)
Di

RHonda_2

Hi there,

Just after a bit of advice. 3 years ago I took out a loan with Lloyds TSB to cover some traveling expenses for £4,000. I then last year combined that loan with an out standing balance on my credit card making a new loan of £7,500. I had taken out PPI which was added on top of the £4,000. I chose to pay for the whole lot monthly. Then last year when combining my loan and credit card into a new loan of £7,500 another PPI was taken out and added on top of that one. So thinking about it im paying the PPI which was added to the first loan and then the PPI on this loan. I felt pressured into agreeing for the PPI as they kept on about injury/job loss and what if I couldnt pay back. Do I have a claim? Just im a bit worried as i renewed the old loan so not sure if that would prevent me claiming as the new loan has only been going for about a year.

Any advise would be great

di3004

RHonda wrote: »

Hi there,

Just after a bit of advice. 3 years ago I took out a loan with Lloyds TSB to cover some traveling expenses for £4,000. I then last year combined that loan with an out standing balance on my credit card making a new loan of £7,500. I had taken out PPI which was added on top of the £4,000. I chose to pay for the whole lot monthly. Then last year when combining my loan and credit card into a new loan of £7,500 another PPI was taken out and added on top of that one. So thinking about it im paying the PPI which was added to the first loan and then the PPI on this loan. I felt pressured into agreeing for the PPI as they kept on about injury/job loss and what if I couldnt pay back. Do I have a claim? Just im a bit worried as i renewed the old loan so not sure if that would prevent me claiming as the new loan has only been going for about a year.

Any advise would be great

Hi there

For being pressurised to take out PPI, you do have a case, do also check on the link I will post below the checklist of any other reasons that may also apply to you as well.

What you do instead of using template letters now, the Financial ombudsman service (FOS) have recently issued new Questionnaires, you will find these further down the page on the link as Stage one, complete and keep copies, and if you have a few, keep them separately, they have 8 weeks in full to respond with a decision and with it being Lloyds, keep on at them, even if you receive a final decision your not happy with, sometimes they will still reconsider, but if not then you can always complain to the FOS.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Post within the post office for proof of posting.

Good luck and please keep us posted too, cheers.:)

Balaeric

Dear Money Saving Experts

I took out an egg loan in June 2006 for £10,734.28. Of this £5,265.70 was PPI. I then closed this loan in Dec 2006 and took out a larger loan, this time with no PPI. This was to consolidate my credit cards and egg loan together. I have asked egg to refund my PPI. They have written to me an offered me £1010.64. I don't think this is enough but don't want to refuse in case they take the offer away. what should I do?