PPI Reclaiming Discussion part 4

worldsnooker147

thankyou so much.

on top of that im so annoyed because the ppi has been added in with the loan as a lump sum and they are saying it cant be cancelled

but im not sure if theyre just saying this cos theyre trying to bluff me or i really can cancel it

di3004

worldsnooker147 wrote: »

thankyou so much.

on top of that im so annoyed because the ppi has been added in with the loan as a lump sum and they are saying it cant be cancelled

but im not sure if theyre just saying this cos theyre trying to bluff me or i really can cancel it

Its my pleasure.
That is the thing with these costly rip off policies, however you should be entitled to cancel the ppi when you want, but the problem is here is does not reduce by much, its so annoying.
These type of policies they have stopped selling now and they are frowned upon big time by regulators.

However, in my opinion you should be successful in reclaiming this back, so what they must do then it refund you all you have paid in ppi, interest and also 8% interest on top of what a court would award for being deprived of your money.
And then they must reduce your monthly payments.;) This way it will be reduced by far more a month.

worldsnooker147

we pay £80 per month for the ppi at present!!

monthly repayments are £315, so a £80 drop would be hugely significant!!

if we are successful are we entitled to the cheque/cash ?? or do they have the right to reduce the loan balance?? ( with the loan still being active i mean)

di3004

worldsnooker147 wrote: »

we pay £80 per month for the ppi at present!!

monthly repayments are £315, so a £80 drop would be hugely significant!!

if we are successful are we entitled to the cheque/cash ?? or do they have the right to reduce the loan balance?? ( with the loan still being active i mean)

There will be a huge difference in the amounts when this is resolved.

This can vary from one company to another in way of dealing with refunds, if there are missed payments/arrears, they do normally refund the amount towards them and anything remaining should be refunded directly to you by forms of a cheque payment.

Some will use the refund toward the balance but again it can vary, but if no arrears you are in your right to request they refund directly to you for being out of pocket in the first place.;)

di3004

Bugsy, any luck with hearing from Lloyds since yesterday honey?
:j:j

bugsy161

di3004 wrote: »

Bugsy, any luck with hearing from Lloyds since yesterday honey?
:j:j

I tried phoning the number twice today and the number just rung out so I will try again tomorrow.
It was strange that the caller just said 'this is Sarah from the bank' but I have checked my files and Lloyds have used the 0113 number before. Just seems unprofessional to not mention who was calling.
Going to email Lloyds again tomorrow too, as I have not heard back from the email I sent on Wednesday.

di3004

bugsy161 wrote: »

I tried phoning the number twice today and the number just rung out so I will try again tomorrow.
It was strange that the caller just said 'this is Sarah from the bank' but I have checked my files and Lloyds have used the 0113 number before. Just seems unprofessional to not mention who was calling.
Going to email Lloyds again tomorrow too, as I have not heard back from the email I sent on Wednesday.

Hiya

Yeah I agree with you.
Good luck for tomorrow then.;)

bugsy161

di3004 wrote: »

Hiya

Yeah I agree with you.
Good luck for tomorrow then.;)

Will keep you updated as ever.

xx

di3004

bugsy161 wrote: »

Will keep you updated as ever.

xx

That will be great thank you honey XX;):beer:

bugsy161

aDDING TEXT

di3004 wrote: »

That will be great thank you honey XX;):beer:

Hi Di,

I managed to get through to that number today and it was not Lloyds TSB after all. It was a marketing call from Yorkshire Bank!!!!

Do you have a contact number for Lloyds customer care (I use that phrase very lightly) as I want to get confirmation that they have received all of my docummentation from the FOS.