PPI Reclaiming Discussion part 4

jorcon3018

Hi All,

I posted last week re nmy claim against loans.co.uk. To cut a long story short, i re-sent my initial copmplain letter using the templates from this site. They have sent me a letter referring to their final response which they issued in 2006, which pretty much says get stuffed as you signed the agreement & referring me to FOS.

This final response was issued following a verbal complaint i made when i first realised they'd sneaked PPI onto my loan, and as this was in 2006,. ie before Loans.co.uk got fined by the FSA and before i knew i could claim this money back.

I suppose my question is, what do i do next & what letter if any should i now use to move this forward.

Also, the final response letter doesn't respond to any of my allegations, regarding in-proper loan proposal form (ie not option to opt out of PPI) and the fact that my initial phone call stated no PPI required, and also that they sold me a single PPI policy (ie cover for only me) yet the loan was a joint loan with my wife. It only states they mentioned the PPI to my wife who stated she'll refer to me, and basically to get stuffed.

Thanks

bugsy161

amersall wrote: »

:j:j:j:j whoopee doo :beer: well done :money:

lloyds will give you back interest on your payments as well as the 8%
double check your figures when you get the break down
as lloyds are very cheeky ( they are worse than that, but this is an open forum and our di doesnt hold with swearwords) :rotfl::rotfl:

Nor me Amersall.......................I love Lloyds TSB..!!!!!!!!!!!!!!!!!
The current monthly rate on a LLoyds TSB card is 1.6675 on purchases and 2.075% on cash.
Therefore Lloyds will owe you compounded interest on all of your monthly PPI payments and simple interest of 8% on any payments that are taken into credit.
Be very careful with Lloyds and check the figures (as Amersall says) because they will appear to be very generous but will always get away with as little as possible.

manc

amersall wrote: »

:j:j:j:j whoopee doo :beer: well done :money:

lloyds will give you back interest on your payments as well as the 8%
double check your figures when you get the break down
as lloyds are very cheeky ( they are worse than that, but this is an open forum and our di doesnt hold with swearwords) :rotfl::rotfl:

Fantastic- Let's hope they do that!
And yes - let's go for cheeky - most of the names I've called them are unrepeatable in a family environment like this!

bugsy161

manc wrote: »

Around 18 months ago- I finally started the process of getting debts in order.

I went through the whole reclaiming process and got letters saying Lloyds were investigating my claim and after a couple of months they wrote to say they believed I was asked in a phone conversation with the bank if I wanted PPI and I agreed. I know this didn't happen as I always made a point of never adding any extra payments as I wasn't affording what I already had to pay as it was. Nothing was ever sent to me to confirm this either.

They then went on to say that had attempted to check their recorded calls/ written records and they were unable to find anything about the PPI and that because they had no evidence that I said no on the phone to someone selling me PPI then they had to assume that I had said yes (!!!) and that the complaint was not being upheld!!

This seemed an utterly absurd piece of logic to me!

From here I meant to to take it forward but had lost heart a little and eventually it got forgotten about until recently.
I'd read a lot about how companies- and especially Lloyds - were rejecting people straight away and they had been pulled up on this by the Ombudsman.

So using the new PPI claiming form from MSE I decided to reattempt claiming- as now they actually had to take my complaint seriously - which they didn't seem to before!
I sent off all the paperwork last Friday and today...

LLOYDS ACCEPTED THAT THEY WERE IN THE WRONG!!!! AND WILL BE REFUNDING ME!!! YAY!!!

The letter said that the records relating to the sale of my PPI were 'incomplete' and on that basis the only fair result was to refund me! (Of course the records were incomplete, I never asked for, wanted or signed for PPI! They basically admitted they stole from me for 13 months!)

They sent a form for me to sign and send back and then the total refund would be calculated and paid.

I just have a question - in my paperwork with my claim I included the total charged plus total with 8% interest.
But the PPI was charged on a Credit Card with a much higher interest charge - 20 odd %- that I was heavily in debt to.

What are Lloyds likely to do? Take into account the fact I paid x% of interest on the PPI or only pay the 8% I claimed. I only thought about this today after coming on here to check what happens next!

I'm obviously really happy that I'm getting the money back - around £250:) -
but after 3 years of constant phone calls over my credit card - awful customer service- have to ask 13 times for them remove my parents phone number (honestly!)- PPI I never asked for - Interest on this PPI - Charges for being over my limit due in part to them taking the PPI in the first place....
I really want the most I can get from them.
Lloyds have been an utter nightmare.

Rant over... What do people think?

And YAY!!! for a refund!!! lol

If you won a claim with the FOS then they would insist that any charges attached in relation to the PPI should also be refunded, plus the compounded interest.
I would tell Lloyds that the overlimit charges are a result of the PPI so you want them refunding too.

amersall

bugsy161 wrote: »

Nor me Amersall.......................I love Lloyds TSB..!!!!!!!!!!!!!!!!!
The current monthly rate on a LLoyds TSB card is 1.6675 on purchases and 2.075% on cash.
Therefore Lloyds will owe you compounded interest on all of your monthly PPI payments and simple interest of 8% on any payments that are taken into credit.
Be very careful with Lloyds and check the figures (as Amersall says) because they will appear to be very generous but will always get away with as little as possible.

:rotfl::rotfl::rotfl: i know you love this company ;) how long is it you have known them 3 years ?:rotfl:

amersall

jorcon3018 wrote: »

Hi All,

I posted last week re nmy claim against loans.co.uk. To cut a long story short, i re-sent my initial copmplain letter using the templates from this site. They have sent me a letter referring to their final response which they issued in 2006, which pretty much says get stuffed as you signed the agreement & referring me to FOS.

This final response was issued following a verbal complaint i made when i first realised they'd sneaked PPI onto my loan, and as this was in 2006,. ie before Loans.co.uk got fined by the FSA and before i knew i could claim this money back.

I suppose my question is, what do i do next & what letter if any should i now use to move this forward.

Also, the final response letter doesn't respond to any of my allegations, regarding in-proper loan proposal form (ie not option to opt out of PPI) and the fact that my initial phone call stated no PPI required, and also that they sold me a single PPI policy (ie cover for only me) yet the loan was a joint loan with my wife. It only states they mentioned the PPI to my wife who stated she'll refer to me, and basically to get stuffed.

Thanks

As this is the final reply, take this to fos,give them a ring and they will fill the form in for you and ask that you send any paperwork relevent to this to them. Dont give up as you will get there in the end Good luck with this and please keep us posted x

di3004

manc wrote: »

Around 18 months ago- I finally started the process of getting debts in order.

I went through the whole reclaiming process and got letters saying Lloyds were investigating my claim and after a couple of months they wrote to say they believed I was asked in a phone conversation with the bank if I wanted PPI and I agreed. I know this didn't happen as I always made a point of never adding any extra payments as I wasn't affording what I already had to pay as it was. Nothing was ever sent to me to confirm this either.

They then went on to say that had attempted to check their recorded calls/ written records and they were unable to find anything about the PPI and that because they had no evidence that I said no on the phone to someone selling me PPI then they had to assume that I had said yes (!!!) and that the complaint was not being upheld!!

This seemed an utterly absurd piece of logic to me!

From here I meant to to take it forward but had lost heart a little and eventually it got forgotten about until recently.
I'd read a lot about how companies- and especially Lloyds - were rejecting people straight away and they had been pulled up on this by the Ombudsman.

So using the new PPI claiming form from MSE I decided to reattempt claiming- as now they actually had to take my complaint seriously - which they didn't seem to before!
I sent off all the paperwork last Friday and today...

LLOYDS ACCEPTED THAT THEY WERE IN THE WRONG!!!! AND WILL BE REFUNDING ME!!! YAY!!!

The letter said that the records relating to the sale of my PPI were 'incomplete' and on that basis the only fair result was to refund me! (Of course the records were incomplete, I never asked for, wanted or signed for PPI! They basically admitted they stole from me for 13 months!)

They sent a form for me to sign and send back and then the total refund would be calculated and paid.

I just have a question - in my paperwork with my claim I included the total charged plus total with 8% interest.
But the PPI was charged on a Credit Card with a much higher interest charge - 20 odd %- that I was heavily in debt to.

What are Lloyds likely to do? Take into account the fact I paid x% of interest on the PPI or only pay the 8% I claimed. I only thought about this today after coming on here to check what happens next!

I'm obviously really happy that I'm getting the money back - around £250:) -
but after 3 years of constant phone calls over my credit card - awful customer service- have to ask 13 times for them remove my parents phone number (honestly!)- PPI I never asked for - Interest on this PPI - Charges for being over my limit due in part to them taking the PPI in the first place....
I really want the most I can get from them.
Lloyds have been an utter nightmare.

Rant over... What do people think?

And YAY!!! for a refund!!! lol

Manc

WOW, well done and Congratulations to you.:T:beer::j

And I see our amersall have already explained.

Again well done!:beer:

bugsy161

amersall wrote: »

:rotfl::rotfl::rotfl: i know you love this company ;) how long is it you have known them 3 years ?:rotfl:

I feel as though they are part of the family.
I may even put them on my Xmas list:rotfl:

di3004

Manc and as what Bugsy explained too, as Bugsy like myself have had dealings with Lloyds.:beer:

di3004

jorcon3018 wrote: »

Hi All,

I posted last week re nmy claim against loans.co.uk. To cut a long story short, i re-sent my initial copmplain letter using the templates from this site. They have sent me a letter referring to their final response which they issued in 2006, which pretty much says get stuffed as you signed the agreement & referring me to FOS.

This final response was issued following a verbal complaint i made when i first realised they'd sneaked PPI onto my loan, and as this was in 2006,. ie before Loans.co.uk got fined by the FSA and before i knew i could claim this money back.

I suppose my question is, what do i do next & what letter if any should i now use to move this forward.

Also, the final response letter doesn't respond to any of my allegations, regarding in-proper loan proposal form (ie not option to opt out of PPI) and the fact that my initial phone call stated no PPI required, and also that they sold me a single PPI policy (ie cover for only me) yet the loan was a joint loan with my wife. It only states they mentioned the PPI to my wife who stated she'll refer to me, and basically to get stuffed.

Thanks

Hi there

Was this the final response, where they enclosed the details/leaflet of the FOS?

If so as amersall said, complain now to the FOS, you can do this by either ringing them for a complaints form, or download and print the complaints form from their website.
http://www.financial-ombudsman.org.uk/consumer/complaints.htm

If not the final letter, then write back and give them about 14 days before you decide to go the FOS direction, tell them you stand your ground and despite their findings you have reasons to make a reclaim, and requesting them to consider, if you do have any further information to give, add that as well.

Keep at them, good luck.;)