PPI Reclaiming Discussion part 4

di3004

madwithlloyds wrote: »

Update on Lloyds PPI Claim

Following on from my post last week, where I had been totally ignored by my branch of Lloyds since 14th April 2010 regarding my complaint on 2 Loans,I spoke to customer care and I contacted Eric Daniels via email on monday 23rd August.

I recieved a what I would imagine to be a standard letter from customer care on the 24th August saying that they would be looking into the matter and a decision would be made within 8 weeks.

Yesterday I recieved a letter saying that "Mr Daniels has asked me to investigate your concern and to provide you with a reply as soon as possible"

They letter was an apology and to say that they have found no evidence that either policy were mis-sold, and that they have decided to resolve my complaint by offering me a full refund on both loans!!!!

A total of £7670!

I have signed acceptance forms and posted back to them and now I just wait until the money is in the bank. I hope it doesnt turn into a fiasco like the complaint has.

Very happy now as it allows us to be totally debt free and have a large amount left to do with what we please.

Thank you to MSE forum and to the people on here for all the advise you have given to me as I wouldnt have been able to do this without all the help I have recieved from this site.

Thanks again

Not quiet so Mad with lloyds :j

Great news this, well done and Congratulations!:T:beer::j

di3004

Glawseagle wrote: »

A quick update after finally receiving confirmation of success in our third and final dispute regarding the mis-selling of PPI by both Santander & The Black Horse.

Black Horse Loan PPI - £401.00

Santander Credit Card PPI - £824.00

Santander Loan PPI - £4333.00

So for the sake of writing 6 letters, filling in 3 forms, making a dozen phone calls, we are £5558 better off.

Heartfelt thanks to Martyn and especially to you lot on here.

Keep up the good work against the greedy, mischievous financial establishments.

Fantastic :T, Well done and Congratulations!:beer:

di3004

pennilessEm wrote: »

Hi, Been a lurker for a while but I need advice!
I have finally sent off my 1st request to Halifax re my mis-sold PPI. how long should I give them to contact me? I can't see anything that gives me an idea...

Hi there

They have 8 weeks in full to respond, sometimes they write back to ask for more time, in this case they should give you a timescale of when you should hear of a decision.

Fingers crossed.;)

victorianclare

Hi all,
A little bit more advice required if poss please.
I've had a letter from Capital One today knocking back my claim for mis-sold credit card PPI.
In my opinion they are total chancers as the PPI was 'sold' during 2006- the period the FSA has already fined them for!
Anyway, my question is this. They are using the fact that the policy was sold on a "non-advised" basis as a defence.
Does anyone have any good comebacks for this? Is there any evidence from the FOS or anywhere else that says "non-advised" is not an adequate defence?
Thanks again peeps.
Best wishes,
Clare

di3004

victorianclare wrote: »

Hi all,
A little bit more advice required if poss please.
I've had a letter from Capital One today knocking back my claim for mis-sold credit card PPI.
In my opinion they are total chancers as the PPI was 'sold' during 2006- the period the FSA has already fined them for!
Anyway, my question is this. They are using the fact that the policy was sold on a "non-advised" basis as a defence.
Does anyone have any good comebacks for this? Is there any evidence from the FOS or anywhere else that says "non-advised" is not an adequate defence?
Thanks again peeps.
Best wishes,
Clare

Hi Clare

Do not let this hold you back, many have still be successful in reclaiming from a non advised basis sale, and this is one of the standard knock backs.
You have your reasons, so stand by them.

You could write back and ask them to reconsider, despite their findings and the rejection of your complaint - tell them you stand your ground and have reasons to make a reclaim, then go on to say that you have learnt that the FSA are punishing banks etc for not investigating complaints properly and for rejecting genuine complaints, and you believe yours have been overlooked, as you also believe non advised or advised, it was not sold in your best interest.

Lots have received these knock backs and asked for reconsideration and the decision have been turned in their favour.
Even if it was a final response.

You could then say, if you do not hear nothing on this matter by about 14 days you will take this matter further via the Financial ombudsman service (FOS) or through the courts.
(in most cases its the FOS).

Some info here too.
http://www.independent.co.uk/money/spend-save/is-nonadvised-an-excuse-for-misselling-1662675.html

http://www.which.co.uk/campaigns/personal-finance/the-ppi-campaign/how-to-tell-if-youve-been-missold-ppi/

Basically if the sale was literally advised to you when you purchased the policy, they cannot exactly state it was non-advised.;)

Good luck, keep at them.

Ian4

Hi Di,

Thanks for your response, I have drafted out my letter to send off to Lloyds, it's in the post tomorrow.
Just a thought, would it be worth while sending an email to the CEO of Lloyds TSB? Thought of copying him in on the letter, what's your thoughts?

Ian

di3004

Ian4 wrote: »

Hi Di,

Thanks for your response, I have drafted out my letter to send off to Lloyds, it's in the post tomorrow.
Just a thought, would it be worth while sending an email to the CEO of Lloyds TSB? Thought of copying him in on the letter, what's your thoughts?

Ian

Hi Ian, your very welcome.

And yes I think it would be a good idea to send the CEO a copy of your letter, everything helps.;)
Good luck.

Di

pennilessEm

maxdp wrote: »

Hi There

give them 8 weeks to reply to your complaint letter. Good Luck

Than you very much.

pennilessEm

sorry, that should have said thanK you!

bugsy161

di3004 wrote: »

Hi Clare

Do not let this hold you back, many have still be successful in reclaiming from a non advised basis sale, and this is one of the standard knock backs.
You have your reasons, so stand by them.

You could write back and ask them to reconsider, despite their findings and the rejection of your complaint - tell them you stand your ground and have reasons to make a reclaim, then go on to say that you have learnt that the FSA are punishing banks etc for not investigating complaints properly and for rejecting genuine complaints, and you believe yours have been overlooked, as you also believe non advised or advised, it was not sold in your best interest.

Lots have received these knock backs and asked for reconsideration and the decision have been turned in their favour.
Even if it was a final response.

You could then say, if you do not hear nothing on this matter by about 14 days you will take this matter further via the Financial ombudsman service (FOS) or through the courts.
(in most cases its the FOS).

Some info here too.
http://www.independent.co.uk/money/spend-save/is-nonadvised-an-excuse-for-misselling-1662675.html

http://www.which.co.uk/campaigns/personal-finance/the-ppi-campaign/how-to-tell-if-youve-been-missold-ppi/

Basically if the sale was literally advised to you when you purchased the policy, they cannot exactly state it was non-advised.;)

Good luck, keep at them.

Hiya Di,

Hope you are well.

Just an update on my Lloyds PPI refund.

Spoke to the very helpful lady at Customer Care again today and she has transferred the £200 distress and inconvenience money into my account.
I should get the final settlement figure for the refund on Monday and the figure for the reconstruction of the account by next Thursday.
Interesting to note that Lloyds only have records going back 10 years so, unless you can prove that you had PPI before then, they will only pay you a maximum of 6 years.
This also applies if you took out PPI in the 80's or 90's. You have to be able to prove that it was taken out, or in force. In my case they have the evidence from 1987 to prove it.
The other point to note is that, if you were paying PPI prior to 2000 (10 years ago), they have no record of what you were paying so, unless you can prove otherwise they will take the last payment on record as being the same for the previous number of years.
For example......if you were paying £10 per month PPI in 2000 and you took the PPI out in 1995, they would use the calculation based on the fact that you were paying £10 per month all the way back to 1995, irrespective of what you had been paying or what the balance was.
If you were paying no PPI due to a nil balance in 2000, but were paying £50 per month in 1998 then the calculation is based on the nil balance unless you can prove otherwise.
Fortunately for me I did not have a nil balance in 2000 so they have calculated back to 1987 based on the PPI I was paying in 2000, which will be great if I was paying about £50 per month which I think I was.
They will always use this calculation in favour of the customer but it is not in favour of the customer if the 10 year ago figure was low, or even nil.