PPI Reclaiming Discussion part 4

di3004

redandwhiterob wrote: »

Hi all

Just a quick couple of questions please and any help much apprecited.

How many years can you go back and claim PPI of loans and credit cards?

I have no paperwork in consideratin to these loans or credit cards that are paid off but looking back on my bank statements from years ago I have a direct debits with name of lender then a number, for eg...Loans Direct 1236446. Will that info be enough when making a cliam

Also even though I took the loan from Lloyds TSB the direct debit says Loans Direct, would I still need to contact Llloys TSB in regards to making a claim.

How would I go about contacting Lloyds TSB, is there a number i can phone or a address I can write to?

More than a couple of questions there:o:D, once again any help much apprecitaed

Hi there

If you had bank loans ppi and credit card ppi you can go back as far as you like, its worth a shot.

You can try to retrieve any data on your accounts by requesting a Subject Access request (SAR), they should supply data going back at least the last 6 years, sometimes they supply details going back to even earlier years.
You have to enclose £10 cheque or postal order with this request and they have 40 calendar days to comply.
You only require one SAR request if you had all loans from lloyds, you write your bank account number on the request - in order for them to send you all they hold on the account(s) you taken out with them.
https://forums.moneysavingexpert.com/discussion/1475553
LLOYDS TSB BANK PLC
DSAR TEAM
CUSTOMER SERVICES
RECOVERY TEAM
CHARLTON PLACE C57
ANDOVER
HAMPSHIRE
SP10 1RE

You still pursue lloyds tsb bank and the address is here;
Lloyds PPI
Customer Care
Lloyds TSB Insurance
Tredegar Park
Newport
South Wales
NP10 8SB

So you complete the questionnaire, keep a copy for yourself as well in case you need to refer to it later on, they have 8 weeks in full to give a response, they may ask for more time.
Stage one of reclaiming/questionnaire here;
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#reclaim

Try to keep everything in writing.

Good luck.

aldawso

Is there still something I can do - is the opnus on them to prove they did it right....?

di3004

aldawso wrote: »

Is there still something I can do - is the opnus on them to prove they did it right....?

How was the policy sold to you?
Telephone/Branch, online application?

marshallka

aldawso wrote: »

Is there still something I can do - is the opnus on them to prove they did it right....?

This would depend on your reasons for misselling. What are they?

Flamingo80

Hi all,

I may be being a bit dense here but I'd like some advice...

A while ago I said that I had had my complaint upheld by Nationwide, but now I'm not quite sure what's happening. I'll quote some parts of the letter here and see if anyone can make it clearer for me, I'll try to be brief.

Basically, loan was for £15000 over 7 years (84 months)

1st letter ~ In order to put you in the position you would be in if you had not taken out the LoanCare policy, we offer £2497.20 (60 payments between Sept 2005 and Aug 2010 @ £41.62. Interest of 8% will be added to each payment.

2nd letter, received today ~ New loan, restricted use to pay off remaining loan.

There was £5671.16 left on loan. Now I have new loan of £4804.85 to pay off over remaining term. That's only taking off future PPI payments, where's my refund?

"Once the signature copy is returned...we will be in a position to complete your mis-selling claim and proceed with any refunds due to you."

Do I send the loan form? Will they pay then re-write the loan again to take off what they're paying me back? Seems very a*se about face to me! Or have I missed the point completely??

Any ideas?? :huh:

di3004

Flamingo80 wrote: »

Hi all,

I may be being a bit dense here but I'd like some advice...

A while ago I said that I had had my complaint upheld by Nationwide, but now I'm not quite sure what's happening. I'll quote some parts of the letter here and see if anyone can make it clearer for me, I'll try to be brief.

Basically, loan was for £15000 over 7 years (84 months)

1st letter ~ In order to put you in the position you would be in if you had not taken out the LoanCare policy, we offer £2497.20 (60 payments between Sept 2005 and Aug 2010 @ £41.62. Interest of 8% will be added to each payment.

2nd letter, received today ~ New loan, restricted use to pay off remaining loan.

There was £5671.16 left on loan. Now I have new loan of £4804.85 to pay off over remaining term. That's only taking off future PPI payments, where's my refund?

"Once the signature copy is returned...we will be in a position to complete your mis-selling claim and proceed with any refunds due to you."

Do I send the loan form? Will they pay then re-write the loan again to take off what they're paying me back? Seems very a*se about face to me! Or have I missed the point completely??

Any ideas?? :huh:

Hi there and well done:beer:

Right you will now have a new loan repayment, because they have reduced the ppi which will be refunded directly back to you, plus the 8% interest to each monthly repayment you made on the account.

So they have put you back in the position as if the ppi was not on the loan.

I would contact them just for them to reassure you on when you should be expecting your refund.

Hope this helps.;)

MattyA

MattyA wrote: »

Hi Like sorted above - I am new to PPI reclaim having never heard of it until I stumbled across this site recently.
Anyway I have been digging through my paperwork of the last 20 years and have come up with various accounts & loans that had PPI on them.
I have sent off the first letters to what I thought were the more straightforward cases (probably no such thing I know) and got my first reply yesterday which in effect was a knockback from Lombard.

They say:
They cant find any reference to me or the account I quote on their systems.
(I have copies of the finance agreement & the PPI/Keyman policy - should I send these to them?)
My claim is for an agreement that dates back to/started in 1997 & that;
(a) I should have known then that I had been mis sold.
(b) It was sold outside the FSA ICCOB regulations and as such a needs & demands statement was not a requirement at that time
(c) Due to the time elapsed time barring rules apply & Lombard reserves the right to apply these rules.

Are they correct in what they are saying is this worth pursuing?
I have not heard of th FSA ICCOB regulations or seen them being mentioned before in relation to PPI claims,nor have I seen time barring mentioned on this site / threads relating to PPI.
(I am new & have not read all the threads as yet admittedly)

Any thoughts / advice would be much appreciated.

Hi further to my earlier post regarding this I wrote back to Lombard & enclosed a copy of the original agreement & PPI insurance policy.
I have received a letter today again denying my claim due to :
1 : Due to the time elapsed time barring rules apply.As it is over 13 years since I should have been aware that I had reason for complaint,Lombard reserve the right to apply these rules. - does anyone know if this can be time barred?
I would also point out that whilst it was sold during 1997 the loan & PPI cover ran until late 2000.

2: They say that it was sold outside of the FSA Insurance code of business regulations & as such a demands & needs statement was not a requirement at that time.

Are they correct & if so is there anywhere else I can go with this?

They do not mention in their letter that this is their final response.

Any ideas / has anyone else had dealings with Lombard?

All help appreciated greatly - This is the first account I have tried to reclaim PPI due to mis-selling.

* They also tell me I can go to the FOS if I am not happy with their response.

Regards,

MattyA

Flamingo80

di3004 wrote: »

Hi there and well done:beer:

Right you will now have a new loan repayment, because they have reduced the ppi which will be refunded directly back to you, plus the 8% interest to each monthly repayment you made on the account.

So they have put you back in the position as if the ppi was not on the loan.

I would contact them just for them to reassure you on when you should be expecting your refund.

Hope this helps.;)

Thanks Di,

I thought they would have taken the £2497 off the loan, then re-structured it? I did request they pay the loan off with it rather than pay me separately so seems odd?

klm1471

can anyone help? i saw on daybreak today that i can reclaim ppi when on a debt mangement company. any idea how i do this? ive been with gregory pennington for around four years, i took out ppi on my loans and cards so fairly certain i can make a cliam, esp as some of the companys i used have allready been fined. im just not sure where i start?

AOA67

Well after signing and sending back Lloyds TSB acceptance form for one of my ongoing loans I received the actual calculation of the PPI rebate today. This loan has just been transferred to the Debt Recovery Department (DRD) with a balance of approximately £15145.

What are farce.......... After spending the last 6 years making reduced payments (to the tune of around £10000) LLoyds believe that the difference between the loan with and without the PPI is only £2611. Despite me asking if they have taken all my payments in account they have refused to budge and said that this was their final offer. When I said that I will be going to the FOS they said
1. That I can't as I signed the acceptance form already. I explained that I only signed because I had to in order to receive the calculation. I was effectively told tough.
2. When I told them I previously was told the it was just routine for the 8% simple interest calculation and I could have it queried he denied it
3. When I insisted that I was going to the FOS he then said I couldn't because the money has already been sent, ie 8% interest to my account the rest to DRD. I replied that it hasn't reached my account yet, it would take 21 days and wanted it to be stopped, he retorted that it can't be stopped.

I have since sent an email to them explaining why the offer is not acceptable and as they refused to reconsider that I'm on record not accepting the offer and reserve my right to go to FOS.

My query is will the FOS reject my claim simply because I stupidly trusted Lloyds and signed the form without knowing the figures?