PPI Reclaiming Discussion part 4

anaylorefc

anaylorefc wrote: »

Hi All,

My girlfriend received her t&c's from Lloyds today and it has PPI included in it. However there is another column that I don't understand. It's for £900 (£22.18 per month) labelled "Loan for repayment of existing debts owed by you as referred to in condition 1(c)"

Condition 1(c) reads: Any amount lent to you to pay the optional Loan Protection premium or to repay any existing debts which you owe to any company in the LLoyds TSB group will be paid by us directly to settle amounts due.

If I read that correctly it implies she had other debt that Lloyds paid off. She says this was her first ever loan so that can't be possible. However, if she was mistaken then surely Lloyds should've provided information of this other debt when we requested all their information?

Any help explaining this would be appreciated

Thanks

Just a quick bump to get some attention and hopefully an answer

saverjustice

Is it because the PPI was added as a single premium and the loan amount increased to pay this premium?

amersall

anaylorefc wrote: »

Hi All,

My girlfriend received her t&c's from Lloyds today and it has PPI included in it. However there is another column that I don't understand. It's for £900 (£22.18 per month) labelled "Loan for repayment of existing debts owed by you as referred to in condition 1(c)"

Condition 1(c) reads: Any amount lent to you to pay the optional Loan Protection premium or to repay any existing debts which you owe to any company in the LLoyds TSB group will be paid by us directly to settle amounts due.

If I read that correctly it implies she had other debt that Lloyds paid off. She says this was her first ever loan so that can't be possible. However, if she was mistaken then surely Lloyds should've provided information of this other debt when we requested all their information?

Any help explaining this would be appreciated

Thanks

Hi there, i read it as insurance to pay the loan she has,it is what the ppi is,as Lloyds lent you the money to pay the ppi policy that covers the loan.

saverjustice

Good grief, they get 80% commission and interest on top?

cappo

just had a letter back from hsbc on the 4 loans i mentioned before, offering me just under 6k which was a little bit less than i was hoping for but i think it's right as i had the 4 loans over only 4 years and kept refinancing them so it will pay my cap 1 card off in full and my n&p overdraft so at least i don't owe anything, now i've got figures for that i can put the mortgage ppi in also with hsbc (there going to love me lol) just got to try to get them to renegotiate the credit card and 4k loan now that leaves 2 at the fos 3 new (old) claims with LTSB and mppi with hsbc

alfonso

Apols in advance if this is in the wrong area.

After reading the threads on the site re PPI I thought I would send for my credit report from Experian.
I can see who has been checking up on me and I see a finance company agreement from when I bought a car in 2002. There are also some details from utility companies.
What I dont se on my report is details from my mortgage (paid off last year) or the 2 endownment policies I was sold a long time ago (both still active)
Should these "loans" and "insurances" be included in a credit report ?
Thanks in advance
Alf

cappo

alfonso wrote: »

Apols in advance if this is in the wrong area.

After reading the threads on the site re PPI I thought I would send for my credit report from Experian.
I can see who has been checking up on me and I see a finance company agreement from when I bought a car in 2002. There are also some details from utility companies.
What I dont se on my report is details from my mortgage (paid off last year) or the 2 endownment policies I was sold a long time ago (both still active)
Should these "loans" and "insurances" be included in a credit report ?
Thanks in advance
Alf

I'm not sure about this alf although i would have thought all borrowing would have been included the other guys might know a bit more about this. good luck.

saverjustice

No insurance policies Alf, just credit accounts that the lenders put there depending upon which agency they use.

anne47

Hi , Finally got through to RBS this afternoon and spoke to "John" . He told me that they were near the final calculation and would be in touch very soon . I reminded him the 16 weeks were up on Oct 5th . So , the waiting game continues !

saverjustice

"near the final calculation"

How long does it take to press the = button?