PPI Reclaiming Discussion part 4

di3004

cho8925873 wrote: »

hi di
thanks for the responce they did send me a copy of the agreement saying how much ppi i paid etc so don't understand what they want loan was end of 03 so within 6 years just not after 14 jan 2005 seems a cop out to me

Hi there

Yes I agree with you, then maybe a SAR (Subject access Request) would help, where they should supply everything requested on the SAR to you, they have 40 days to comply.

Here is the link for this, but there is a charge of £10 for this request, you can pay by either postal order or cheque payment, and of course if you pay by cheque, you can check your bank account, you will know then they have taken the money for this request.
http://forums.moneysavingexpert.com/showthread.html?t=1475553

Keep at them, they are just trying to fob you off.;)

taylor72

I found out today that Lloyds are negotiating a settlement hooray - not sure yet what the final figure will be - what I need to know is this - it was a lump sum added to the loan at the beginning of about £3800- the ones they can no longer sell! - we are not behind in any payments, but do they have the right to take off the setlement from what we still owe on the loan - 2 years left to go at the moment, or can we demand the full amount as a cheque? Also , I believe they will have to set up a new loan without the PPI - can they set it up on a higher rate than what we are currently on?
thanks in adance and thanks especially to Di and all others who are a font of so much knowledge - would never have done this without you:j

di3004

taylor72 wrote: »

I found out today that Lloyds are negotiating a settlement hooray - not sure yet what the final figure will be - what I need to know is this - it was a lump sum added to the loan at the beginning of about £3800- the ones they can no longer sell! - we are not behind in any payments, but do they have the right to take off the setlement from what we still owe on the loan - 2 years left to go at the moment, or can we demand the full amount as a cheque? Also , I believe they will have to set up a new loan without the PPI - can they set it up on a higher rate than what we are currently on?
thanks in adance and thanks especially to Di and all others who are a font of so much knowledge - would never have done this without you:j

Your very welcome hun and Well done !:beer::T:beer:

Make sure you get a quote without the PPI, it should be far lower than the current, but check anyway.

I think in regards of Lloyds they do repay this back directly to you, where I note lately many have had this repaid back into the loans to bring down the repayments, even if they had no missed payments, but if a new loan then they should be paying this directly back to you.;)

Hope this helps, but you can always make sure with them first, or tell them how you want this repaid, to me the ball is in your court now, so tell them what you feel is best for you.;)
Fingers crossed.:beer:

RisingJoe

Rigth... becasue i have had enough with Lloyds... only days left until the end of the 8 weeks... only sent one letter..

i had drafted out the 2nd letter... but they didnt reply within the 8 weeks?

so do i A: start FOS route? and complain through them?
or B: Send of letter 2?

the more i wait the more annoyed they are making me grr.

any suggestions?

taylor72

I wish I could work out what we may be due!! - I'm an impatient little minx lol! -All I know is we are 5years into the loan it realte to so have paid 60 months and the ppi added an extra £50 per month to the payments according to the paper work - any wizards out there that can help give a rough idea??!! - the initial premium was £3800 but obviously we still have 2 years left on the loan to pay but the premium was added at the beginning - so confusing lol

amersall

taylor72 wrote: »

I found out today that Lloyds are negotiating a settlement hooray - not sure yet what the final figure will be - what I need to know is this - it was a lump sum added to the loan at the beginning of about £3800- the ones they can no longer sell! - we are not behind in any payments, but do they have the right to take off the setlement from what we still owe on the loan - 2 years left to go at the moment, or can we demand the full amount as a cheque? Also , I believe they will have to set up a new loan without the PPI - can they set it up on a higher rate than what we are currently on?
thanks in adance and thanks especially to Di and all others who are a font of so much knowledge - would never have done this without you:j

hi there, dont be fobbed off, that money is yours and you want it back, to anyone else who is having the win put back into a loan dont stand for it!!! unless you have arrears. and then they should only put in the loan what you are in arrears by, the remainder should go to you, get fos to clarify this

taylor72

GOOD NEWS FOR A LOT OF YOU!! - I have just had a conversation with the FOS - they say 5 of the major banks have now agreed the PPI was unfair and are negotiating with the FOS on all current complaint - FOB of letters are exactly that - if they fob you off just move to the next step and be confident - most cases are going against the banks now!

di3004

RisingJoe wrote: »

Rigth... becasue i have had enough with Lloyds... only days left until the end of the 8 weeks... only sent one letter..

i had drafted out the 2nd letter... but they didnt reply within the 8 weeks?

so do i A: start FOS route? and complain through them?
or B: Send of letter 2?

the more i wait the more annoyed they are making me grr.

any suggestions?

Hi there

Lloyds are so slow............

Right, because you've heard nothing whatsoever by the full 8 weeks, you are entitled to move this straight on to the FOS.

The 2nd letter is only actually really needed, for instance if they got back but did not resolve your complaint and its a letter to ask them to reconsider basically.

You may have said before, but did you post by recorded delivery and know for definate they received the first letter.
I would also contact them to make sure.

If they have not and they confirmed this another option would be to resend the first letter, but give them less time, say a fortnight, deadline.

You may be aware of the long waiting period with the FOS, but still I'm sure the FOS would eventually resolve this for you.;)

taylor72

amersall wrote: »

hi there, dont be fobbed off, that money is yours and you want it back, to anyone else who is having the win put back into a loan dont stand for it!!! unless you have arrears. and then they should only put in the loan what you are in arrears by, the remainder should go to you, get fos to clarify this

Thanks for this - I have literally just got off te phone for the second time today with the fos - apparently as it stands the banks are within their rights to simply reduce your loan if the ppi relates to an existing one, but they are in negotiations with the fos to make a decision whether this is acceptable now or not - fingers crossed they will decide it is up to us - the ripped off consumers:rolleyes:

di3004

taylor72 wrote: »

I wish I could work out what we may be due!! - I'm an impatient little minx lol! -All I know is we are 5years into the loan it realte to so have paid 60 months and the ppi added an extra £50 per month to the payments according to the paper work - any wizards out there that can help give a rough idea??!! - the initial premium was £3800 but obviously we still have 2 years left on the loan to pay but the premium was added at the beginning - so confusing lol

I would also request for them to post out a full written breakdown, you can then post them on here, hopefully Turbo or Marshallka would be able to take a look at the calculations for you.
I am aware that Turbo is really tied right now, but sure he will be back at some point.;)

I am unable to work out calculations, sore subject for me mathematics , sorry lol.

However, Maxdp did also post up a Calculations thread, that may help, if you cannot find it then please post up.:D