Lloyds tsb ppi

di3004

mrcow wrote: »

Really sorry - I should have updated this ages ago! Lloyds paid up in full over this.

They took about 4 months in total, but refunded my friend all of the money paid, plus interest lost. It actually wiped out the remainder of the loan - which was great as she'd just gone onto a DMP and was struggling.

Anyone who is considering this, please just do it. Lloyds were very underhanded when they insisted that my freind took out PPI - they exploit those who are desperate or who don't understand these things and as far as I'm concerned, as a respected bank, have completely abused their position.

Hiya don't worry.

That is fab news, Congratulations to your friend.:beer:

And Great work from you well done.:T

amersall

mrcow wrote: »

Really sorry - I should have updated this ages ago! Lloyds paid up in full over this.

They took about 4 months in total, but refunded my friend all of the money paid, plus interest lost. It actually wiped out the remainder of the loan - which was great as she'd just gone onto a DMP and was struggling.

Anyone who is considering this, please just do it. Lloyds were very underhanded when they insisted that my freind took out PPI - they exploit those who are desperate or who don't understand these things and as far as I'm concerned, as a respected bank, have completely abused their position.

Well done to you :T:T:T Just so you know for future reference
there is no longer a respected bank anymore in my book :D

Usurper

Just received my letter confirming they have received the complaint, and they will send me a letter after 4 weeks to let me know how it is going, and they aim to resolve it within eight weeks.

then if they are not able to provide me with a final decision in eight weeks they can refer me to the Financial Ombudsman service, who will independently review my complaint.

should i wait for their investigation to be completed before i do anything more?

fingers crossed they just admit their failure to be honest and pay me back what is lawfully mine.

di3004

Usurper wrote: »

Just received my letter confirming they have received the complaint, and they will send me a letter after 4 weeks to let me know how it is going, and they aim to resolve it within eight weeks.

then if they are not able to provide me with a final decision in eight weeks they can refer me to the Financial Ombudsman service, who will independently review my complaint.

should i wait for their investigation to be completed before i do anything more?

fingers crossed they just admit their failure to be honest and pay me back what is lawfully mine.

Hi there

Thanks for your update.

Yes, this is normally procedure, this is fine.

Fingers crossed for a good outcome, good luck.;)

Usurper

Received my reply back, not sure if i should type what they said, but basically they have said they disagree that the policy was mis-sold. Claiming we signed the paperwork so knew what we were getting into, and it could have been cancelled at any time


If i feel i have been unfairly treated i can contact the financial Ombudsman service within 6 months.

I am assuming i go straight to the financial ombudsman now?

also does anyone have a link to the appropriate letter i should send please? i seem to have deleted the one i had saved.

di3004

Usurper wrote: »

Received my reply back, not sure if i should type what they said, but basically they have said they disagree that the policy was mis-sold. Claiming we signed the paperwork so knew what we were getting into, and it could have been cancelled at any time


If i feel i have been unfairly treated i can contact the financial Ombudsman service within 6 months.

I am assuming i go straight to the financial ombudsman now?

also does anyone have a link to the appropriate letter i should send please? i seem to have deleted the one i had saved.

Hiya.

Have you any further information you think you could give Lloyds, even though they confirm its final, if you have good reasons for them to reconsider then its know they may possibly change the decision.

Now that response you received is one of the bog standard ones, what you do is work on their findings and if you believe they have not looked into your complaint properly or taken anything into consideration then I would let them know and ask if they will reconsider.
The FSA as you may know is punishing banks who have rejected genuine complaints and for not investigating them properly, if you feel yours in one of those then do speak up and tell them that, then state that if you hear nothing at all by 14 days you will then consider taking further action on your complaint.

You can also email them as long as you give them your case claim number here;
[EMAIL="customer.care.insurance@lloydstsb.co.uk"]customer.care.insurance@lloydstsb.co.uk[/EMAIL]

You can also email the Chief Executive officer (CEO) or copy any emails you send to customer care forward them onto the CEO.

Hope this helps, but always try to keep any letters in your own words, you will find people have had better success that way.

Good luck.:)

Usurper

Sadly not, When my wife and i took out the mortgage, we trusted our bank to be upfront and HONEST about the process, being told the chances of getting the mortgage would be greater if we took out the insurance. ( i remember that, as it was a shock to have to find more money each month, but we did not want to miss out on what was a perfect house for us )
Looking back i am pretty annoyed at myself for being pushed into something, but it is my word against theirs i guess. But i will NOT roll over and play dead for Lloyds or anyone. i have contacted the Financial Ombundsman via phone, and got the ball rolling.

Once this sorry matter is concluded, i feel we will be moving our finances elsewhere, as the issue of having to do this, to get back what is rightfully ours does not sit well with me at all.

Sorry i did not wait , but the attitude of the letter is frankly appalling, and they even have the date wrong, claiming i took out the protection in 2010, yet they too the 1st payment in 2003.

di3004

Usurper wrote: »

Sadly not, When my wife and i took out the mortgage, we trusted our bank to be upfront and HONEST about the process, being told the chances of getting the mortgage would be greater if we took out the insurance. ( i remember that, as it was a shock to have to find more money each month, but we did not want to miss out on what was a perfect house for us )
Looking back i am pretty annoyed at myself for being pushed into something, but it is my word against theirs i guess. But i will NOT roll over and play dead for Lloyds or anyone. i have contacted the Financial Ombundsman via phone, and got the ball rolling.

Once this sorry matter is concluded, i feel we will be moving our finances elsewhere, as the issue of having to do this, to get back what is rightfully ours does not sit well with me at all.

Sorry i did not wait , but the attitude of the letter is frankly appalling, and they even have the date wrong, claiming i took out the protection in 2010, yet they too the 1st payment in 2003.

They have a law of their own don't they?

And dates I know what you mean when they get them wrong, I made this clear to them on mine, they did apologise but still its not right, and at first they offered a goodwill, I was not having any of it, made a few points clear to them, which included the wrong dates and also pointed out to them if they had done this then I don't think they taken their time to investigate my complaint properly, even though that was the final decision, due to my letter they came back and then accepted liability.

Good luck with yours and I'm sure the FOS will put this right for you, fingers crossed.;)

Usurper

Small update.

I decided i would phone the claims department, upon doing so, i was passed around like a rubber ball until i mentioned the FSA, and i was pretty sure my case had NOT been looked into correctly, And that i would be contacting them, the Financial Ombudsman and the ceo ( thankyou for the name di3004 )
ALL of a sudden, by coincedence or maybe prompted by something i said, they are reopening it and told me to phone back next friday for a decision. I have phoned the Financial Ombudsman, and they said it is not a problem, hang fire on sending the paperwork back.

so another week of waiting, my only worry now is if they offer me anything next week, how do i know the amount i should be looking at?

all i know is i am entitled to 8% interest and my payments were for £30.05 per month, since the end of 1995 till the last payment before i cancelled in December 2008, but i not know how the interest is calculated.

Just incase they try to offer me under what i am entitled to.

thanks again for the help so far

robbedofmymoney

Usurper wrote: »

Small update.

I decided i would phone the claims department, upon doing so, i was passed around like a rubber ball until i mentioned the FSA, and i was pretty sure my case had NOT been looked into correctly, And that i would be contacting them, the Financial Ombudsman and the ceo ( thankyou for the name di3004 )
ALL of a sudden, by coincedence or maybe prompted by something i said, they are reopening it and told me to phone back next friday for a decision. I have phoned the Financial Ombudsman, and they said it is not a problem, hang fire on sending the paperwork back.

so another week of waiting, my only worry now is if they offer me anything next week, how do i know the amount i should be looking at?

all i know is i am entitled to 8% interest and my payments were for £30.05 per month, since the end of 1995 till the last payment before i cancelled in December 2008, but i not know how the interest is calculated.

Just incase they try to offer me under what i am entitled to.

thanks again for the help so far

hi,

i have made an assumption that you paid ppi from dec95 to dec2008

this means yous have made ppi payments of £30.05 for 156 months (assuming the £30.05 was the ppi element)

this being the case you should expect

156 x 30.05 = 4687.80
then the 8% simple on this would be approx £3062.00

you will then get a small rebate of the additional interest that had been charged on the ppi premium until it was removed, along with 8% on this.

lets hope they sort it our for you soon and you can get the cash back in your bank.