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what should we do now?
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judy_1
Posts: 77 Forumite
in nov 2007 my husband applied for and got a loan from lloyds tsb for £25,00.
after taking out the loan he was not asked if he wanted to take out payment protection insurance so we assumed that he had not got protection for the payments we have made all of the payments on the loan at the time of taking out the loan my husband was in his 64 year so officially only had 6 months to go until he could retire
in january this year my husbasnd was made redundant from work and being in the building industry go no redundancy pay at all.
also in january i had a stroke, my company have been excellent and continued to pay me on full pay whilst off sick.however with increased costs due to medical this month has by far been the worst for us finacially
yesterday he called lloyds tsb to ask if they would be at all sympathetic to our case, he was told that ppi was added to his loan with them so he call scotish widows the insurers, they agreed to process his claim, but siad it woul dbe to late to help with this months payment, so he would need to go back to lloyds customer supporrt to see if they would give him a payment holiday for this month.
whilst on the phone to lloyds they asked him what his income is a the moment and was they were told that he is on state pension of £145.oo per week.
Lloyds refused to help in any way and also told him tha the ppi had expired when he reached his 65 birthday in may 2008 so he would not be able to claim on the insurance that he had paid for went to citizens advice who were amazed at this as we do not have and have never been sent any policy documents to check this information, they called scotish widows who told them thta if was true the policy would only cover him until his 65 birthday. and basically this wa s tough. i think what i am trying to say is why on earth did lloyds put the ppi on the loan fi it would only last 6 months as when he applied and was given the loan he had to give his date of birth which would have shown thatt he was 64 any adivice on this will be most welcome we have called lloyds to find out how much they charged him for the ppi when they added it to the loan, but can not ge t a diffinitive answer on this
can llouyds stoop any lower than this, we will of course be filling a missing selling claim on the ppi with loyds as soon as possible
after taking out the loan he was not asked if he wanted to take out payment protection insurance so we assumed that he had not got protection for the payments we have made all of the payments on the loan at the time of taking out the loan my husband was in his 64 year so officially only had 6 months to go until he could retire
in january this year my husbasnd was made redundant from work and being in the building industry go no redundancy pay at all.
also in january i had a stroke, my company have been excellent and continued to pay me on full pay whilst off sick.however with increased costs due to medical this month has by far been the worst for us finacially
yesterday he called lloyds tsb to ask if they would be at all sympathetic to our case, he was told that ppi was added to his loan with them so he call scotish widows the insurers, they agreed to process his claim, but siad it woul dbe to late to help with this months payment, so he would need to go back to lloyds customer supporrt to see if they would give him a payment holiday for this month.
whilst on the phone to lloyds they asked him what his income is a the moment and was they were told that he is on state pension of £145.oo per week.
Lloyds refused to help in any way and also told him tha the ppi had expired when he reached his 65 birthday in may 2008 so he would not be able to claim on the insurance that he had paid for went to citizens advice who were amazed at this as we do not have and have never been sent any policy documents to check this information, they called scotish widows who told them thta if was true the policy would only cover him until his 65 birthday. and basically this wa s tough. i think what i am trying to say is why on earth did lloyds put the ppi on the loan fi it would only last 6 months as when he applied and was given the loan he had to give his date of birth which would have shown thatt he was 64 any adivice on this will be most welcome we have called lloyds to find out how much they charged him for the ppi when they added it to the loan, but can not ge t a diffinitive answer on this
can llouyds stoop any lower than this, we will of course be filling a missing selling claim on the ppi with loyds as soon as possible
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Comments
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in nov 2007 my husband applied for and got a loan from lloyds tsb for £25,00.
after taking out the loan he was not asked if he wanted to take out payment protection insurance so we assumed that he had not got protection for the payments we have made all of the payments on the loan at the time of taking out the loan my husband was in his 64 year so officially only had 6 months to go until he could retire
in january this year my husbasnd was made redundant from work and being in the building industry go no redundancy pay at all.
also in january i had a stroke, my company have been excellent and continued to pay me on full pay whilst off sick.however with increased costs due to medical this month has by far been the worst for us finacially
yesterday he called lloyds tsb to ask if they would be at all sympathetic to our case, he was told that ppi was added to his loan with them so he call scotish widows the insurers, they agreed to process his claim, but siad it woul dbe to late to help with this months payment, so he would need to go back to lloyds customer supporrt to see if they would give him a payment holiday for this month.
whilst on the phone to lloyds they asked him what his income is a the moment and was they were told that he is on state pension of £145.oo per week.
Lloyds refused to help in any way and also told him tha the ppi had expired when he reached his 65 birthday in may 2008 so he would not be able to claim on the insurance that he had paid for went to citizens advice who were amazed at this as we do not have and have never been sent any policy documents to check this information, they called scotish widows who told them thta if was true the policy would only cover him until his 65 birthday. and basically this wa s tough. i think what i am trying to say is why on earth did lloyds put the ppi on the loan fi it would only last 6 months as when he applied and was given the loan he had to give his date of birth which would have shown thatt he was 64 any adivice on this will be most welcome we have called lloyds to find out how much they charged him for the ppi when they added it to the loan, but can not ge t a diffinitive answer on this
can llouyds stoop any lower than this, we will of course be filling a missing selling claim on the ppi with loyds as soon as possible
That is blatently unprofessional. How dare they and now say you are not covered and miss selling you this insurance, You have a very firm case.
I would get your letter off to them asap hopefully they should settle this directly with you as quickly as possible because this is obviously miss sold. Good Luck to you and post back if you need any help.:D:mad:0 -
in nov 2007 my husband applied for and got a loan from lloyds tsb for £25,00.
after taking out the loan he was not asked if he wanted to take out payment protection insurance so we assumed that he had not got protection for the payments we have made all of the payments on the loan at the time of taking out the loan my husband was in his 64 year so officially only had 6 months to go until he could retire
in january this year my husbasnd was made redundant from work and being in the building industry go no redundancy pay at all.
also in january i had a stroke, my company have been excellent and continued to pay me on full pay whilst off sick.however with increased costs due to medical this month has by far been the worst for us finacially
yesterday he called lloyds tsb to ask if they would be at all sympathetic to our case, he was told that ppi was added to his loan with them so he call scotish widows the insurers, they agreed to process his claim, but siad it woul dbe to late to help with this months payment, so he would need to go back to lloyds customer supporrt to see if they would give him a payment holiday for this month.
whilst on the phone to lloyds they asked him what his income is a the moment and was they were told that he is on state pension of £145.oo per week.
Lloyds refused to help in any way and also told him tha the ppi had expired when he reached his 65 birthday in may 2008 so he would not be able to claim on the insurance that he had paid for went to citizens advice who were amazed at this as we do not have and have never been sent any policy documents to check this information, they called scotish widows who told them thta if was true the policy would only cover him until his 65 birthday. and basically this wa s tough. i think what i am trying to say is why on earth did lloyds put the ppi on the loan fi it would only last 6 months as when he applied and was given the loan he had to give his date of birth which would have shown thatt he was 64 any adivice on this will be most welcome we have called lloyds to find out how much they charged him for the ppi when they added it to the loan, but can not ge t a diffinitive answer on this
can llouyds stoop any lower than this, we will of course be filling a missing selling claim on the ppi with loyds as soon as possible
Hi there
And I agree with Maxdp, how dare they :eek: . Not being professional at all !
You do haver a good strong case hun, so get writing to them, and reclaim.
Here is a link with more info to help you through this:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
You will find some letter reclaim templates, add your own reasons, they have 8 weeks to respond in full.
If you get no response at all by those 8 weeks continue to take this to the financial ombudsman (FOS) anyway.
However, if you receive a fob off response, write back and tell them you want your case reconsidered or further action will be taken.
Keep on at them until you receive the final response, and post all letters by recorded delivery.
Yes please post up for any help if required hun, we will do our best to help you through this.;)
Good luck
Di
XThe one and only "Dizzy Di"
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result
my husband called lloyds again tonight and asked how much the ppi was costing and what the policy number was he was told that she was not allowed to tell him, he asked to raise a complaint and was put throught to a manger in the missing selling complaint team,and spoke to soemone called Dave who said that the policy had in fact been miss sold they agreed to take the remaining payments 33 time £168.57 per month off the loan agreement and they will refund the premiums paid 16 times £168.57 this money will be deducted from the loan when it is refunded i call this a good result:j0 -
result
my husband called lloyds again tonight and asked how much the ppi was costing and what the policy number was he was told that she was not allowed to tell him, he asked to raise a complaint and was put throught to a manger in the missing selling complaint team,and spoke to soemone called Dave who said that the policy had in fact been miss sold they agreed to take the remaining payments 33 time £168.57 per month off the loan agreement and they will refund the premiums paid 16 times £168.57 this money will be deducted from the loan when it is refunded i call this a good result:j
Judy this is amazing, especially as its Lloyds, well done and Congratulations
:beer: :T :beer: :T :j :j , fantastic !!!
Also ask them to send a full written breakdown of this if you want to know how they worked this out and to make sure nothing is amiss.
Again Well done !:j :beer: :T .
Di
XThe one and only "Dizzy Di"0 -
result
my husband called lloyds again tonight and asked how much the ppi was costing and what the policy number was he was told that she was not allowed to tell him, he asked to raise a complaint and was put throught to a manger in the missing selling complaint team,and spoke to soemone called Dave who said that the policy had in fact been miss sold they agreed to take the remaining payments 33 time £168.57 per month off the loan agreement and they will refund the premiums paid 16 times £168.57 this money will be deducted from the loan when it is refunded i call this a good result:j
Oh What a result well done to you I am so pleased. That is a nice amount to get back.:T:mad:0 -
in nov 2007 my husband applied for and got a loan from lloyds tsb for £25,00.
after taking out the loan he was not asked if he wanted to take out payment protection insurance so we assumed that he had not got protection for the payments we have made all of the payments on the loan at the time of taking out the loan my husband was in his 64 year so officially only had 6 months to go until he could retire
in january this year my husbasnd was made redundant from work and being in the building industry go no redundancy pay at all.
also in january i had a stroke, my company have been excellent and continued to pay me on full pay whilst off sick.however with increased costs due to medical this month has by far been the worst for us finacially
yesterday he called lloyds tsb to ask if they would be at all sympathetic to our case, he was told that ppi was added to his loan with them so he call scotish widows the insurers, they agreed to process his claim, but siad it woul dbe to late to help with this months payment, so he would need to go back to lloyds customer supporrt to see if they would give him a payment holiday for this month.
whilst on the phone to lloyds they asked him what his income is a the moment and was they were told that he is on state pension of £145.oo per week.
Lloyds refused to help in any way and also told him tha the ppi had expired when he reached his 65 birthday in may 2008 so he would not be able to claim on the insurance that he had paid for went to citizens advice who were amazed at this as we do not have and have never been sent any policy documents to check this information, they called scotish widows who told them thta if was true the policy would only cover him until his 65 birthday. and basically this wa s tough. i think what i am trying to say is why on earth did lloyds put the ppi on the loan fi it would only last 6 months as when he applied and was given the loan he had to give his date of birth which would have shown thatt he was 64 any adivice on this will be most welcome we have called lloyds to find out how much they charged him for the ppi when they added it to the loan, but can not ge t a diffinitive answer on this
can llouyds stoop any lower than this, we will of course be filling a missing selling claim on the ppi with loyds as soon as possible
Hi Judy
I will gladly assist with this one.I am a former Broker, former IFA and former compliance officer, for my sins.
However, I have since seen the light.0 -
Can you believe this in the post tsaturday arrived a letter from Scottish widows to my husband saying that he his claim for UN employment protection had been refused because he did not fall within the criteria of being under 65 and also a letter from Lloyds asking him to sign new loan papers. I appears that what they are trying to do is cancel out the old loan with a new loan. The payment protection on the old loan was £168.57 per month the old monthly payments were £582.77 per month which he has paid for the last 16 months. The new loan that they want the paper work signing for is £477.67 per month but he has already told Lloyds that he is unemployed this all sounds a bit dodgy to me and I have told him not to sign the new loan papers but to take them to citizens advice to deal with, I have quickly worked out if they removed the monthly insurance on the old loan that this would bring the monthly payments down to around £414.00 per month anyone else think this is a bit dodgy at this time I do see that he can afford these payments as his only income is state pension of £145.00 per week o r £628 per month what should he do now, I feel that Lloyds are looking after themselves they have said that they need to investigate if he can have a refund on all of the payment protection insurance for the whole loan including the monies already paid but have not yet confirmed this. Lloyds seem to go from one dodgy deal in to another; I unfortunately cannot afford to make the payments for him as I am still off work sick from my stroke. I feel that Lloyds are trying their utmost to get my husband in to serious debt. When my husband complained about the insurance he was told that they would still stand by the life cover, he then informed them that he was not able to get life cover an has been refused for this cover about 7 times because of pervious medical problems having had already 3 pulmonary embolisms a quadruple heart bypass and now being diagnosed with emphysema
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Judy it is quite normal for them to re finance the loan when you cancel PPI. May I suggest that you sit down with Citizens advice bureau and go through everything with them. I am sure they will direct you accordingly with this because you need this sorted. How they can sell cover and then ssay it will not pay out is beyond me.Can you believe this in the post tsaturday arrived a letter from Scottish widows to my husband saying that he his claim for UN employment protection had been refused because he did not fall within the criteria of being under 65 and also a letter from Lloyds asking him to sign new loan papers. I appears that what they are trying to do is cancel out the old loan with a new loan. The payment protection on the old loan was £168.57 per month the old monthly payments were £582.77 per month which he has paid for the last 16 months. The new loan that they want the paper work signing for is £477.67 per month but he has already told Lloyds that he is unemployed this all sounds a bit dodgy to me and I have told him not to sign the new loan papers but to take them to citizens advice to deal with, I have quickly worked out if they removed the monthly insurance on the old loan that this would bring the monthly payments down to around £414.00 per month anyone else think this is a bit dodgy at this time I do see that he can afford these payments as his only income is state pension of £145.00 per week o r £628 per month what should he do now, I feel that Lloyds are looking after themselves they have said that they need to investigate if he can have a refund on all of the payment protection insurance for the whole loan including the monies already paid but have not yet confirmed this. Lloyds seem to go from one dodgy deal in to another; I unfortunately cannot afford to make the payments for him as I am still off work sick from my stroke. I feel that Lloyds are trying their utmost to get my husband in to serious debt. When my husband complained about the insurance he was told that they would still stand by the life cover, he then informed them that he was not able to get life cover an has been refused for this cover about 7 times because of pervious medical problems having had already 3 pulmonary embolisms a quadruple heart bypass and now being diagnosed with emphysema
Please go and see them for some help and Good luck to you let us know how you get on.:mad:0 -
where do i find the tmeplate letters for reclaiming ppi0
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where do i find the tmeplate letters for reclaiming ppi
Hi hun
Templates on this link here:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
Read the info through as well, they have 8 weeks to respond in full, let us know how you get on so we can help you step by step, another letter maybe required if they try fobbing you off first time and post all letters by recorded delivery, good luck.;)The one and only "Dizzy Di"0
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