Lloyds CC PPC

sillywhenyoung_2

Hi

Sorry if this has a been asked a million time before, im quite sure it has but doing a search for PPC gives me quite a few options!

I going through the set up of my DMP and waiting for my chat with Payplan, everything else is done, token payments, new bank account etc.

Basically under the hardship act and being talked into it in the first place i have applied for Lloyds to review the payment protection on a loan i have with them, they have replied saying they are looking into it.

Going through my credit card statements now from Lloyds i see i am being charged over £70 a month for payment protection on a credit card as well, i am certain i do not remember saying i wanted this, down to my own stupidty and burying my head in the sand i have never noticed this on my statements, (they usually went straight to the bottom of the drawer!) Obviously i am a little put out now that i have been paying this for a very long time, (i havnt even used the card for 2 years so it must have been that amount for a while).

Can i put in a claim for this? i have always been under the impression from Lloyds that i had to take the cover with the loans which is why i have put a claim in, i can remember my bank manager saying when i was 18 and took my first loan you really have to take this out for your own peice of mind with this size loan and i have since always thought that this was the norm when taking out large loans.

It has always been in my head with the loan what a waste of time it is me having it, in taking loans for the last 12 years i have never been in a situation where i would have come close to using it ( i know that isnt the point and i could have been), i have had the same job for 13 years and get good cover from them for sickness and generally anything i need.

I just need to ask this here, i feel i am taking the p*ss by asking them to consider another case but at the same time am kicking myself i have never questioned it before and am now in a right mess with money.

Any advice appreciated.

di3004

sillywhenyoung wrote: »

Hi

Sorry if this has a been asked a million time before, im quite sure it has but doing a search for PPC gives me quite a few options!

I going throught the set up of my DMP and waiting for my chat with Payplan, everything else is done, token payments, new bank account etc.

Basically under the hardship act and being talked into it in the first place i have applied for Lloyds to review the payment protection on a loan i have with them, they have replied saying theya re looking into it.

Going through my credit card statements now from Lloyds i see i am being charged over £70 a month for payment protection on a credit card as well, i am certain i do not remember saying i wanted this, down to my own stupidty and burying my head in the sand i have never noticed this on my statements, (they usually went straight to the bottom of the drawer!) Obviously i am a little put out now that i have been paying this for a very long time, (i havnt even used the card for 2 years so it must have been that amout for a while).

Can i put in a claim for this? i have always been under the impression from Lloyds that i had to take the cover with the loans which is why i have put a claim in, i can remember my bank manager saying when i was 18 and took my first loan you really have to take this out for your own peice of mind with this size loan and i have since always thought that this was the norm when taking out large loans.

It has always been in my head with the loan what a waste of time it is me having it, in taking loans for the last 12 years i have never been in a situation where i would have come close to using it ( i know that isnt the point and i could have been), i have had the same job for 13 years and get good cover from them for sickness and generally anything i need.

I just need to ask this here, i feel i am taking the p*ss by asking them to consider another case but at the same time am kicking myself i have never questioned it before and am now in a right mess with money.

Any advice appreciated.

Hi there and not to worry, its always best to ask, as everyone has their own reasons.

I would write to complain and reclaim, this makes no difference if on DMP, but it may be used to help reduce any payments etc, but not certain.

There is no harm in trying, check link here:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

You will also find reclaim template letters, but add your own reasons.

They have 8 weeks to respond in full.

Another letter maybe required if they do not resolve this in the first response, where normally they give you an opportunity to write back with further information.

In the final response, they should also give details on how you can take this further, such as with the financial ombudsman service (FOS) if eligible.

Post all letters by recorded delivery, good luck and post further if you require any help.;)

sillywhenyoung_2

Thank you di3304, i will do it, really just felt a bit bad asking for something when i am now behind on payments to them, but guess it works both way, i would have cancelled it years ago had i know it was there!

Thanks

di3004

sillywhenyoung wrote: »

Thank you di3304, i will do it, really just felt a bit bad asking for something when i am now behind on payments to them, but guess it works both way, i would have cancelled it years ago had i know it was there!

Thanks

You go for it hun, I understand and don't feel bad, its just pay-back time lol.:A, Fingers crossed for you.;)X

sillywhenyoung_2

I was also was a bit panicky it would affect the claim i already have going through as this will be 2 claims with the same bank!

thank you x

di3004

sillywhenyoung wrote: »

I was also was a bit panicky it would affect the claim i already have going through as this will be 2 claims with the same bank!

thank you x

When you have some spare time, check through the threads, there are many on here who are on DMP and have made reclaims and have also been successful, I'm sure all will be fine.;)

cheesedoffwithdebt

:DYou need to mention the ppi to Payplan- I seem to remember when I set up my DMP they wrote and advised me to stop any premiums to ppi's.

I hope all works out- I've just drafted letters asking for CCA's and to the bank asking for details of charges- I used to feel awkward but because of the way creditors have behaved towards me over the past few months I care little now for their humungous bonus ridden existence.

sillywhenyoung_2

i have been reading them non stop for months!! :rotfl: they all merge into one after a while and i forget what i have read.

Its this place that has made me get off my bum and sort my life out, just so annoyed with myself for not doing it sooner or paying attention to what i was paying out on over the years, guess im not the only one and a lesson has been learnt, if it can help toward my dmp payments with them all the better.

thanks again, much appreciated.

sillywhenyoung_2

Thanks cheesedoffwithdebt, i will mention it to them when i have my chat next week, of course it would make sense to cancel them when starting the DMP (i wouldnt have even thought of that!) thank god for this place!

I know what you mean though, i fully hold my hands up to being an idiot with money but at the same time your bank manager calling you in for a review a couple of times a year because your earning ok money at a young age and saying just get that car you want etc and heres a top up to your loan, just take the protection and it will be fine (he did say that!!) is a bit naughty really. And i used to think the sun shone out of his behind and i had a great relationship with my bank manager :rolleyes:

I clearly wasnt the sharpest tool in the box at that age :embarasse thats why i cant pick up the phone to hassling creditors right now, they will talk me into all sorts.