The Lloyds "Disappreciation" thread

Redvixen

Hi

Just to add my experience, Its a bit long

I have a current loan with Lloyds that I actually took out 6 months before a well funded studentship ended and insisted on no PPI as I knew they wouldn't pay and the salesguy BEGRUDGINGLY agreed - so begrudging that a couple of months later when I scrutinised the documents I found it had been added anyway. When I finally went to talk to someone about this the studentship had ended and I was working on a temporary basis and was told at that point that as I have been paying it for over 6 months it would be honored (lies of course but I tend to assume people are as honest as I am) So when three years later I needed to claim - guess what - they wouldn't pay because I was a temp. In fact the sales guy should never had sold a 7 year loan to someone who was saying they wanted to reduce their monthly outgoings because they knew they would probably be taking a pay cut in six months but wasn't actually sure as I had no idea what I would be doing after this point

So I start the process after being one of the case studies for PPI the programme. I am claiming for the current loan but also three previous ones as I was told at the time that these loans were set up that the PPI was compulsory. These are all a series of refinanced loans.

I can not begin to describe the level of incompetence that the replies to my initial letters showed. They blatantly ignored everything I said and just copied and pasted standard paragraphs in that they thought sort of fitted.

I then SARed their compliance team (abit sharper than the rest of Lloyds) and found that the guy who sold me the last loan had lied on my contact record - he claimed I was earning a salary which had been proved by statements - the statements showed a quartely bursary and a small weekly income NOT A SALARY. he claimed that I had said I wanted PPI as I only had 1 months sick pay - research students don't get sick pay if we are off for a month we are off for a month there is rarely any comeback you catch up when you can, I never claimed this. He also claimed that he has sent out the PPI policy document a week after the loan went in - I never got it but more worrying is that despite the fact that I had clearly said no PPI it was now clear that during the whole of the sales session he had only quoted repayments including PPI so when they started to go out I did now initially question them

I sent a reply off basically expressing my disgusted at their response and so the cycle started again - next reply was equally as pathetic

So I called the FOS to log the complaint. Collated copies of all letter between myself and Lloyds regarding this. I also sent of a copy of my Student status letter AND copies of the bank statements that the sales guy had claimed showed a salary

I sent off an annotated copy of my contact records where I added notes to the false entries.

I also sent of copies of the loan statements they sent me plus a copy of a loan document hat they claimed they didn't have despite the fact that it had ended less than six years ago and according to money laundering regulations they should still have it (I am sure that ther failure to locate this particular document has nothing to do with the fact that when i worked out the percentages on the different elements of the loan the APR on the repayments for the cash element worked out at over 80%)

Receipt of the above was acknowledged and within a month I got letter back saying that Lloyds still maintained their original position but were going to make the repayments on a goodwill basis.

I have accepted this and there is another 8 weeks or so to go before they are supposed to pay me and it will clear all of my debt with LloydsTSB

I am debating whether there is any mileage in making another claim as it could be argued that the saleguy committed deliberate misrepresentation by lying to enrich his own pocket with the comission he would have earnt from this

di3004

wannabedebtfree2010 wrote: »

Hi Di3004
Thanks for the reply, After spending hours looking through mountains of paperwork I have been unable to find the details of the 2 previous loans.This being due to a couple of house moves I must have miss placed them. Currently I only have paperwork for the loan that is still outstanding. I know we paid PPI on the 2 old ones as this was never fully explianed and being young and stupid we didnt know better but I do have the account numbers on my old bank statements. Do you suggest I send the letter first requesting a copy of the loan agreements etc before I put in Claim Letter 1? Also do you know where I send the paperwork too for this?
I will use the templates that are on this website and fill out my details but just not sure if I need a copy of the agreements before I set the ball rolling.
Thanks again for your help.

Your welcome.;)

If you want to request for the rest of your agreements, you could just write to them to request these, they should only take 12 days to arrive through the post, but there is a charge of £1 per true copy of your CCA (Agreement). This is payable in postal order or cheque payment.
Post by recorded delivery.
Give them as many details as possible to help them track down your agreements, if you remember the years you taken them out, and write the addresses as well and your date of birth, also any change of surname.

However, another way is to request for a SAR (Subject access request), they have 40 days to comply and send everything as requested on the SAR, the cost of this is £10 cheque or postal order payment.
Again post by recorded delivery.
For the SAR letter template here:
http://forums.moneysavingexpert.com/showthread.html?t=1475553

The address thread here:
http://forums.moneysavingexpert.com/showthread.html?t=1619943

You will possibly require an account number for your SAR requests, but if you bank with them use your bank account number, this will cover it all.

If you were mis sold on all the loan on the PPI, I would try to keep it all on one letter, especially if you have the same reasons for them all of how this was mis sold to you, then write down all the account numbers for each loan on that one letter.

However, you can do this separately if you want to, either way it does not matter, it will just be a matter of paying that little more on posting that's all.

Hope this helps you hun, good luck and let us know if you need further help.;)

di3004

Redvixen wrote: »

Hi

Just to add my experience, Its a bit long

I have a current loan with Lloyds that I actually took out 6 months before a well funded studentship ended and insisted on no PPI as I knew they wouldn't pay and the salesguy BEGRUDGINGLY agreed - so begrudging that a couple of months later when I scrutinised the documents I found it had been added anyway. When I finally went to talk to someone about this the studentship had ended and I was working on a temporary basis and was told at that point that as I have been paying it for over 6 months it would be honored (lies of course but I tend to assume people are as honest as I am) So when three years later I needed to claim - guess what - they wouldn't pay because I was a temp. In fact the sales guy should never had sold a 7 year loan to someone who was saying they wanted to reduce their monthly outgoings because they knew they would probably be taking a pay cut in six months but wasn't actually sure as I had no idea what I would be doing after this point

So I start the process after being one of the case studies for PPI the programme. I am claiming for the current loan but also three previous ones as I was told at the time that these loans were set up that the PPI was compulsory. These are all a series of refinanced loans.

I can not begin to describe the level of incompetence that the replies to my initial letters showed. They blatantly ignored everything I said and just copied and pasted standard paragraphs in that they thought sort of fitted.

I then SARed their compliance team (abit sharper than the rest of Lloyds) and found that the guy who sold me the last loan had lied on my contact record - he claimed I was earning a salary which had been proved by statements - the statements showed a quartely bursary and a small weekly income NOT A SALARY. he claimed that I had said I wanted PPI as I only had 1 months sick pay - research students don't get sick pay if we are off for a month we are off for a month there is rarely any comeback you catch up when you can, I never claimed this. He also claimed that he has sent out the PPI policy document a week after the loan went in - I never got it but more worrying is that despite the fact that I had clearly said no PPI it was now clear that during the whole of the sales session he had only quoted repayments including PPI so when they started to go out I did now initially question them

I sent a reply off basically expressing my disgusted at their response and so the cycle started again - next reply was equally as pathetic

So I called the FOS to log the complaint. Collated copies of all letter between myself and Lloyds regarding this. I also sent of a copy of my Student status letter AND copies of the bank statements that the sales guy had claimed showed a salary

I sent off an annotated copy of my contact records where I added notes to the false entries.

I also sent of copies of the loan statements they sent me plus a copy of a loan document hat they claimed they didn't have despite the fact that it had ended less than six years ago and according to money laundering regulations they should still have it (I am sure that ther failure to locate this particular document has nothing to do with the fact that when i worked out the percentages on the different elements of the loan the APR on the repayments for the cash element worked out at over 80%)

Receipt of the above was acknowledged and within a month I got letter back saying that Lloyds still maintained their original position but were going to make the repayments on a goodwill basis.

I have accepted this and there is another 8 weeks or so to go before they are supposed to pay me and it will clear all of my debt with LloydsTSB

I am debating whether there is any mileage in making another claim as it could be argued that the saleguy committed deliberate misrepresentation by lying to enrich his own pocket with the comission he would have earnt from this

Hello there

Good luck with this.;)

This is Lloyds all over and if I were you I would go for it in regards of making another claim, afterall it's your money and you have been out of pocket due to this.
The FOS should back you on this as well.

Fingers crossed X

Joec

hello all.

Firstly my appologies for bringing up an old post....

Secondly, i am "RisingJoe" (lost my password, and my email address so no way to log in ...)

Thirdly.

I eventually recieved atotal of almost £3k from Lloyds in PPI, without the ombudsman getting involved (for my load)

However i am still waiting for news on my CC reclaim, which seems ot have taken longer. The FO's adjudicator have passed in my favour, so i am now waiting to see if lloyds will pay up... if they dont then it goes right upto an Ombudsman, who will make a final decision.

Im really hoping that they will just pay up without that, as theres a lot of bad press about the TSB at the moment, and it would save all the stress and torment.

Anyway...

Hello to the oldies who may remember Rising joe

I hadnt died... just lost my memory.

Maverick_nc1

Dear All,
Be grateful that you have the FOS to adjudicate in these matters. LLoyds TSB have unsurprisingly said 'no' to my complaints, however being that I live in Guernsey and Black Horse also has a registered office here, the FOS has no jurisdiction over them whatosever. We have no Ombudsman service at all, only a Financial Services Commission whose powers are pretty non-existent. I am probably up the proverbial creek....

di3004

Joec wrote: »

hello all.

Firstly my appologies for bringing up an old post....

Secondly, i am "RisingJoe" (lost my password, and my email address so no way to log in ...)

Thirdly.

I eventually recieved atotal of almost £3k from Lloyds in PPI, without the ombudsman getting involved (for my load)

However i am still waiting for news on my CC reclaim, which seems ot have taken longer. The FO's adjudicator have passed in my favour, so i am now waiting to see if lloyds will pay up... if they dont then it goes right upto an Ombudsman, who will make a final decision.

Im really hoping that they will just pay up without that, as theres a lot of bad press about the TSB at the moment, and it would save all the stress and torment.

Anyway...

Hello to the oldies who may remember Rising joe

I hadnt died... just lost my memory.

Hi there

WOW and welcome back LOL :j, did wonder where you got to.
Glad your okay though.;)

Well done on your success.:beer:

Hope you hear soon of the CC reclaim, good luck.

Redvixen

Just an long overdue update on mine

I got a bigger cheque than I expected as I hadn't taken into account over payments on the old loans and rolled them forwards

The letter detailing the calculations included a line which said (not quite word for word)

I have recalculated the new settlement figure on your loan and have CREDITED YOU with £XK

Now you would think that if they had to credit me to settle the loan that they would realise that the debt no longer exists

I now have DCA number 2 threatening court action since the start of the year asking for the full ammount hat was outstanding before all this happened

lloyds - gotta love 'em eh?

di3004

Redvixen wrote: »

Just an long overdue update on mine

I got a bigger cheque than I expected as I hadn't taken into account over payments on the old loans and rolled them forwards

The letter detailing the calculations included a line which said (not quite word for word)

I have recalculated the new settlement figure on your loan and have CREDITED YOU with £XK

Now you would think that if they had to credit me to settle the loan that they would realise that the debt no longer exists

I now have DCA number 2 threatening court action since the start of the year asking for the full ammount hat was outstanding before all this happened

lloyds - gotta love 'em eh?

Hello there

That is fab:T well done to you and Congratulations.:beer:

Redvixen

Thanks we I was a week off the court date for my mother's morgage lender to reposess the house (its the estates only assest) when the cheque cleared - close timing but welcome

di3004

Redvixen wrote: »

Thanks we I was a week off the court date for my mother's morgage lender to reposess the house (its the estates only assest) when the cheque cleared - close timing but welcome

That was close then:eek:, thank goodness it all worked out in the end.
Well done!:beer: