Lloyds Tsb PPi Claim

Afcman

Hi guys and gals,
I'm helping my brother with his ppi claim against lloyds tsb,we have filled out the first letter from the site and have received two letters back so far:
The first letter just said it was being forwarded to the correct department.
The Second letter sates that they have recived his complaint that he is unhappy etc and it is being investigated. It also offers him the chance to cancel his policy by popping into a branch or phoning themselves.What we would like to know is would this be a wise choice to do? and would it compromise his case if he was to do so.? any helps or advice would be greatly appreciated..Rob

melorablack

It shouldn't compromise his case to cancel the insurance and if he does it now he is potentially saving himself quite a bit of money, especially since I have heard that Lloyds are pretty tough to get PPI back from. If the worst comes to the worst and your complaint is declined, the sooner the insruance was cancelled the better. Good luck with your claim.

Afcman

yeah i have heard they can be a bit of [EMAIL="B@tch, They"]B@tch, They[/EMAIL] basically harranged him at work by phone to take the ppi and told him they he would not get the loan if he didn't take it,he's not to clued up on rates etc and as it was meant to be to cut his payments from ccards 25-30% apr they stung him for 19.99% on the loan and 19.99% on ppi insurance to,so he would have probably been cheaper to stick with his cards,but they gave him the hard sell.!! absoloute b-stards just after a sell..Rob

RisingJoe

Take a look at the thread in my Sig (its Lloyds Specific.)

i still working on my CC PPI, but people are being paid out on Loans.

Cheers

Afcman

cool thanks joe,so he should cancell his ppi and pursue his refund after that then? many thanks for the replys guys..ron

RisingJoe

Cancel the policy first, this will immediately reduce payments, and then set about reclaiming the Lost PPI money.

make sure you remember the date you cancel it, for any future letters

i cancelled mine when i was sent this letter

Afcman

Hi risingjoe and others just a update my brother was advised by lloyds to not cancell his policy but has now received a letter at 8 weeks stating:
That they are not in position to give him a final response and apoligising for the delay saying that they will give it him shortly.!!! and if he's unhappy he can complain to the ombudsman. so what im asking is should we go to stage 2 and contact the ombudsman or give them a few weeks to respond.?
Cheers rob

di3004

Afcman wrote: »

Hi risingjoe and others just a update my brother was advised by lloyds to not cancell his policy but has now received a letter at 8 weeks stating:
That they are not in position to give him a final response and apoligising for the delay saying that they will give it him shortly.!!! and if he's unhappy he can complain to the ombudsman. so what im asking is should we go to stage 2 and contact the ombudsman or give them a few weeks to respond.?
Cheers rob

Hi Rob

As long as the 8 weeks have passed then your brother can still continue to take his complaint to the FOS if he wants to.;)

If he wants to he can download a form from the FOS website here:

http://www.financial-ombudsman.org.uk/consumer/complaints.htm

Once completed send a copy off to Lloyds TSB as well, to make them aware that he have taken the complaint to the FOS.
They may act quicker, if they know this.

If they do then respond in your brother's favour, all he has to do is let the FOS know, otherwise keep the complaint in with them.

It is now entirely up to you brother, just as long as the 8 weeks have passed.
Good luck to him, and please keep us posted. Cheers.

Afcman

a very belated bump for this post everyone lloyds finally gave him a refund of just under £4,000 a big thankyou to everyone and martin for his templates, i even got a beer out of my brother for this lol just the one

crushed00

melorablack wrote: »

It shouldn't compromise his case to cancel the insurance and if he does it now he is potentially saving himself quite a bit of money, especially since I have heard that Lloyds are pretty tough to get PPI back from. If the worst comes to the worst and your complaint is declined, the sooner the insruance was cancelled the better. Good luck with your claim.

I would be careful there because I canceled my PPI expecting my payments to drop the hundred quid a month it was costing me, but they only dropped by about 37 per month I was gutted....

amersall

Afcman wrote: »

a very belated bump for this post everyone lloyds finally gave him a refund of just under £4,000 a big thankyou to everyone and martin for his templates, i even got a beer out of my brother for this lol just the one

Thank you for the update well done :j