lloyds tsb loan from 2006 help pls!

the_sexy_witch

I am just drafting up a letter to send to Lloyds TSB for a loan I took in June 2006 for £1,500.

di3004

the_sexy_witch wrote: »

I am just drafting up a letter to send to Lloyds TSB for a loan I took in June 2006 for £1,500.

It was a Buy Now, Pay later loan for a period of 24 months (although I did pay it off earlier).

As far as I can remember i did take the loan out online and therefore I am a bit worried about sending a letter to the bank as I am worried it will be rejected.

I do have a previous medical condition which I did not disclose on the online application and did not really pay attention to the terms and conditions.



The PPI amount was £217.97 and the loan agreement term was 24 months, which actually ran from 26th June 06 until 10 Nov 2007.

I had no idea what the PPi was for and never used it.

I am just wondering if anyone can advise of the best route forward with this?


Any advice would be much appreciated

Hi there and welcome.;)

Did you use the template on this site?
You will find this on this link below with reclaiming guidelines:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

There are stage 1 and 2 templates.

Check out the reclaiming information and check-list to see if anything else occurs to you, and write all your reasons on the template letter.

They have 8 weeks in full to respond.

Another letter (stage 2 letter) maybe required if they have not resolved this in your favour on their first response.

Llloyds TSB do normally give you the opportunity to write back to them again in order for them to reconsider, if they have not resolved in your favour, you can use stage 2 template to help you if you want to, obviously again with your own reasons.

In the final letter they should give details of the financial ombudsman service (FOS) you can go to these if your not satisfied with the outcome of your complaint.

Post all letters by recorded delivery.
Good luck and post up for help when required.;)

Do you still have hold of the paperwork for this loan?

the_sexy_witch

I requested the PPI info through the loans department there and they sent the info through, I am just not sure what to put down as my main reason (I am using the MSE templates)

di3004

the_sexy_witch wrote: »

I requested the PPI info through the loans department there and they sent the info through, I am just not sure what to put down as my main reason (I am using the MSE templates)

Hi there

There are many reasons for mis selling.
You may have one or 5 reasons, if this is the case you need to apply those reasons to your template.

When I had my Lloyds TSB credit card in 2001, it was sold directly in the branch, it was a matter of sign here quickly, did not get the chance to read through the paperwork, and even when I received the policy information back it was months later, so I did not cancel the ppi within the cooling period.
However, then being slack on these matters, I assumed PPI was part of the whole finance, so if I cancelled I thought the whole lot of finance would have to be repaid.

I was sold the PPI with being an Homemaker.

You may have been already covered by your employer, or you may have a pre existing medical condition and so on, there are lots ot reasons.

Although I was not successful in reclaiming directly from Lloyds, it did go as far as the FOS, where this was resolved through them.

Please post up for help when your ready, good luck.;)

Muststopworrying

Just reading this and found it very interesting, so basically they should have given PPI as an option prior to 2007 rather than letting people believe they should have it?

Would this count for loans back to 2001 which have obviously been cleared now?

di3004

Muststopworrying wrote: »

Just reading this and found it very interesting, so basically they should have given PPI as an option prior to 2007 rather than letting people believe they should have it?

Would this count for loans back to 2001 which have obviously been cleared now?

Hi there
This have always been optional.
Its just that before Jan 2005, these were sold on a non-advised basis, where after that its advised or should be.

And yes 2001 and even earlier cases included as well.;)
Settled or active, it makes no difference at all, good luck if you have a case here and ask for help if you require this.