Business Loan Repayment Insurance premium

bukko

Going through my old docs I found a loan agreement with LTSB from when I was self employed.

Is this the same as PPI?

Can I claim it back on the basis that I was self employed?

Unfortunately the only info I have on it is the cost, which was £1339.12 or £29.39 per month.

Thanks

di3004

bukko wrote: »

Going through my old docs I found a loan agreement with LTSB from when I was self employed.

Is this the same as PPI?

Can I claim it back on the basis that I was self employed?

Unfortunately the only info I have on it is the cost, which was £1339.12 or £29.39 per month.

Thanks

Hi there,
Yes you can, and yes it is that of PPI.
I don't think this would have protected you and they obviously did not check this with you on purchase, so give it a go in reclaiming.

Link here to more info, templates and a mis selling checklist:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

They have 8 weeks in full to respond, keep on at them until they resolve in your favour, or until they issue you with the final decision which should give you details of the financial ombudsman service (FOS), you can take your complaint to these if your not happy with the outcome of your complaint.

You do not need to write the figures down at this time on your letters.

I would also check on the checklist for other reasons as well to add to your letter, and post all letters by recorded delivery.

Good luck and please keep us posted.

bukko

Ok thanks I'll give it a go.
It was in June 2001, but I'll try anyway.

di3004

bukko wrote: »

Ok thanks I'll give it a go.
It was in June 2001, but I'll try anyway.

Yes go for it, mine was also 2001 with Lloyds, and I was successful, although it was resolved through the FOS, so if you do not succeed direct by the final decision then move on to the FOS. Good luck.;)

bukko

Got a letter back from LTSB Insurance today, saying that they cannot proceed without the original loan agreement number.
But the documentation I sent them - which is the actual agreement - doesn't show it and this is all I have.
Any ideas?

di3004

bukko wrote: »

Got a letter back from LTSB Insurance today, saying that they cannot proceed without the original loan agreement number.
But the documentation I sent them - which is the actual agreement - doesn't show it and this is all I have.
Any ideas?

Hi there.;)
Have you any old bank statements from when you was paying this, which should show the account number next to the monthly repayments?

So you have the agreement that does not show an account number?

bukko

I had a sole-trader account with Lloyds but it is closed now.
I no longer have any of the statements either
I rang Lloyds earlier to try to get the details, but because the business operation is now more centralised they are having trouble finding the details.
They said they'll call later.

So you have the agreement that does not show an account number?

That is exactly right.
It makes sense though I guess, as the loan won't have existed yet when the agreement was signed.

di3004

That is very odd though because the agreement should enclose the account number, but maybe its not actually what you call a true copy.

What many generally do is write to request a True copy of the CCA (agreement), enclose a £1 postal order or cheque payment, and they should supply by 12 days from requesting this.

For them to track this down, as they have no account number in order for them to find the agreement, give them as many personal details as possible, such as the year taken out, if the address were different then and any name changes, and also write your DOB.

The only other way is to request a Subject Access Request (SAR), where they must "comply" by 40 days, with a payment of £10 postal order or cheque payment.
Again post by recorded delivery, as this would be your proof of posting.

Here is the link to the SAR template letter:
http://forums.moneysavingexpert.com/showthread.html?t=1475553

Hope this helps and if they do not comply you can contact the Information Commissioners Office (ICO), they should be able to help in your case.
https://www.ico.gov.uk/Global/contact_us.aspx

bukko

Thanks.
A guy at Lloyds also suggested my credit file, as the account number might be on that also.
I'll try to work out which is the cheapest option.
I'll also go back though all my paperwork to see if I still have any more details somewhere.

di3004

bukko wrote: »

Thanks.
A guy at Lloyds also suggested my credit file, as the account number might be on that also.
I'll try to work out which is the cheapest option.
I'll also go back though all my paperwork to see if I still have any more details somewhere.

Yes your right, think its about £2, well worth it and glad you mentioned this, as it is another way.;)

Google in Equifax
Experian is another and I believe you can order details on there, and maybe receive your info there and then, good luck.;)