newbie would like advice on reclaiming!

mk1gtial

hello,

I have currenytly a loan with lloyds tsb which started in 2003 and which has been re-financed every couple of years... pay off overdraft etc.. So have ultimatley had about four loans with them and have allways had ppi, i never realised this was optional and never advised that i maybe did'nt actually need it.. therfore i would like to reclaim! Do i have a case and are they likley to pay me back all thye ppi i have paid in the last six years? also would i have to send a letter for every loan ive re-finaced or jus one giving dates? who do i send the letter to? the branch where i took my first loan or the branch in wich i currently go to? Also can i cancel my policy now as my loan runs for another two years.. and i would rather not be paying an extra £40 a month for something i do not need.

not great with jargon financial stuff so would be great to hear from someone who can point me in the right direction!

Cheers.

di3004

mk1gtial wrote: »

hello,

I have currenytly a loan with lloyds tsb which started in 2003 and which has been re-financed every couple of years... pay off overdraft etc.. So have ultimatley had about four loans with them and have allways had ppi, i never realised this was optional and never advised that i maybe did'nt actually need it.. therfore i would like to reclaim! Do i have a case and are they likley to pay me back all thye ppi i have paid in the last six years? also would i have to send a letter for every loan ive re-finaced or jus one giving dates? who do i send the letter to? the branch where i took my first loan or the branch in wich i currently go to? Also can i cancel my policy now as my loan runs for another two years.. and i would rather not be paying an extra £40 a month for something i do not need.

not great with jargon financial stuff so would be great to hear from someone who can point me in the right direction!

Cheers.

Hello and welcome.;)

If you have had a few loans with lloyds then I suggest if mis sold for the same reasons is to write on the same letter to save money on posting etc but remember to write every loan account number.

If you no paperwork then I would suggest it would be a good idea to request a Subject Request Access (SAR), where they should send everything they hold on your going back as far as 5/6 years.
They have 40 days to send this info and there is a cost of £10 postal or cheque payment is required for this.
There is a letter template for the SAR here:
http://forums.moneysavingexpert.com/showthread.html?t=1475553

Post all letters by recorded delivery, this is your proof of posting.

For reclaiming, they have 8 weeks in full to respond, you need to keep at them until they either resolve in your favour, or until they issue you with the final decision which should also enclose details of the financial ombudsman service (FOS) where you can take your complaint to these if your not happy with the outcome.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
This link is the guidelines to reclaiming PPI, a check list of mis selling reasons and templates, if you require further help, please ask, good luck.;)