Offer from LTSB

rmd_2

I have today received an offer letter from LTSB saying that they propose to a) calcualte a refund of the PPI monthly payments that you have paid to date and b) calcualte simple interest at 8% per annum on each of the PPI monthly payments.

The wording is a bit iffy as it does not categorically state that they will pay the whole amount of PPI that I have paid to date - just that they will pay 8% simple interest.

It also says that if my loan is currently in arrears, they will use the payment to pay the arrears. I have not missed a single payment on the loan, however still owe a bit on it. Does this mean that they will use the payment to pay back what is left of the loan, or just pay back what payments I would have missed, if I had missed any.

Their offer looks good on the face of it, but reading into it, I am a bit worried that I will end up with just the interest amount on the PPI that I have paid to date, rather than the whole lot.

Any help gratefully appreciated.

di3004

rmd wrote: »

I have today received an offer letter from LTSB saying that they propose to a) calcualte a refund of the PPI monthly payments that you have paid to date and b) calcualte simple interest at 8% per annum on each of the PPI monthly payments.

The wording is a bit iffy as it does not categorically state that they will pay the whole amount of PPI that I have paid to date - just that they will pay 8% simple interest.

It also says that if my loan is currently in arrears, they will use the payment to pay the arrears. I have not missed a single payment on the loan, however still owe a bit on it. Does this mean that they will use the payment to pay back what is left of the loan, or just pay back what payments I would have missed, if I had missed any.

Their offer looks good on the face of it, but reading into it, I am a bit worried that I will end up with just the interest amount on the PPI that I have paid to date, rather than the whole lot.

Any help gratefully appreciated.

Hello there.

First of all well done.:beer:

I would though make sure on the offer by contacting them, tell them your confused on what is actually being refunded to you, so that they can rectify this with you.

If you no arrears, then I believe it should be refunded directly to you.
Even if there is a balance, there is no actual arrears, so I think it means then it is paid directly to you.;)

rmd_2

Cheers for that, I will give them a call tomorrow to see what they say

di3004

rmd wrote: »

Cheers for that, I will give them a call tomorrow to see what they say

With pleasure.;)
Good luck.:beer:

rmd_2

I called them yesterday - they acknowledged that the wording was a bit vague, however it is the full amount plus interest - nearly £2500! They are going to send a new letter with all the figures on it so I know what I am signing for.

sharon666

rmd wrote: »

I have today received an offer letter from LTSB saying that they propose to a) calcualte a refund of the PPI monthly payments that you have paid to date and b) calcualte simple interest at 8% per annum on each of the PPI monthly payments.

The wording is a bit iffy as it does not categorically state that they will pay the whole amount of PPI that I have paid to date - just that they will pay 8% simple interest.

It also says that if my loan is currently in arrears, they will use the payment to pay the arrears. I have not missed a single payment on the loan, however still owe a bit on it. Does this mean that they will use the payment to pay back what is left of the loan, or just pay back what payments I would have missed, if I had missed any.

Their offer looks good on the face of it, but reading into it, I am a bit worried that I will end up with just the interest amount on the PPI that I have paid to date, rather than the whole lot.

Any help gratefully appreciated.

this is great, how did you get the lloyds bank to repy you the ppi, if you do not mind would like to know trying to get my ppi from the lloyds

di3004

rmd wrote: »

I called them yesterday - they acknowledged that the wording was a bit vague, however it is the full amount plus interest - nearly £2500! They are going to send a new letter with all the figures on it so I know what I am signing for.

Fantastic, well done to you.:T:beer::T

di3004

sharon666 wrote: »

this is great, how did you get the lloyds bank to repy you the ppi, if you do not mind would like to know trying to get my ppi from the lloyds

Hi Sharon;)

How far have you gone with your PPI reclaim with Lloyds?

Have you started the reclaiming yet?

sharon666

Hi di

yes its with the fos now, posted today, 30/11/09 A THEAD PLEASE READ WHEN YOU CAN,...a letter i got FROM the fos, have you had a letter like this, is it the nomal letter everyone gets in the begin? Any posts welcome, thanks
sharon666

di3004

sharon666 wrote: »

Hi di

yes its with the fos now, posted today, 30/11/09 A THEAD PLEASE READ WHEN YOU CAN,...a letter i got FROM the fos, have you had a letter like this, is it the nomal letter everyone gets in the begin? Any posts welcome, thanks
sharon666

Cheers Sharon, and yeah just read it now as you know lol........:D:j

Di
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