PPI on Loan Help

Munchie

Hi

My dad took out a loan with LLoyds TSB that included PPI.

I sent the bank a letter asking for the premiums back as my dad said the bank were quite pushy and implied that he wouldn't get the loan without the PPI. He also wasn't told he could "shop" elsewhere for the equivalent cover but cheaper.

The bank sent a letter back saying he wasn't entitled to anything back.

I sent a follow up letter and asked them to re investigate.

They replied with another letter basically saying get lost. I asked for a final decision letter which my dad has never received.

So I contacted the FO with all the information and they confirmed that they had sent the bank a letter (I don't have a copy of what they sent) to look into the matter again.

My dad has now received a letter from the bank enclosing the agreement he signed when he took the loan out and that by providing these documents they have satisfied their obligation and that they will not enter into any further correspondence regarding provision of copy agreements

It also goes on to say that consumers should be careful about making claims and using the services of a debt management company.

Can anyone suggest what I should do now?

di3004

Munchie wrote: »

Hi

My dad took out a loan with LLoyds TSB that included PPI.

I sent the bank a letter asking for the premiums back as my dad said the bank were quite pushy and implied that he wouldn't get the loan without the PPI. He also wasn't told he could "shop" elsewhere for the equivalent cover but cheaper.

The bank sent a letter back saying he wasn't entitled to anything back.

I sent a follow up letter and asked them to re investigate.

They replied with another letter basically saying get lost. I asked for a final decision letter which my dad has never received.

So I contacted the FO with all the information and they confirmed that they had sent the bank a letter (I don't have a copy of what they sent) to look into the matter again.

My dad has now received a letter from the bank enclosing the agreement he signed when he took the loan out and that by providing these documents they have satisfied their obligation and that they will not enter into any further correspondence regarding provision of copy agreements

It also goes on to say that consumers should be careful about making claims and using the services of a debt management company.

Can anyone suggest what I should do now?

Hi there
A standard fob off response by Lloyds, been there and lots of other on here as well.
But do not worry, even though it may take a little while with the FOS, I'm sure they will sort this one out for your dad.;)

Even if your dad signed the agreement, he still has his reasons, as they did tell him it was more or less the condition of the loan and being accepted for a loan.

I would now if you not done this get a complaints form filled in and enclose a copy of the letter send from the bank, you can download the form from the FOS website, or ring them to send one through the post.
http://www.financial-ombudsman.org.uk/consumer/complaints.htm


I'm sure your dad will be okay now.
And good one for helping him.:T

Please keep us posted, good luck.

Munchie

Hi

I have filled one of the complaint forms in and sent it to the FO.

I got a letter from the FO saying that they had written to the bank to look into the matter however, the bank had just sent him another copy of the loan agreement.

Should I tell the FO what the bank have sent, or should I write to the bank again?

marshallka

Munchie wrote: »

Hi

I have filled one of the complaint forms in and sent it to the FO.

I got a letter from the FO saying that they had written to the bank to look into the matter however, the bank had just sent him another copy of the loan agreement.

Should I tell the FO what the bank have sent, or should I write to the bank again?

Hi munchie, I would just inform the FOS that you have received another copy of the agreement from the bank and just leave it to FOS to investigate it for you now. It does not mean that you have not got any chance of reclaiming just because you signed. There were lots of other rules they should have followed so all is not lost yet. Its just the bank trying to scare you into not reclaiming.;)

Good luck

Munchie

Thanks both for your advice, I will get back in touch with the FO and ask them to sort the bank out.

marshallka

Munchie wrote: »

Thanks both for your advice, I will get back in touch with the FO and ask them to sort the bank out.

Good luck and let us know how you get on.;)

di3004

Fingers crossed for you Munchie.;)

marshallka

Munchie wrote: »

Thanks both for your advice, I will get back in touch with the FO and ask them to sort the bank out.

You're welcome. Let us know how you get on.;)