Won Lloyds/TSB PPI......

Rsvrbloke

Just opened a letter from the bank & they say.....'unfortunately as your loan is still open, it is standard procedure to credit any refund back into the laon account as stated on the acceptance slip'......lots of love & kisses, Lloyds/TSB!

di3004

Rsvrbloke wrote: »

I took out the agreement in 2007 & moved in Nov 2008! They have use the correct address on the actual loan (as this is a copy of the agreement) BUT, they have used my present address in their 'proof' of the terms & conditions of the insurance. Only no-one has signed those conditions where it states......name & signature of advisor!!

That does seem strange doesn't it?
Why don't you give the Information Commissioners Office (ICO) a ring about this, as this does not seem right, they should be able to advise you on this matter as they deal with these issues all the time in regards of data.;)
https://www.ico.gov.uk/Global/contact_us.aspx

If you do contact them, please let us know what they say, they are normally really nice people within the ICO.

di3004

Rsvrbloke wrote: »

Just opened a letter from the bank & they say.....'unfortunately as your loan is still open, it is standard procedure to credit any refund back into the laon account as stated on the acceptance slip'......lots of love & kisses, Lloyds/TSB!

"lol, lots of love and kisses"......:rotfl::D.

Usually if there are any arrears they do it this way if the account is still running, but other than that, you can request that they refund this directly to you.
If they don't do this on your request then you can complain to the Financial ombudsman service (FOS).

Rsvrbloke

Di, just got off the phone to them! Very helpful as you say...BUT, there is nothing that they can do so they passed me onto the OFT. So I called them but they are busy, took my details & will call me back!I have looked at the Lloyds 'acceptance slip' & found nothing relating to refunds etc. Doesn't even say it on the loan agreement itself!!

Feels like I'm going round & round in circles & Lloyds are doing nothing! Arrrrr!

di3004

Rsvrbloke wrote: »

Di, just got off the phone to them! Very helpful as you say...BUT, there is nothing that they can do so they passed me onto the OFT. So I called them but they are busy, took my details & will call me back!I have looked at the Lloyds 'acceptance slip' & found nothing relating to refunds etc. Doesn't even say it on the loan agreement itself!!

Feels like I'm going round & round in circles & Lloyds are doing nothing! Arrrrr!

Hi hun

Well lets hope the OFT gets back to you soon on this and sort something out, good luck.


I would ring lloyds as well, if you want this money refunded back to you (if no arrears) tell them you want this paid directly to you.;)

Rsvrbloke

Di, just spoken to Lloyds & they are adamant in their desision that they will NOT put the money into my account & if I have an issue with this then go to the FOS!

Really annoyed now! This is how they treat their customers? Bankers!!!

All the best & thanks again.......

Hope you have a peaceful & great Christmas.............

di3004

Rsvrbloke wrote: »

Di, just spoken to Lloyds & they are adamant in their desision that they will NOT put the money into my account & if I have an issue with this then go to the FOS!

Really annoyed now! This is how they treat their customers? Bankers!!!

All the best & thanks again.......

Hope you have a peaceful & great Christmas.............

I am so sorry to hear that.
That is what annoys me with these, its your money and you have been out of pocket because of this...........:mad:.

Yes the FOS, its understandable if there are any arrears but I think you have the right to ask otherwise, good luck.;)

marshallka

Rsvrbloke wrote: »

Di, just spoken to Lloyds & they are adamant in their desision that they will NOT put the money into my account & if I have an issue with this then go to the FOS!

Really annoyed now! This is how they treat their customers? Bankers!!!

All the best & thanks again.......

Hope you have a peaceful & great Christmas.............

They won't put the money in the bank as they are not addressing a misselling complaint and have just cancelled whatever is left to pay on your insurance and interest on your insurance. If you are not happy then I suggest you actually say that you want to be put back into the position as if you never had the PPI at all and 8% statutory interest as YOUR complaint was about misselling. If you win on this one (although it may have to go to FOS) then you would get back whatever you have paid towards the PPI and interest on the PPI so far and 8% statutory interest and then whatever is left owing on the loan for the PPI is taken from your loan balance and the loan balance and repayments reduced to reflect this. If you choose to accept the above of cancelling the policy then they will not repay this to you as its actually money that WOULD be due on the PPI to the end of the loan term and not money that you have actually paid against the PPI.