lloyds tsb loan ppi reclaimfinal response letter

bitdaft

dont no what to do. made a complaint to tsb on 9 oct 2009 about possible misselling of ppi with my bank loan and have received the banks investigation report/final response letter .

you informed me you had to take ppi to get the loan. claim rejected.

i did not claim i had to take ppi but it was suggested to me that the application might be treated more favourably. and i had signed a document stating that i wished to be bound by the terms of the agreement.

you informed me you were self employed at point of purchase. claim rejected.

i tried to make a claim for unemployment under the policy by phone andwas told that under the terms i had to notify customs & revenue that i had involuntarily ceased trading. (this most definatly was not disscussed with /explained to me at point of sale and is the most important reason for claiming a mis sell). basically i should have read my policy booklet and cancelled my ppi if i wasnt happy with it.

i have been offered to cancel the ppi receiving a rebate of £1082.72 plus as a goodwill gesture backdating this to 9 oct giving a sum of £1925.74.(the origonal ppi cost £3165.08 plus interest making £3817.20).i am worried that if i do not accept this they may withdraw this. any advice greatly appreciated.

di3004

bitdaft wrote: »

dont no what to do. made a complaint to tsb on 9 oct 2009 about possible misselling of ppi with my bank loan and have received the banks investigation report/final response letter .

you informed me you had to take ppi to get the loan. claim rejected.

i did not claim i had to take ppi but it was suggested to me that the application might be treated more favourably. and i had signed a document stating that i wished to be bound by the terms of the agreement.

you informed me you were self employed at point of purchase. claim rejected.

i tried to make a claim for unemployment under the policy by phone andwas told that under the terms i had to notify customs & revenue that i had involuntarily ceased trading. (this most definatly was not disscussed with /explained to me at point of sale and is the most important reason for claiming a mis sell). basically i should have read my policy booklet and cancelled my ppi if i wasnt happy with it.

i have been offered to cancel the ppi receiving a rebate of £1082.72 plus as a goodwill gesture backdating this to 9 oct giving a sum of £1925.74.(the origonal ppi cost £3165.08 plus interest making £3817.20).i am worried that if i do not accept this they may withdraw this. any advice greatly appreciated.

Hello and welcome.

Hopefully you will receive some suggestions and opinions from other posters as well, but if your not happy with their response, you can try by writing back to them to tell them this and for them to reconsider this, if they don't you always have the financial ombudsman service (FOS).

Ask them as well to post you a detailed full written breakdown in order for you to decide on this.;)

Please keep us posted, and hope you will receive some further help on this shortly.

marshallka

bitdaft wrote: »

dont no what to do. made a complaint to tsb on 9 oct 2009 about possible misselling of ppi with my bank loan and have received the banks investigation report/final response letter .

you informed me you had to take ppi to get the loan. claim rejected.

i did not claim i had to take ppi but it was suggested to me that the application might be treated more favourably. and i had signed a document stating that i wished to be bound by the terms of the agreement.

you informed me you were self employed at point of purchase. claim rejected.

i tried to make a claim for unemployment under the policy by phone andwas told that under the terms i had to notify customs & revenue that i had involuntarily ceased trading. (this most definatly was not disscussed with /explained to me at point of sale and is the most important reason for claiming a mis sell). basically i should have read my policy booklet and cancelled my ppi if i wasnt happy with it.

i have been offered to cancel the ppi receiving a rebate of £1082.72 plus as a goodwill gesture backdating this to 9 oct giving a sum of £1925.74.(the origonal ppi cost £3165.08 plus interest making £3817.20).i am worried that if i do not accept this they may withdraw this. any advice greatly appreciated.

I have seen another case just like this one this morning. If you are not happy with it and want to be put back into the position as if you never had the PPI (misselling) then perhaps it may have to go to FOS if they do not agree with another letter to them reiterating the complaint. They have only cancelled the PPI for you and sometimes if the loans are ongoing they pay this amount back to the loan also from what someone posted on here today. It is your choice and you have to remember that the waiting list for FOS is a long time but personally if I felt strongly it was missold to me then I would chance it. It is your call though.

Good luck