Could someone help me with a Lloyds Tsb loan PPI please

darrenk_3

like i say mate im in the same boat,the banks are very good at selling you these without you knowing any different.i would get your letter sent out marshy cos you werent told the policy was optional and the fact it wasnt in your best interests.you didnt understand the policy etc.

di3004

Marshy27 I agree with Marshallka, you still have a good case here.;)

marshy27

darrenk wrote: »

like i say mate im in the same boat,the banks are very good at selling you these without you knowing any different.i would get your letter sent out marshy cos you werent told the policy was optional and the fact it wasnt in your best interests.you didnt understand the policy etc.

I was told the policy was optional though lol, well it gave me the option online. I had a choice of a loan with PPI or without PPI. I just didnt realise i could have PPI with another company therefore getting it cheaper.

I will use the best interests parth though lol.

marshallka

marshy27 wrote: »

I was told the policy was optional though lol, well it gave me the option online. I had a choice of a loan with PPI or without PPI. I just didnt realise i could have PPI with another company therefore getting it cheaper.

I will use the best interests parth though lol.

Marshy27, in all fairness all the answers you have given up to yet on here say you knew all about the policy TBH but you were confused as to their terms on cancellation. Perhaps your complaint should be about the cancelletion of the policy and not misselling and see where it goes from there. You just need to make a complaint in your own words with regards to the wording of their terms on conditions and see what reply you get.

Good luck

marshy27

marshallka wrote: »

Marshy27, in all fairness all the answers you have given up to yet on here say you knew all about the policy TBH but you were confused as to their terms on cancellation. Perhaps your complaint should be about the cancelletion of the policy and not misselling and see where it goes from there. You just need to make a complaint in your own words with regards to the wording of their terms on conditions and see what reply you get.

Good luck

To be honest in my first post i origionally was looking for a way to get them to take the full amount of PPI back off my future monthly payments. I wasnt looking to reclaim for all previous payments.

It was only when i seen that i had a good case for claiming the PPi was mis-sold to me based on me not knowing the loan had to be restructured, that i thought i might aswell claim for that.

Only after the 20 odd calls i've made to lloyds have i began to fully understand the restructuring procedure. I had no idea that loan had to be cancelled and redone to remove the PPI until just before i made this thread.

marshallka

marshy27 wrote: »

To be honest in my first post i origionally was looking for a way to get them to take the full amount of PPI back off my future monthly payments. I wasnt looking to reclaim for all previous payments.

It was only when i seen that i had a good case for claiming the PPi was mis-sold to me based on me not knowing the loan had to be restructured, that i thought i might aswell claim for that.

Only after the 20 odd calls i've made to lloyds have i began to fully understand the restructuring procedure. I had no idea that loan had to be cancelled and redone to remove the PPI until just before i made this thread.

Yeah, the loan always has to be redone to remove the PPI as the PPI is actually another loan when on the agreement (as it was just a loan to pay for a PPI policy upfront) so if you want to remove the loan that paid the PPI you would of course have to have another agreement. I don't know how they will actually look at this complaint but it still is a complaint if you did not understand all this. It may be that they repay to you the remaining PPI or ALL the PPI and take it as a missale as you should really have had this explained TBH. Make a complaint saying what you have here and see what they reply with. Good luck

marshy27

marshallka wrote: »

Yeah, the loan always has to be redone to remove the PPI as the PPI is actually another loan when on the agreement (as it was just a loan to pay for a PPI policy upfront) so if you want to remove the loan that paid the PPI you would of course have to have another agreement. I don't know how they will actually look at this complaint but it still is a complaint if you did not understand all this. It may be that they repay to you the remaining PPI or ALL the PPI and take it as a missale as you should really have had this explained TBH. Make a complaint saying what you have here and see what they reply with. Good luck

Thanks i will do. I have to speak to them as after just reading my policy documents again i've realised that im not covered for time off work or in hospital if its because of my asthma. I didnt realise that the asthma would affect it.

marshy27

Anyone know where i should send the claim letter to? Im sure i seen a list of address's on here and lloyds was one of them? Or am i seeing things :rotfl:

marshallka

marshy27 wrote: »

Anyone know where i should send the claim letter to? Im sure i seen a list of address's on here and lloyds was one of them? Or am i seeing things :rotfl:

http://forums.moneysavingexpert.com/showthread.html?t=1619943

Is this the thread marshy27;)

marshy27

Aye thats the one, thanks, you're a star