Lloyds PPI reclaim - victory - how far can I go?

daiwilliams

Hi Everyone,

OK then, story so far ...

I made claim for two loans mis-sold PPI which has been successful. Obviously this has been very good news for me. However, in the meantime I have been waiting for information regarding a loan previous to the other two.

I now have this information.

I am going to write to Lloyds regarding this previous loan and add it to my claim, I dont think there will be an issue with this.

However, following my three loans where I have been mis-sold PPI I was offered a Lloyds TSB refinance loan as I was really struggling with debt problems at the time. Al lot of this came from one main offender (bank charges!!!), but due to the court ruling last year I dont think this would be a candidate to raise the issue I would like to.

My issue is that following the mis-selling of PPI which looks likely to be a significant sum, I would not have required the refinance loan. I have never missed a payment on this and at the moment I feel like I am going to repaying this forever! While the repayment of the PPI would reduce this amount, I can honestly say I would rather not get that money back and LLoyds to cancel the refinance loan.

I know this may not make much sense, but this really does hang around my neck and I feel really bitter towards Lloyds for everything that has been "sold" to me.

I would appreciate any advice anyone can give me on this, but thanks to everyone who has helped me so far.

Dai

di3004

daiwilliams wrote: »

Hi Everyone,

OK then, story so far ...

I made claim for two loans mis-sold PPI which has been successful. Obviously this has been very good news for me. However, in the meantime I have been waiting for information regarding a loan previous to the other two.

I now have this information.

I am going to write to Lloyds regarding this previous loan and add it to my claim, I dont think there will be an issue with this.

However, following my three loans where I have been mis-sold PPI I was offered a Lloyds TSB refinance loan as I was really struggling with debt problems at the time. Al lot of this came from one main offender (bank charges!!!), but due to the court ruling last year I dont think this would be a candidate to raise the issue I would like to.

My issue is that following the mis-selling of PPI which looks likely to be a significant sum, I would not have required the refinance loan. I have never missed a payment on this and at the moment I feel like I am going to repaying this forever! While the repayment of the PPI would reduce this amount, I can honestly say I would rather not get that money back and LLoyds to cancel the refinance loan.

I know this may not make much sense, but this really does hang around my neck and I feel really bitter towards Lloyds for everything that has been "sold" to me.

I would appreciate any advice anyone can give me on this, but thanks to everyone who has helped me so far.

Dai

Hi Dai

Well you have done well so far, well done to you on the others :beer:.

If you have the same reason for this loan PPI, then you do have a good chance on reclaiming on this as well.
Sometimes if the account is still running, (and in arrears) which your not, they then tend to refund the PPI into that account.

But if not then you should request to have this refunded directly to you.

We have a few with Lloyds as well, been successful on the credit cards PPI, although my hubby is still waiting for his payout, and with a few of the loan PPI's this is still ongoing with Lloyds, they have messed up here and we have had to write to them again.

I would give it a go anyway and maybe with what you will be awarded, will help to reduce the current loan, with you dealing with this, but yet make sure the PPI is also removed (which should be the PPI of what is owed to you), plus interest, also 8% interest of what your entitled to because you have been deprived of your money, and this is what a court would award due to this reason.

So basically the loan amount of what is owed should be reduced, and with what you have back, although its your choice may help to reduce the remainder if not all of the loan, with hopefully something left for you also.;)

Good luck.

daiwilliams

Thanks Di,

The loan I am concerned about does not have any PPI, however with the mis-selling of PPI on the previous loans, and the amount of money paid on this loan now, I am just wondering if I have a case that this loan should not have been sold to me. Theres no harm in asking! The loan was sold to consolidate debt on my current account, loan and credit card.

At the end of the day, theres nothing to lose now. The longer it drags on the more interest I get back I suppose and im not going to stop paying that loan so either way the debt will reduce, by how much we will wait and see!

Thanks,

Dai

di3004

daiwilliams wrote: »

Thanks Di,

The loan I am concerned about does not have any PPI, however with the mis-selling of PPI on the previous loans, and the amount of money paid on this loan now, I am just wondering if I have a case that this loan should not have been sold to me. Theres no harm in asking! The loan was sold to consolidate debt on my current account, loan and credit card.

At the end of the day, theres nothing to lose now. The longer it drags on the more interest I get back I suppose and im not going to stop paying that loan so either way the debt will reduce, by how much we will wait and see!

Thanks,

Dai

Hi Dai

Arh I see........I mis read on your post sorry......:o;).


I know what your saying, but do not know how this would work, but hopefully someone will post up with some information/advice for you, good luck.;)