New and need a little help

mike-d_4

Hi guys

I have been looking into reclaiming my PPI on a loan I took out with Lloyds TSB but have no idea where to start. I am in a slightly different situation to other people that I have read on here.

I took out a loan for £3000 in 2005 and believe I was miss sold the PPI (I no longer have the relevant documentation for this loan). I also have a credit card with Lloyds TSB which was at its limit last year. The bank called me in for an appointment where they offered me another loan of £4400 to pay off both the existing loan and credit card. I agreed and am currently paying this back at a rate of £122.73 a month (over 60 months), as well as £26.50 a month for the PPI.

My question is what exactly can I claim for in this situation? Can I claim for the original loan, credit card and current loan, or just one of them? I have also been approached by a company willing to take on the claim for me but they wanted an upfront payment of £299.99 to handle 'documentation costs' They did give me their CRM number and are on the Ministry of Justice list for approved claim handlers, but this seems a bit steep to claim back the PPI. They also mentioned that the new loan may be void as there was no witness to the agreement when it was signed.

Any help would be greatly appreciated

Mike

marshallka

mike-d wrote: »

Hi guys

I have been looking into reclaiming my PPI on a loan I took out with Lloyds TSB but have no idea where to start. I am in a slightly different situation to other people that I have read on here.

I took out a loan for £3000 in 2005 and believe I was miss sold the PPI (I no longer have the relevant documentation for this loan). I also have a credit card with Lloyds TSB which was at its limit last year. The bank called me in for an appointment where they offered me another loan of £4400 to pay off both the existing loan and credit card. I agreed and am currently paying this back at a rate of £122.73 a month (over 60 months), as well as £26.50 a month for the PPI.

My question is what exactly can I claim for in this situation? Can I claim for the original loan, credit card and current loan, or just one of them? I have also been approached by a company willing to take on the claim for me but they wanted an upfront payment of £299.99 to handle 'documentation costs' They did give me their CRM number and are on the Ministry of Justice list for approved claim handlers, but this seems a bit steep to claim back the PPI. They also mentioned that the new loan may be void as there was no witness to the agreement when it was signed.

Any help would be greatly appreciated

Mike

IF you are only wanting to claim back PPI (have no idea about the Voiding loan issue) then you can do so with help from this site and alone.

You "could" have 3 claims if you feel they were all missold to you. One for the first loan, one the credit card and one for the last loan. If you have account numbers or all three (which can be found from previous correspondence or old bank statements) you can reclaim them all in one letter if to the same firm.

There is a reclaiming guide here
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

You write your own letter using the template as a guide with your own reasons for misselling and then give them 8 weeks for a full and final response. Send everything recorded delivery so you have a proof if this needs to go to FOS.

Good luck

ejc81

mike-d wrote: »

I took out a loan for £3000 in 2005 and believe I was miss sold the PPI (I no longer have the relevant documentation for this loan). I also have a credit card with Lloyds TSB which was at its limit last year. The bank called me in for an appointment where they offered me another loan of £4400 to pay off both the existing loan and credit card. I agreed and am currently paying this back at a rate of £122.73 a month (over 60 months), as well as £26.50 a month for the PPI.

Mike

Hi Mike I had loan from lloyds with PPI mis sold which was taken out in 2004, then they refinanced it in 2008 but I didn't let them talk me into taking out the PPI the second time round. I've just sent them a letter (the first template off the guide on here) and they got back to me within days to say they were looking into it. I'm hoping to get back what they originally charged me on the first loan.

I haven't got the agreement anymore either but it really doesn't matter just send the template stating why you think you were mis sold it. You can get the account number off your old bank statements or just ask in your branch and they will give it to you. If your paying the PPI seperately on the new loan then you should be able to cancel it if you don't need it.

tez_c

Go through a PPI claims firm if you are not having luck with getting through to your lender.

maxdp

tez-c
Why don't you just give the OP some advice rather than trying to get work from this FREE Site. This is not the place to advertise.