Finally taken the plunge

michelle45_2

After a lot of shall I's or shant I, I finally sent off a letter re misselling to Lloyds for 2 loans - the first one from 2001 and the second from 2004. (Felt guilty about the 2004 one as it was my neighbour at the time who arranged it). I have cited the following - comments would be appreciated.

1. Over the years had loans with lloyds but when I first took one out the Manager (yes the boss) said it would be better if I took ppi out - so from then on I always ticked yes.

2. Nobody ever mentioned pre exising medical complaints. When I took the loan in 2001 they were refinancing for me because I was having financial difficulties, which when I went to sign up for it I was off sick with stress (they were aware of that) but never said anything plus I have been hospitalised with depression in the past, again nothing came up. When I took the loan in 2004 I was having outpatient appointments for gall baldder/liver problems in 2005 had to go into hospital for this. Which would have made the ppi no good for these problems, nothing was discussed.

3. I have a comphrensive sickness/redundancy and death in service package with my company - the staff knew this, so why did they encourage me strongly to tak eout further insurance when I didnt need it. (If I was going to take out more money as a loan I would have preferred to have spend it on myself, but especially in Loan 1 when refinancing due to financial problems why would i take out more money if I didnt need to).

4. Wasnt informed that if I did need the insurance that there were options available where I could pay monthly, instead of having the amount put ontop of the loan and having to pay interest.

Whad do you all think?

I have sent it off today recorded delivery.,

Michelle

Makela2009

Hi
I successfully claimed from LloydsTSB last year. The whole process took about 2 months from teh first letter to getting the cash off them. go for it!:o

di3004

michelle45 wrote: »

After a lot of shall I's or shant I, I finally sent off a letter re misselling to Lloyds for 2 loans - the first one from 2001 and the second from 2004. (Felt guilty about the 2004 one as it was my neighbour at the time who arranged it). I have cited the following - comments would be appreciated.

1. Over the years had loans with lloyds but when I first took one out the Manager (yes the boss) said it would be better if I took ppi out - so from then on I always ticked yes.

2. Nobody ever mentioned pre exising medical complaints. When I took the loan in 2001 they were refinancing for me because I was having financial difficulties, which when I went to sign up for it I was off sick with stress (they were aware of that) but never said anything plus I have been hospitalised with depression in the past, again nothing came up. When I took the loan in 2004 I was having outpatient appointments for gall baldder/liver problems in 2005 had to go into hospital for this. Which would have made the ppi no good for these problems, nothing was discussed.

3. I have a comphrensive sickness/redundancy and death in service package with my company - the staff knew this, so why did they encourage me strongly to tak eout further insurance when I didnt need it. (If I was going to take out more money as a loan I would have preferred to have spend it on myself, but especially in Loan 1 when refinancing due to financial problems why would i take out more money if I didnt need to).

4. Wasnt informed that if I did need the insurance that there were options available where I could pay monthly, instead of having the amount put ontop of the loan and having to pay interest.

Whad do you all think?

I have sent it off today recorded delivery.,

Michelle

Hi Michelle

Good for you.
Yes this looks fine.

I'm sure your neighbour would understand, so not to worry, good luck with this, please keep us posted.:);)

Di

michelle45_2

Hi suppose I should stop feeling guilty - she did get commission from the sale, plus you would have thought she would have said I didnt need it, but all I can imagine is her coming around to my house asking what the Hell I was playing at.

Michelle

donotpassgo_2

Welcome Michelle45, I think your letter and reasons for misselling are strong, lloyds are not usually quick off the mark, although somebody has just posted with a very quick successful outcome from lloyds.
Good luck and keep us posted:)

michelle45_2

Hi
Ive also now sent the same letter to HFC/beneficial finace for the same reasons as Lloyds but this time I was told I needed to have it for the loan (but how do you prove this its their word against mine and I know who they are going to go for). Plus the salesman was so pushy I walked out with stuff I didnt need

I took this loan out 5 years ago it finishes in May. I remember this so well cos I walked out of the branch with accident cover, which I didnt need and £400.00 taken out of my loan shaking my head wondering why I couldnt say no. Thinks I was just so glad to get out of the shop I was in for nearly 2 hours

Thinkng back why would I take out ppi and accident cover (more money to pay back and ive not even spent it) when my work covers me for 12 months. I must have been so gullable/idiot. At the time though I would have signed my life away without thinking for the money.

Michelle

di3004

michelle45 wrote: »

Hi
Ive also now sent the same letter to HFC/beneficial finace for the same reasons as Lloyds but this time I was told I needed to have it for the loan (but how do you prove this its their word against mine and I know who they are going to go for). Plus the salesman was so pushy I walked out with stuff I didnt need

I took this loan out 5 years ago it finishes in May. I remember this so well cos I walked out of the branch with accident cover, which I didnt need and £400.00 taken out of my loan shaking my head wondering why I couldnt say no. Thinks I was just so glad to get out of the shop I was in for nearly 2 hours

Thinkng back why would I take out ppi and accident cover (more money to pay back and ive not even spent it) when my work covers me for 12 months. I must have been so gullable/idiot. At the time though I would have signed my life away without thinking for the money.

Michelle

Hi Michelle, good for you.
I'm sure they did try to make it the condition of the loan, its a known thing that they done this then, so I'm sure you will do okay here, keep it up, good luck.;)