lpi advice needed

avonlady2081

recieved a letter from lloyds stating

"Having checked our records i can confirm you registered a successful claim for unemployment/sickness on 24th october 2006 for which you recieved benefit payments totalling 935.93. The premium applied to your personal loan for your Loan Protection Insurance Premium was for the amount of 947.17. as the claim amount you recieved on the 24th October 2006 is greater than the refund you would have recieved i am unable to issue you with a rebate of your premium".

would it be advisable to proceed with the mis selling line as they have already paid these benefits to me. the letter that i sent to lloyds went along the line of feeling pressured, pushy salesperson, not told it was optional etc. This is their final decision.

any advice would be welcomed

many thanks

di3004

avonlady2081 wrote: »

recieved a letter from lloyds stating

"Having checked our records i can confirm you registered a successful claim for unemployment/sickness on 24th october 2006 for which you recieved benefit payments totalling 935.93. The premium applied to your personal loan for your Loan Protection Insurance Premium was for the amount of 947.17. as the claim amount you recieved on the 24th October 2006 is greater than the refund you would have recieved i am unable to issue you with a rebate of your premium".

would it be advisable to proceed with the mis selling line as they have already paid these benefits to me. the letter that i sent to lloyds went along the line of feeling pressured, pushy salesperson, not told it was optional etc. This is their final decision.

any advice would be welcomed

many thanks

Hi there

And you can still complain on any grounds you may still have.

My hubby made a claim on one thing but this would not protect him for everything, where he was let down, he argued on this and have now ruled in his favour, so with whatever reasons you do have ask them to reconsider as you don't believe they have looked into your complaint thoroughly enough.
That again in regards of the amounts they already paid, does it add up, can your remember how many months you claimed on?

avonlady2081

hi
i think it was 6 months or so after being made redundant.
can you clarify that i should send it through to omdudsman on the grounds that that lloyds havn't satisfied my complaint. or to reply to lloyds to satisfy my complaint as the amount is over a £1000 with 8% interest and i am still not happy that they have answered my questions.

many thanks again

avonlady

magpiecottage

The redress proposed by the FSA in this circumstance (assuming a misselling complaint is upheld) would be to refund the premium(s) plus interest, less the payment(s) made under the claim plus interest.

So if the benefits paid were less than the cost then you would get the difference.

avonlady2081

many thanks for the advice,

so in your opinion its not worth persuing as i recived more in payments than i had paid on my premium

thanks

avonlady

di3004

avonlady2081 wrote: »

hi
i think it was 6 months or so after being made redundant.
can you clarify that i should send it through to omdudsman on the grounds that that lloyds havn't satisfied my complaint. or to reply to lloyds to satisfy my complaint as the amount is over a £1000 with 8% interest and i am still not happy that they have answered my questions.

many thanks again

avonlady

Hi there

With hubby's they calculated his all wrong, they did realise this when this was mentioned in the letter, but we are still waiting for the updated letter to come through.

Depending on how much was paid in really, but the thing is here, not sure if its the same as yours, you still have to make the monthly repayment anyway despite them paying this out on a claim, so the ppi repayments are still being paid for. Is this a settled of active account?

If this was not the final decision then write back to them again, ask them for a full breakdown of what you have paid in ppi and monthly repayments, to what they have paid you.

Or write to them to request for a written breakdown on the account, so you know what was paid and what they have paid, to check if this adds up, ask if they are able to post these out to you as soon as possible, see if anything is amiss, if so then I would then write back to them until a final decision have been given, or now complain to the FOS if the final decision have already been given.

Hope this helps and Ihope I've not confused you.:o;)