ppi confused need advice

avonlady2081

my husband has ppi with lloyds tsb, gone down mis sold route using following, essential to take loan out, policy not optional, previous medical / continued medical problem, exclusions on policy on medical grounds.
he has a current front loaded 9000 loan at 16.9% over 84 months.
ppi at 3257.51 5391.12 total payable. at 16.9%. he recieved a letter today offering him 2562.66 goodwill gesture if he cancels ppi. their final decision. which he worked out is what he is entitled to if he cancels the ppi anyway. he hasnt been offered re-finance of loan the goodwill gesture will come off loan amount. they say that the loan will just be paid off early. how much should he get back? my question is should he go to fos to get it all back plus interest or should he take it and run.

your advice is valued and very much apprciated

kindest regards

avonlady

marshallka

avonlady2081 wrote: »

my husband has ppi with lloyds tsb, gone down mis sold route using following, essential to take loan out, policy not optional, previous medical / continued medical problem, exclusions on policy on medical grounds.
he has a current front loaded 9000 loan at 16.9% over 84 months.
ppi at 3257.51 5391.12 total payable. at 16.9%. he recieved a letter today offering him 2562.66 goodwill gesture if he cancels ppi. their final decision. which he worked out is what he is entitled to if he cancels the ppi anyway. he hasnt been offered re-finance of loan the goodwill gesture will come off loan amount. they say that the loan will just be paid off early. how much should he get back? my question is should he go to fos to get it all back plus interest or should he take it and run.

your advice is valued and very much apprciated

kindest regards

avonlady

Hi, if you have a complaint for misselling and this is their final response then you can either accept or take it to FOS. Its not the amount back that you would expect for a misselling complaint and as you state you would be allowed to cancel the policy anyway. Its entirely up to you though.

avonlady2081

many thanks for your reply

not sure what to do, might just send a letter to lloyds tsb asking for the amount owed plus interest considering he is a "valued customer" and say hes not satisfied with their response and threaten fos.

avonlady

avonlady2081

quick update on my husbands claim for ppi
he got a letter offering a settlement he was not happy with the outcome so he phoned lloyds tsb saying that their responses did not answer the specific qustions that he had asked, he said that he was dissapointed with their corperate mass generated response and threatened to forwrd the claim to fos and asked them to reconsider, they asked him to email the points that were raised in the phone conversation direct to the person he spoke to at lloyds. where he stated that due to being in the navy he had lost money by not going to sea and this put us in financial hardship due him being off work and not being able to claim as he has a previous medical condition. lloyds said that they would get back to him within 24-48 hrs with a response. they phoned back the next day saying that even though their final decision had been made having reviewed the case that they were prepaired to uphold his claim and settle in full. £3257.51 plus 8% simple interest. yippeeee. he was to recieve a letter confiming this which he did today. also was a letter confirming that they had reconsidered their position on another claim that he had made for a loan in 2004 with lpi and they would uphold this as well even though he hadnt yet challenged this one. this being £596.84 plus 8% simple interest. double yiiiippppeeee...... bearing in mind he has never missed or been late with any repayments and they are both front loaded loans.
i do however have one question ...

can he ask for the money that he is owed from the first claim to be paid into the bank as the lpi has already been paid (front loaded) or is it standard practice for the payments you have made up to date on the lpi to be paid into your bank and the remainder to come off your loan and your repayments to be the same as if you never had the lpi. this is what lloyds has proposed, is this right......

once again thanks to everyone who has been supportive and thank god for martin lewis..... he should be Knighted.......

avonlady