Lloyds TSB Loan Issues. Help?

IndiSevenFive

Hi,

I took out a loan in 2006 with Lloyds TSB for circa £13000, and having been reading on the site, I have a few questions?

Firstly, I cancelled the PPI in 2008 as the loan after 24 payments of £237 odd quid was still bigger than the amount loaned. It was cancelled and the loan has continued to fall at circa £211 per month without issue.

Can I reclaim the 2yrs of PPI at this stage? It was certainly not an option at the point of signing up.

Secondly, the manager who set the loan up set it up as an internal staff loan - my interest rate was 5.7%. Countless branch managers have turned a blind eye whenever they've stumbled across it, and told me to tell noone, but should I be listed as a member of Lloyds TSB staff on my personal loan? Do I have any argument that it was missold?

Thirdly, my second loan from early last year to help me with my new apartment was sold to me without updating my address. They couldn't find my new postcode on the day, have still not changed the address despite 12 monthly attempts to make it so, and I'm so irked I want an excuse to declare the loan null and void based on being knowingly set up with incorrect details.

Any advice appreciated. My office closed last July, and things are somewhat tight at present, and whilst I've no wish to run from my own debts, the records of the bank have been epically inaccurate on both counts.

Thank you.

di3004

IndiSevenFive wrote: »

Hi,

I took out a loan in 2006 with Lloyds TSB for circa £13000, and having been reading on the site, I have a few questions?

Firstly, I cancelled the PPI in 2008 as the loan after 24 payments of £237 odd quid was still bigger than the amount loaned. It was cancelled and the loan has continued to fall at circa £211 per month without issue.

Can I reclaim the 2yrs of PPI at this stage? It was certainly not an option at the point of signing up.

Secondly, the manager who set the loan up set it up as an internal staff loan - my interest rate was 5.7%. Countless branch managers have turned a blind eye whenever they've stumbled across it, and told me to tell noone, but should I be listed as a member of Lloyds TSB staff on my personal loan? Do I have any argument that it was missold?

Thirdly, my second loan from early last year to help me with my new apartment was sold to me without updating my address. They couldn't find my new postcode on the day, have still not changed the address despite 12 monthly attempts to make it so, and I'm so irked I want an excuse to declare the loan null and void based on being knowingly set up with incorrect details.

Any advice appreciated. My office closed last July, and things are somewhat tight at present, and whilst I've no wish to run from my own debts, the records of the bank have been epically inaccurate on both counts.

Thank you.

Hi and welcome


Yes you can try reclaiming with the reasons you may have for being mis sold.
You will find more info on mis selling on the link below.

They should refund you if successful all you had paid in PPI, interest, also request they pay out the 8% interest of what a court would award, also for being deprived of your money.

You actually write to the main PPI department and not the actual branch, and just write it as a staff member from your local branch, you do not have to address the names.

Also, do not worry about writing down the amounts, if successful they should provide you with these details, or you can request they send you these in a full detailed written breakdown.

With your reasons, they have 8 weeks to respond in full, more info with guidelines, templates, a checklist of mis selling reasons, on this link here:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Address to write to:

Lloyds PPI
Customer Care
Lloyds TSB Insurance
Tredegar Park
Newport
South Wales
NP10 8SB

I would personally post by recorded delivery to ensure this reaches them, you can check this out on the Royal mail website "tracking", and keep an eye on those 8 weeks they have, keep at them.

In regards of the loan you taken out earlier, I am not certain on how these things work with those issues you have stated, but you can find out more on the loans thread here:
http://forums.moneysavingexpert.com/forumdisplay.html?f=12

Good luck with this, please keep us posted.

Di

IndiSevenFive

Many thanks for the prompt and detailed response di3004, I'm very grateful.

I shall pursue the PPI via the details you kindly provided, and address the loan questions in the thread linked.

I'll update here accordingly.

Regards

Indi

di3004

IndiSevenFive wrote: »

Many thanks for the prompt and detailed response di3004, I'm very grateful.

I shall pursue the PPI via the details you kindly provided, and address the loan questions in the thread linked.

I'll update here accordingly.

Regards

Indi

Hi Indi

Your very welcome.;)
Good luck with this and on the other thread too.

Please keep us updated on your progress of your reclaims, that would be good, cheers.;)

Di