Recieved 4 loan statements from LTSB can someone have a look please

BigCraigJohn

Thanks again.

Actually had a pm of a new member who had reclaimed £4200 back from 5 loans dating back to 2001, decision within 8 weeks offering full amount so feeling positive.
He said he did it all in 1 letter, explaining the complaint for each loan.

And after checking again all the loans ran straight 1 after another, there was actually no break which may make it simpler.

di3004

BigCraigJohn wrote: »

Thanks again.

Actually had a pm of a new member who had reclaimed £4200 back from 5 loans dating back to 2001, decision within 8 weeks offering full amount so feeling positive.
He said he did it all in 1 letter, explaining the complaint for each loan.

And after checking again all the loans ran straight 1 after another, there was actually no break which may make it simpler.

Cool, there shouldn't be a problem, so go for them all, fingers crossed.:beer:

BigCraigJohn

Hi, how is this letter?, theres a few bits ripped from other places but most is my own words. Anything I should remove/add/change. Thanks again.

Dear Sir/Madam


Re: Loan Account numbers:
@@@@@
@@@@@
@@@@@
@@@@@

The above were Payment Protection Policies sold to me alongside loans by Lloyds Tsb between 2002 and 2005. Due to the recent media coverage on the matter, I now believe that the above policies were miss sold to me for the reasons outlined below.

*@@@@@: **/**/2002 – **/**/2003
I was at no time informed any insurance was optional so therefore felt I had no choice. I was sold a protected loan and to have the loan without insurance was not an option.
I was given the impression that because of my age and short term of employment at the time that this was my only choice ie have the loan with insurance or don’t have it.
I was not asked if I had existing medical conditions.
The policy was not explained to me so I did not know what I had agreed too nor did I know what I had bought insurance for.
The way it was to be paid for was also not explained to me.
I was not informed that I could actually look elsewhere for the insurance.

*@@@@@: **/**/2003 – **/**/2003
This was a top up loan, I was not aware I had taken out a new loan or payment protection policy so had no choice. I just signed a new agreement after being told to “sign here”

*@@@@@: **/**/2003 – **/**/2004
Again this was a top up loan, I was not aware I had taken out a new loan or payment protection policy so had no choice. I just signed a new agreement after being told to “sign here”

*@@@@@: **/**/2004 – **/**/2006
Again I was given the impression the loan would be given only on condition that I bought the Payment protection policy.
I was not told it was optional.
On the same day I opened a business bank account, I informed the Lloyds staff member that I intended on becoming full time self employed in the next few months, which I did in January 2005. She did at no point inform me that there were certain areas of the policy where I would be prejudiced against for being a self employed person, and that certain areas of the policy would not be covered so therefore I would be paying for something I could not claim on even if I had wanted it.
Again I was not asked if I had any existing conditions.
I felt the staff member to be very pushy and pressuring.

*I also notice on the loan statement that there was no rebate for policy @@@@@ upon the loans repayment, so I presume this means I was paying towards two policies at once?.

*In all cases the rebates do not appear to be a fair amount taking into account the amount paid as a percentage of the total balance.

For the reasons above I believe I have been miss sold these payment protection policies and would like a refund of all premiums paid plus statutory interest at 8% which the courts would award. I request this from the first payment that I made until the date of your settlement of this claim.
I look forward to hearing from you with a full response within 8 weeks. If I don’t hear from you I will consider taking my claims further either through the FOS or through the courts.

Yours faithfully

BLT_2

BigCraigJohn wrote: »

Hi, how is this letter?, theres a few bits ripped from other places but most is my own words. Anything I should remove/add/change. Thanks again.

Dear Sir/Madam


Re: Loan Account numbers:
@@@@@
@@@@@
@@@@@
@@@@@

The above were Payment Protection Policies sold to me alongside loans by Lloyds Tsb between 2002 and 2005. Due to the recent media coverage on the matter, I now believe that the above policies were miss sold to me for the reasons outlined below.

*@@@@@: **/**/2002 – **/**/2003
I was at no time informed any insurance was optional so therefore felt I had no choice. I was sold a protected loan and to have the loan without insurance was not an option.
I was given the impression that because of my age and short term of employment at the time that this was my only choice ie have the loan with insurance or don’t have it.
I was not asked if I had existing medical conditions.
The policy was not explained to me so I did not know what I had agreed too nor did I know what I had bought insurance for.
The way it was to be paid for was also not explained to me.
I was not informed that I could actually look elsewhere for the insurance.

*@@@@@: **/**/2003 – **/**/2003
This was a top up loan, I was not aware I had taken out a new loan or payment protection policy so had no choice. I just signed a new agreement after being told to “sign here”

*@@@@@: **/**/2003 – **/**/2004
Again this was a top up loan, I was not aware I had taken out a new loan or payment protection policy so had no choice. I just signed a new agreement after being told to “sign here”

*@@@@@: **/**/2004 – **/**/2006
Again I was given the impression the loan would be given only on condition that I bought the Payment protection policy.
I was not told it was optional.
On the same day I opened a business bank account, I informed the Lloyds staff member that I intended on becoming full time self employed in the next few months, which I did in January 2005. She did at no point inform me that there were certain areas of the policy where I would be prejudiced against for being a self employed person, and that certain areas of the policy would not be covered so therefore I would be paying for something I could not claim on even if I had wanted it.
Again I was not asked if I had any existing conditions.
I felt the staff member to be very pushy and pressuring.

*I also notice on the loan statement that there was no rebate for policy @@@@@ upon the loans repayment, so I presume this means I was paying towards two policies at once?.

*In all cases the rebates do not appear to be a fair amount taking into account the amount paid as a percentage of the total balance.

For the reasons above I believe I have been miss sold these payment protection policies and would like a refund of all premiums paid plus statutory interest at 8% which the courts would award. I request this from the first payment that I made until the date of your settlement of this claim.
I look forward to hearing from you with a full response within 8 weeks. If I don’t hear from you I will consider taking my claims further either through the FOS or through the courts.

Yours faithfully

Personally I would avoid lines such as "I just signed a new agreement after being told to 'sign here' - it makes you appear rather ineffectual and easily led, not an image you want to portray when fighting your case.

I would also take out the line about 'recent media coverage' - it looks like you are a chancer jumping on the bandwagon. I would just leave that line out

I hasten to add this is a personal view of the tone of the letter and not based on any profession expertise.

Good luck with it

BLT_2

BigCraigJohn wrote: »

Hi, how is this letter?, theres a few bits ripped from other places but most is my own words. Anything I should remove/add/change. Thanks again.

Dear Sir/Madam


Re: Loan Account numbers:
@@@@@
@@@@@
@@@@@
@@@@@

The above were Payment Protection Policies sold to me alongside loans by Lloyds Tsb between 2002 and 2005, I believe that the above policies were mis sold to me for the reasons outlined below.

*@@@@@: **/**/2002 – **/**/2003
I was at no time informed any insurance was optional, I was sold a protected loan and to have the loan without insurance was not an option. I was led to believe my age and short term of employment at the time precluded a loan with without this insurance, this to my mind placed undue pressure on me to accept.

At no time was I asked if I had existing medical conditions. Neither the policy, nor the method of payment was explained to me, I was unaware of the terms and conditions that I had agreed to or the purpose of the the insurance, at no point was I advised that I could seek alternative insurance.

*@@@@@: **/**/2003 – **/**/2003
This was a top up loan wth, I assume, the payment protection insurance being automatically transferred to it, I was not aware that this has occurred, nor was I offered the opportunity to review my policy.

*@@@@@: **/**/2003 – **/**/2004
This was issued under the same conditions as Loan @@@@@: **/**/2003 – **/**/2003

*@@@@@: **/**/2004 – **/**/2006
Similar to Loan *@@@@@: **/**/2002 – **/**/2003 I was given the impression the loan was dependent upon my agreeing to the purchase of Payment protection policy, with no advisement that it was optional. On the day I took out this loan I opened a business account and advised the loan advisor of such, at no point did she inform me of the restrictions self employment would place on the PPI and that I would not be able to utilise its full range of benefits, thereby making the the policy to a certain extent nugatory. It is worth recording at this point the pushy and pressuring approach adopted by this individual

I note on the loan statement that there was no rebate for policy @@@@@ upon the loans repayment, so I presume this means I was paying towards two policies at once? I also note that the rebates do not appear to be a fair amount taking into account the amount paid as a percentage of the total balance.

For the reasons above I believe I have been mis sold these payment protection policies and request a refund of all premiums paid plus statutory interest at 8% in line with current legislation, calculated from my first payment to the date on which final settlement is made.

I look forward to hearing from you with a full response within 8 weeks. Should a satisfactory response not be recieved within this timeframe I will be left with no other option thatn to pursue my claim through the FOS or the courts.

Yours faithfully

Amended as above, have tried to make it shorter and more pithy and also removed the personal tone of the letter.

Not a criticism of your original effort, more in line with that famous line by Churchill (I believe) wherein he stated 'I am sorry my letter is so long, however I did not have the time to make it shorter'

di3004

Sorry to have missed this BigCraigJohn.
I just signed in a few moments ago.:D

All looking good and I can see BLT have been a great help on this.:T

Good luck, I would post by recorded delivery as well for your proof of posting.;)

BigCraigJohn

Thanks a lot for that BLT . :beer:
Now in my more awake state ive noticed I messed up the dates.

They were taken out between 2002 and 2004 and in place 2002 till 2006. Not sure where the 2005 came from?:mad::D

BigCraigJohn

Right have had a reply to my letter sent monday from Lloyds. Looks fairly generic, along the lines of "Sorry you felt the need to complain, we need more time to look into your complaint and will be in touch soon" etc which sounds ok, they didnt say "no chance" outright.

Mbna are on day 38 of sar request and just told me on the phone that its been sent today 1st class so fingers crossed for tomorow/monday. Not cashed the cheque though so if everything turns up monday i'm just gonna cancel the cheque. Reasonable I think.

BigCraigJohn

Plot thickens.

Can anyone confirm that you would have to of been in 6 months continuous in the same job before taking out a policy?
Loan 4 started 3aug 2004
Started new job late march 2004
Meaning only 4 months in job before taking out this policy. No doubt they would of used this against me had I tried to claim.
Meaning the bank manager either did not ask about the time in job(which i'm sure was in the application) or knowingly sold me something I couldnt claim on.

Is it worth me writing to Lloyds again and pointing this out to add a bit more weight to my complaint?

di3004

BigCraigJohn wrote: »

Plot thickens.

Can anyone confirm that you would have to of been in 6 months continuous in the same job before taking out a policy?
Loan 4 started 3aug 2004
Started new job late march 2004
Meaning only 4 months in job before taking out this policy. No doubt they would of used this against me had I tried to claim.
Meaning the bank manager either did not ask about the time in job(which i'm sure was in the application) or knowingly sold me something I couldnt claim on.

Is it worth me writing to Lloyds again and pointing this out to add a bit more weight to my complaint?

Hi there

I can recall it did state this of 6 months on the LLoyds policy, it may differ with other banks, but from what I can recall, I do think its 6 months.

Yes, tell them you feel they have overlooked and don't feel they have fully investigated your complaint and will appreciate your case being relooked at, it has been done and also request they let you know by 14 days.

I would do what I did, email them its quicker and ask them to pass this on the the insurance complaints team who originally dealt with your complaint.
[EMAIL="Customer.Care.Insurance@lloydsTsb.co.uk"]Customer.Care.Insurance@lloydsTsb.co.uk[/EMAIL]
You have to give them the ref policy number as well, good luck.;)