SUCCESS! Now what...

DanielleR

So I successfully claimed back all my PPI with interest woohooo! Lloyds TSB sent me a letter two weeks ago saying that my paperwork was incomplete so they are refunding me everything. I signed it straightaway and sent it back. How long do they usually take to put the money back onto the card?

halphy

Have u called them to chase it up x

dec22

Well done!

I'm not sure but I know Lloyds do take their time and i think I recently saw about 45 days on the forum. You could laways give them a ring and ask them if it makes no mention of the time period in your offer letter.

Quite a lot of people have had Lloyds refunds so hopefully one of them will come along soon and give some better advice!!

Hope your wait isn't too long.

di3004

Well done and Congratulations Danielle.:beer:

I would give them say 4 weeks and if you hear nothing, contact them.

One of mine taken 21 working days after them receiving the acceptance slip, and others can take 45 as dec22 stated.

Good luck and again well done!:beer:

Foggster

Have you had the calculation from them yet? This will normally come before the money is paid into the account. Once that arrived it was a about 2 days and the money was in the account.

DanielleR

No, no calculation as of yet and I'm moving in two weeks. Will they get my change of address?

What the letter said was.....

I have reviewed the records relation to the sale of your CC PPI and have taken into account your comments noting to your circumstances at the time of sale. Blah blah highest level of service. Unfortunatley, during the course of our investigations, I have discovered the records relating to the sale of your card protection are incomplete. Consequently it has been difficult for me to objectively assess whether the sale was conducted in accordance with the standards required at the time

I have decided that the only fair and reasonable way of addressing your compaint is too offer you a refund.

The remedy that I am offering is the same that which an adjudicatior at the FOS would make in your favour adn has been designed to ensure that you are put back to the same position you would have been in had the PPI premium not been included with your CC.

The refund will consist of the premium paid plus, where appropriate any interest incurred and simple interest where applicable...

etc etc

Now I've been paying around £40 on PPI for 4 years exactly, and in addition to that I've had something like a 18.5% apr on top of that..... what sort of a calculation do I need to do to work out how much I should get back.


Thanks

di3004

DanielleR wrote: »

No, no calculation as of yet and I'm moving in two weeks. Will they get my change of address?

What the letter said was.....

I have reviewed the records relation to the sale of your CC PPI and have taken into account your comments noting to your circumstances at the time of sale. Blah blah highest level of service. Unfortunatley, during the course of our investigations, I have discovered the records relating to the sale of your card protection are incomplete. Consequently it has been difficult for me to objectively assess whether the sale was conducted in accordance with the standards required at the time

I have decided that the only fair and reasonable way of addressing your compaint is too offer you a refund.

The remedy that I am offering is the same that which an adjudicatior at the FOS would make in your favour adn has been designed to ensure that you are put back to the same position you would have been in had the PPI premium not been included with your CC.

The refund will consist of the premium paid plus, where appropriate any interest incurred and simple interest where applicable...

etc etc

Now I've been paying around £40 on PPI for 4 years exactly, and in addition to that I've had something like a 18.5% apr on top of that..... what sort of a calculation do I need to do to work out how much I should get back.


Thanks

Hi Danielle, pleasing news this.:T

I would double make sure with them, also email them to remind them of the new address....
[EMAIL="customer.care.insurance@lloydstsb.co.uk"]customer.care.insurance@lloydstsb.co.uk[/EMAIL]

You should have a good amount back here then, and the interest etc.
Robbedofmymoney knows how Lloyds works their calculations, and hopefully he should be along soon and maybe if you post up details of your loan, he will work out the expected amount you should be receiving back.;)

robbedofmymoney

di3004 wrote: »

Hi Danielle, pleasing news this.:T

I would double make sure with them, also email them to remind them of the new address....
[EMAIL="customer.care.insurance@lloydstsb.co.uk"]customer.care.insurance@lloydstsb.co.uk[/EMAIL]

You should have a good amount back here then, and the interest etc.
Robbedofmymoney knows how Lloyds works their calculations, and hopefully he should be along soon and maybe if you post up details of your loan, he will work out the expected amount you should be receiving back.;)

credit card recalim calculations are not easy to work out and can get very confusing.
it is near impossible to work out any figures unless you have all you statement history and spend a long time going through them.

what they should do is give you a statement of all your premiums paid, detailing the interest that was added to each of these payments, then they take these monthly figures from your account statement history and if at any time the account then comes into credit they will add 8% simple interest to this amount for th etime the account is in credit.

as you can see, its complexed and not easy.

i would wait to see waht they send you within their brekdown and if you feel its not correct you can then quiery the figures then.

to be fair to Lloyds, it seems once the offers have been made they do things correctly, its just all the messing around before hand to get a decision.

let us know once you have some figures, and i'm sure it will either look about right to you or seem way off the mark if it is.

sorry i can't be of any further help today.

cheers