lloyds tsb PPI

mr_fef

hi all, I had a loan with lloyds tsb which was taken out in 2002 which had ppi.

I telephoned them to lodge a complaint regarding the ppi being missold and what a wonderful response i had, i was told that as the loan was taken out prior to a particular date which i think was jan 2005 i had to be directed to a different insurance dept they said they would be in touch and within 4 weeks i got a reply saying they will uphold my complaint and refund me £2600 wow is what i thought i have now had the money approx 2 weeks ago.

the plot continues, i had another loan with the same dept at lloyds tsb which was taken out in exactly the same way this loan was taken out in may 2005 i lodged the same complaint and was told this will be investigated directly by the bank, i have now been told they have declined my complaint??

i have explained to them that my other complaint was upheld but they dont seem interested.

how can that be, same type of loan taken out with the same bank ??

any comments of help would be helpful

i have of course challenged them on this and they have told me i am in a que awaiting investigation, they also told me the financial ombudsmen are aware of the delay with lloyds tsb

what more do i do now ?

di3004

mr_fef wrote: »

hi all, I had a loan with lloyds tsb which was taken out in 2002 which had ppi.

I telephoned them to lodge a complaint regarding the ppi being missold and what a wonderful response i had, i was told that as the loan was taken out prior to a particular date which i think was jan 2005 i had to be directed to a different insurance dept they said they would be in touch and within 4 weeks i got a reply saying they will uphold my complaint and refund me £2600 wow is what i thought i have now had the money approx 2 weeks ago.

the plot continues, i had another loan with the same dept at lloyds tsb which was taken out in exactly the same way this loan was taken out in may 2005 i lodged the same complaint and was told this will be investigated directly by the bank, i have now been told they have declined my complaint??

i have explained to them that my other complaint was upheld but they dont seem interested.

how can that be, same type of loan taken out with the same bank ??

any comments of help would be helpful

i have of course challenged them on this and they have told me i am in a que awaiting investigation, they also told me the financial ombudsmen are aware of the delay with lloyds tsb

what more do i do now ?

Hi there

First of all well done on your success.:beer:

I would write back anyway, with Lloyds unfortunately they have treated lots this way, where they have upheld on some and rejected others, yet for the same reasons.

What you need to do is write to them again, you can do this by email, tell them your giving them the opportunity to re-investigate, despite their decision, tell them you don't feel your complaint have been investigated properly, and the FSA are punishing banks for this reason and for rejecting genuine complaints.

Request they get back by 7 days with a decision, and mention if you do not hear anything you will therefore continue with the FOS, where this will occur in further charges upon themselves if the FOS uphold your complaint, and you will also be requesting for further redress for distress and inconvenience.

You could email them, remember to give your complaint ref number, and ask that they confirm that your email will be forwarded on to the relevant dept, they should do this for you.

Also copy if to the Chief Executive officer (CEO)

[EMAIL="customer.care.insurance@lloydstsb.co.uk"]customer.care.insurance@lloydstsb.co.uk[/EMAIL]

[EMAIL="eric.daniels@lloydstsb.co.uk"]eric.daniels@lloydstsb.co.uk[/EMAIL]
Eric is the CEO.

Good luck, please keep us posted.;)

halphy

well done with your success, as Di says keep at it! Dont give up

mr_fef

I have written back to Lloyds TSB requesting that they re investigate my complaint, I am waiting to hear.

di3004

mr_fef wrote: »

I have written back to Lloyds TSB requesting that they re investigate my complaint, I am waiting to hear.

Good luck with this, keep at them.;)

mr_fef

after wrting back to lloyds tsb with my views I got a call from them on friday saying due to new legislation by the financial ombudsmen they are willing to uphold my 2nd claim yipee, I havent been given a figure yet buts all good. is there new rules from the financial ombudsmen ??

di3004

mr_fef wrote: »

after wrting back to lloyds tsb with my views I got a call from them on friday saying due to new legislation by the financial ombudsmen they are willing to uphold my 2nd claim yipee, I havent been given a figure yet buts all good. is there new rules from the financial ombudsmen ??

Hi

Wow well done to you that is great news.:beer:

I am not sure about rules, but if they uphold they must follow the rules on paying out and oblige by the FOS.

For more on redress on how the FOS calculates ppi refunds, they should follow these procedures (as shown below on Maxdp's thread).
https://forums.moneysavingexpert.com/discussion/1596473

hope this helps and Congratulations!:beer:

mr_fef

i have had a letter from lloyds tsb asking to me confirm my acceptance of their refund terms however i have not been advised of the exact amount be refunded, however the letter said i will receive all ppi amount paid back to me alomg with a simple interest of 8% that part i understand, but should i also be receiving back to interest i incurred on the ppi

for example cost of loan protection insurance was £2137

interest on ppi £453

should i get all the 2 figures back......plus 8% simple interest charge or am i not correct ??

advice please

di3004

mr_fef wrote: »

i have had a letter from lloyds tsb asking to me confirm my acceptance of their refund terms however i have not been advised of the exact amount be refunded, however the letter said i will receive all ppi amount paid back to me alomg with a simple interest of 8% that part i understand, but should i also be receiving back to interest i incurred on the ppi

for example cost of loan protection insurance was £2137

interest on ppi £453

should i get all the 2 figures back......plus 8% simple interest charge or am i not correct ??

advice please

Hi there

That sounds about right with the added interest as well.

Basically if they upheld your complaint, they should refund all you paid of ppi to date and interest also the 8% simple interest and 8% interest of what a court would award for being deprived of your money.

Did they confirm if they would be calculating inline with the FOS?
If so then you should receive the 8% simple interest as well, and also take a look on how the FOS calculates refunds on ppi, it may give you some idea.
https://forums.moneysavingexpert.com/discussion/1596473

Well done to you.:beer:

mr_fef

ok cool thanks thats exactly what i thought.

I will find out soon enough what the amount is as they will be posting the calculation out to me.

It just seems very strange no one at the bank today could give me a straight answer on what the exact figure will be.

Their answers seemed very sketchy and not wanting to commit to my questions but saying it will be calculated once they have received my acceptance letter back

time will tell

di3004

mr_fef wrote: »

ok cool thanks thats exactly what i thought.

I will find out soon enough what the amount is as they will be posting the calculation out to me.

It just seems very strange no one at the bank today could give me a straight answer on what the exact figure will be.

Their answers seemed very sketchy and not wanting to commit to my questions but saying it will be calculated once they have received my acceptance letter back

time will tell

Hi, and your welcome.

This is Lloyds all over, any problems email them here:
[EMAIL="customer.care.insurance@lloydstsb.co.uk"]customer.care.insurance@lloydstsb.co.uk[/EMAIL]

Its always useful to have the Chief Executive officer's email as well.
[EMAIL="eric.daniels@lloydstsb.co.uk"]eric.daniels@lloydstsb.co.uk[/EMAIL]

Good luck.;)