Need advice about Llodys TSB PPI reclaim

besley07

Hello
i am new to this forum but i need some advice, my dad took out a £10,000 loan in 2005 with lloyds tsb and we believe he was mis sold the ppi. as i recently discovered he actually took out a 8000 loan with a single premium ppi of £2000 plus £700 interest on the ppi.
basically i think he was mis sold the ppi because 1 he was reited and in reciept of incapacity benefit and 2 it wasnt explained how the ppi worked, i mean they are basically charging him interest on the ppi twice are they not ?
also does anyone know of any way of speeding up the process of making a claim, rather than the usual 8 weeks response time from the bank ?

thanks for any advice you can give

di3004

besley07 wrote: »

Hello
i am new to this forum but i need some advice, my dad took out a £10,000 loan in 2005 with lloyds tsb and we believe he was mis sold the ppi. as i recently discovered he actually took out a 8000 loan with a single premium ppi of £2000 plus £700 interest on the ppi.
basically i think he was mis sold the ppi because 1 he was reited and in reciept of incapacity benefit and 2 it wasnt explained how the ppi worked, i mean they are basically charging him interest on the ppi twice are they not ?
also does anyone know of any way of speeding up the process of making a claim, rather than the usual 8 weeks response time from the bank ?

thanks for any advice you can give

Hi and welcome

So your dad was sold the loan whilst he was claiming incapacity benefit?
In this case in my opinion your dad should make a reclaim on this ppi, so all he have paid in ppi and interest.

You would need to complete the reclaiming questionnaire, this replaced the template letter, send to lloyds, address below, keep a copy in case you need to refer to it later on, or complain to the financial ombudsman service (FOS).
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#reclaim

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



They have 8 weeks to give a decision, they do sometimes ask for more time and give a date of when you should hear.

Good luck with this, please keep us posted.

besley07

Thanks for the advice, im going to get the questionaire filled out straight away and send it asap

also, yes he was sold the loan while claiming incapacity benefit thats what made me first think he would be able to reclaim the ppi.

thanks again

di3004

besley07 wrote: »

Thanks for the advice, im going to get the questionaire filled out straight away and send it asap

also, yes he was sold the loan while claiming incapacity benefit thats what made me first think he would be able to reclaim the ppi.

thanks again

Hi

Your very welcome

I am surprised they gave a loan at all to be honest, and more so the ppi, this just goes to show that they just added this without discussing it with your dad.

I'm sure this is going to be a straight forward case, but may I just suggest, with it being Lloyds, don't go for offers, in case your dad misses out, they mis sold and that was that, so make sure he gets back every penny they taken off him for ppi, plus interest.

You could if you want to, also put in a cover letter as well.

Fingers crossed, hopefully this should be an easy one.;)

Di
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