Advice please, awaiting lloyds cheque

live4dogs

Hi, Hope Im on the correct board this time.

Well Im patiently awaiting my cheque from Lloyds for my missold PPI, they are currently doing a search on my account to see if Ive made any claims (which takes two weeks for some reason) against the insurance before they pay out, anyway once that has been completed will Lloyds send me a cheque out of the blue or will they send me the calculations on how the final settlement is calculated and wether I agree with it ? I just dont trust Lloyds.:mad:

Just wanted to add that I was missold PPI when I was offered a credit card whilst on Incapacity benefit and have been paying it since 1998, of course when I realised I had been missold I cancelled it, which was in March 2009, which is when I went to the FOS, who have been very good all the way along.

Joec

im exactly the same boat

they should send a letter outlining the calculations. then a few days later payment will be recieved (either directly into account of cheque depening on how you opted for it.)

however i have been at the "waiting for insurer to confirm" stage for over 3 weeks now.. and counting.

live4dogs

thanks for that, according to the FOS I should have been paid out by the 18th December, when that came and went I phoned Lloyds insurance service only to be informed via a recorded message that the office was closed due to the adverse weather-charming, anyway we live in hope.:mad:

di3004

live4dogs wrote: »

Hi, Hope Im on the correct board this time.

Well Im patiently awaiting my cheque from Lloyds for my missold PPI, they are currently doing a search on my account to see if Ive made any claims (which takes two weeks for some reason) against the insurance before they pay out, anyway once that has been completed will Lloyds send me a cheque out of the blue or will they send me the calculations on how the final settlement is calculated and wether I agree with it ? I just dont trust Lloyds.:mad:

Just wanted to add that I was missold PPI when I was offered a credit card whilst on Incapacity benefit and have been paying it since 1998, of course when I realised I had been missold I cancelled it, which was in March 2009, which is when I went to the FOS, who have been very good all the way along.

Hi there

I believe they may send you a cheque, is the account a settled one/paid off?
If the account is still running and anything is still owed sometimes they award towards the account and anything remaining plus interest will be awarded to you, but as said it may be a full cheque payment otherwise.

With Lloyds I asked them to send me a detailed written breakdown, which they did do only on request, so it maybe worth you also doing the same, to make sure you know what is what.

Have this gone as far as the FOS?
If so with my hubby's, they did underpay on his account, but the FOS got in touch with Lloyds for the details and a few months down the line my hubby received a further refund.

Good luck and well done on your success.:beer:

jonesy_mjj

I've recently had success against Lloyds Tsb and they are now paying the monies straight into my current accept at another bank. No mention of how long it'll take for it to be credited though

di3004

jonesy_mjj wrote: »

I've recently had success against Lloyds Tsb and they are now paying the monies straight into my current accept at another bank. No mention of how long it'll take for it to be credited though

Well done on your success.:beer:

When you received the acceptance slip, did they give you the opportunity to write down the bank of your choice?
or maybe its because you still have an account with them, they automatically refund into the account?

When they receive the acceptance, then give it 21 days, I would go for working days, and if nothing is received by then, contact them, good luck.

jonesy_mjj

I no longer bank with Lloyds Tsb. On my acceptance slips a direct transfer into my account was the only option

dunstonh

they are currently doing a search on my account to see if Ive made any claims (which takes two weeks for some reason) against the insurance before they pay out

The reason that it takes around two weeks is that the retailer has the liability but won't know if you have claimed on the insurance or not and has to find out from the insurer. This is done in writing.

live4dogs

Hi all, thankyou for your advice, the FOS has been dealing with my case since march 2009, I finally signed the acceptance form on the 13th oct 2010, the FOS then sent this to Lloyds insurance service, the FOS told me they had 8 weeks to sort this out, I was never given the option to state wether I wanted a cheque straight into my account.
In answer to your other question regarding my cedit card balance, I still owe about £1600, so Im not sure what they'll do, but I know I definatly want a breakdown of how the final fee as been worked out.
Im abit concerned that because Lloyds only keep thier records for 6 years they may avoid paying me prior to that, as I have been paying PPI for 11 years, I know it seems strange but I never took any notice why I was paying it, abit foolish I know, well you live and learn.

di3004

jonesy_mjj wrote: »

I no longer bank with Lloyds Tsb. On my acceptance slips a direct transfer into my account was the only option

I see, then I would of thought it would have been a cheque refund, give them a ring, good luck.

di3004

live4dogs wrote: »

Hi all, thankyou for your advice, the FOS has been dealing with my case since march 2009, I finally signed the acceptance form on the 13th oct 2010, the FOS then sent this to Lloyds insurance service, the FOS told me they had 8 weeks to sort this out, I was never given the option to state wether I wanted a cheque straight into my account.
In answer to your other question regarding my cedit card balance, I still owe about £1600, so Im not sure what they'll do, but I know I definatly want a breakdown of how the final fee as been worked out.
Im abit concerned that because Lloyds only keep thier records for 6 years they may avoid paying me prior to that, as I have been paying PPI for 11 years, I know it seems strange but I never took any notice why I was paying it, abit foolish I know, well you live and learn.

Well done to you.:beer:
They "may" refund you the full amount if there are no arrears as such, but may possibly refund towards the account and anything remaining will be paid directly to you with interest.

Hopefully you will receive the full amount going back further than the 6 years, fingers crossed, please let us know, cheers.;)