Lloyds PPI query

mjan

Hi there, looking for some information, please.

I've been following these forums and decided to send a SAR letter to Lloyds to find as I didn't remember about PPI details on a loan I took in 2001 and ended in 2006. I received the equivalent of an encyclopedia of paperwork and, right on top, there it was, a copy of my agreement, like they knew what I was after...

Now, a couple of questions before I fill in the questionaire to reclaim that PPI:
- The questionaire asks for the policy number of the PPI but I can't findthat anywhere. Will the account number of the loan suffice together with a copy of the credit agreement?
- Should I send the questionaire to Lloyds customer services or direct to Lloysd PPI department?

Also, I also found a statement for another loan taken in 2000 to 2004 but there's no credit agreement for it (maibe because it ended over 6 years ago). Is it worth it a try to reclaim PPI on this one?

Both these loans were taken at a time I was in financial dificulties and I was always told by Lloyds staff that taking PPI would help my loans being accepted. I was desperate at the time and never looked back until I found out about these forums.

Many thanks for any advice.

robbedofmymoney

mjan wrote: »

Hi there, looking for some information, please.

I've been following these forums and decided to send a SAR letter to Lloyds to find as I didn't remember about PPI details on a loan I took in 2001 and ended in 2006. I received the equivalent of an encyclopedia of paperwork and, right on top, there it was, a copy of my agreement, like they knew what I was after...

Now, a couple of questions before I fill in the questionaire to reclaim that PPI:
- The questionaire asks for the policy number of the PPI but I can't findthat anywhere. Will the account number of the loan suffice together with a copy of the credit agreement?
- Should I send the questionaire to Lloyds customer services or direct to Lloysd PPI department?

Also, I also found a statement for another loan taken in 2000 to 2004 but there's no credit agreement for it (maibe because it ended over 6 years ago). Is it worth it a try to reclaim PPI on this one?

Both these loans were taken at a time I was in financial dificulties and I was always told by Lloyds staff that taking PPI would help my loans being accepted. I was desperate at the time and never looked back until I found out about these forums.

Many thanks for any advice.

use the loan number as the policy number and send to the customer services department in Newport

for the second loan its important you find out wether or not ppi was added, it will not look good if you try to claim and no ppi was added in the first place.

do you know how much the loan was for and the repayments and term of loan, apr, if this is known we can make a calculated gues as to wether or not ppi was added based ont he monthly re-payments.

:beer::beer::beer::beer:

mjan

Thanks for the repply Robbed

I don't know for sure if I had PPI on the older account but as Lloyds always tryed to flog me insurance and other services everytime I spoke to them and I believed they knew what they were talking about (yes I know I was an idiot!) I believe I did.
The loan was for £3000 over 48 months. I don't know the apr but I paid £84.59 x 47 months and £41.60 the last month. The statement shows that on year 1 I paid £399.48 interest out of £1015.08 paid in, year 2 £329.96/£1015.08, year 3 £211.73/£1015.08 and year 4 £76.16/£972.09. I hope someone good at maths manages to give an idea if PPI may have been paid because I'm no good with numbers.

Thanks a lot

di3004

Hi and welcome

I found my account number via loans on my bank statements, also online, as this allowed me to go back about 7 years, the account number of that actual loan is normally shown next to the monthly repayments made.

Hope this helps and good luck on your reclaiming.;)

robbedofmymoney

mjan wrote: »

Thanks for the repply Robbed

I don't know for sure if I had PPI on the older account but as Lloyds always tryed to flog me insurance and other services everytime I spoke to them and I believed they knew what they were talking about (yes I know I was an idiot!) I believe I did.
The loan was for £3000 over 48 months. I don't know the apr but I paid £84.59 x 47 months and £41.60 the last month. The statement shows that on year 1 I paid £399.48 interest out of £1015.08 paid in, year 2 £329.96/£1015.08, year 3 £211.73/£1015.08 and year 4 £76.16/£972.09. I hope someone good at maths manages to give an idea if PPI may have been paid because I'm no good with numbers.

Thanks a lot

if no ppi was added the apr would be near as dam it 15%, so i would look to see what the apr was on your loan following this one to make a judgement call.

on some of my old loans at around 2000 my apr was near 13%.

ultimately its a judgement call you will have to make.

:beer::beer:

mjan

Thanks again

The apr on the loan I took after that, in 2001, is 14.8% so, close enough to the 15% you mentioned for me to leave it for the moment. I'll claim on the bigger one as I got all the paperwork anyway (they even sent me the credit agreement pre ticked yes on the optional loan protection box so I wouldn't change my mind after they told me I wouldn't probably be accepted without taking PPI).

I'll keep you posted on what happens.

mjan

So, today I got 2 letters from Lloyds telling me they don't have a response to my complaints yet and will let me know as soon as possible what happens next. I have a feeling that they didn't even have time to look into the questionaires I sent in (looking at the amount of complaints they have been receiving).

I'm aware that I can now take my case to the FOS but, is that the best way to go or should I give LLoyds a little more time to sort it out?

What do you guys think?

Thanks

di3004

mjan wrote: »

So, today I got 2 letters from Lloyds telling me they don't have a response to my complaints yet and will let me know as soon as possible what happens next. I have a feeling that they didn't even have time to look into the questionaires I sent in (looking at the amount of complaints they have been receiving).

I'm aware that I can now take my case to the FOS but, is that the best way to go or should I give LLoyds a little more time to sort it out?

What do you guys think?

Thanks

Hi there

How long have your complaints been with Lloyds?

I have had a few successes with them over the last year and dealing with my last 2 now with them, however due to the judicial review - this may be they are taking longer, but normally they have 8 weeks to make a decision, and may possibly request for more time.

Mine have been sitting with them for a good while now - before xmas but they have informed me that I should hear something now by or before the 16 April.

I have been given the choice of either leaving with them a little longer or the FOS, but going to give them until the date stated above and see what happen.

More here.

http://www.lloydstsb.com/payment_protection_insurance_complaints.asp

Good luck and hope you hear some good news soon.;)

the_knitting_drummer

How do I find out if I had PPI on my Lloyds loan? If I did have PPI I want to claim it back, because I feel I would have defo been mis-sold. Does anyone know of any good CMCs I can use? I used one already for my First Plus loan, and got back £5638.56 (less 45% for their services), but would like to try a different one for a bit of variety.

Do people find that the ones with up-front fees try harder? My last one did, and they got my money back in 6 months, so seemed to work.

mjan

Thanks for the reply di

These letters, I believe, are the ones saying they need more time after the first 8 weeks. I sent them the questionaires back in mid January and received an acknowledgement from them a few days later (so, about 8 weeks ago).

I'm not surprised they are asking for more time as, we all know, the number of complaints they are getting are at an all time record high.

They informed me in this letter that if I'm unhappy with the delay I can take the complaint directly to the FOS (I knew about this already ).

I just wanted you guys opinions if I should give them some more time (like another 15 days, for example) or if I should just go straight to the FOS. Will Lloyds stop looking into my complaint if I go to the FOS and just let them decide? Will it take longer if I complain to the FOS straight away?

Just looking for the most pratical way of doing things from you marvelous people at MSE

di3004

the_knitting_drummer wrote: »

How do I find out if I had PPI on my Lloyds loan? If I did have PPI I want to claim it back, because I feel I would have defo been mis-sold. Does anyone know of any good CMCs I can use? I used one already for my First Plus loan, and got back £5638.56 (less 45% for their services), but would like to try a different one for a bit of variety.

Do people find that the ones with up-front fees try harder? My last one did, and they got my money back in 6 months, so seemed to work.

Hi there

Why don't you give it a go yourself?

We do not recommend using claims companies on this site to be honest, but there is free help on this site, and its only a matter of either writing a letter to make a reclaim or complete the reclaiming questionnaire.

More details here and the reclaiming questionnaire on stage one.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#reclaim

Well done on your success though.:beer:

Normally they take anything to 8 weeks and maybe a little longer if they need to investigate further.
But if you made a complaint to the Financial ombudsman service (FOS), for example if your not happy with the final decision made by the bank you can complain to them, but they do have large volumes of complaints which may take some time.

If you decide to want to make a reclaim yourself, and if successful you will get to keep all your money.

The loan agreement will show if any PPi have been added to the loan.
If you no longer have this you can write a simple letter and request they send you a copy of the agreement, you enclose £1 cheque or postal order for this request, and ask they provide it to you by 12 days.

The address you need to make a reclaim to is:

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


Hope this helps, and just remember to keep copies of everything you send and receive, this is in case you need to refer to it at some point.
Good luck.