Lloydstsb online loan and ppi

Lornadoone_2

Hi everyone,
just looking for some help and advice from anyone who has had dealings with Lloydstsb online loans applications and PPI.
I applied and took out a loan with them in august 2005. From memory it was for £7.5k over 3yrs with monthly repayments of £481.99 which included PPI. The application was through their website but paperwork for signing came in the post which I duly signed after a conversation with a LTSB staff member whom read out the PPI stuff over the phone (this is all from memory btw!!). I paid the loan off after 23 months.
Couple of things - the PPI I am sure was a tick box 'yes' or 'no' application online. Also i do not have any paperwork about the loan.

I have searched the forums and read the info on site about PPI reclaim but would just like to be sure I am doing the right thing by starting this reclaim stuff and would love to hear from others specifically about online applications and Lloydstb.

Any thoughts, advice or help please? Would mean a great deal right now.

Thanks in advance.

di3004

Lornadoone wrote: »

Hi everyone,
just looking for some help and advice from anyone who has had dealings with Lloydstsb online loans applications and PPI.
I applied and took out a loan with them in august 2005. From memory it was for £7.5k over 3yrs with monthly repayments of £481.99 which included PPI. The application was through their website but paperwork for signing came in the post which I duly signed after a conversation with a LTSB staff member whom read out the PPI stuff over the phone (this is all from memory btw!!). I paid the loan off after 23 months.
Couple of things - the PPI I am sure was a tick box 'yes' or 'no' application online. Also i do not have any paperwork about the loan.

I have searched the forums and read the info on site about PPI reclaim but would just like to be sure I am doing the right thing by starting this reclaim stuff and would love to hear from others specifically about online applications and Lloydstb.

Any thoughts, advice or help please? Would mean a great deal right now.

Thanks in advance.

Hiya

It may be a good idea to request for the copy of the phone recordings, this may help your case if you believe you were mis sold the ppi.
They may supply the recordings free of charge, or you may have to do this in forms of a subject access request (SAR).
If they cannot supply the copy by a disc, they should have details of written transcripts of the sale of the loan/ppi.

An SAR is optional and if you decide to want to request for this, you enclose £10 cheque or postal order, and they have 40 calendar days to comply.
Link to SAR Template letter here:
https://forums.moneysavingexpert.com/discussion/1475553

However, I have just posted the above in hope it will help you, but with all mine from Lloyds they have always been sold directly to me in the bank and not online.

To make a reclaim, its only a matter of completing the reclaiming questionnaire, this replaced the template letter on this site, send to the address shown below.
Keep copies of everything in case you have to refer to this again at some point, for example complain to the FOS if your not happy with the final outcome.
They normally have 8 weeks to give a decision - but may ask for more time, but will keep you informed of the progress of your complaint.

Reclaiming questionnaire here - stage one.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#reclaim

Lloyds PPI
Customer Care
Lloyds TSB Insurance
Tredegar Park
Newport
South Wales

Hope this helps, good luck.;)

Lornadoone_2

Hi Di, thank you so much for the reply. Great idea about the recording. Bizarre situation really in so much as the offer of loan was via online banking-have been a customer for many years. I filled the application out....there was something about PPI. I then submitted it online and within 24 hours a woman rang talking about the loan and simply going through the motions reading off a cardscript I presume. I asked about the PPI -did I need it, what does it cover was there another option as I had other insurance policies which would cover some of the criteria of repayment etc etc...It was just all very 'scripted'. In the end I needed the loan but the total repayable as opposed to the loan amount was rather large. Anyway i signed up....just worried that maybe it was my ignorance re PPI rather than their summary of it which made me sign in which case do I have 'JUST CAUSE' to reclaim??????

I simply dont know......

Hey ho...thanks again......anyone else????