loan bad advice Lloyds TSB

sophosh

Hi wondered if anyone can give us some advice

We are looking into doing a PPI reclaim for loans with Lloyds TSB. On looking at the paperwork, my hubby had 14 loans over a period of 8 years all with Lloyds each time being encouraged to get PPI and re-finance every time on advice by the personal account manager. Any ideas on how to complain about this?

Foggster

Pop over to the PPI board, very knowledgeable people over there.

Also worth looking through the "reclaims £1000s" tab at the top of the page for a detailed and useful guide on how to claim back PPI.

Personally I have been able to claim back all my PPI from Lloyds over an 8 year period.

Every case is different based on your personal circumstances at the time so it is difficult to say whether you would be successful or not.

Good Luck.

sophosh

Thanks we feel quite confident about being about to reclaim PPI but want to do another complaint about being encouraged to re-finance the loans so frequently which meant the debt carried on getting bigger over the years. Thanks for your post

Foggster

sophosh wrote: »

Thanks we feel quite confident about being about to reclaim PPI but want to do another complaint about being encouraged to re-finance the loans so frequently which meant the debt carried on getting bigger over the years. Thanks for your post

This is a far greyer area. Is there any reason why your husband would have struggled to understand what he was doing? The bank didnt spend the money or encourage your husband to keep spending. In theory, your husband should have taken one loan, managed his spending and paid the loan off. It sounds like he took a loan, cleared/bought whatever he needed to and continued to top up the loan and the bank continued to provide these loans.

I would concentrate on getting the PPI back unless there is something very obvious that the account manager did wrong i.e. lied to him and you are able to prove these lies.

Apples2

sophosh wrote: »

Thanks we feel quite confident about being about to reclaim PPI but want to do another complaint about being encouraged to re-finance the loans so frequently which meant the debt carried on getting bigger over the years. Thanks for your post

You shouldn't have let him out on his own.
You have to take responsibility for this, he simply cannot be trusted to make up his own mind so you should accompany him everywhere.

Take away his ability to draw out cash, enter PIN numbers or sign any kind of legal document.

Definitely make sure he can never walk past a car dealership, they might encourage him to buy a brand new car.

Seriously, just get on with the PPI claim and stop being silly.

27col

So, yet another borrower who refuses to take responsibility for their own actions.