MSE News: Lloyds defeated as it withdraws from PPI legal action

dunstonh

Don't you ever tire of repeating this? You say it at every opportunity and more. You must have said it a thousand times.

I can only think of one occasion it has been said before. Its not often that someone asks if they can put a claim into a policy that they have requested be cancelled and premiums refunded. If you are on about PPI then who would thought that the posts in this section are about that!

Surely you have something better to do in your life.

Ironic given your posts.

robbedofmymoney

this is fantastic news for everyone, if Lloyds are not going to appeal via the BBA and pay out £3.2bn then i would be very surprised if the other banks do not do the same.

Lloyds will have consulted their lawyers to see if there was any way of wriggling out of it, but have probably come to the conclusion that one way or another they would not win an appeal.

well done to the new CEO for not dragging it our further for Lloyds customers

di3004

Halifax website update.......


http://www.halifax.co.uk/helpcentre/ppi-complaints/?pagetabs=1

What does the outcome of the Judicial Review mean for my PPI Complaint?
We are no longer supporting the British Bankers' Association's Judicial Review.
We are now reassessing the complaints that we have already received and dealing with them in a swift and timely manner.
Those customers who have not complained but have concerns about their PPI policy should contact

pompeyfaith

This is not just Lloyds bank but Lloyds Banking Group which includes Bank of Scotland, Halifax, Black Horse Finance and any other Financial Organisation that is part of the Lloyds Group.

http://www.bankofscotlandhalifax.co.uk/HelpCentre/ppi-complaints/

http://www.halifax.co.uk/HelpCentre/ppi-complaints/

http://www.blackhorse.co.uk/Motor/PPIComplaints.html

Bonnie2009

I have several claims against Lloyds and all are now with the Ombudsman. They've been there for about 18 months, with Lloyds dragging their heels over passing over information and the FOS being so snowed under they'd forgotten to ask for some, too.

Lloyds have already paid me about £8,000 (ironically for PPI's I wasn't claiming for and had forgotten I'd had, ie before internet banking.)

The FOS found in my favour on PPI on a Lloyds credit card, but Lloyds appealed it. They hadn't got the paperwork any more.

Do you think Lloyds will continue to appeal the PPI on the credit card?

Do you think they will now find in my favour on the other cases - none of which they had any proof I had asked for? Just wondering whether they'll stay with the FOS or what, now.

CornishWander

Alpine_Star wrote: »

As many claimants are complaining that the exclusions in the policies means that it's no good to them, it doesn't apply.

Many will claim it does not apply and go for a false claim. I agree that there is a possibility that the policies were not suitable b ut they should have read the text, I would also say did they take life insurance, was it suitable for them to have a mortgage? You can see a flood of things coing where people go, oh I did not realise that I could lose the house, which you do not own if there is a charge over it. It just shows that the UK is going the way of the USA with a claim and blame someone else whilst taking no responsibility for ones own actions. At the end of the day we will all pay for the money to be returned and in the future on goods & services.

CornishWander

Not enough info here, surely you knew what you were doing as PPI on credit cards is very optional. On mortgages banks did push the claim like with life policies that they would not lend unless you took theirs or a tied agent version. But again it is a case of people not making clear there employment or personal circumstances when discussing so how would the salesman know. Later on questionnaires did flush some of this out but I go back to buying goods or even houses, they might not always be the best thing in terms of what they give you, all depends on circumstances.

Bonnie2009

I have never ever been asked by Lloyds "Do you want or need insurance cover in case you are made redundant or die?" I have a lot of cover in my job and my job has really good sickness benefits. I'm at no risk of redundancy, given the job I do (luckily.) They always knew that. The person who always dealt with me was fired.

Alpine_Star

CornishWander wrote: »

I agree that there is a possibility that the policies were not suitable b ut they should have read the text.........surely you knew what you were doing as PPI on credit cards is very optional

Gosh! Really? Well you best tell Lloyds Banking Group and their legal counsel that they won't be having to shell out three thousand million pounds after all then.

CornishWander

Bonnie2009 wrote: »

I have never ever been asked by Lloyds "Do you want or need insurance cover in case you are made redundant or die?" I have a lot of cover in my job and my job has really good sickness benefits. I'm at no risk of redundancy, given the job I do (luckily.) They always knew that. The person who always dealt with me was fired.

Still seems like you are making assumptions that you will never need PPI yet you took it when given but now want a get money back after having the 'potential' benefit for a number of years. I am only saying that a number of people blindly accept what is put in front of them, again be responsible for your actions. Would it be right for someone who is recently retired to making a claim on the basis that they 'may' not have needed the policy in the first place as were always employed.

PS: Does that mean I can claim back on my large MIG payments from a number of years ago on the basis that I personally did not need it, it was really the lender who needed it (this was raised a few years ago as well). I said there are other areas that could be raised as an issue based on the PPI issue. How about HPI, thats another good one.