Send your questions to Lloyds on PPI

magpiecottage

sugar_lilac wrote: »

When I first took out a loan in 2004 I was told if I opted for PPI, my application for a loan was more likely to be accepted. Is this true or was I miss sold PPI and therefore have a claim?

PS: This was a conversation so I have no proof of what I was told.

If true then yes the complaint is valid. Proof will be difficult but most of these were single premiums added to the loan which are likely to be upheld on those grounds.

marshallka

magpiecottage wrote: »

As marshallka says, you can complain if you have grounds for complaint.

However, statements with cover in, that it stopped some years ago and he was on a pension suggest it was covering a credit card and stopped when he retired.

I would think it likely the application was done on paper and the cover was almost always an opt in on paper.

So I suspect you will find there is no evidence of misselling.

Just out of interest here magpie, what makes you think the application was done on paper for one and what makes you think there was no evidence of misselling? Why could it not be a loan from previously before retirement?

patricia50

Why do LLoyds never inform you whats going on with your claim, even though they say they will. When I first put in claims for ppi on two loans you were asked if you wanted to be informed by text of progress. Not one text was recieved, and they never tell you how your refund is broken down so you can check if its correct. Ive put in a claim for ppi on two credit cards that I was pressured into taking on and they have replied saying they are looking into it and it may take 8 weeks, meanwhile I am in financial hardship and having trouble paying rent, bills etc. Its my money and I really need it back. Lloyds do not seem to care about their customers at all.

magpiecottage

unifan wrote: »

Why is it that these companies who are guilty of mis-selling PPI and who have been ordered to pay it back (and they know who they are) then why aren't they doing it automatically for everyone, why should everyone be forced to go through, what can be for some people, a daunting and stressful complaints/reclaim process at all? After all they have the records that they can check, the same records that they must have to check and provide evidence of when someone submits a claim for a refund of PPI mis-selling. Haven't the banks put us customers through enough by blatantly ripping us all off for many years in the first place?

Not all policies have been missold.

If the product was described in a way that was clear, fair and not misleading. It might be a mispurchase if the customer did not read the description before purchasing but no redress is warranted in such circumstances.

Remember too that ultimately redress will be paid by shareholders (which, in the case of Lloyds TSB and others means largely taxpayers) and/or passed on to other customers in the form of charges.

So simply refunding everybody who took out a policy, whether it is justified or not, would amount to a breach of FSA principle 8 which requires a firm to manage conflicts of interest, between itself and a customer and between one customer and another, fairly.

magpiecottage

Joaoste wrote: »

As a frst time buyer I was forced into taking out PPI on my mortgage via Lloyds as I was told that if I did not have it I would be refused the mortgage and implied that if I did change my cover my mortgage would be invalid. So not only did I have to have the PPI which was forced upon me but I had to pay a premium for it, I could obtain PPI from other sources for more than half the price which would also cover my loss of salary!!! I have until now been afraid to change the PPI in fear that my mortgage would be invalid!!! I am now in the situation whereby if I stop the PPI with Lloyds and use an alternative I will not be covered for up to 6 months, which in the uncertain climate is a gamble I do not feel comfortable taking. If Lloyds are unable to match deals I have seen elswhere are they going to continue to provide the cover for the 6 month period after I stop using their product? After all if I was afforded the choice at the very begining I would not now have to put my family at risk of having no cover and no home!!!

You do not say when you took this policy out but some lenders did offer special deals which were conditional on taking cover one time.

Also, it is clear from your posting that you value the cover because you do not want to be without it.

I am afraid that the fact that somebody else can offer cheaper cover does not make it a missale - any more than Waitrose are misselling because their bread is more expensive than Tesco (if it is - I have not checked).

magpiecottage

clarkey12 wrote: »

I had a mortgage with the Halifax with PPI, I was told to take it out because I had a quadruple heart bypass and a kidney transplant, I am a teacher and would have been paid if I was off work ill. Am I entitled to reclaim this money?

Possibly. If you were told to take it out because you had those conditions which it would not cover then it would be a missale.

magpiecottage

Mollyf62 wrote: »

Lloyds removed my overdraft of £1500 in October 2010 on the date my monthly salary went in to my account causing my mortgage and household debits to go into arrears. It was removed with no notice or word in writing after being a customer with them for 30 years. They also removed £667 from my monthly salary on the 20th of May 2011 for payments of my husbands bank cards, again without any notice and sending my mortgage into arrears again. All of this we believe because we have made PPI claims against Lloyds. I have now switched my account to another bank and will be closing my account with Lloyds in the coming months because of their disgraceful behaviour and lack of interest in my complaint. I will be forwarding my complaint to the Financial Ombudsman and the FSA. My Question is will Lloyds be compensating me for this distruption to my account and the distress it has caused my family? After 30 years loyalty to Lloyds I have recently discovered that their customers and customer service are not a priority!

This is unlikely to be retaliation for PPI complaints - I would be astounded if a financial institution of that size had the wherewithall to match them up even if it wanted to.

However, you do not seem to have been treated fairly and therefore appear to have grounds for complaint - its the same address as you contacted about PPI.

magpiecottage

maryspecial wrote: »

Hi, can I ask was that a Halifax one card? I am about to put complaint in relating to ours. Reason is that my husband has full sick pay etc. We got copy of application but it's like a summary with my husbands signature on it. It says on it he asked for ppi. We have never asked for ppi but can't remember if it was an online, phone call or postal application. We can remember being told that applications more likely to get approved with ppi but cant remember if it was this card or one of our other loans etc.

Generally, credit cards are applied for online or by post - you just fill in a form and nobody speaks to you, so it is unlikely anybody told you that approval was more likely if you took PPI with it.

marshallka

Is this a thread for questions to LLOYDS?

magpiecottage

woodpeckerjack wrote: »

i was made redundant through ill health in feb 2009, i have a mortage payment protection with the halifax and i made a claim. they sent me a form to get filled in by my doctorand then they stated that i could not claim because i had suffered from asthma all my life and i did not tell them when i took out the protection plan 27 years ago, but they are still taking payments for it every month. i have written to them 4 times but they will not reply. they did not at any time ask me if i suffered from any illness when i took the plan out, and i have never claimed before.

Unfortunately, because it was so long ago, there is no statutory protection.

However, if the insurer was a member of the Insurance Ombudsman Bureau you may be able to take them to FOS.

Similarly if it was sold by a bank or a Building Society that was a member of the Banking or Building Societies ombudsman schemes you can take them to FOS.