Lloyds TBS PPI

kelly993

Hi

I am just wondering if anyone could help or has been in a similar situation..
I took out a loan with Lloyds TSB for £9000 in 2003, I have had the credit agreement sent to me today and it shows that the 'NO' box has been ticked for optional loan protection. There are also another 2 boxes next to this which state 'Premium advances as part of loan' neither of these boxes has been ticked. I have sent off an SAR to Lloyds today no doubt this will take the full 40 days! My concern is that I specifically remember a very pushy lady who sold me the loan indicating that i probably wouldn’t get it without loan protection and due to my age and the fact that I had no been employed all that long a time I shout have it. It was a consolidation loan and I was so desparate to get it I am almost certain I agreed. I then remember her going through a whole load of questions about my health etc I am wondering why these questions would have been asked if she was not looking to apply the loan protection, does anyone know if there would have been any other reason for all these questions and if anyone knows what the 'Premium advanced as part of loan' means? I don’t have any other paperwork relating to these accounts as because I went into debt management I got rid of it all when all my accounts were paid off because I didn’t want the reminder of my 7 years of debt hell!! know I wish I had kept the reminders in the loft!!
Any help would be appreciated

amersall

Hi there, you dont need a SAR,you have the account number on the agreement they sent,that is all you need.Does it mention ppi amounts on the agreement?.

The no box for ppi was ticked,you clearly did not want it,put a copy of this in with your claim,look here for reasons for mis sell and if anymore apply, then put a claim in.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step2

Ring them and they will take this over the phone.
http://www.lloydstsb.com/payment_protection_insurance_complaints.asp
The questionnaire is also there.

kelly993

Thanks for your reply Amersall
The reason I am getting the SAR is because I actually have no idea what payments were going out on this loan other than my monthly repay which was about £190... I will admit to be horrific with my finances when I was younger! Basically although I remember this conversation I think I should have proof that they actually went ahead and put the PPI on as the loan agreement has the no box ticked. I am wondering now if this conversation I had lead to them selling me a stand alone policy which I am hoping the SAR will show up if this is the case. I also don’t understand what those other un-ticked boxes meant. If they didn’t actually put it on then fair enough but Lloyds became daemon debt collectors when I was in trouble and I just don’t trust them at all in the slightest. If they really didn’t put it on then I am wondering why all the health and employment questions or perhaps she was just nosey!!

amersall

Right,i understand now.
What does it say at the side of premium advanced to the loan.is there a figure?,this could be the ppi and if it is ,it looks like it has been added to the loan and paid back over the whole term.

Do you know what the total loan amount was? if you do and post it on here with the monthly payment you were paying the apr and the term of the loan,then Niggly will tell you if you were paying ppi and how much a month it was.

kelly993

There is no figure, the Optional Loan protection box is ticked 'No' then there is no tick in either the yes or no box for 'premuim advanced as part of loan'. The loan amount was £9500 the monthey repayment was actually £149.22 (not £190 as I said earlier, this will teach me to have the paperwork handy!) The agreement says 'you will be charged a fixed rate of interest on the total loan of 0.23% per month, then next to this is states 'annual percentage rate 2.8%. About 6 months after getting this loan I went into a debt restructure programme so all the payment amounts change and the loan was extended. Origianlly the payment terms were 69 montley payments. I am thinking that perhaps they really didnt put the PPI on it would just make that conversation I had really strange! Thankfully I am now much better with my finances and this will never happen again.

carole.uk

can anyone tell me how long it takes to get a PPI claim from Lloyd's tsb.. i spoke to them on the phone about 3 months ago then they sent me a letter within 2 weeks
saying they were dealing with it.. not heard anything since.....

neenmarie

Hi

I sent my claims in March, had a letter in May to say that they have an extension of time and I would hear by the end of August! Yesterday I had my offer letter of £1236, i'm so pleased :j

neenmarie

Sorry just wanted to add that I did send a email to customer services and the CEO asking for an update,which I think helped as it brought my case to the front of their minds and bobs your uncle I had my offer letter 2 weeks later! Give them a quick polite email asking for an update, it might speed things up for you! Good Luck !! xx

The_Marksman

neenmarie wrote: »

Hi

I sent my claims in March, had a letter in May to say that they have an extension of time and I would hear by the end of August! Yesterday I had my offer letter of £1236, i'm so pleased :j

:rotfl::j:beer: WELL DONE :beer::j:rotfl:

The_Marksman

carole.uk wrote: »

can anyone tell me how long it takes to get a PPI claim from Lloyd's tsb.. i spoke to them on the phone about 3 months ago then they sent me a letter within 2 weeks
saying they were dealing with it.. not heard anything since.....

Give them a ring or email for an update, but they have been granted a 16week extension and most will hear the end of August

carole.uk

thanks guys just checked my old letters was May I contacted them and 1st June they wrote to say they were looking at it mmm.. just noticed the letter says looking into it not dealing with it ...