Lloyds TSB loan ppi Denied.

y2dom

Hi there,

Firstly a few months ago i put a complaint in for the PPi on my loan basically been told that if I didn't take PPi I wouldn't be allowed the loan.

Fast forward to today, I get the letter from them saying I haven't been successful.


A piece of background, I took a loan out in 2008 (for an undisclosed sum), anyway I got told unless i took out PPi on it, at first I stood firm and said I didn't want it but as neither of us would back down I eventually did.

I have been in the same place of employment since i have had the job, not missed a payment apart from Payment Holiday.

My current work give me full payment up-to 6months if i go sick.

What direction should I go now?

Thanks,

Dom

di3004

Hi there

Sorry to hear this.

May I ask what reasons they gave to reject your complaint?

Did they give you a detailed explanation on why they did not agree?

And was this the final decision?
Sometimes even in a final decision they give you the opportunity to give further information.
I would write back and stand firm on this now and ask them to reconsider by 14 days, then tell them you will otherwise make your complaint to the FOS.
Try to give them any further details if you can and if you think they have overlooked your complaint then tell them that as well, good luck.

[EMAIL="Customer.Care.Insurance@lloydsTsb.co.uk"]Customer.Care.Insurance@lloydsTsb.co.uk[/EMAIL]

y2dom

Hi again, Sorry was in a bit of a rush last time.

He is a copy of the letter they sent
imageshack.us/photo/my-images/695/lastscanbn.jpg

(copy and paste link, as it wouldn't let me post a link)

Would it be best to write or email them back? I wrote to them with my initial claim for PPi.

My original thread : forums.moneysavingexpert.com/showthread.php?p=43956232#post43956232

amersall

What were the reasons you gave for mis sell? look here http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step2 for any that you can use,and get back in touch with anything you can add to help your case.

y2dom

Hi Amersall,

I put in the claim that I believe i was mis sold as i was told that i couldn't have the loan unless I agreed to the PPi basically.

I described more in depth on the claim form.

magpiecottage

y2dom wrote: »

I put in the claim that I believe i was mis sold as i was told that i couldn't have the loan unless I agreed to the PPi basically.

That could be a reason to uphold a complaint if you can persuade whoever is looking at it that it is true.

The difficulty is likely to be lack of evidence.

di3004

Hiya

Thanks for posting up your letter, just had a read now, but you can write back and give them further info, even though they have given you the opportunity to complain to the FOS now as well.

I would provide them with more details if you can and ask them to reconsider.
Did your employer cover you for sickness?

If you don't feel the policy was sold in your best interest then tell them so as well.
If the policy was not discussed in order for you to make your own choice of taking this out or not, this should have been optional and not made the condition of the loan.

Anything further you can think of, ask them to reconsider.

Good luck.;)

roonaldo

y2dom wrote: »

Hi Amersall,

I put in the claim that I believe i was mis sold as i was told that i couldn't have the loan unless I agreed to the PPi basically.

thats unlikely as in 2008 you would have been given a statement for demands and needs that states it was optional. The lloyds cca also had a seperate optional ppi box, so on that basis it was an easy defend.

furthermore in 2008, PPI complaints were booming and banks were starting to become very cautious of how ppi was sold, its really unlikely you were told you had to have it, that was a sales practice long gone.

kittiej

If they completed a demands and needs form they should have found that he would be entitled to company sick pay and possibly did not need the PPI?

y2dom

roonaldo wrote: »

thats unlikely as in 2008 you would have been given a statement for demands and needs that states it was optional. The lloyds cca also had a seperate optional ppi box, so on that basis it was an easy defend.

furthermore in 2008, PPI complaints were booming and banks were starting to become very cautious of how ppi was sold, its really unlikely you were told you had to have it, that was a sales practice long gone.

I am being completely honest in saying I was sitting there and told the bank manager I didn't want it at all. Her reply was if you don't take the PPi then i cannot give you this loan.

They were her exact words. I was backed into a corner, i needed the loan, but didn't want the PPi. So had to sign...?

y2dom

di3004 wrote: »

Hiya

Thanks for posting up your letter, just had a read now, but you can write back and give them further info, even though they have given you the opportunity to complain to the FOS now as well.

I would provide them with more details if you can and ask them to reconsider.
Did your employer cover you for sickness?

If you don't feel the policy was sold in your best interest then tell them so as well.
If the policy was not discussed in order for you to make your own choice of taking this out or not, this should have been optional and not made the condition of the loan.

Anything further you can think of, ask them to reconsider.

Good luck.;)

Hi thanks for the advice, i will pen another letter and see where that gets me.