Llloyds have only paid me the interest ??

moomoo4444

Hi all,
I have had a letter from LLoyds today stating that as i been waiting so long they have added the interest which reads as follows
Refund of premiums = £6408.43
Interest at 8% calculated up until 28/11/11 = £1829.79
Total £8,238.22


Having just checked my bank on line i have only been paid the £1829.79 into my bank ???
Where is the other £6408.43 :mad:

LLoyds couldnt tell me anothing as i have to wait the LLOyds ppi department opens up (great another 50 min wait )
Has anyone heard them just paying this before and how long does the other money now take ?????
This was for a loan that has already been paid off fully
My boobies are sore as they seem to be on them ALL the time GGGRRRRRRRR
anyhelp would greatfully appriecated
thanks

kingswellr

Having sent back the acceptance form on the 6th October, we still have not had my husbands' refund of just under £14,000. My own refund of £2,700 was offered & paid within 2 weeks of returning the form??? What is going on? Has anyone heard anything about HSBC delays in sending out refunds? I have tried ringing the number on the letter, listened to the automated message & told to hold to speak with someone, only for the line to go dead after waiting 1 minute for someone to answer me!!!!

moomoo4444

oh dear , i had my orginal acceptance letter on the 16 sept so i think they have 8 weeks before they pay out ...dont quote me on that though
Good luck with it though x

natsel

moomoo4444 wrote: »

Hi all,
I have had a letter from LLoyds today stating that as i been waiting so long they have added the interest which reads as follows
Refund of premiums = £6408.43
Interest at 8% calculated up until 28/11/11 = £1829.79
Total £8,238.22


Having just checked my bank on line i have only been paid the £1829.79 into my bank ???
Where is the other £6408.43 :mad:

LLoyds couldnt tell me anothing as i have to wait the LLOyds ppi department opens up (great another 50 min wait )
Has anyone heard them just paying this before and how long does the other money now take ?????
This was for a loan that has already been paid off fully
My boobies are sore as they seem to be on them ALL the time GGGRRRRRRRR
anyhelp would greatfully appriecated
thanks

did you get an answer on this? as this is what theyve done to me ive only had interest paid and the bulk of the money nearly £3,700 isnt there?

I presume its because ive claimed on an ongoing loan and they given it straight to the loan department for them to sort it out?

moomoo4444

No not yet , i have looked at some others threads and i think they are obviously checking with the loan company to see if i owe anything ( which i dont )
Funny how all these things take so long when they are all in the same bank !!!!!!!!!

peter50

I got my interest payment into my account on 6th july but up till today i am still awaiting £3299.14p to be paid to me.Getting rather annoyed now!!!!!!!

dunstonh

Are you in arrears, default or had an amount written off? If so, you get the interest but the capital amount of the refund is used against the amount you owe to get rid of the arrears/default/write off.

If not, it may be a delay in finding out if you are in that position or not.

lallychops

Is that the case even if there has been a full and final settlement made on a debt with a third party???

dunstonh

lallychops wrote: »

Is that the case even if there has been a full and final settlement made on a debt with a third party???

If the settlement included an amount written off then usually yes. They can apply it to the amount written off even if they agreed a lower amount previously.

Remember that if you defaulted and it resulted in a write off then you may not have actually paid a penny in PPI as the write off may be more than the amount allocated to PPI. So, being able to reclaim what you havent paid would be unfair.

littleclover

We have only been paid the intrest too...they said they had to send it to lloyds to rejig the loan as there is a small amount owing...we had £1300 paid into my ex's account 3 weeks ago and have had nothing since............i am getting a little upset now with the whole thing....they shouldn't use our PPI payment to pay off the amount we owe as that is a totally separate thing and I will take legal action if they do.... If they was the amount owed then they should put that too us in writing, an insurance account is seperate and thats what the PPI is!!!!!!! They still owe us £5500!!!!
Any ideas how long this will take???

ALIBOBSY

dunstonh wrote: »

If the settlement included an amount written off then usually yes. They can apply it to the amount written off even if they agreed a lower amount previously.

Remember that if you defaulted and it resulted in a write off then you may not have actually paid a penny in PPI as the write off may be more than the amount allocated to PPI. So, being able to reclaim what you havent paid would be unfair.

No that is completely wrong. The rules of offset do NOT allow funds to be paid to a third party END OF. So if the debt was sold to a debt collector its tough on them F & F or not.
The courts are clear as well regarding F & F's it is just that a full and final settlement and by accepting it as such any money written off cannot legally be collected against ever again. The banks will try it on but it should be challenged and not accepted.
Of course this assumes you hold written proof that the settlement was accepted in full and final settlement, without written proof its their word against yours.

Ali x