LloydsTSB PPI Payment

scamander

Mumm2,

A day sans caffeine so sorry for being a bit slow - do you mean that the majority of it was sent to you via cheque? I am not in arrears so I'm hoping thati'll mean they won't take anything out to pay on the loan!

mummum2

scamander wrote: »

Mumm2,

A day sans caffeine so sorry for being a bit slow - do you mean that the majority of it was sent to you via cheque? I am not in arrears so I'm hoping thati'll mean they won't take anything out to pay on the loan!

Hi, I think you should be fine! as you're not in arrears, technically you shoudl get the whole lot back!

Mine is slightly different as I'm on DMP. As I defaulted really, they had to take what was 'defaulted' bringing my payments up to date if you like, then pay me the blance. Hope this makes sense!

scamander

mummum2,

thanks for that - no idea when it will happen though - would be good if we could do some sort of poll/graph to plot on average waiting times!!

emer

Sorry to 'hijack'. Can I ask how you all initiated your claim. Im at a loss how to begin. Can you read my issue and see if its worth making a claim?

I went into a branch of Lloydstsb in Aug 2005 in the hope of having a loan to pay off an outstanding cc debt. rather than ask me how much I needed to borrow, she asked me how much I could afford to pay back each month- I said approx £220 and I was quoted for a 7k loan (paying back 9.5k). No mention of PPI at all, and I was so naive that I didn't mention it (didn't even know what it was). She also put a hard sell on me to purchase life insurance off her colleague - booking an appointment to go and see this person straight away-

A couple of months later I contacted Lloyds Loan centre to see if I could have the PPI removed (I understood what it was then and realised that I didn't need it as I had a good pension through work with life cover and illness). I was told that I would have to reapply for another loan - it wasn't possible to take the PPI off.

So I paid my loan and finished payments some time ago. I have ummed and ahhhed about whether to try and make a claim- is it worth it? I don't know. I have moved house and cannot find any of my loan documentation . How can I get hold of this. Sorry for all of the questions- How much would PPI have been possibly on this amount? as I say- I don't have my documentation.

ANY advice would be wonderful.

Clark_Kent

I have also had the letter agreeing a pay out figure. A fellow claimer, wrote to lloyds, explaining that the refunded monies, will be used to settle other debts, and her payment was made relatively quickly.

As a "Plus" point for Lloyds, a few weeks ago, they charged me £40 for a failed payment going out of my account (Lack of funds) I had previously spoken with their "Customer support unit 0845 600 4583" and they had arranged to suspend any account charges (Not account fees) due to me being on JSA.
So I was a tad "Miffed" when they deducted the £40, and I wrote to them. I explained my financial situation and they have now refunded £491. They saw I had started receiving JSA payments in April, so have refunded all charges and interest from April to the present date.
I also didn't realise at the time that all housing and jsa was protected. They can't deduct fee's or charges from any benefits.

dustybin71

Hi all,
well I am going to tell you my tale ......
I initially sent in my letter to them on April 23rd 2011, and got the usual, 'we are looking at your claim' letters and informed there was a 12 week turnaround on decisions. I waited patiently and called LTSB in July, only to be informed that they had made a decision and I was due to receive an award. Apparently this had been sent out in a letter dated mid July, told them I had not received this letter and the bloke I was talking to said he would get it resent to me. 3 times this letter was apparently sent out to me and I have received....none of them! I was told this award would be in my bank within 21 working days, which would mean the money would be in my bank mid August.
Mid August came and went, and still no money, so another call to LTSB to be informed there is a slight backlog, but to expect money by end of the month. Waited patiently until 3 Sept or there about and called them yet again as still no money!!!!! Got the same story, sorry, but a slight delay, need to be patient for a couple more weeks! I then sent a stroppy letter to them stating I now wanted then to recalculate my award to take into account loss of interest as well as costs of phone calls....to date this is still caught up in their backlog as apparently its not only in refunds that there is a backlog!!!!
Waited not so patiently, but waited until mid Sept before calling again, only to be told, sorry will be another couple of weeks. I went mental at hearing this as feel they are really taking the michael now, so demanded to speak to manager, who gave me the same old spiel ' we are working round the clock to pay you, but there is a backlog, will be with you in a couple of weeks!' Told her this was not good enough as while I am waiting for payout, I am still having to make payments on loan this claim relates to, so she authorised a cheque of £80 to pay half my loan for September as compensation for way this has been dealt with. She was also mailing refunds and prioritising my payout.
Still nothing, so called yet again today, only to be told I was on the priority list (been on it a month now) and SHOULD get payment in next 'couple' of weeks..............time will tell!

Today I also Phoned loan department to get early settlement figure and was informed I could not settle loan early as I have a claim open on it, so I called and spoke to manager at PPI department, she asked what she could do.....pay me my money in full today?! I replied........'sorry we cannot do that as you have a running loan with us'......!!!!!!?!?! Round and round in circles I feel I am going with bl**dy LTSB. I will be paying loan off as soon as I get payment and closing my account as feel the way they are treating customers is shocking.

Will keep you all updated on my battle with LTSB!!!!!!!

DavidWallis

scamander wrote: »

mummum2,

thanks for that - no idea when it will happen though - would be good if we could do some sort of poll/graph to plot on average waiting times!!

I think this is a good idea. What we need is the date of the 'calculations' letter and the date of receiving the cheque.

I've been reading this forum (and this thread in particular) for a couple of weeks, but I've not seen any posts that say "I've got the cheque". Now, I'm not sure if this is because people aren't posting to say the've got the cash, or if nobody who reads this forum has had a cheque.

If we can collect some data, I'd be happy to do some plots (being an ex-physicist, I can do plots).

bruce5755

DavidWallis wrote: »

I think this is a good idea. What we need is the date of the 'calculations' letter and the date of receiving the cheque.

I've been reading this forum (and this thread in particular) for a couple of weeks, but I've not seen any posts that say "I've got the cheque". Now, I'm not sure if this is because people aren't posting to say the've got the cash, or if nobody who reads this forum has had a cheque.

If we can collect some data, I'd be happy to do some plots (being an ex-physicist, I can do plots).

My calculations letter dated 02/08/2011, no payment made yet 06/10/2011.

kerrirobberts

Phoned them this morning "your payment can be between 4-6 weeks, as you changed your payment method at the beginning of September it is likely to be another couple of weeks" so I said that they need to recalculate the interest, which is apparently done automatically. Still no money, still waiting. Original letter dated 5th August.
Although he did say that they are getting through them quicker now!?!?!?

Nuttygooner

Well, here's an interesting development.

On Monday, I called Lloyds and spoke to someone called Hugh, basically explaining a few issues I am having at home, and need my refund urgently. He quoted a different refund figure to what was initially stated on my letter (more than twice as much!), and said that what they need to do is reduce my loan amount, as my PPI was frontloaded, and as I had been refinancing my loans, I am still, in effect, paying it. This way my loan will be in the state it would have been had I not taken out PPI. Apparently, this correction is one of the final stages, so I should be seeing my cheque imminently (sp?).

I have just checked my loan account this morning, and the outstanding balance has been reduced by just over £1000 overnight... Magic!

Hopefully this means my cheque will be arriving very soon!