LloydsTSB PPI Payment

Miss_Marple_2

Nuttygooner wrote: »

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!

Sounds hopeful - fingers crossed for you !

To join in the time line calculations :

Offer letter dated:23/08/11
Calcs letter dated:16/09/11
Payment received : ( I'll update when I actually do get payment !)

Nuttygooner

Miss_Marple wrote: »

Sounds hopeful - fingers crossed for you !

To join in the time line calculations :

Offer letter dated:23/08/11
Calcs letter dated:16/09/11
Payment received : ( I'll update when I actually do get payment !)

Okay, here's mine:

Offer letter dated: 19/08/2011
No calc letter, but on offer letter interest was dated to 02/09/2011
Something actually happening: 06/10/2011

Ipswich1984

Offer letter received: 27/08/11
Calculations letter: 01/10/11

Email from customer care on 03/10/11 to say my payment was being done. No payment as yet though.

Any idea how long it takes to go through the BACS system.

Roon101

I have had my offer letter and the interest is dated up to the 17th October. Going by the some of the posts on here, i am not expecting my money then, more realistically November / December. I take it they will automatically re-calculate the interest?

Also i have another claim which has been rejected. I had PPI on a loan which was about £142 a month. I had made 6 payments before realising through these forum's that i was being ripped off. So i called Lloyds and cancelled the PPI. However my claim for the 6 payments i did make has been rejected, with Lloyds saying they have no record of me having the insurance on this loan. Surely they'd have on record that i did and then cancelled it?? Im not going to let this lie as i know i made 6 payments.

Clark_Kent

I had my agreed figure sent to me on Sept 23rd....Last Friday, I wrote to them explaining the awarded money will go towards paying other debts, this morning, the PPI refund of £6800 was in my account.

Good luck to all you other claimants.

kerrirobberts

Clark_Kent wrote: »

I had my agreed figure sent to me on Sept 23rd....Last Friday, I wrote to them explaining the awarded money will go towards paying other debts, this morning, the PPI refund of £6800 was in my account.

Good luck to all you other claimants.

Did you state it was towards your debts with them, or towards debts in general? This might be a way to speed up the process.

Edit:
I have just sent the customer services team an email to tell them that I am going to be using the refund to pay them back my overdraft and that I have x amount of debt that will be halved when I get their refund. I also stated that I'm fed up of being fobbed off by the PPI team.
Let's see where that gets me.

Miss_Marple_2

I've just realised that my calcs letter said that the details of changes to my current loan ( without PPI, but it refinanced a loan with PPI) would be made within 21 days, which will be tomorrow, so I shall wait to see what the post brings me over the next few days ( probably nothing !)

Clark_Kent

Kerri, I didn't specify who the debts were with, I just told them I would use the funds to settle current debts. If you mention "Collection Agency" then that may help. Thats the wording I used, which I copied from someone else.

I hope this helps.

funny_bunny_2

Offer letter dated 25/07/11
No payment yet!
Was told I'm on the priority spreadsheet and payment will be 7-10 days

kerrirobberts

Clark_Kent wrote: »

Kerri, I didn't specify who the debts were with, I just told them I would use the funds to settle current debts. If you mention "Collection Agency" then that may help. Thats the wording I used, which I copied from someone else.

I hope this helps.

Thank you, I shall write them a letter when I get home. The collection agency is for their loan anyway. I'm really pleased that they're giving me the full refund though as I can pay off the highest interest things first, which isn't my now 0% interest collection agency for them