LloydsTSB PPI Payment

partner99

I have today received a new updated offer letter. The new amount is £9357. Sounds good untill you read at the bottom of the page, the following;

"We have now issued payment instructions to the Personal Loan Service Centre to restucture your loan accordingly; any payment owed to you will be sent directly to your loan funding account following this. This will be completed within the next 21 days" (can I have this in English please.....LOL)

Called them up to fid out!!!

What this all means is that where I was claiming for 3 loan accounts, of which 1 is active and the other two are closed, I will only get the refund plus interest for the 2 closed accounts and my active account will be reduced to show the refund plus interest. My current monthly repayment stays the same. This means the loan will finish 2 years earlier.
They couldn't give me a figure of what I will recieve back in cash, but as I looked at my accounts online this morning, I noticed that my loan account has dropped about £6500. So working it out roughly I should get about £3000 back.
Better that a slap in the face. Just a shame I had already spent the £9357 in my head.
But Im sure we've all done that................

The_Marksman

partner99 wrote: »

I have today received a new updated offer letter. The new amount is £9357. Sounds good untill you read at the bottom of the page, the following;

"We have now issued payment instructions to the Personal Loan Service Centre to restucture your loan accordingly; any payment owed to you will be sent directly to your loan funding account following this. This will be completed within the next 21 days" (can I have this in English please.....LOL)

Called them up to fid out!!!

What this all means is that where I was claiming for 3 loan accounts, of which 1 is active and the other two are closed, I will only get the refund plus interest for the 2 closed accounts and my active account will be reduced to show the refund plus interest. My current monthly repayment stays the same. This means the loan will finish 2 years earlier.
They couldn't give me a figure of what I will recieve back in cash, but as I looked at my accounts online this morning, I noticed that my loan account has dropped about £6500. So working it out roughly I should get about £3000 back.
Better that a slap in the face. Just a shame I had already spent the £9357 in my head.
But Im sure we've all done that................

Good News & this is the way they are going to calculate the ppi with active loans I believe

Quick Point to everyone ........... With the new Calculations that ar being sent out this week & next, unless its wrong dont phone the complaints team, will explain later when im back from the gym ;)

kevincasino

Hi
Been waiting for £14,000 since the offer letter on 12h Sept, quite a long time as I'm skint. During this time I have been charged £468 in charges by Lloyds. My branch manager has been really helpfull and she is trying to get the charges included in my eventuall payment.

I have been told the usual lies BACS, CHAPS, cheque, check your account , its due to go in any day etc. I got told my favourite lie today.

" As you have declined the previous offers, we are going to have to recalculate everything and make another offer. This could take upto 28 days "

Wow. I'd love to know when I declined this offer as it clearly says on the letter " you do not have to do anything to accept this offer "

After 2 days and hours of phone calls, my branch manager even admitted that its all lies. She is totally gobsmacked by the whole thing.

alkeir

Currently have under 4 quid in my current account and am considering either selling a kidney or doing favours for sailors - neither of which are good choices for a student nurse !

Flash !!!!!!! Can you loan me £2 ?
I`ve tried for a small short term Lloyds TSB loan [without PPI] to tide me 0ver until my
£8400 + extra interest arrives [on month 8 now] & they refused me as it was`nt in their best interest to grant me a loan they know i`ll pay off shortly. Thanked him for not helping me out of the pit they kicked me into.

sexyvicchic

The_Marksman wrote: »

When did you start your complaint & date of your loan if you dont mind me asking?

Claim was put in on may, upheld 24th sept, offer letter october, Loan is still open from Feb 2009

Thank u xxxx

JROCK_2

Even though I know my money will not be in there. I can't stop checking my bank account, hoping that the little "-" will just F*ck Off. :(:(:(:(

kevincasino

They did make me smile today. When asked what I was going to do with the £14,000, I was going to pay off all my debts , which comes to £10,000.

Lloyds manager: " Excellent, that leaves you £3,000 , what are your plans for that" ?

Me : " I'm getting married next year, so I'm saving for that "

Lloyds manager " Have you thought of saving with Lloyds. We are offering excellent ISA's at the moment "

ME : "........................................................ errr , no thank you "

deemcd

Hi, i received a letter on 26th oct 2011 offering a payout of £10200
They said they would pay by cheque! i phoned to query when i should expect payment and they told me 28 days and that they dont issue cheques any more only bacs! i received a cheque for full amount 2 weeks later and promptly depositted it into my account. However the cheque has bounced and they cant give me an answer as to why! i put it into my lloydstsb account and i just cant believe it. has anyone else had this problem? i thought it seemed too good to be true.

therustybullet

After recieving my refund:beer::beer::beer::beer: yesterday I have finished writing the letters which I am sending to FOS and any other places where I can vent my anger about how long it has taken (88 days). Hopefully it might speed up the process for the rest of you.

Good Luck.:j:j:j:j:j:D

sexyvicchic

errrrrrrrrrrr quick question..

My loan is still active, My PPI was taken out of the bank in a seperate payment. I was told that I'd get the money from the offer letter in my hand (well a cheque u know what I mean lol) But from what I'm reading here u guys seem to be suggesting they'll take the money I'm owed off the balance of my loan??? Please tell me thats wrong??

My loan account is fully up to date. I have no arrears and have never missed a payment x