LloydsTSB PPI Payment

dilus

We MUST as a group keep the pressure on, please find below a letter that was posted by beamerguy a while back. Send it to your local MP, the FSA, Government, Media and anyone else you can think of that will act on it. Also add to it your stories about Lloyd's disgraceful delays when it comes to payouts.

Dear Sir,

REF: BANKS AND PPI RE-PAYMENTS

May I draw your attention to this site
http://forums.moneysavingexpert.com/

Then locate
Reclaim Bank Charges, PPI & more where you will see, there have been 392,974 posts
Then locate Reclaim PPI & Other Insurance then ....
PPI Reclaiming Discussion part 4

There are over 1000 pages all relating to PPI and re-payments

Since the Court ruling earlier this year, whilst banks have little option but to repay to consumers, there is a very noticable trait/pattern happening with the way these banks are now handling complaints. There is a huge increase of consumers being told to contact the FOS with their claim/complaint.

I understand now that the FOS are receiving some 2500 complaints a week and resulting in a huge backlog which as the FOS say, could take over a year to clear.
This clearly is detremental to those in hardship who are desperate to receive monies back, stolen from them by the banks

It appears that whilst banks are paying out, it is not a bottomless pit for them and therefore they are now knowingly using delaying tactics and rejecting claims and referring to the FOS ?

I would even suggest that the banks are now running a cartel between them to use these stalling tactics.

The worst offenders in this "cat and mouse" game are
1: ROYAL BANK OF SCOTLAND
2: LLOYDS BANKING GROUP
3: CAPITAL ONE
The smaller institutions also play this game

These banks are fully aware that there is no other avenue for the consumer other than place their complaint with the FOS and they are using this service for their own means to delay payments even though they are aware that there is a huge rise of upheld complaints by the FOS. The more these banks can refer back to the FOS creating a backlog, the more time they have to pay back monies stolen in the first place.

You are of course aware that the banks have committed fraud on a major scale under The Fraud Act 2006 ?

A financial penalty should be applied to these banks if they have rejected a claim yet the FOS has upheld the same claim.
If the penalty was big enough, it would stop banks rejecting Adlib to suite their own purposes.

This method of trading should be outlawed by the authorities as it is not "in the interests of the consumer", It is certainly not in the interests of the FOS if they have such a backlog that could take over 12 months to clear. The banks wil ensure that the backlog grows and grows.

We are already seeing severe reaction to the banking industry with the protests,

It is indeed the responsibility of the Government and the Authorities such as the FSA to put an end to such mal practice the Banks are using against the consumer.

What are the authorities currently doing about this under the Fraud Act 2006

We have got to put as much pressure on as possible :mad:

DavidWallis

reallyangrynow wrote: »

david wallis
my dates are exactly the same as yours have you been told about this letter that we are suppose to recieve with new calculations i was told i would have it by this weekend but surprise surprise it never appeared

No I haven't been told about any new letters, calculations or dates. Read about it on here but nothing from Lying Total Swindling B...

Verymadmax

reallyangrynow wrote: »

dilus i agree totally on a different planet. Has anyone with a loan ppi claim actually received any money yet i am satarting to think that there is something very fishy going on and we will never get our money do these people not realise that this money is legally ours

I have received payment for a credit card and 3 settled loans.

I am still awaiting payment for the loan which is still running and i have not received any re-calculation or loan re-structure letters. This seems to be the sticking point across the board.

I don't reckon there is a conspiracy here-i just think that they are wholly incompetent-I think that it just escaped them that the loans would have to be restructured to reflect the interest that has built up whilst we have not been paying the loan amount because of paying the PPI every month. It honestly wouldn't surprise me if this is what has happened.

Does anyone know what the restructuring letter says and how much detail it goes into the method of re-calculating payments?

DavidWallis

Verymadmax wrote: »

I have received payment for a credit card and 3 settled loans.

I am still awaiting payment for the loan which is still running and i have not received any re-calculation or loan re-structure letters. This seems to be the sticking point across the board.

I don't reckon there is a conspiracy here-i just think that they are wholly incompetent-I think that it just escaped them that the loans would have to be restructured to reflect the interest that has built up whilst we have not been paying the loan amount because of paying the PPI every month. It honestly wouldn't surprise me if this is what has happened.

Does anyone know what the restructuring letter says and how much detail it goes into the method of re-calculating payments?

I can see that loan restructuring might take some effort and manpower. However, my loan was paid off years ago. All they need to do is send me the money. I can't see how this could possibly take them more than 5 minutes even if the hand wrote it! Why the delay?

BEN0601

I think the problem that some of us have is that we have current and old loans and all of them are being dealt with under the same claim number. I have 1 current loan and 4 old loans, but as they are all under the same claim number I think that the refunds from all of them will be dealt with all at the same time rather than in dribs and drabs. I am still waiting for any money to come back and will call them today as this is now week 7 from receiving my offer letters.

supacute127

Hi all,
My partner has also been waiting since early September to be paid out having had the calculation letter since then, again it's an existing loan that's still running which we've been waiting to get restructured.

After checking Lloyds online banking this morning it would appear that something has happened to the loan, the monthly payment has gone down from £190pm to £140pm and the balance is showing -£1220, yet it still sayd it has PPI on there!!
Whilst it's great that there's finally been some movement over the weekend it's a little confusing that the balance is now showing a minus sum, the loan is not in arrears so it was our understanding that the monies would be paid to us and not the loan balance.

Has anyone else seen this happen on their loans?

emlet

supacute127 wrote: »

Hi all,
My partner has also been waiting since early September to be paid out having had the calculation letter since then, again it's an existing loan that's still running which we've been waiting to get restructured.

After checking Lloyds online banking this morning it would appear that something has happened to the loan, the monthly payment has gone down from £190pm to £140pm and the balance is showing -£1220, yet it still sayd it has PPI on there!!
Whilst it's great that there's finally been some movement over the weekend it's a little confusing that the balance is now showing a minus sum, the loan is not in arrears so it was our understanding that the monies would be paid to us and not the loan balance.

Has anyone else seen this happen on their loans?

Hey - same thing has happened to me - my loan has reduced (drastically) and now says its £-405 ??. Im wondering whether they have allocated my redress to it?

Can anyone assist with this? My loan is also not in arrears and I had understood that I would get my money from my offer letter and my loan restructured to remove the ppi?

I can see a phone call coming on ....

Emlets

lucygooseyb

Morning all...

after being away for 4 days I was hoping to come back to maybe a letter/response from Lloyds TSBull**** ... but nothing. :mad:

Just out of interest... Has anyone on here who received an offer letter for their Credit cards around September time been paid?

My letter was dated 16th Sept along with my loan one. By reading through the last 5-6 pages everyone seems to be sorted with CC and I'm still waiting on my CC payment let alone my loan one...

I may try and ring them at lunch today - been a while since I tried, woke up in a right grump today so could do with a shout at someone.

supacute127

emlet wrote: »

I can see a phone call coming on...

Let me know what gets said if you do call, my partners too soft and won't call them so be intrested to hear what they say to you

reallyangrynow

well now monday postman has been and you guessed it still no sign of the letter i was promised BEFORE THE WEEKEND if the managers are telling us s*** then what hope do we have of ever getting a straight and honest answer from anyone its disgustin
away to phone them again