PPI Reclaiming Discussion Part 5

mobutt

hi looking for some help pls. ive got final response from lloyds for £3.294.72..... now to date my loan states i have just under £1700 left to pay. my question is the ppi was added onto the loan at beginning, so does this mean they will take the amount of ppi added off the loan amount and i will get the £3,294.72 or will they use that to clear the balance ? (probably a stupid ? but i just cant get me head round it )

smithy67

Hello everyone.
This will be short and sweet.
Right iv had a few loans and credit cards plus motor insurance in the past.
I have read through the ppi reclaim page all i want to know is i have zero paper work i mean nothing at all and am not to clever am getting a little overwhelmed by what you have to do could someone just put a quick step by step what i have to do when you have no paperwork or anything all i have is an address and a name. i know i was sold ppi but am just a little clueless at the moment.
Thank you

[Deleted User]

smithy67 wrote: »

could someone just put a quick step by step what i have to do when you have no paperwork or anything

http://www.moneysavingexpert.com/reclaim/ppi-credit-card-insurance
and
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Claireabelle_3

Hi, I wonder if anyone can help me!
My husband has complained to Lloyds banking group about PPI on his credit card; they have replied stating that the card and PPI were taken out before they were regulated by the FSA and that they feel they did not do anything wrong in the selling of the product and PPI. I would just like to know is it worth taking this to the FOS or not?
Thanks!

di3004

mobutt wrote: »

hi looking for some help pls. ive got final response from lloyds for £3.294.72..... now to date my loan states i have just under £1700 left to pay. my question is the ppi was added onto the loan at beginning, so does this mean they will take the amount of ppi added off the loan amount and i will get the £3,294.72 or will they use that to clear the balance ? (probably a stupid ? but i just cant get me head round it )

Hi there and welcome

Well done on your success.

It can differ with some banks, but going by what you have said, as you have a current ongoing loan account, for them to have given you a new balance, then it does look like they have used the refund towards the loan, however do check on this with them by contacting them directly, tell them you just want to know if you will be getting anything back (directly to you) because usually you should at least receive any interest.

It could just look like the way they worded it, but personally I would contact them just to make sure, and if they said they used the refund towards the open loan account, ask "what about any interest".

Good luck and well done!:beer:

di3004

Claireabelle wrote: »

Hi, I wonder if anyone can help me!
My husband has complained to Lloyds banking group about PPI on his credit card; they have replied stating that the card and PPI were taken out before they were regulated by the FSA and that they feel they did not do anything wrong in the selling of the product and PPI. I would just like to know is it worth taking this to the FOS or not?
Thanks!

Hi and welcome

Can you remember the year your hubby taken this out.

I am aware that before the FSA taken over in Jan 2005, that they were regulated by GISC prior to these, so depending how long GISC were in affect before that I think.
But........many of my accounts with them, were taken out in the mid 90's and have been successful, so if it's the case that your hubby taken out the account in the 90's. maybe you should re-write and mention the fact that you are aware they were regulated by GISC prior to the FSA.

However, if it was taken out in the 80's up to the mid 90's, I am not sure if the bank were regulated in that time but worth finding out here.

Good luck.

cappo

mofopants wrote: »

Had our first success!

MBNA for cc PPI that husband had. He was sold the credit card on his graduation day and added the ppi even though he didn't even have a job.

So we are getting £1926.80! Will come in handy

Well done:beer::beer::beer::beer::beer::beer::j:j:j:j:j;);););):D:D:D:D:D:T:T:T:T:T:):):):):)

jireh

Hi there, mofopants can you tell me when your husband took the cc?

amersall

mobutt wrote: »

hi looking for some help pls. ive got final response from lloyds for £3.294.72..... now to date my loan states i have just under £1700 left to pay. my question is the ppi was added onto the loan at beginning, so does this mean they will take the amount of ppi added off the loan amount and i will get the £3,294.72 or will they use that to clear the balance ? (probably a stupid ? but i just cant get me head round it )

You will get the amount they have offered you as this is the PPI that you have paid to date, as the loan is still running the whole PPI amount will be taken off the loan and the loan reset, it could be that the whole PPI taken off will leave the loan with a zero balance.

amersall

smithy67 wrote: »

Hello everyone.
This will be short and sweet.
Right iv had a few loans and credit cards plus motor insurance in the past.
I have read through the ppi reclaim page all i want to know is i have zero paper work i mean nothing at all and am not to clever am getting a little overwhelmed by what you have to do could someone just put a quick step by step what i have to do when you have no paperwork or anything all i have is an address and a name. i know i was sold ppi but am just a little clueless at the moment.
Thank you

Motor insurance is not a mis sell, moneyineptitude has helped you with what to do with the rest.