PPI Reclaiming Discussion Part 5

amersall

sugarpuss27 wrote: »

Hi All at last had a reply from Tesco re PPI on our loan. They have found that we were given insufficient information about the PPI when it was added to loan. They have made an offer of 1391.77 which is a return of all the insurance premiums that have been paid, this includes 205.63 which is the 8% interest. They will reduce the monthly premium which is what it would have been without the PPI. The figure of 11186.14 is correct but I am not sure if this is all they should be doing. Any advice please as I have to sign and send back confirmation of acceptance. Thanks in advance.

As the loan is still running you get the whole PPI amount taken off the loan balance, this is why the monthly payment has gone down on the loan, you get the 8% and the PPI monthly payments you have made to date back to you. This looks right.

amersall

tiffinqua wrote: »

Hi all,
I'm just a bit confused as i rang lloyds tsb directly yesterday.
I took out a mortgage in 2005 with their advisor in branch,& i do remember her telling me that i had to have protection insurance.
She added the insurance on to the mortgage & i pay a seperate anount of £54.23 per month for this.
I also clearly remember that she did not tell me i could buy the cover elsewhere.
When i rang yesterday,after been on hold with lloyds for quite a few minutes while they checked the mortgage details,i was then asked the reason why i wanted to complain.
I replied that i hadn't been told by the branch advisor that i could purchase the insurance elewhere.
Her reply was simply that they would contact me within 10 working days...that was it.
After i put the phone down i have now started worrying because it was just such a short conversation,no other questions at all...what do you think..?,do i have a valid claim.?
Thanks.

See what they come back with as you have put the complaint in now.
MPPI that is paid monthly is not easy to get back, it depends on what it covered and if you had to have it as a condition of the Mortgage, having said that, you never know.

amersall

tich2 wrote: »

Hi all,
I hope I can get some help in understanding my current situation.
My wife and I have had many loans from Lloydstsb over the last 10yrs as these have always been our bank.
I called them yesterday to discuss the loans and they told me I had 4 loans in my name in the past with PPI and 2 loans in joint names with my wife with PPI.
They took lots of details from me with a very nice lady and asked why I thought I had been sold it incorrectly and I advised her we have always been told it will help the decision with the loan and also that we needed it incase we were sick at work etc. I told the lady my wife and I are both paid 6mths full pay and 6mths half pay in our jobs with local government.
She told me I will get a letter in a few days for confirmation of complaint and then it will take them 8 weeks for a decision.

Does this sound anything that they may pay out on?

Also I have just checked a couple of my mortgage agreements that are also with Lloydstsb and the say I have taken out payment protection plus. Is this the same as PPI? Thanks in advance. Tich

If you were mis sold the loan PPI then they will pay out, if they reject then post back here and we will help you more.

Post the Mortgage PPI question here
http://forums.moneysavingexpert.com/forumdisplay.php?f=187
They can help you more with this.

sugarpuss27

amersall wrote: »

As the loan is still running you get the whole PPI amount taken off the loan balance, this is why the monthly payment has gone down on the loan, you get the 8% and the PPI monthly payments you have made to date back to you. This looks right.

Thanks amersall, they actually will be sending a cheque, I thought they may take it off the balance. So does that mean when I ring up for a settlement figure it should have been reduced by the PPI amount also. Sorry trying to get my head round this and being a bit dim!

katiecoulson

after my post the other regarding my ppi i toolk out with tescos i got a letter the day after saying they are still currently unable to provide a response, the reason is my complaint it presently being worked on by a case handler. They have sent me info for ombudsman if im unhappy with the service. should i just wait and see what they come back with? thanks

bubbles_burst

Hi , first post on here, I sent a claim for miss-sold PPI, on a CC, to Lloyds TSB around about the 15/03/12. I did not recieve any confirmation that they recieved my complaint but I did recieve a phonecall from some one from LTSB stating they were investigating my claim and were looking for more information. This phone call was 4 weeks ago .Is this usual ?? How long do LTSB usually take to respond with a yes or a no as I think the 8 weeks are now up .Hope someone can help.

taxgirl_2

Can anyone offer any advice/help, we took out a business loan with Lloyds TSB and repaid in full more than 6 years ago. We were mis sold PPI as my other half had an accident during the loan period but didn't know to claim until a chance meeting in the street with the bank manager, and payments to cover the loan were made to us retrospectively. I don't have the loan paperwork and Lloyds are being very awkward about giving us the details. I know that we have made a claim and that the loan has ended but surely we still have a claim. Thanks

Octonut

I've heard nothing from Barclaycard and have had trouble getting hold of them. I finally got through today and they haven't got my questionnaire on the system, "it mustn't have been delivered" and asked if I could send it again. Then I told her that actually it was delivered by recorded post and signed for on the 4th April. She had another look and lo and behold there it is on the system. It has been "missed" and she will send it over today.

I told her that the 8 weeks are running out rapidly....

I understand they are busy but to put something on the system and then for it to get ignored isn't on.:mad:

dolphingazer

Octonut wrote: »

I told her that the 8 weeks are running out rapidly....

I understand they are busy but to put something on the system and then for it to get ignored isn't on.:mad:

It does seem to me that they(the banks) seem to be using excuses everywhere at the moment. they must be overwhelmed with complaints but you are so right to be cross. It's your money:)

[Deleted User]

Octonut wrote: »

I told her that the 8 weeks are running out rapidly....

Don't forget this is not a deadline, all it means is that you could (if you wanted) take this to the Ombudsman after eight weeks. Not much point if they've only logged it today.
My own acceptance letter has been lost by HSBC. I've now got to start another four week wait once I send a duplicate
The Bank's reason for losing my letter? I sent it recorded delivery!:mad: