PPI Reclaiming Discussion Part 5

ShonaM

Hi everyone,

Right so Im just about to right to the FOS about my Lloyds Credit Card PPI CLAIM.

Heres the details so far:
I had took out a credit card when I was a student back in 2003-2006 with Lloyds. I was working part time hours of less that 12 hours per week at my local post office (2003) and then 18 hours at a Jewellers (2006 but was Christmas temp).

I wrote to LLOYDS as I believed I was misold the policy under the impression the policy would of been worth nothing as I was not in full time employement and was a full time student. I was aware the policy was active as it appears on my credit card statement but as to how and when it was sold I have no idea.

Conclusion:
LLOYDS contacted me 2 weeks ago and have stated the following:

-they have to into account I was a student and that I have stated the policy was not explained to me properly and I did not know the cover was optional.

-THEY have took into consideration my consumer credit agreement, their knowledge of sales process and documentation and my sales documents.

Their findings:
At the time of the sale I was eligible for the policy and met the criteria in the booklet. Thats my consumer credit agreement clearly demonstrates it was optional and that the advisor did not mislead me in anyway. That a verbal explination was given which would ensure I was aware of what I was purchasing, therefore I did knowingly consent to the PPI.

Im unsure of whether to go to the FOS about the matter. I have only been into the branch once in the last 10 years and spoke to an advisor and that branch was a student branch near the campus. From reading the letter I am assuming this is where the sale took place as it said the sale was made verbally.

Im all a bit confused so any help would be greatful. I have won 2 cases with Barclays in which my case was identical but Llloyds won't budge.

amersall

PaisleyPrint wrote: »

My husband and I took out a secured loan with Blemain Finance but all initial correpondence was through Ocean finance.

All contact was over the phone with OF, had never heard of Blemain until the paperwork came through. On the form it states 'I/we wish to purchase payment protection insurance on credit provided by you and that the terms relating to the credit for the products can be found in the key financial information and other finanical information sections in this agreement' It has hand written on this 'both sign and date'.

We were under the impression we had to sign this in order to obtain the loan and didnt understand we would be paying interest on this.

At the time of the loan, Feb 2007, both my husband and I received full sick pay and had life insurance with critical illness cover - is this even relevant.

I dont want to go really use an agent to claim as looking at the fees involved it would not be worth our while.

Any advice would be very much appreciated.

Lyndsey

Put a complaint into Blemain, the reason for mis sell is that this was Single Premium PPI, this was in effect another loan that you pay to term end with interest, the unfair rebates would not have been explained to you or the full cost.

Did the PPI only cover for 5 years? if it did then put that also, as you would still pay the PPI back after the 5 years to term end and with no cover.

AL32

Hi,

This is my first time posting here and wasnt sure where to turn. I contaced Welcome Finance about reclaiming PPI on car finance and they said that as it was broker sold there was nothing they could do. How do I now try to make a claim? I dont have any documentation and WF have now gone bust! Any advice would be greatly appreciated.

Thanks!!

amersall

At the time of the sale I was eligible for the policy and met the criteria in the booklet. Thats my consumer credit agreement clearly demonstrates it was optional and that the advisor did not mislead me in anyway

Did you have any income at all when you took this card or did you work less than 16 hours?, send this to FOS, as you could not claim on this insurance for the unemployment part if you had no income or only worked for a few hours, see what happens, be prepared for a very long wait with FOS.

amersall

AL32 wrote: »

Hi,

This is my first time posting here and wasnt sure where to turn. I contaced Welcome Finance about reclaiming PPI on car finance and they said that as it was broker sold there was nothing they could do. How do I now try to make a claim? I dont have any documentation and WF have now gone bust! Any advice would be greatly appreciated.

Thanks!!

What year did you take this out? you need to contact Welcome, they are still there and taking payments, ask who the broker was, give them as much info as you can so that they can find you, if this was a long time ago they may not hold the info now.

ShonaM

Thanks for the help and advice.

Ive just been in the loft and found all my student bits and bobs and I have found the policy booklet and the date in which I took it out.

Booklet states:
Policy covers you for employment in which you work less than 16 hours for *but will not cover you for unemployement and hospitalisation and will not cover me if I have not been continously employed for 6 months (will cover me for accident, sickness, positive job solutions and life)

I was working approx 6 hours a week on a temporary contract-which was then made permanent but the hours were then casual.

Reading throught the booklet it just seems they have covered there backs for every possible question that may pop up.

Will take it further and see where it leads.

Just found another policy for a previous house of fraser card which had ppi on so will follow that up with santander.

amersall

mel30 wrote: »

hi myself and my husband got rejected by lloyds for a ppi claim on a credit card.
They have taken into consideration
1- internal sales notes,
2- your consumer credit agreement,
3-our knowledge of our sales process and documentation at the time,
4-your sales documentation,
5- your age and employment status at the onset of the policy.
So my question is if they have all these documents then why dont they know what date our insurance policy started?? i have the original and it states it started 27th feb 2003. on the rejection letter it states we applied for the ppi 13th july 2003, 5 months after it started??.
one of the other reasons was "i can vereify that the advisor had no alternative policies to consider or offer you" what does this mean ?? any advice or info greatly recieved.

If you could pay this card should the worst happen, you need to let them know, eg good sick pay, life insurance etc,also put about the start date, if this was not a final response then write back to them, if it was a final response then send this to FOS.

"The alternative policy" means that they do not offer you alternative ways of getting the PPI, they are not obliged to tell you that you can take this PPI elsewhere.

Conker25

Hi

Apologies if this has already been asked. Just a quick question

I took out an Egg loan in October 2005 and applied online. I paid ppi, I paid one direct debit each month which included the ppi. Is this front loaded? If so does this mean I was mis sold ppi?

My loan is also paid off with them (Lloyds tsb convinced me to take a loan out with them and pay off my fixed rate egg loan!!). Will I need to do a SAR?

Thanks in advance

Conker25

I've just found more info. I can't figure out if it's frontloaded...

Amount of credit £6000 cash loan, £1531.58 repayment protection insurance
Annual percentage rate: 7.9% (as per agreement)
Annual interest rate: 7.66% fixed (as per agreement)
Original term of loan 61 months

I was paying £118.50 per month

So frontloaded or not?

needhelpplz

Hi All

Been waiting for what seems like eternity for answers to my ppi complaints.

NRAM Review Team - Complaint been in since 19th May (14 WEEKS)

Northern Rock - 22nd June (9 WEEKS)

Lloyds Tsb - 19th June (9 WEEKS)

Has everyone else been waiting this long with these banks and if so how long was it until you got an answer

Many Thanks