Lloyds - Overdraft Protection Insurance isn't PPI apparently!

Wickedwitch67

Am so cross! I put in 3 complaints to LTSB at the end of March. The loan and credit card complaints have all been dealt with and upheld but I have heard nothing about the overdraft PPI complaint so I rang them today.

I was told that the PPI Complaints Team don't deal with overdraft PPI and to ring Phonebank, which I did. They claimed they had never, ever heard of overdraft PPI and told me to ring Pinnacle who issued the policy that LTSB sold me. I spoke to Pinnacle who said yes, it is PPI but you need to complain to LTSB as they sold the policy to you. They were very helpful are sending me the original policy documents as I no longer have them.

I went back to LTSB PPI Complaints who completely and utterly deny that they ever, ever sold overdraft PPI - it was different apparently and not PPI - and even if they did they aren't dealing with such complaints. They are only looking at loans, CC and mortgage PPI. I ask why no one has even acknowledged my complaint and they cannot answer. I ask if they can raise it with their PPI team and they tell me no, sorry, nothing we can do!

I am so cross that they haven't even had the courtesy to write to me about this, instead they have just ignored my complaint form. LTSB claim they have no record of it even though it was sent in the same recorded delivery envelope as the loan and CC complaint, which have both been dealt with.

What I plan to do is re-submit my complaint with a covering letter and with copies of the insurance documents showing that it was the same cover as the other PPI - as in my overdraft would be paid if I was long term sick or made redundant, making clear I expect a written response and a full explanation as to why this PPI is different from loan or cc PPI. Apparently they haven't sold overdraft PPI for such a long time that half the staff don't know it ever existed, which doesn't help.

Is that the right approach or am I better off just complaining to FOS, even though I don't have a rejection letter?

Sorry for the length of this, just wanted to get all the info in.

ste1mma

hi all, ive recently tried claiming back ppi payments made to Connells Resedential. I got a mortgage with RBS through Connells and the ppi protection was with Wessex-Group. I have been paying the ppi on my mortgage for three years. When i brought my house i felt pressured into taking the ppi policy as she was pushy and told me i could be refused credit. As a young (21 year old) first time buyer i took out he policy as she told me to and got a mortgage. After reading an article on this website it thought the ppi sold to me was something i didnt need because the policy will pay out a maximum of 12 months which would work out to under £4000 which i have savings to cover and my partner also works and i have family who would help me out. If i got sick my work would also pay out standard sick pay which with my savings and family helping out easily cover my mortgage. I sent Connells a letter explaining this and asked them for a full refund and that i would like to immediately cancel the policy.I received a questionaire which i filled and sent back. I have now received a letter saying i was not obliged to taking the cover and i signed the policy to agree, the fact that saving does not come into account as i would not want to use them in these circumstances and that my family might not necessarily be able to support me for 12 months. I got in touch with Wessex-Group and they told me the policy had not been cancelled so i cancelled it with them. What should i do now? send another letter or just leave it? many thanks steve

Wickedwitch67

I think you meant to start a new thread as I don't think you will get the help you need through replying to my completely different issue.

alexdey

Hi I'm having the same problem I've called Lloyds Phone bank service and they're flatly denying selling ppi on any of their overdrafts.? Should I pursue the claim any more. I got an overdraft over 12 years ago and have been servicing it up until 2012.

I was wondering if Wickedwitch67 had got any further with your claim?

makomachina

The staff at Lloyds are just being obtuse. Just because something is not called Payment Protection Insurance, it does not mean it is not, fundamentally, the same thing. It is insurance that protects your ability to make a regular payment to the lender during an insured event.

Lloyds have to issue you a final response to your complaint in writing, even if that final response is to say "We don't care, we can't help you".

The FOS were set up to assist consumers and this is a situation in which they can do so. Give them a call on 0300 123 9 123 and advise them of your situation - they can send a referral letter to Lloyds giving them 8 weeks to assess your complaint, which should prompt a written response, or, if they deem it appropriate as you've already made your complaint, they can issue a request for Lloyds' business file instead and adjudicate on your complaint.

It's a free service for the consumer and the Ombudsman is happy to do the legwork for you.

-taff

alexdey wrote: »

Hi I'm having the same problem I've called Lloyds Phone bank service and they're flatly denying selling ppi on any of their overdrafts.? Should I pursue the claim any more. I got an overdraft over 12 years ago and have been servicing it up until 2012.

I was wondering if Wickedwitch67 had got any further with your claim?

If you have statements to show you were paying this, they can't deny it can they? You can get statements up to ten years ago online banking with Lloyds.