should i continue claim?

jules470

Sent a letter using the forms as stated to lloyds,they sent letter to say they were investigating after 7 weeks got a letter to say i was not mis sold ppi but i was affected to some extent regarding the unemployment cover i need to be employed for 16 hours or more to claim and im contracted for 15 this is what my complaint was regarding so had i lost my job i was unable to claim so the insurance is invalid to some extent????
The ppi was on a loan i only paid £500 in insurance the loan is fully paid up i never claimed or had any arrears is it worth taking to the ombudsmen or should i not bother???
Thanks in advance

jdwmfc

jules470 wrote: »

Sent a letter using the forms as stated to lloyds,they sent letter to say they were investigating after 7 weeks got a letter to say i was not mis sold ppi but i was affected to some extent regarding the unemployment cover i need to be employed for 16 hours or more to claim and im contracted for 15 this is what my complaint was regarding so had i lost my job i was unable to claim so the insurance is invalid to some extent????
The ppi was on a loan i only paid £500 in insurance the loan is fully paid up i never claimed or had any arrears is it worth taking to the ombudsmen or should i not bother???
Thanks in advance

The fact that you could not claim because you were not working enough hours seems like it was mis-sold to me!!! Did they say that if you disagreed you should take it to the ombudsmen in the letter?
If not write back to them and reject the reasons as they have pointed out that you were unable to use the policy as you were not covered for unemployment.

amersall

Did you pay one payment each month to this loan and PPI and not a separate payment for the PPI? if you did, this is Single Premium PPI and this is the reason for mis sell that you use, this was a loan on the loan paid to term end with interest, if you cancelled the PPI they would have given you a pro rata rebate of the PPI and the remaining PPI is still on the loan to term end.

If you settled this loan early then, as above, you would have a pro rata rebate and you would have paid back the remaining PPI in with the settlement figure.
If this was the case and the response is not final, write back to them and reject the reasons for not upholding, this was Single Premium PPI and the full cost and unfair rebates were not explained to you at the point of sale to make an informed decision.
If it was a final decision, send this to FOS with copies of what the bank sent to you, they have admitted that the unemployment part would have been no use to you and the fact this was SP will help.

jules470

Hi Jd soz for not replying sooner been a bit busy, the bank did say i should contact the ombudsman if i did not agree with their decision and as i said they did admit i was to some extent affected by the insurance regardint the employment cover.
Amersall the ppi was included in the monthly payment with the loan not a seperate payment,shall i proceed as i only have 28 days to do so or the bank close the case,Thanks again

amersall

Yes, get the letter sent back to them, they have admitted fault with the unemployment cover, with the SP reason they should pay up, if they don;t then the FOS will uphold.