Lloyds TSB Loan PPI Rejection! help/Advice needed.

worried48

What I want is the policy document for the PPI. My husband sent in a request for the loan documents but the bank did not send the PPI policy which is, after all, what all this is about!

worried48

dunstonh wrote: »

4 - most loan PPi is not sold on advice basis. They dont have to assess your financial needs. Just your eligibility.

But doesn't it count as advised as soon as the salesperson says they recommend this product for you?

dunstonh

worried48 wrote: »

But doesn't it count as advised as soon as the salesperson says they recommend this product for you?

No. I am sure there is a lot of crossing the line that did occur and the banks certainly dont help by calling half the staff advisers or managers but on paper they did not give advice.

mattyemm

worried48 wrote: »

All of us, I would guess, who took out a loan with Lloyds know very well that this is EXACTLY how it was. Can it really be true that lloyds themselves don't know??

I am in exactly the same boat as you. I was mis-sold PPI, but since I stupidly put faith in my bank and the so called 'financial advisor' to tell me the truth, I don't have any evidence. I will be recording every conversation I have at the bank from now on.

I'm going to try and claim anyway. If Lloyds reject it on the grounds of no evidence, then I will try my luck with the FOS. Apparently, a lot of people are winning by default because Lloyds are pretty pants at processing the claims.

dunstonh

I was mis-sold PPI, but since I stupidly put faith in my bank and the so called 'financial advisor' to tell me the truth, I don't have any evidence.

If it was a financial adviser then the chance of success is much lower. As mentioned already elsewhere, just 0.2% of PPI complaints at the FOS are advised. The uphold rate on those if very low. A good audit trail should exist if the person really was n adviser. Given that the banks overuse the "manager" and "adviser" titles giving them to people that are neither, it may be that it wasnt an adviser you saw. (advisers never dealt with loans or loan PPI for example and wouldnt be involved in credit card PPI)

And yes, Lloyds are really bad at complaints handling and many people will due to Lloyds not dealing with the complaint correctly.

batsinthebelfry

I have had my PPI claim refused by LLoyds, taken out at the time of a business loan in 2004. It was a new business, although I was self-employed at the time. I never claimed on the loan, and it was repaid in full when I sold my house.
Should I be eligible for my claim on the basis that I was self-employed at the time?

[Deleted User]

batsinthebelfry wrote: »

Should I be eligible for my claim on the basis that I was self-employed at the time?

Most PPI did cover the self employed. If you used this reason as part of your complaint, didn't the Bank address this issue in your rejection letter?

ukdiva

I have just received a letter from Lloyd's stating that my complaint will not be upheld because they do no have record of PPI on my boyfriend's old credit card! I forgot to enclose the statement but I am glad that I didn't because now I will make a copy and send it to them. Imagine those persons who have no proof! Luckily I found a copy from 2007. I will be contacting them first thing in the morning!

[Deleted User]

ukdiva wrote: »

I forgot to enclose the statement but I am glad that I didn't because now I will make a copy and send it to them.

Why are you glad you forgot? If you had enclosed this statement, your complaint would now be further advanced.
If you only have one statement, then expect the Bank to request more, otherwise they will only be able to base redress on the PPI paid on that statement.

ukdiva

He's had the card since 1998 and stopped using it 2010. They should've had the details there as every month he did pay PPI. When I questioned their decision over the phone, the manager told me that they only kept records for 6 years. Clearly they have not checked properly because 2010 would fall into that category. I only have that sole statement and feel that I might have to take them to the ombudsman as I don't think that they will be competent enough in dealing with the claim! I am glad I did not send it because what if the package containing the statement got lost in the post? I emailed them a copy over instead and have kept the original for future use.