TSB (Lloyds) PPI Claim

mintster

I have just received a letter from Lloyds/TSB disuputing my PPI claim with them for a couple of loans which it seems had PPI on them. The loans are pre 2000 and were taken out with TSB.

My argument is simply that I was not made aware of the PPI (I wasn't) and didn't know that they were on the loans. Obviously Lloyds have come back with the info that I would have been informed, given paperwork about PPI etc.

Even though it was so long ago I know I wasn't asked about PPI (subsequent loans where this was offered I turned it down) and although there may have been details contained within the T's and C's I didn't receive any obvious info about it. Also I was made redundant in 2000 (albeit for a short time) and because I was unaware of the PPI I did not make a claim against it.

I know my argument is simply my word against theirs (there is a part of me that wishes I had simply said the advisor told me I wouldn't get the loan without PPI) - as the loans completed so long ago (around 2003/04) do I have any recourse with the financial ombudsman?

I am going to continue my complaint with them first (as I understand I have 28 days) to see if they will take any further info into consideration.

Has anyone else had this sort of argument with Lloyds? Did you get anywhere or am I fighting a losing battle?

jay-1

Hearsay reasons are very weak reasons as you cannot prove them.

How was the PPI applied to your loans - was it put on to your loan as a lump sum and you only paid by one direct debit?

If your PPI was front loaded ie a loan on top of a loan with interest added then that would be a much stronger complaint

mintster

jay-1 wrote: »

Hearay reasons are very weak reasons as you cannot prove them.

How was the PPI applied to your loans - was it put on to your loan as a lump sum and you only paid by one direct debit?

If your PPI was front loaded ie a loan on top of a loan with interest added then that would be a much stronger complaint

I know - I have said as much in a response letter I have typed to them that I am at a disadvantage as it is simply my work against theirs.

As for how the PPI was added I really don't know. It really was news to me that PPI was on the loans at all. As they reference the sale documents I have asked for copies of them.

jay-1

I take it as you didn't know you had it you were only paying one direct debit per month to your loan? That would suggest it was front loaded and a good strong reason for mis sell.

Bad PPI - full amount added at start of loan and interest added to term end

Good PPI a separate monthly payment that you could cancel without penalty

mintster

It was only on monthly payment per loan. What do I need to say to the bank? I have written a letter disputing their points.

jay-1

I do not want to put words into your mouth but maybe this applies - I now think that this PPI was front loaded on your loan (a loan on top of your loan with interest added to term end) and do not feel that you were given enough(any) information to make to make an informed choice.

The full costs of this PPI and unfair rebates were never explained to you at the point of sale. You were never shown figures for repayments with and without PPI.

mintster

I have faxed a letter to the bank - how long should I leave before contacting them to ensure they have received it?

jay-1

Give them a call now if you like.

Make sure you keep copies of all paperwork.

mintster

Second rejection letter from Lloyds - off to the FOS I go...

Is it worth me submitting a SAR to get copies of the sale documents before I go to the FOS?

dunstonh

Is it worth me submitting a SAR to get copies of the sale documents before I go to the FOS?

It wont help your complaint. Your problem is that your complaint is an unprovable allegation.

mintster

Thats kind of what I thought - my word against theirs. Has anyone won a case similar to this?