Lloyds PPI claim

worried48

I think we have a cast-iron claim here, have identified several very good reasons why we were mis-sold PPI on two loans (including, for one of the loans, an outright lie). A look through the ombudsman website makes me think we cannot possibly be refused.

My husband wrote to Lloyds some time ago (they replied in August with a standard "we will look into it" letter) asking for details of one of the two loans, we had details of the other. Eventually he wrote again, someone phoned him and asked him a few questions. For some bizarre reason he failed to tell them the biggest thing in our favour, namely that at the time he took out the loans we were both self-employed.

So, we wrote again, this time we filled in one of the Ombudsman forms for each claim, but this was some weeks later as he failed to tell me the bank had actually been in touch.

Now, the bank is supposed to have 8 weeks to reply - but 8 weeks from when?

If we get this money it will probably be enough to pay off our loan - so is that what will happen, or will they send us a cheque?

I am dreading waiting another 12 months for this to go to the ombudsman

Liz

DevCoder

PPI does cover self-employment in some cases.

8 weeks from when they acknowledge receipt of your complaint. Normally 2 days after you posting it.

They have the right to offset any ppi amount against debt of the same account.

You tend to get one bite of the cherry, did they refuse your initial complaint?

[Deleted User]

krisdorey wrote: »

PPI does cover self-employment in some cases.

In most cases actually.

krisdorey wrote: »

You tend to get one bite of the cherry, did they refuse your initial complaint?

As you imply, if the OP has already had a rejection then the opportunity to complain again to the Bank has ceased. If the original rejection was in the last six months then FOS is still an option.

krisdorey wrote: »

They have the right to offset any ppi amount against debt of the same account.

No, the Bank can only off set debts which are in arrears or have defaulted. The amounts owed are irrelevant.

DevCoder

I was being gentle

Would still be interesting to hear this cast iron case, bet dunstoh could find some faults

[Deleted User]

krisdorey wrote: »

Would still be interesting to hear this cast iron case,

Yes, my thoughts too.

DevCoder

Moneyineptitude wrote: »

No, the Bank can only off set debts which are in arrears or have defaulted. The amounts owed are irrelevant.

Im interested in this as its quoted quite a bit, how does a PPI refund offsetting a debt differ from the case where an overdraft is offset by a persons "in credit" account. Is the unauthorised overdraft part of the equation counted as default?

I've scoured the cobs but cant see where the difference lies, but then again Im a bit tired these days.

[Deleted User]

krisdorey wrote: »

Im interested in this as its quoted quite a bit, how does a PPI refund offsetting a debt differ from the case where an overdraft is offset by a persons "in credit" account. Is the unauthorised overdraft part of the equation counted as default?

Yes, the Bank would not seek to offset an authorised overdraft.
All the details here:
http://www.moneysavingexpert.com/banking/setting-off

DevCoder

Yes Ive read that several times but it says they "shouldnt" not that they cant. This practise is still not regulated unless Im missing something in the cobs.

Id like a pointer to the cobs which state they couldnt offset a ppi repayment against a debt even if it wasnt in arreas.

[Deleted User]

krisdorey wrote: »

Id like a pointer to the cobs which state they couldnt offset a ppi repayment against a debt even if it wasnt in arreas.

I'm not about to go researching that on a Saturday night! Go look yourself!:p

DevCoder

Ill have a beer instead, I suggest you do the same

[Deleted User]

krisdorey wrote: »

Ill have a beer instead, I suggest you do the same

Will do!
Cheers!:beer: