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PPI LloydsTSB refused - what next ?
helened
Posts: 7 Forumite
Can someone please advise me what to do next
Lloyds have replied saying that because I took the policy out prior to 2005 when the sale of PPI was not regulated and they say they believe it was therefore sold fairly for the time
Any help or advice appreciated
H
Lloyds have replied saying that because I took the policy out prior to 2005 when the sale of PPI was not regulated and they say they believe it was therefore sold fairly for the time
Any help or advice appreciated
H
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Comments
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Go to the ombudsman.0
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That cannot apply to LloydsTSB cases. It is an incorrect rejection (unless you are going very much further back in time)I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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I took the policy out in 2001 would this make a difference
and thanks for replies0 -
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All i remember is going in for a mortgage and coming out with a credit card also. The paperwork for the credit card was already complete and she said if you want it just sign here so I did.0
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And you didnt read it, presumably.....before you signed for it.make the most of it, we are only here for the weekend.
and we will never, ever return.0 -
Didn't they have to do fill in some sort of needs and benefits questionnaire (not sure what it was called) after 2005 but not before?
The statement of demands and needs is a post 2005 requirement that came in with insurance regulation. However, Lloyds fell under a previous regulatory regime which means they cannot bar complaints using the 2005 date.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
The statement of demands and needs is a post 2005 requirement that came in with insurance regulation. However, Lloyds fell under a previous regulatory regime which means they cannot bar complaints using the 2005 date.
So can I reply to Lloyds stating that they are not allowed to use the 2005 date rule?0 -
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The only place I can think they could apply the 2005 rule is if it was put in place by a Black Horse Financial Services agent. They were not Lloyds Bank employees. Apart from that, they shouldnt use the 2005 date. If you know it was not a Black Horse agent then go straight to the FOS. Dont waste your time with Lloyds.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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