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Lloyds Cashflow account and other queries
skiqueen_2
Posts: 3 Newbie
Hi All
Apologies in advance but I will try to be as succinct as possible. For some time I have been looking into the ppi issue on a Halifax credit card and whilst going through old bank statements have come across an old Lloyds loan which has "Insurance Premium £315" as the first entry (taking the loan from £1500 to £1815). This is going back to 1994 and I have all the statement pages, but no other paperwork. I can follow the paper trail of what happened to the loan, but have no recollection of any conversations with Lloyds (although must have had them!). Will it be possible to put in a claim with Lloyds going this far back?
That loan was taken out to pay off the Lloyds CashFlow account that I had got in a right mess with and whilst checking that out I noticed that they had been charging a monthly "service charge" on the CF acct, whilst also charging a "Cashflow Insurance" charge on my current account as a standing order. Has anyone got any experience with these CashFlow accounts? Is the CF insurance another form of ppi? And if so, what would be the effect of paying the CF insurance from my current account, to the CF account which by then had a positive balance? Your advice would be appreciated.
Thanks. C
Apologies in advance but I will try to be as succinct as possible. For some time I have been looking into the ppi issue on a Halifax credit card and whilst going through old bank statements have come across an old Lloyds loan which has "Insurance Premium £315" as the first entry (taking the loan from £1500 to £1815). This is going back to 1994 and I have all the statement pages, but no other paperwork. I can follow the paper trail of what happened to the loan, but have no recollection of any conversations with Lloyds (although must have had them!). Will it be possible to put in a claim with Lloyds going this far back?
That loan was taken out to pay off the Lloyds CashFlow account that I had got in a right mess with and whilst checking that out I noticed that they had been charging a monthly "service charge" on the CF acct, whilst also charging a "Cashflow Insurance" charge on my current account as a standing order. Has anyone got any experience with these CashFlow accounts? Is the CF insurance another form of ppi? And if so, what would be the effect of paying the CF insurance from my current account, to the CF account which by then had a positive balance? Your advice would be appreciated.
Thanks. C
0
Comments
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Will it be possible to put in a claim with Lloyds going this far back?
Yes. However, your complaint reasons are going to need some thought.whilst checking that out I noticed that they had been charging a monthly "service charge" on the CF acct, whilst also charging a "Cashflow Insurance" charge on my current account as a standing order. Has anyone got any experience with these CashFlow accounts?
Yes.Is the CF insurance another form of ppi?
NoAnd if so, what would be the effect of paying the CF insurance from my current account, to the CF account which by then had a positive balance?
its not insurance, let alone PPI.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 -
Thanks for your reply but if its not insurance, and not ppi, then what is it?! C0
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The cashflow account had a monthly service charge.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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Indeed; this is clearly on the CF statements as "Service Charge". The other was going out of the current account as "Cashflow Insurance", hence my confusion.0
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