Dispute a PPI offer from Lloyds tsb

matc

Has anyone on here disputed a PPI offer because the bank assumed you would have taken a regular premium policy? are they trying to get off easy or should i accept?

they're basically saying from their evidence it was sold fairly but a single premium policy was not suitable for me and as they dont have any proof to suggest i did not have a need to protect my loan payments they have concluded i would have purchased a regular premium policy had it been made available. (This isnt soemthing i would have done as i had compnay sick pay and if i'd lost my job my family would have helped me out) Their offer represents the difference between what i have actually paid for my ppi policy inclusive of interest and what i would have paid for a regular premium ppi policy.


what should i do? accept of fight?

any help would be great!

[Deleted User]

matc wrote: »

what should i do? accept of fight?

It's your own choice, but "fighting" means referring your complaint to FOS where it will languish for around eighteen months.

matc

is there anyway to calculate what the difference between the policies would be so i can make a more informed choice maybe?

-taff

Your informed choice rests on how much money you think you might get back. Single premium means youll get more, monthly means you'll get less. Having your parents to help you out is not a valid argument. A good sick pay provision, your own savings or a separate income would mean you had no need of it.

There is no 'fighting'. There is only are you going to refer it to the FOS or not, and that depends on your desire for the money...do you want a bit now, or the possibility of mroe later? Or the possibility of none later? Your complaint is your own and you must make the choice.

TruthSleuth

Hi matc. Just a newbie here but can you give them details of the package your work would have offered? Taff hit the nail on the head with his point about proof to back up you complaint. There's another thread on exactly this too. It's 'Lloyds TSB decision'. It's on the first page of the index of ppi threads and might help you. You can always go back to Lloyd TSB and say you have further information to support your complaint. Good luck.