Advice needed - Lloyds PPI Claim

onedaymyfriend

Hi guys!

I have recently made a claim to Lloyds for mis-sold PPI from back in 2002. They called me today for some more info and to be honest I felt as if the woman at lloyds was trying to trick me in to saying stuff. It was a very strange conversation.

I think the fact that I could remember the loan advisors first name and the that he told me by taking out the PPI it would improve my chances of being accepted; but yet I couldn't remember how much I borrowed seemed to baffle her...

She asked about my employment back then (I'm with the same employer now as I was then), sick pay, redundancy and death in service. All of which are covered by my employer.

I have absolutely no idea which way this is going to go; is this how all companies work out whether you have a claim or not?!?

Btw, if i am successful in my claim; how do they work out what to pay out? Anyway, fingers crossed.

Thanks for your time as always!

D

amersall

Wait and see what happens, some banks do this so I would not read too much into this.

If you were mis sold and win redress, you get PPI back that you actually paid plus 8% compensation.

[Deleted User]

onedaymyfriend wrote: »

They called me today for some more info and to be honest I felt as if the woman at lloyds was trying to trick me in to saying stuff.

No need to for such paranoia, they are not trying to "trick" you into anything.
If you have submitted a valid mis-selling complaint which is upheld, you'll receive a refund of all PPI paid plus 8% simple interest.

onedaymyfriend

Thanks guys, would it be 8% interest on the PPI I paid up to the end of the loan period or up to when I made the PPI claim?

amersall

The 8% is a decreasing amount from the loan start day to the date they pay the redress, the nearer you get to the redress date the less the 8% is, the 8% is on each monthly PPI payment only.