LloydsTsb PPi Grabbing

Martin_Willmott

If you have a loan with Lloyds beware! I just won a claim on PPI at £1900, Lloyds refuse to return the money to me [text removed by MSE Forum Team], they say they intend to take it off the capital of my loan! Legally they can do this I am told but my point is, that money should not be in their hands in the first place, would they come to my house and take it from the biscuit tin under my bed (theoretically)? And why is it being called Mis selling? If you or I had done that, especially on that scale we'd be in jail for obtaining money by deception or fraud, both of which are criminal offences under uk law.:mad:

[Deleted User]

[text removed by MSE Forum Team]
If you have evidence to back up your assertions, I suggest you phone the police and report this illegal activity.

Martin_Willmott

how many self employed people were sold PPI? I'm one, are you aware if you're self employed you dont qualify and if they sell it to you, you cant claim. selling a product by lying, especially if it's a service you dont need but are told you do, which is what PPI is, then surely that's obtaining money by deception, they lied to you in order to get your money. I have every intention of putting this to the DPP, I have already spoken to the FCA.

antrobus

Martin_Willmott wrote: »

...Legally they can do this I am told ....

What you have been told is correct.

Martin_Willmott

Correct as per government rules, not morally correct as it's the same as firstly taking money they're not entitled to then forcing you to spend that particular money (which legally shouldn't be in their possession) with them.

m_pochec

antrobus wrote: »

What you have been told is correct.

Thank you for this simple appropriate response that the OP was looking for.

antrobus

Martin_Willmott wrote: »

Correct as per government rules, not morally correct as it's the same as firstly taking money they're not entitled to then forcing you to spend that particular money (which legally shouldn't be in their possession) with them.

Not really, because if you'd repaid the loan to Lloyds then they would (of course) repay the PPI plus interest in full. But since you haven't repaid the loan .....

Martin_Willmott

I'm not actually looking for any solutions, Lloyds have already demonstrated what a bunch of unyielding [text removed by MSE Forum Team] they are, this is just about public awareness

Martin_Willmott

antrobus wrote: »

Not really, because if you'd repaid the loan to Lloyds then they would (of course) repay the PPI plus interest in full. But since you haven't repaid the loan .....

there are different ways of looking at it, my view is, I have an agreement on the loan, I pay £x over a period of £x the ppi payments were taken illegally and should be returned to me.

[Deleted User]

[text removed by MSE Forum Team]
PPI mis-selling is not a legal issue.

societys_child

Martin_Willmott wrote: »

there are different ways of looking at it, my view is, I have an agreement on the loan, I pay £x over a period of £x the ppi payments were taken illegally and should be returned to me.

They are returning it to you by reducing the amount you owe them . . .