Bank contacting me about PPI - should I make a claim

m0rgana

Like many people I wasn't really aware I had PPI, but I was recently contacted by my bank (LloydsTSB) to inform me that I may have been mis-sold during a period when I was taking out bank loans with them (two in total over about five years).

Having given this some thought, I do now remember being advised to take out PPI when I was sold at least one of the loans. Is it possible I was sold it with the earlier loan as well? In both cases I couldn't even be sure if I had agreed to it - yet these letters would suggest I paid for it.

So. I'm wondering whether it is worth making a claim on this basis, especially since the bank has contacted me. But I'm worried that my limited memory of events will be a problem (I was quite young at the time and had a 'head in the sand' attitude to finances).

What should I say about how the PPI was sold to me when all I remember is being strongly advised to take it? Does it make a huge difference how you word these complaints?

EDIT TO ADD: I do have bank statements covering this entire period - however the payments were all under something called 'Loansdirect', and I don't know whether this was just repayments or lumped together with PPI as well.

[Deleted User]

m0rgana wrote: »

What should I say about how the PPI was sold to me when all I remember is being strongly advised to take it? Does it make a huge difference how you word these complaints?

If you have valid complaint reasons then complain, if not then don't. The Banks are writing to everyone who had PPI to start the clock ticking on a future time bar-it doesn't mean you were definitely mis-sold.

RuthnJasper

You trusted them and they gave you a "strong recommendation" which you believed to be honest at the time - but subsequently transpired to be of greater benefit to LTSB than it was to you...?

Plenty of salient advice and info. on various threads and 'Stickies' on the Forum, have a look around; that's what I did.

Fill out the form and send it off with a covering letter (keep copies). Nothing to lose except the price of a stamp. UNLESS you fully understood the terms and conditions of the PPI before you accepted it, in which case it wouldn't have been mis-sold.

Best wishes to you. xx