help please

dinky244

Hi All
Sick of texts/phone calls etc "we can claim £xxxxx's for you " i called in lloyds tsb asking about claiming ppi refund.They gave me a helpline number, i came home and rang them-nice guy answered took details advised me i had 5 loans accounts showing i had ppi on.He reckons i'll hear within 10 days-letter/questionairre first then their decision.asked why i thought i'd been mis sold ppi told him i was advised if not taken out i would not have got the loan-he said this questionairre asks quesitions any idea what they will be?
Also i am in a debt management scheme-but none of the debt is connected with the bank.I have a loan at the moment with the bank its payments are up to date-will the take anything i'm entitled to off the loan?
Also feel they are gonna be wanting to know why i.ve complained and so been racking my brains as to what to say:o .Any advice gratefully received
Many thanks
Dinky xx

dunstonh

If your complaint is successful then you will get the redress. The lender can only use the redress against arrears, defaults and amounts written off against the debt associated with the PPI.

Also feel they are gonna be wanting to know why i.ve complained and so been racking my brains as to what to say

You are making a complaint. So reasons for complaint are important. The truth is usually the best idea.

McKneff

As duncanh says, the truth is always the best.

If you are asked in the future, the truth is instantly recallable.

If you lie, you have to remember what lies you told

magpiecottage

dunstonh wrote: »

The lender can only use the redress against arrears, defaults and amounts written off against the debt associated with the PPI.

They can normally set it off against any other debts you owe them as well but not simply against an amount that you are repaying in accordance with your contractual obligations.

So in the OP's case that would be correct.

dunstonh

magpiecottage wrote: »

They can normally set it off against any other debts you owe them as well but not simply against an amount that you are repaying in accordance with your contractual obligations.

So in the OP's case that would be correct.

FOS have just published a decision that indicates a change to that view (although one case does not necessarily mean a wholesale change)

http://www.ombudsman-decisions.org.uk/viewPDF.aspx?FileID=5623

magpiecottage

dunstonh wrote: »

FOS have just published a decision that indicates a change to that view (although one case does not necessarily mean a wholesale change)

http://www.ombudsman-decisions.org.uk/viewPDF.aspx?FileID=5623

Yes - I should have said this had happened. However, it is not something that ought to be relied upon.

In particular, case law under the Insolvency Act points to a different conclusion and sets precedent whilst Ombudsmen's decisions do not.

That would suggest that if a firm could demonstrate that it had good reason to suppose it would never get its money back it a court would allow it to put the redress toward its own debts if it was asked to enforce an Ombudsman's decision to the contrary.

-taff

If you had 5 loans, it's a good chance you had consectuive loans, so one of your omcplaint reason would be you were sold single premium PPI on a consolidated chain of loans.
Each loan would have been paid off with the following loan and a portion of the PPI refiunded, but the interest would have stayed on each one.

dinky244

Hi all
Thanks for your help/comments.Had my forms through and have now filled them in and returned them(fingers crossed)
I should point out though when i asked about answers to questions i was never gonna tell fibs-its just i wasn't sure whether my reasons were gonna convince them to pay up.I told them my employers at the time would pay me sick pay for 6 months also that i was covered for death benefits and also redundancy.
Anyway here's hoping;)