Can I reclaim my Lloyds business overdraft insurance

larkinmartin

Hi there,

I have had a business overdraft with Lloyds for the past 15 or so years - usually between 4k and 7k and I was told that I had to have repayment protection insurance on the overdraft . Last year I was refunded £82 from Aviva - who I paid the fees to saying that I'd repaid my overdraft and although my account was in credit then , the overdraft did go back up to 5k for a considerable time and I was not charged for insurance.This makes me think that that they had been mis-selling insurance previously.

Do I have a case to reclaim .

Thanks Martin

dunstonh

Last year I was refunded £82 from Aviva - who I paid the fees to saying that I'd repaid my overdraft and although my account was in credit then , the overdraft did go back up to 5k for a considerable time and I was not charged for insurance.This makes me think that that they had been mis-selling insurance perviously.

That has nothing to do with a mis-sale. It is a refund of a premium or premiums paid in error. Aviva has no liability for the sale. It just handles the insurance.

If you feel you were mis-sold then you make a complaint to Lloyds.

larkinmartin

Thanks for the reply , but I'm still unsure if I am elegible to reclaim these payments from Lloyds

dunstonh

but I'm still unsure if I am elegible to reclaim these payments from Lloyds

There is no such thing as eligibility. You can complain about the colour of the carpet in their branch if you want. It all comes down to whether you have reason to complain or not. What are your complaint reasons?

larkinmartin

Thanks dunstonh

all I want to know is if I was told I could only have my overdraft if I bought overdraft insurance - does this constitute a mis sold PPI and do I have grounds to reclaim from Lloyds.

To paraphrase - is it worth me pursuing a PPI claim with Lloyds fro mis sold overdraft insurance .

[Deleted User]

larkinmartin wrote: »

if I was told I could only have my overdraft if I bought overdraft insurance - does this constitute a mis sold PPI and do I have grounds to reclaim from Lloyds.

As Dunstonh already told you, you can complain about anything which takes your fancy. The problem for you is that you have a weak and unsubstantiated complaint reason. Such "hearsay" type complaints are an easy rejection for the Bank since you can provide no evidence that you were told the insurance was compulsory. It may even have been a condition of your overdraft (especially as it was a business loan) so I'd check this before making any complaint.