We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Lloyds PPI 1996/ 1997
Options
Acorn50
Posts: 1 Newbie
Hello, I'm a newbie to the forum and have done quite a lot of searches but found nothing specific to my enquiry.
I'm a bit of a hoarder and recently came across some old Lloyds bank statements dating back to 1996/ 1997. Within these were 4 separate personal loan account statements each showing the loan amount at the top of the statement and immediately below are 'insurance premiums'. I wrote to Lloyds enclosing copies of all the statement explaining that I felt I had been mis-sold the PPI's for the following reasons:
- I was not told that the insurance was optional and was led to believe that my application for credit would be rejected if I did not take out the insurance.
- The policy exclusions were not explained to me at either before or at the time I took out the insurance. I was therefore unable to make an informed decision as to whether this insurance was appropriate for me.
-It was not explained to me that the policy premium would be paid upfront as a single premium and would be added to my debt and attract interest.
Lloyds have now written back to me with THE questionnaire to complete.The trouble is, it's such a long time ago I can't remember important things such as...
- The reason for borrowing the money? Can't remember!
- Did you have any savings at the point of sale? I don't think so, not sure!
- Employment details - I changed jobs a lot and have no idea where I was working then. I can't find any payslips, have no idea what my salary was and if there were any benefits such as sick pay / redundancy / death in service
Since my complaint was the way in which the PPI was sold to me and not whether it was appropriate for my situation at the time, I'm not sure what information I can give them or can I just write 'don't know'. Any help / advise would be much appreciated...they have asked me to reply within 14 days of the date of their letter but it took 6 days to get to me as I now live in France! Are the bank statements enough?
Many thanks for any replies.
I'm a bit of a hoarder and recently came across some old Lloyds bank statements dating back to 1996/ 1997. Within these were 4 separate personal loan account statements each showing the loan amount at the top of the statement and immediately below are 'insurance premiums'. I wrote to Lloyds enclosing copies of all the statement explaining that I felt I had been mis-sold the PPI's for the following reasons:
- I was not told that the insurance was optional and was led to believe that my application for credit would be rejected if I did not take out the insurance.
- The policy exclusions were not explained to me at either before or at the time I took out the insurance. I was therefore unable to make an informed decision as to whether this insurance was appropriate for me.
-It was not explained to me that the policy premium would be paid upfront as a single premium and would be added to my debt and attract interest.
Lloyds have now written back to me with THE questionnaire to complete.The trouble is, it's such a long time ago I can't remember important things such as...
- The reason for borrowing the money? Can't remember!
- Did you have any savings at the point of sale? I don't think so, not sure!
- Employment details - I changed jobs a lot and have no idea where I was working then. I can't find any payslips, have no idea what my salary was and if there were any benefits such as sick pay / redundancy / death in service
Since my complaint was the way in which the PPI was sold to me and not whether it was appropriate for my situation at the time, I'm not sure what information I can give them or can I just write 'don't know'. Any help / advise would be much appreciated...they have asked me to reply within 14 days of the date of their letter but it took 6 days to get to me as I now live in France! Are the bank statements enough?
Many thanks for any replies.
0
Comments
-
Just write that you don't remember if you don't remember.Non me fac calcitrare tuum culi0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 351.1K Banking & Borrowing
- 253.2K Reduce Debt & Boost Income
- 453.7K Spending & Discounts
- 244.1K Work, Benefits & Business
- 599.2K Mortgages, Homes & Bills
- 177K Life & Family
- 257.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.6K Read-Only Boards