Do I believe them??????

pinkspider04

Hi all,

I am new - so please bear with me & apologies if I go on too much!

I have a long running PPI claim with Lloyds, they have already accepted my complaint but the problem has been when they give me a figure - it just seems too low. Now Lloyds have been less than honest before when I tried to claim back bank charges so I am having difficulty trusting them!

Is there a quick and easy way where I can work out how much I should be refunded? I have all the details (I requested copies of my statements back to 2001) - if I put the figures on here will someone be able to give me an idea of what to expect?

Many thanks, pinkspider04

DevCoder

Put the relevant details on here and one of us will calculate the amount for you.

pinkspider04

Oh that's great, thank you.

Do you need to know the monthly interest rate for the card as well as the PPI payments made?

Thanks again, pinkspider04

pinkspider04

Ok here goes:

05/2001 - 11/2001 - card monthly interest rate of 1.456% total PPI payments £54.82
12/2001 - 06/2004 - card monthly interest rate of 1.385% total PPI payments of £231.11 (last 6 mths no balance, no ppi paid) one charge of £17.50 to the card for an unpaid D/D
07/2004 - 10/2004 balance transfer from another card to Lloyds, card monthly interest rate of 1.094% total PPI payments of £90.79
11/2004 - 03/2005 card monthly interest rate of 1.204% total PPI payments of £108.00 plus one £20 late charge in the period
04/2005 - 10/2007 Balance transfer to a new lloyds card with 0.16% interest on transfers & 1.2% on purchases - however at this point I have realised that PPI is optional and cancelled it, so no PPI paid, three £20 late charges in this period
11/2007 - transfered to a new card with 0% interest, no PPI
12/2007 Card paid off in full, however card continue to run with a 0.02 credit, despite trying to close it on numerous occasions - account finally closed 05/2010

Thanks pinkspider04

DevCoder

What is the figure they are offering (sorry I couldn't see that in your post).

pinkspider04

They offered £750

[Deleted User]

pinkspider04 wrote: »

They offered £750

I think you are drawing this out a bit, it's already almost a week since you initially posted.

You will only ever receive a refund of PPI you actually paid, plus attendant interest, plus 8% simple interest.


This redress is defined and is not somehow negotiable. The Banks handled Bank charges far differently.

Only in the unlikely event that you have documentary evidence that you paid more than is being refunded would you be able to claim more.

You won't have paid any more PPI once the account became dormant and without a balance.

There will be no refund of late payment charges because they are irrelevant to a PPI mis-selling complaint.

The figure you quote , therefore, looks to be correct.