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PPI on overdraughts
Mirica
Posts: 5 Forumite
The financial ombudsman service checked 3 loans and credit cards I held with Lloyds. Lloyds withheld my file for 3.5 months. FOS ruled no PPI applied, I appealed and 2 days later same result .
I have been self employed for 17 years. Did not elect to take out PPI on loans and cc's, but my bank manager admitted ( reluctantly) that PPI had been added. I have been confused by this and now realise that it may apply to overdrafts, as I used my overdraft for about 7 of the 20 years, and have been over my agreed many times. A close friend just got PPI back which had been added onto over draft fees.
I believe there is a reason Lloyds held back my file and 7 years of statements were not included despite earlier messages to the F.O stating they had them. As it happened I have every statement from the past 11 years. Lloyds then decided they did have the statements and sent them.
One of the managers at F.O. has said that files are coming through incomplete and ammended. (Sarcastic comments on this board about what my bank manager said are unhelpful and unwelcome). The high street banks are in disgrace, and I'm sure there is more that will come out about them.
I have been self employed for 17 years. Did not elect to take out PPI on loans and cc's, but my bank manager admitted ( reluctantly) that PPI had been added. I have been confused by this and now realise that it may apply to overdrafts, as I used my overdraft for about 7 of the 20 years, and have been over my agreed many times. A close friend just got PPI back which had been added onto over draft fees.
I believe there is a reason Lloyds held back my file and 7 years of statements were not included despite earlier messages to the F.O stating they had them. As it happened I have every statement from the past 11 years. Lloyds then decided they did have the statements and sent them.
One of the managers at F.O. has said that files are coming through incomplete and ammended. (Sarcastic comments on this board about what my bank manager said are unhelpful and unwelcome). The high street banks are in disgrace, and I'm sure there is more that will come out about them.
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Comments
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The financial ombudsman service checked 3 loans and credit cards I held with Lloyds. Lloyds withheld my file for 3.5 months. FOS ruled no PPI applied, I appealed and 2 days later same result .
I have been self employed for 17 years. Did not elect to take out PPI on loans and cc's, but my bank manager admitted ( reluctantly) that PPI had been added. I have been confused by this and now realise that it may apply to overdraughts and I used my overdraught for about 7 of the 20 years, and have been over my agreed limit many times.
What can I do ?
I would ask your bank manager what his basis was for believing PPI had been added. There's definitely some form of contradiction between what he/she says and the official decision. But bank managers are not always generally that knowledgeable when it comes to PPI matters.0 -
Duplicate thread from one posted over a week ago. Not sure the answers are going to change.
https://forums.moneysavingexpert.com/discussion/5075510
Perhaps the bank manager has having fun at work.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Overdraft.0
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