I refused PPI and was charged higher interest by Lloyds.

blenz101

I think you have answered your own question.

The PPI should not have been offered to you as it wasn't appropriate. It was, you claim, mistakenly offered, but you declined.

You paid to appropriate interest rate for the loan in your circumstances.

You have not been mis-sold anything or suffered any detriment.

popeye21

PeacefulWaters wrote: »

So you're trying to claim for not being mis-sold PPI?

What has this country become?

No, I was given a choice of paying for worthless insurance or higher interest and because of being intelligent enough to see the con I have paid more interest. PPI was not meant to be compulsory and reading this forum it is clear that people have cancelled their PPI after initially paying PPI, but this has not resulted in higher interest rates. Therefore, I have been penalised for not initially accepting the PPI and the lower interest rate.

bengal-stripe

popeye21 wrote: »

I have been penalised for not initially accepting the PPI and the lower interest rate.

Maybe your rate was the appropriate one for the self-employed, who, presumably, are more likely to have financial ups-and-downs then those fully-employed in a secure job.

popeye21

andyfromotley wrote: »

You were offered a product at a particular price and accepted. No deception, no misleading, nothing.

Your reasoning is ridiculous.

People who didn't see the con of PPI and paid, then who subsequently noticed they were being conned and cancelled their PPI didn't have their interest rates increased. It was not explained to me that I could stop paying PPI after initially accepting, which would have given me a lower interest rate, which is deception. It was misleading to tell me that I had to pay PPI for the lower interest rate, when I could have had the rate by cancelling the PPI after initial acceptance.

popeye21

blenz101 wrote: »

I think you have answered your own question.

The PPI should not have been offered to you as it wasn't appropriate. It was, you claim, mistakenly offered, but you declined.

You paid to appropriate interest rate for the loan in your circumstances.

You have not been mis-sold anything or suffered any detriment.

People who cancelled their PPI did not have to pay a higher interest rate. I was not told that I could cancel the PPI at any time, which would have given me a lower interest rate. Therefore, It was miss-sold and I did suffer detriment.

meer53

You accepted and used the credit card. You had the choice to refuse it at the time.

The time to complain was years ago. Not now.

PaulW922

I don't think the PPI was 'mistakenly offered' as such. It could be argued the process worked well here as the poster read the information provided, realised it was not for him and declined it. (In reality I am sure the bank would happily have sold him useless PPI).

The suggestion that the interest rate was higher as PPI was declined seems odd. I guess that, many years ago, that might have been the case but in any event, I agree with the comments above - the card was accepted at xxx interest rate and used. Nobody has a right to a certain interest rate. Is it not possible the rate was higher than that in the initial advert for other reasons?

You are not at a disadvantage from not being able to claim PPI as it was never incurred in the first place.

andyfromotley

You seem fairly determined to stick to your viewpoint that you were mis sold something because you were not mis sold something else.

Just go and put in a claim against them and come back here and let us know how you got on when its resolved.

McKneff

And PPI often covers self employed, so why do you think it was worthless.




I had to laugh at the poster who says.


You want to claim because you Weren't miss sold PPI


So funny.....

Bazofts_Revenge

Work out the monthly charge for PPI since you started the contract and multiply the figure by the number of months you had the card, factor in compound interest... You will then see how much you saved.... Simple and it saved you having to apply for it.