Reclaiming bank charges after a credit card PPI claim where bank is cc provider

JCR7369

I submitted a PPI claim to Lloyds Bank in October 2014 for PPI on a credit card which I was sold in 2005. Lloyds rejected my claim out of hand stating they hadn't mis-sold because I was eligible for the policy, even though I demonstrated in my claim that I did not need it due to savings, lifstyle cover and other alternatives which would have paid off any balance or the minimum payments for 12 months+ - I think I heard within about 5 days !

This was about a week prior to the announcement that Lloyds had been fined massively for a blanket approach to all PPI claims - in essence, reject them unless there is something so obvious that its worth settling.

On the basis of the fine I submitted an appeal to FOS which I was informed about three weeks ago had been upheld :j.........though I suspect it will take Lloyds more than five days to contact me with an offer.

When I first claimed in 2014 I had just been made redundant and was out of work for a few months......during which time my bank account went overdrawn and for a number of months I was paying quite hefty charges.

What I want to know is whether there is any precedent that says in this scenario that I can claim back any charges, interest, etc that would not have been paid if the decision had been reached without the appeal ? In other words, if Lloyds (who I also bank with) had made me an offer in October 2014 what would the interest and charges on my account have been then and pay back the difference to me.

Any help/thoughts/precedent greatly appreciated...........

[Deleted User]

You can put in a further complaint about your consequential loss. I don't know how far you'll get though. You'll have to be able to show that the PPI redress amount would have prevented you going into the red and so incurring charges.
PPI redress is fixed and defined by the regulator as a full refund of the PPI plus 8% simple interest.

Nasqueron

It's certainly an interesting case - firstly, why you didn't claim on the insurance (given that is what it is there for) instead of complaining about it; secondly why, when you claimed you had all the cover you needed thus PPI was not needed, you clearly didn't as losing your job meant you ran up these charges because you couldn't pay your debts!

As they've agreed a pay out you will get lucky as they are not going to withdraw it but it certainly seems you have more front than Blackpool!

[Deleted User]

Nasqueron wrote: »

firstly, why you didn't claim on the insurance

Credit card PPI, so only covered the card.

Nasqueron

Moneyineptitude wrote: »

Credit card PPI, so only covered the card.

Yes but I assumed that they were struggling to pay back their CC and that was part of how they got into issues with the rest of the account.

It seems an odd case where your complaint reason is that you didn't need PPI as you could cover yourself if an event happened where you could claim on the PPI, and yet when that did happen (job loss) they couldn't cover themselves