Time Bound?

fcjf

I issued a complaint in November last year to Lloyd's about a business loan we had to purchase a business for my wife 23 years ago (I was a silent partner and in full time employment). I sent off the questionnaire and a copy of the credit agreement which I had stumbled across and which initiated the complaint when noticing that payment protection insurance had been applied. We never received anything back from Lloyd's so I wrote a letter stating they had not responded in the 8 week deadline they said they would. Lloyd's then wrote back stating that they had responded in November and said they were enclosing a copy of the letter but nothing was enclosed. After ringing them I now have a copy of the letter from November in which they state that they had no details of any payment protection and unless they hear from me in 28 days ( from mid November) the complaint would be closed. In their response Lloyd's made reference to a loan reference which I had not given them and was not on the credit agreement so they obviously found the loan details. The amount of payment insurance is actually stated on the credit agreement and I now have found my bank statements from 1993 which show the loan payments with a reference on the bank statements the same as the loan reference Lloyd's made on their letter to me. I have a few queries I am hoping you can help me with;
Can Lloyd's claim I didn't respond in the 28 days requested in their November letter I didn't receive and not re-open the complaint?
I sent a copy of the credit agreement showing the amount of insurance added to the loan with my original complaint so why are Lloyd's claiming they had no record of Insurance? Is this because they would need to see bank statement proving the insurance was actually paid?
Do I have to calculate all payments made and prove that the insurance was paid for in the loan repayments or do I leave that to Lloyd's?
Other than resending everything I did previously, supplemented by the 36 months of bank statements I have now found should I be sending anything else?

P.S. loan Interest was 12.9% back then!

Thanks

dunstonh

Can Lloyd's claim I didn't respond in the 28 days requested in their November letter I didn't receive and not re-open the complaint?

There is no 28 day timebar. It is there to get you respond speedily but it carries no weight.

I sent a copy of the credit agreement showing the amount of insurance added to the loan with my original complaint so why are Lloyd's claiming they had no record of Insurance? Is this because they would need to see bank statement proving the insurance was actually paid?

Could be a number of reasons. You could have a pre-sale agreement which was changed at point of sale for example. It could also be that they are mistaken.

Do I have to calculate all payments made and prove that the insurance was paid for in the loan repayments or do I leave that to Lloyd's?

Dont jump the gun. Lloyds do that if your complaint is successful.

P.S. loan Interest was 12.9% back then!

Wouldnt it be good to be back to those days.

fcjf

I sent off the additional information requested by Lloyd's, 36 months of bank statements, which show that the loan payments made included PPI. I have today received a cheque for £35 with a letter saying that this was for distress and inconvenience caused. The letter makes no response to our complaint. It also doesn't say that this is any offer or final correspondence.

Can anybody advise what our next step should be, do we contact the ombudsman or stick with asking Lloyd's to make a response to the specific points made in our complaint?

[Deleted User]

The letter you received today will not be from the same department which deals with PPI complaints. Expect an acknowledgement of your revised complaint soon.

If nothing arrives, refer your complaint to the Ombudsman.

fcjf

Thank you, that makes sense. I had been exchanging correspondence with the Commercial PPI dept but this cheque and letter is from the Lending Operations dept. Is this normal practice?