PPI Fair Trade Practice Fees

doddie79

I did my own PPI claims recently - sending letters, making phone calls to all the banks I could remember but nothing came back from it.

One of the banks was Lloyds.

My wife recently used the Fair Trade Practice to see if she had any PPI owing and did us jointly. I though there was no harm, since I'd already done my own digging.

It turns out that there is a PPI Claim to be made against Black Horse. Lloyds bank had already told me there were no claims to be made but according to TFTP there is.

I have signed a Letter of Authority and it appears I am over the 14 day cooling off period. But I was told today that I would be sent another letter I'd need to sign to proceed. I'm not sure what letter this is and when I rang the TFTP back, it was a little vague. So, I'm waiting to see what this new letter is.

My question is ... Can I contact Black Horse directly and work out how much is owing to me. Because if I have a sum of £1000, for example, I'll have to pay £300 to TFTP. But if I cancel, it appears the cancellation fee will be less around the £210 figure. If the sum is £1000+, then cancellation seems like it might be the less expensive option. In fairness, TFTP have done some leg work. What really grinds my gears though is how Lloyds already told me they have no details of me having paid PPI to now find out I do. The whole system is a con!

Nasqueron

doddie79 wrote: »

I did my own PPI claims recently - sending letters, making phone calls to all the banks I could remember but nothing came back from it.

One of the banks was Lloyds.

My wife recently used the Fair Trade Practice to see if she had any PPI owing and did us jointly. I though there was no harm, since I'd already done my own digging.

It turns out that there is a PPI Claim to be made against Black Horse. Lloyds bank had already told me there were no claims to be made but according to TFTP there is.

I have signed a Letter of Authority and it appears I am over the 14 day cooling off period. But I was told today that I would be sent another letter I'd need to sign to proceed. I'm not sure what letter this is and when I rang the TFTP back, it was a little vague. So, I'm waiting to see what this new letter is.

My question is ... Can I contact Black Horse directly and work out how much is owing to me. Because if I have a sum of £1000, for example, I'll have to pay £300 to TFTP. But if I cancel, it appears the cancellation fee will be less around the £210 figure. If the sum is £1000+, then cancellation seems like it might be the less expensive option. In fairness, TFTP have done some leg work. What really grinds my gears though is how Lloyds already told me they have no details of me having paid PPI to now find out I do. The whole system is a con!

If it's Black Horse then it's probably car finance? If so you have to go to the dealer that sold it

TFTP are potentially just chancing their arm on finance, do they know for sure it has PPI or just seen you had finance and assume?

Also, no-one is "owed" anything, you complain it was miss-sold and see what they say.

-taff

Lloyds won't check Blck Horse to see if you had PPI, the same as they won't check with Halifax if you had PPI. They are for all intents and purpoes, separate companies. So you can stop grinding your gears.


There's no way to tell what you're redress would be if you were successful unless you knew what you paid in the first place.


And as above, Black Horse is usually car finance, and they won't be liable if you went through a dealer, the dealer would be, and if it was pre-2005 the dealer will not have been regulated.

doddie79

So, I dug the docs out. Figured they'd have been binned by now. It was 2008!

Furniture - 0% interest loan of £1200. Total sale was £1366.99 + £121.50 for warranty less a £288.49 deposit. Under total charge for credit it says - 0. Repayments were £33.33 over 36 months. I can't see any PPI on the terms and conditions or the loan agreement. I suspect Nasqueron is right - they are just chancing it!

As for grinding my gears ... late night and I haven't had enough coffee yet ;-) But yeah, I know they operate separately even if part of the same group.

It looks like I'm "owed" nought anyway. Cheers for the advice!