Reclaim Lloyds Gold Packaged Account - Advice Please!

BathGal

Hi There, I wonder if you can help...

I am planning on using the Resolver Tool to attempt to claim back the monthly fees for the Lloyds Gold Service Account which I've had since about 1999 and to which I believe I was mis-sold.

I was transferring my mortgage to the Cheltenham & Gloucester, part of Lloyds at the time, and because of my salary, I was told I should have a Gold account, with little explanation or the opportunity to refuse.

The advice I'm after is...

* I still have the Gold Account open. To ensure a better chance of success in claiming, should I be closing it or trying to "downgrade" it? I've kept it going largely due to this uncertainty. Ultimately, I want to close it completely.

* Over the years, I have used some of the benefits it gives me - AA breakdown on a couple of occasions and reclaiming for a damaged mobile (with limited success). Will this affect my ability to claim?

Any thoughts and advice would be gratefully received.

Jo

dunstonh

* Over the years, I have used some of the benefits it gives me - AA breakdown on a couple of occasions and reclaiming for a damaged mobile (with limited success). Will this affect my ability to claim?

It doesnt prevent you from complaining but it does mean that if they uphold your complaint, they are allowed to remove the market cost of using those benefits from any redress.

it does also harm your complaint chances as it indicates you were aware of the benefits and were using them. So, you cannot say you were not eligible or that they were not suitable.

Nasqueron

Taken out in 1999 meets the 6 year time bar rule
The fact you will have had letters for the last x number of years (more than 3 anyway) listing the benefits and options of the account will allow them to time bar under the 3 year rule if they wish


The claims show the account was suitable for you and useful which makes your complaint less likely to succeed



If you didn't want the account, why didn't you cancel it back in 1999 or after the first account statement etc? The branch would have had details about their other accounts


More than that, posts on this forum suggest the fee for the Gold Service only started in 2012 and customers were written to offering them the choice to keep it or downgrade



https://forums.moneysavingexpert.com/discussion/4082579/lloyds-to-charge-for-old-gold-service-accounts

BathGal

Thank you both for your replies. It's not looking too promising for a successful claim, but I shall pursue it anyway.

From what I can remember, there was a monthly fee for the service prior to 2012, though it's unlikely I still have paperwork to substantiate that.

As to why I didn't cancel it back along, I was a lot younger and naive then and wouldn't have thought to question it. No doubt why a lot of other folk find themselves in a similar position now too I guess, and why these things go unchallenged.

Thank you for taking the time to reply - it's much appreciated.

Kind regards,

Jo

Bermonia

By all means try your luck, but as already explained expect very little chance of success - highly likely to be time barred, failing that they can evidence that you were aware and utilised the benefits which would not support your complaint.