PPI Reclaiming discussion Part II

marshallka

di3004 wrote: »

I do remember Cheaptrick received a standard fob off first letter from Lloyds, like I had received, and this is the 2nd letter to send.;)

Yeah just amended my post as this stated that he only just recieved this letter of the 25th July by way of another letter. I have also blanked the agreement number out too.

di3004

marshallka wrote: »

Yeah just amended my post as this stated that he only just recieved this letter of the 25th July by way of another letter. I have also blanked the agreement number out too.

Cheers.......:D lol......;)
Hopefully Cheaptrick will come back and read the posts about removing his acc number.....:rolleyes: , think our posts may have been missed. .

di3004

This here was the last letter from Lloyds posted by Cheaptrick, it mentions the FOS, but all mine did too each time but they still gave me a choice of requesting them to reconsider......
Cannot see Cheaptrick was given that option here, so maybe it should have just gone straight to the FOS from here then.


Originally Posted by Cheaptrick
LLOYDS TSB

Please can anyone advise me, I have sent off the relevant letters from the templates and have had the following reply from LLoyds TSB:

You took out a loan on 15th July 2003 for £11,000 and you elected to protect your risk by purchasing an insurance contract for a "oneoff" premium of £2344.59 plus interest.

As you have a number of concerns, I will respond to each one individually as outllined below.

You have made me aware that you were self employed at the time you took out this policy.

My Findings

You have stated that you were a self employed customer at the start date of the policy. A self employed customer is eligible for the Policy and dependant on circumstances at point of claim, would be covered for all the benefits under the Policy. This includes the unemployment benefits, the accident and sickness benefits, the total and permanent disability and life cover together with Positive Job Solutions. The definition of "employed" under the Lloyds TSB policy includes a person who is self employed.

In the circumsances in the absence of any further detail from you of how your status as self-employed might have affected your claim and what you allege should have been discussed with you at point of sale. I am afraid I have no alternative other than to reject your complaint.

You have made med aware that the seller did not advise you that the policy was optional.

My Findings

LLoyds TSB did not lead customers to believe that the insurance was compulsory or that the application for credit would be compromised in the absence of cover. Lloyds TSB took steps to ensure the customer was fully aware of the optional nature of cover.

We attach a copy of the Consumer Credit Agreement which you signed and which set out separately:

(i) the fact that there was a cash loan and the loan for the loan protection insurance together with the respective amounts.

(ii) the monthly repayments for the loan and for the loan protection insurance.

A separate box is completed on the Loan Agreement to confirm that you wished to take the optional loan protection and further box confirmed that the premium had been advanced as part of the loan. You were therefore made fully aware of the optional nature of the policy. (I would like to point out at this stage that the boxes were ticked by a computer, I personally did not tick these as I thought that this was standard)

In the absence of any further information from you, I am afraid that I have no alternative other than to reject your complaint.

You made me aware that the seller did not give you full information of what the policy would or would not cover.

My Findings

lloyds TSB training and staff briefings reminded its advisors of the importance of providing the customer of information concerning the policy including the cover and benefits and any significant and unusual reswtrictions or exclusions to its customers. You would have been sent a policy booklet together with yuor loan agreement. Before signing the loan agreement it advises that you shoulod read all the terms and conditions and where relevant the terms and conditions within the policy booklet. The policy document contained a table setting out the benefits and cover within the policy: and the way in which the cover may change dependent on the circumstances or age of the customer, at point of claim.

In the absence of any further information from you, I am afraid I have no alternative but to reject your claim.

You have made me aware that you are concerned that the seller had no financial background and that the policy was not sold in your best interest.

My Findings

Lloyds TSB provide training to all sellers of PPI. Sellers were issued with the General Insurance Standards Council ( GISC ) code which set out guidelines for sale of general insurance together with a handbook for all sellers of General Insurance and a work book to complete. Ongoing briefing documents and guidance where issued in respect of the product. Sellers were also subject to ongoing monitering and supervision. Lloyds TSB sellers clearly had a financial background and were trained to recommend loan protection insurance in the event that it matched a customers requirements. In the absence of any further information, I must therefore reject your complaint.

I am sorry that my decision was not more favourable to your complaint. Should you wish for the Financial Ombudsman to independently review your complaint, you must refer your matte to them within 6 months of the date of this letter. I enclose a copy of the self explanatary leaflet about this service.

I AM AT A LOSS OF HOW TO PROCEED NEXT. HAS ANYONE RECEIVED A SIMILER TYPE OF LETTER WHO CAN ADVISE AND HELP ME!!

Thank you

marshallka

di3004 wrote: »

This here was the last letter from Lloyds posted by Cheaptrick, it mentions the FOS, but all mine did too each time but they still gave me a choice of requesting them to reconsider......
Cannot see Cheaptrick was given that option here, so maybe it should have just gone straight to the FOS from here then.


Originally Posted by Cheaptrick
LLOYDS TSB

Please can anyone advise me, I have sent off the relevant letters from the templates and have had the following reply from LLoyds TSB:

You took out a loan on 15th July 2003 for £11,000 and you elected to protect your risk by purchasing an insurance contract for a "oneoff" premium of £2344.59 plus interest.

As you have a number of concerns, I will respond to each one individually as outllined below.

You have made me aware that you were self employed at the time you took out this policy.

My Findings

You have stated that you were a self employed customer at the start date of the policy. A self employed customer is eligible for the Policy and dependant on circumstances at point of claim, would be covered for all the benefits under the Policy. This includes the unemployment benefits, the accident and sickness benefits, the total and permanent disability and life cover together with Positive Job Solutions. The definition of "employed" under the Lloyds TSB policy includes a person who is self employed.

In the circumsances in the absence of any further detail from you of how your status as self-employed might have affected your claim and what you allege should have been discussed with you at point of sale. I am afraid I have no alternative other than to reject your complaint.

You have made med aware that the seller did not advise you that the policy was optional.

My Findings

LLoyds TSB did not lead customers to believe that the insurance was compulsory or that the application for credit would be compromised in the absence of cover. Lloyds TSB took steps to ensure the customer was fully aware of the optional nature of cover.

We attach a copy of the Consumer Credit Agreement which you signed and which set out separately:

(i) the fact that there was a cash loan and the loan for the loan protection insurance together with the respective amounts.

(ii) the monthly repayments for the loan and for the loan protection insurance.

A separate box is completed on the Loan Agreement to confirm that you wished to take the optional loan protection and further box confirmed that the premium had been advanced as part of the loan. You were therefore made fully aware of the optional nature of the policy. (I would like to point out at this stage that the boxes were ticked by a computer, I personally did not tick these as I thought that this was standard)

In the absence of any further information from you, I am afraid that I have no alternative other than to reject your complaint.

You made me aware that the seller did not give you full information of what the policy would or would not cover.

My Findings

lloyds TSB training and staff briefings reminded its advisors of the importance of providing the customer of information concerning the policy including the cover and benefits and any significant and unusual reswtrictions or exclusions to its customers. You would have been sent a policy booklet together with yuor loan agreement. Before signing the loan agreement it advises that you shoulod read all the terms and conditions and where relevant the terms and conditions within the policy booklet. The policy document contained a table setting out the benefits and cover within the policy: and the way in which the cover may change dependent on the circumstances or age of the customer, at point of claim.

In the absence of any further information from you, I am afraid I have no alternative but to reject your claim.

You have made me aware that you are concerned that the seller had no financial background and that the policy was not sold in your best interest.

My Findings

Lloyds TSB provide training to all sellers of PPI. Sellers were issued with the General Insurance Standards Council ( GISC ) code which set out guidelines for sale of general insurance together with a handbook for all sellers of General Insurance and a work book to complete. Ongoing briefing documents and guidance where issued in respect of the product. Sellers were also subject to ongoing monitering and supervision. Lloyds TSB sellers clearly had a financial background and were trained to recommend loan protection insurance in the event that it matched a customers requirements. In the absence of any further information, I must therefore reject your complaint.

I am sorry that my decision was not more favourable to your complaint. Should you wish for the Financial Ombudsman to independently review your complaint, you must refer your matte to them within 6 months of the date of this letter. I enclose a copy of the self explanatary leaflet about this service.

I AM AT A LOSS OF HOW TO PROCEED NEXT. HAS ANYONE RECEIVED A SIMILER TYPE OF LETTER WHO CAN ADVISE AND HELP ME!!

Thank you

So this was the copy of the letter received by cheaptrick only just but written on 25th July then??

Is this what cheaptrick is replying to now....

Does not make sense as to being a final or not

In the circumsances in the absence of any further detail from you of how your status as self-employed might have affected your claim and what you allege should have been discussed with you at point of sale. I am afraid I have no alternative other than to reject your complaint.

This has gone way beyond 6 weeks then now....

di3004

marshallka wrote: »

So this was the copy of the letter received by cheaptrick only just but written on 25th July then??

Is this what cheaptrick is replying to now....

Yes I think so because I am unable to find any replies since..... So this letter Cheaptrick is sending must be to this letter then, sending for a "Final decision", I know the letter (lloyds) mentions the FOS do you think Cheaptrick should have complained to them now instead of sending this letter to Lloyds ?

marshallka

http://www.thisismoney.co.uk/saving-and-banking/article.html?in_article_id=451716&in_page_id=7

Co-op top of the list here.....


As the best bank.....

I must say I am happy with the bank, just not the PPI...and the lying staff that told me that there was no PPI on my agreements trying to put me off making a complaint.

marshallka

di3004 wrote: »

Yes I think so because I am unable to find any replies since..... So this letter Cheaptrick is sending must be to this letter then, sending for a "Final decision", I know the letter (lloyds) mentions the FOS do you think Cheaptrick should have complained to them now instead of sending this letter to Lloyds ?

Can't do any harm but the only thing is that it may be a delay for cheaprick here in that the complaint should have been in before. Nothing they can do now if they have sent it but wait...

di3004

marshallka wrote: »

http://www.thisismoney.co.uk/saving-and-banking/article.html?in_article_id=451716&in_page_id=7

Co-op top of the list here.....


As the best bank.....

I must say I am happy with the bank, just not the PPI...and the lying staff that told me that there was no PPI on my agreements trying to put me off making a complaint.

Yes exactly, we have been with Lloyds ourselves for about 18 years joint and prior to that too on our own, and have always been satisfied as a customer and like yourself its the damn PPI side of it !!!

di3004

marshallka wrote: »

Can't do any harm but the only thing is that it may be a delay for cheaprick here in that the complaint should have been in before. Nothing they can do now if they have sent it but wait...

I thought it was 6 months from the final letter ? not 6 weeks.....:o or do you mean from that letter Cheaptrick received to sending the 2nd one now ?;)

Sorry if have I mis read this hun lol......:o

Cheaptrick

Hi guys,

Sorry if I am confusing you, the letter that I am asking your advise on is the response that I want to send to LLoyds in regards to the letter dated 25th July which I only received 25th September. Please let me know if I should send this to Lloyds or not. Thank you