PPI Reclaiming discussion Part II

maxdp

di3004 wrote: »

For anyone who missed this petition earlier, I will add again.
If your interested please sign.

Here is the info on that petition: Petition below the info.

More details from petition creator

Despite tight regulations by the FSA, Loan companies are still selling costly payment protection insurance to consumers. this product can be purchased independant of any loan at a far reduced cost, and without any conflict of interest. How can a loan company with insurance targets be trusted to sell an appropriate product to a consumer, when their is such temptation to steer them into buying a product that has the greatest financial gain for the commission based salesperson. Working within the industry I am aware of how inflated the premiums are, and how salespeople are still selling PPI in such a way that makes it hard for customers to say

http://petitions.number10.gov.uk/banppisales/

Done Di................:T

di3004

brought this here on behalf of a member.;)

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Lloyds TSB loan query
This is my first post so i hope it is in the right place.
My husband took out a loan in August 2003 from Lloyds TSB for £7,838.81 with PPI of £2,076.82 to be paid over 60 months at £254.05 per month. The loan also included £4,327 interest. In November 2004 we found ourselves in financial difficulties so we went to CCCS who arranged a payment plan with Lloyds TSB. We had already paid £3,810.75 in full payments and from December 2004 to November 2006 we paid through CCCS a total of £3,496.89.
We then moved to Pay plan and from December 2006 to now we have paid £6,038.04 a full total of £14,345.68. We received a statement from lloyds TSB stating that we still owed £2,633.99 when we say only £897.32 is left owing.
I sent a complaint letter via the manageress in our local branch (who also agrees with what we owe) and received a reply on Saturday 25 October saying that they will accept £2,249.30 as a settlement figure. Does anyone think that this extra interest is excessive for a total of 3 months over our 60 month term?
From December 2006 to July 2007 8 months payments were paid to Lloyds TSB by Payplan to account details given by Lloyds TSB but the payments were never taken from the loan. I went to my local branch and the manageress took 3 months to trace and payback to the loan £1,443.21 which had been kept in a pending account by Lloyds TSB. We have incurred charges for 'non payment' for this period as well as further interest added again for these 'non payments'.
My husband is now nearly 70 and i am in my early 60's and wanting to retire in the near future.
I want this to be settled before i retire and this is the only thing that is stopping both myself and my husband being debt free. I have tried for over a year to sort this out with Lloyds TSB but they will not listen to what i have to say. I am also trying to claim back the PPI on this loan but they have so far refused to pay this back aswell.
Has anybody got any advice for me....can anyone help??
Many thanks in advance.

[EMAIL="abuse@moneysavingexpert.com?subject=Reporting post http://forums.moneysavingexpert.com/showpost.html?p=15347805"][/EMAIL]

marshallka

Maxdp, still not got the email..

di3004

di3004 wrote: »

brought this here on behalf of a member.;)

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Lloyds TSB loan query
This is my first post so i hope it is in the right place.
My husband took out a loan in August 2003 from Lloyds TSB for £7,838.81 with PPI of £2,076.82 to be paid over 60 months at £254.05 per month. The loan also included £4,327 interest. In November 2004 we found ourselves in financial difficulties so we went to CCCS who arranged a payment plan with Lloyds TSB. We had already paid £3,810.75 in full payments and from December 2004 to November 2006 we paid through CCCS a total of £3,496.89.
We then moved to Pay plan and from December 2006 to now we have paid £6,038.04 a full total of £14,345.68. We received a statement from lloyds TSB stating that we still owed £2,633.99 when we say only £897.32 is left owing.
I sent a complaint letter via the manageress in our local branch (who also agrees with what we owe) and received a reply on Saturday 25 October saying that they will accept £2,249.30 as a settlement figure. Does anyone think that this extra interest is excessive for a total of 3 months over our 60 month term?
From December 2006 to July 2007 8 months payments were paid to Lloyds TSB by Payplan to account details given by Lloyds TSB but the payments were never taken from the loan. I went to my local branch and the manageress took 3 months to trace and payback to the loan £1,443.21 which had been kept in a pending account by Lloyds TSB. We have incurred charges for 'non payment' for this period as well as further interest added again for these 'non payments'.
My husband is now nearly 70 and i am in my early 60's and wanting to retire in the near future.
I want this to be settled before i retire and this is the only thing that is stopping both myself and my husband being debt free. I have tried for over a year to sort this out with Lloyds TSB but they will not listen to what i have to say. I am also trying to claim back the PPI on this loan but they have so far refused to pay this back aswell.
Has anybody got any advice for me....can anyone help??
Many thanks in advance.

I would contact them and ask them to provide you with a full explanation of the breakdown in writing.

And Lloyds are not the easiest of them to deal with, due to my experience and others I have read.

I note that you have said you have sent off another letter to ask them to reconsider your complaint?
How long have you been waiting for this this reply?

If they send you another unsuccessful letter, make sure this is their final response, because then you can take your complaint to the financial ombudsman service, and when you do this, enclose all copies of correspondence received from LLoyds, including the copy of the final response letter.

I can understand how you feel here and it must be so difficult for you.

Did you mention on your last letter to them that you will take your complaint to the financial ombudsman service if they do not resolve this for you ?

Now regarding the other issues, have you thought about contacting your local CAB who may be able to help you through this directly?
You can also make them aware that you have put a letter(s) in to try to reclaim on the PPI and are still currently waiting for the final response.

The CAB (Citizens advice) will help you through your ordeal here and this will take the burden from both yourself and your hubby.;)

Please just post anytime where we will try and help and guide you where we can and the very best of luck.

Di.
x

marshallka

di3004 wrote: »

Do you think anyone could please check out these calculations for a member, thank you..........:D


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Loan Interest: Can Anyone Work It Out For Me?
Hi,

In the summer we took out an RBS personal loan of £22,000 over 7 years at 8.58% APR

The redemption penalty is stated in the T&C as 58 days interest calculated on a daily basis on the outstanding balance however, at the time we managed to get that down to 28 days because we knew we would shortly be paying it off in full. This change was confirmed by letter at the time.

Now we want to pay it off but I am convinced we are being charged the full 58 days of interest.

The bank is 'not able' to tell me what the daily interest amount is and 3 different departments have automatically generated the same redemption figure

Please can anyone tell me if this redemption figure is correct:

Loan amount: £22,000 / 7 years / 8.58% APR

Redemption figure: £21,809.47

Monthly payment: £349.83 / 3 payments made

No PPI taken out

Cheers

If you redeem a loan early then you usually have two months interest to pay so look at that as 3 months repayments of 349.83 and take that off leaving 20950.51 and then add two months interest of about £157 per month so £314 and then usually fees for cancelling of around £150.00 so that being about £21415.51 so looks like the fees were more for this than £150... or the interest less and the fees even more...

mlucyminx

hi people,

Havent been on for a few days.

hope you are all well.

Di did you manage to get things sorted with your son at school? Hope so.

Can I do some brain picking please?

We have sent letter to nemo asking for a sar. Sent it on wednesday got reply on friday.

Have asked for sar regarding one party although had joint account on something. they have sent letter back asking if we just want info on the one person. If want info on joint people need written request from other party. At this stage we are just interested in what might be claimable as b/f thinks he may not have had ppi with this loan ( I said thats the point of finding out. you dont often realise you have it). If he requests just his info will they send details of joint loan but just not other party's details? We realise that to persue any claim we will probably need other party's consent

Any advice appreciated.

marshallka

mlucyminx wrote: »

hi people,

Havent been on for a few days.

hope you are all well.

Di did you manage to get things sorted with your son at school? Hope so.

Can I do some brain picking please?

We have sent letter to nemo asking for a sar. Sent it on wednesday got reply on friday.

Have asked for sar regarding one party although had joint account on something. they have sent letter back asking if we just want info on the one person. If want info on joint people need written request from other party. At this stage we are just interested in what might be claimable as b/f thinks he may not have had ppi with this loan ( I said thats the point of finding out. you dont often realise you have it). If he requests just his info will they send details of joint loan but just not other party's details? We realise that to persue any claim we will probably need other party's consent

Any advice appreciated.

To request a joint SAR then both have to sign otherwise all the info of the other will be omitted from the one you have requested under. They cannot sent anything joint in a SAR for one person.

mlucyminx

maxdp wrote: »

Am fine thank you Di hope you are too. Have had to take mother in law to hospital today for a veinogram to look at her heart/ Thought she may have to have new valve fitted but needs coronary by pass urgently which needs open heart surgery:eek: She is 79 so not looking good. Cannot do key hole surgery cause she had radiotherapy 30 years ago for breast cancer. This is not good for open heart surgery either cause of scar tissue.

Worrying time 3 months recovery. Do I look after her in my house Imagine recouperating with 2 teenagers in the house:eek:

Sorry all know it is not PPI related but there we go.

Good luck. A difficult time for you. Hope all goes well

maxdp

marshallka wrote: »

Maxdp, still not got the email..

will send again:D

maxdp

mlucyminx wrote: »

Good luck. A difficult time for you. Hope all goes well

Thank you mlucymix