PPI Reclaiming discussion Part II

di3004

TheClarks wrote: »

Indeed, our list is quite long :rotfl:

and the key items are all around the non-disclosure of loading the policy on the loan and the term of the policy only be 5 years.

As mentioned our only concern now is how they handle the loan as we are only a couple of years into it.

lol.......:rotfl: , mine have always been long - it will keep them on their toes then hunni lol......:D .

Was this a consolidation loan by any chance? (just need to make sure here);) such as having this existing one following the first one sort of thing?

What they may suggest is that if your successful in this reclaiming on loans that are active is that they will refund you and put you back in the position as if you did not have the ppi and they may insist on recalculating this by deducting the loan.
However, if they agree it was mis sold you can request to have this paid directly to you.;)

di3004

TheClarks wrote: »

Yes

Happy to cancel and fight for refund or if they cancel automatically as they don't like me anymore even better

You go and fight for what is rightly yours hunni.;) .

Now only for you to know that when you do have this cancelled, you may be surprised that the payments will not come down a lot, but as you seem to have a strong case here they will have to pay back every penny of the ppi plus interest and so.;)

I have been with my bank for 18 years or even more now and have 3 complaints with the FOS about these (lloyds), and it did worry me a little at first that they may try and close the account, but not worried anymore.

Mind you I do not receive any junk mail from them anymore.....:rolleyes: , wonder if that is a good or bad thing lol......:o .

taylor72

does anyone happen to know what the success rates are for getting fos to upheld ppi complaints with lloyds ( just being curious here!)

TheClarks

di3004 wrote: »

lol.......:rotfl: , mine have always been long - it will keep them on their toes then hunni lol......:D .

Was this a consolidation loan by any chance? (just need to make sure here);) such as having this existing one following the first one sort of thing?

What they may suggest is that if your successful in this reclaiming on loans that are active is that they will refund you and put you back in the position as if you did not have the ppi and they may insist on recalculating this by deducting the loan.
However, if they agree it was mis sold you can request to have this paid directly to you.;)

The is a further advance loan on a previous loan we had with them, so they closed the first one and re-opened a new account (so we will claim for first loan too which we had for 2 years).

Definately mis-sold

di3004

taylor72 wrote: »

does anyone happen to know what the success rates are for getting fos to upheld ppi complaints with lloyds ( just being curious here!)

Hi taylor72
Both me and hubbys complaints has been in with the FOS since JULY this year, although these are all separate complaints against Lloyds PPI, I finally received a phone call today from the adjudicator to let me know he has started dealing with my complaint and it should be a few more weeks before I hear something.
However if it becomes complex this then is usually passed on to the financial ombudsman to deal with which will obviously take longer. This can vary from one complaint to another.

Maybe someone else who have been complaining about LLoyds could confirm this, I would be happy to know too.:D .

di3004

TheClarks wrote: »

The is a further advance loan on a previous loan we had with them, so they closed the first one and re-opened a new account (so we will claim for first loan too which we had for 2 years).

Definately mis-sold

Okay thanks for letting me know.;)
The chances are on the first loan a bit like mine really, they had rebated an amount which you do not actually see but minus the first loan of the ppi and carry the remainder of the loan amount of what is left on that one onto the new loan.
I feel although you will have something back from the first one it may not be so high as the 2nd one.

Marshallka with a bit of luck will go into this later for you, as she has experience with this company.
I do know they rip their customers off big time......:mad: .

Is there a possibility that you could just post up your calculations of when the first loan was finished - if you still have these hunni?
Cheers.:D

tiggrae

taylor72 wrote: »

does anyone happen to know what the success rates are for getting fos to upheld ppi complaints with lloyds ( just being curious here!)

have a look on the successes forum

TheClarks

I'll have a look when I get home, as I have failed to find the first loan agreement docs since I started this :rolleyes: but defo have the new ones.

di3004

TheClarks wrote: »

I'll have a look when I get home, as I have failed to find the first loan agreement docs since I started this :rolleyes: but defo have the new ones.

Thats okay.;)
If your unable to come across the first ones, contact them to request a copy of the first loan agreement and the breakdown of the calculations on the first loan.
They should be able to provide you with this, you have a right to ask, good luck!;)

marshallka

tiggrae wrote: »

just a point - only a court can award the 8% - but if you've put on your form for the FOS about how you want the business to 'put things right' that you want the 8% statutory interest the FOS will request the banks to repay it - but you have to ask for it

I did not know that either Tiggrae, i thought they awarded it anyway???