We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Advice Required – Lloydstsb Ppi Gesture Of Goodwill
ABCandoit123
Posts: 3 Newbie
in Loans
ADVICE REQUIRED – LLOYDSTSB PPI GESTURE OF GOODWILL
After downloading Martin’s template letters and a little nudge from the Ombudsman, I have received a final response letter from the bank today stating that they do not believe that PPI on a smaller loan that I took out with them was mis-sold due to pre-existing medical conditions. On the other loan, they have neither agreed nor disagreed that they have mis-sold this PPI but have offered me a gesture of goodwill for the premium of £3,368 plus interest as full and final settlement of the complaint.
The bank has said that they will credit the loan account with the money and not my bank account. I wanted to use this money to clear my credit cards and put they rest in savings.
Can I insist that they credit my bank account or are they within their right to take off the loan account, especially when they haven’t agreed that I have been mis-sold in the first place?
Any advice would really be appreciated ~ many thanks
:money:
After downloading Martin’s template letters and a little nudge from the Ombudsman, I have received a final response letter from the bank today stating that they do not believe that PPI on a smaller loan that I took out with them was mis-sold due to pre-existing medical conditions. On the other loan, they have neither agreed nor disagreed that they have mis-sold this PPI but have offered me a gesture of goodwill for the premium of £3,368 plus interest as full and final settlement of the complaint.
The bank has said that they will credit the loan account with the money and not my bank account. I wanted to use this money to clear my credit cards and put they rest in savings.
Can I insist that they credit my bank account or are they within their right to take off the loan account, especially when they haven’t agreed that I have been mis-sold in the first place?
Any advice would really be appreciated ~ many thanks
:money: 0
Comments
-
If you do insist ( and I don't think that you can) then the bank also has the right to unwind the loan and only offer you a loan on your credit score today.
If your credit history has deteriorated then they may well offer you a loan at a higher rate.
You have had a result don't push it is my advice.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 355.6K Banking & Borrowing
- 254.8K Reduce Debt & Boost Income
- 456.1K Spending & Discounts
- 248.2K Work, Benefits & Business
- 605.7K Mortgages, Homes & Bills
- 179K Life & Family
- 263.5K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards