Student with ppi in 2001!

Katkins1982 · 9 June 2018 at 9:23PM

I had a credit card with lloyds back in 2001 , with ppi that I believe was mis-sold

I cannot remember ppi even being mentioned, just someone asking if I wanted a credit card in branch, I agreed and then it was posted to me (to subsequently max out)

I am in the process of filling in a form from lloyds that I received today. I have put my reasons for believing it was mis/sold as: I wasn't aware ppi was optional. It was not explained to me so I couldn't make an informed decision. I was a student therefore the policy was unsuitable.

What are my chances in these grounds of getting anything back? Bearing in mind also, this was 2001 and the card is long gone with no paperwork to back me up

McKneff · 9 June 2018 at 9:46PM

You would have read the terms and conditions on the form and signed to say you understood and agreed to them. PPI would have been in those terms and conditions.

Also it was before regulation (2005) and also unlikely they will have any paperwork after all this time so to be honest i wouldnt hold your breath, but you may just be lucky,
no one can tell you of the outcome to be honest.

you will just have to be patient but let us know how you get on.

Nasqueron · 9 June 2018 at 10:51PM

Katkins1982 wrote: »

I had a credit card with lloyds back in 2001 , with ppi that I believe was mis-sold

I cannot remember ppi even being mentioned, just someone asking if I wanted a credit card in branch, I agreed and then it was posted to me (to subsequently max out)

I am in the process of filling in a form from lloyds that I received today. I have put my reasons for believing it was mis/sold as: I wasn't aware ppi was optional. It was not explained to me so I couldn't make an informed decision. I was a student therefore the policy was unsuitable.

What are my chances in these grounds of getting anything back? Bearing in mind also, this was 2001 and the card is long gone with no paperwork to back me up

Lloyds were covered by GISC so have to consider your complaint

Send the complaint in and you may well get refunded (as a student unless you were working then it would not have paid out so it would be unsuitable)

Nasqueron · 9 June 2018 at 10:53PM

McKneff wrote: »

You would have read the terms and conditions on the form and signed to say you understood and agreed to them. PPI would have been in those terms and conditions.

Also it was before regulation (2005) and also unlikely they will have any paperwork after all this time so to be honest i wouldnt hold your breath, but you may just be lucky,
no one can tell you of the outcome to be honest.

you will just have to be patient but let us know how you get on.

Banks have to consider pre regulation complaints as they were members of a regulatory body before the FOS took over, only question would be whether they have any records and if it's Lloyds or TSB that have the details

Student with ppi in 2001!

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