PPI offer- appealing amount

lee1972 · 13 August 2018 at 1:47PM

Hi

I've received an offer from Lloyds for PPI I had on credit cards.

They've offered £3370.81 :T calculated from January 1994 until June this year. However, I've found evidence that the original PPI agreement was made in June 1980. I've therefore decided to appeal the offer.

Has anyone had any success doing this? Also, is anyone good enough at maths do be able to give me an idea on what extra figure I should be holding out for?

Many thanks

Lee

Nasqueron · 13 August 2018 at 1:51PM

If you can prove you had PPI and paid it every month from 1980 then you should get more.

If you only took the policy out then but have no evidence you paid it, it would be difficult to argue either way because you can have PPI but not pay anything for it if you didn't have any balance on the card.

There is no way to know what you should get because none of us know how much you paid, if you have evidence you left thousands of pounds of balance on the card then you'd pay lots, if you cleared every month you'd have paid nothing.

[Deleted User] · 13 August 2018 at 1:52PM

Impossible to say, as it depends on how much you paid in PPI, and the evidence you provide them.

Somewhere from zero upwards. is the best guess.

dunstonh · 13 August 2018 at 2:09PM

I've found evidence that the original PPI agreement was made in June 1980. I

Wow. You must have had one of the first PPi plans going. Does it actually say PPI or is it just the credit card agreement?

Has anyone had any success doing this?

Its usually evidence of payment and balance history that matters. For example, a credit card with PPI on it would not pay a premium if there was no borrowing on the card. So, just having PPi doesnt mean you paid in that period.

Also, is anyone good enough at maths do be able to give me an idea on what extra figure I should be holding out for?

You are jumping the gun by a long way there. What evidence of payment do you have?
Did you borrow money on the card (i.e. not pay off it) right from the start in 1980?

[Deleted User] · 13 August 2018 at 2:47PM

lee1972 wrote: »

However, I've found evidence that the original PPI agreement was made in June 1980. I've therefore decided to appeal the offer.

You can't "appeal" the offer unless you can show that you had (and paid) PPI for longer than the Bank's records show.

It's extremely unlikely that your credit card would have had PPI in 1980 since such insurance didn't become mainstream until the very late Eighties.

Without documentation showing categorically that you had a PPI policy prior to 1994, you will be wasting your time, the bank's time and the Ombudsman's time.

lee1972 · 14 August 2018 at 8:35PM

OK- some more info here.

After I had made the original claim, the bank rang me and asked me a few questions. At the beginning of the call, the agent mentioned that the PPI policy had been taken out in June 1980 which I thought sounded about right- it was such a long time ago though.

When I received the offer of £3370.81, the bank had included an appendix to tell me how the calculation had been made. This stated that the calculation had been made using January 1994 as start date for the policy-

"Due to the length of time which has passed, we no longer hold all records relating to your account. Using the information we do hold, we have assumed that your first PPI premium was charged from the following date: January 1994"

At this point I remembered the conversation that I'd had with the agent and decided to request a copy of the call. I received this after writing to three separate departments (I was pushed from pillar-to-post a lot) and after I listened to it, it confirmed that the agent had admitted that the PPI policy had been signed in June 1980 (in fact, he says this twice).

On the day I made the above post I had already written and sent a letter appealing the offer and asking why the calculation had not been made from June 1980 rather than Jan 1994. This is what I wrote-

"your agent states that the original PPI policy was taken out during June of 1980. I am therefore confused as to why in your letter you state that you assume that the first premium was taken in January 1994, when your own records show that the first payment was taken much earlier than this (at some point around June 1980)? Please could you therefore explain why January 1994 was used as the date for calculating the amount of compensation I am due, rather than June 1980?"

The bank has therefore admitted I had the policy and must have the paperwork which shows this, or else why would the agent say that I had PPI in 1980?

Additionally, I made the PPI request following receiving a mountain (this is only a minor exaggeration!) of paperwork from an SAR request. I have found the form I signed in 1994 where the box for PPI was ticked for me, but have not found the agreement from 1980 which the bank must have had for this agent to have mentioned it? Does this therefore mean the bank has also breached data protection law??

I tried to calculate what they might owe me on top of their offer using the information they gave me in their appendix. If I assume that the balance on my cards was the same (I always maintained a balance, sometimes small, and sometimes larger but never "maxed out") and the PPI payments were similar, I believe they owe me around another £2k for the period from June 1980 to December 1993. However, I've asked them to look again at their offer and contact me within 28 days with their final response, at which point I may go to the Ombudsman.

Basically that's it! Advice so far very much appreciated and any further advice very much appreciated also.

Lee

[Deleted User] · 14 August 2018 at 8:45PM

lee1972 wrote: »

but have not found the agreement from 1980 which the bank must have had for this agent to have mentioned it? Does this therefore mean the bank has also breached data protection law??

You're mixing things up here.

They have a record of when you opened the account. They don't have the agreement.

There is no breach of DPA in not having the agreement.

lee1972 · 14 August 2018 at 8:54PM

OK... that clears that one up. Thanks for that

What do you think the chances of my “appeal” succeeding are?

[Deleted User] · 14 August 2018 at 8:58PM

Slim.

It's possible they may make an assumption over the average balance but I doubt it. It sometimes happens with loans, but credit card balances are much more variable.

lee1972 · 14 August 2018 at 9:00PM

Ok thanks.

I!!!8217;ll update when I hear something.

dunstonh · 14 August 2018 at 9:13PM

The bank has therefore admitted I had the policy and must have the paperwork which shows this, or else why would the agent say that I had PPI in 1980?

Not so. They may have on their systems that you had a debt with PPI on it from the start. That may be all that exists. (probably is given the year in question)

It could also be an error in data conversion. When I was at a bank in in the late 80s, we had to manually input data on to the new computer systems from the old paper records. Where a date wasnt available, we used to input a fake start date. Either a rough guess or January 1980 if no clue.

Does this therefore mean the bank has also breached data protection law??

No.

What do you think the chances of my !!!8220;appeal!!!8221; succeeding are?

Impossible to say. Evidence and luck will be the key.

PPI offer- appealing amount

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