PPI complaint - stuck what to do now

Danny16 · 27 May 2019 at 1:25AM

Hi there, not sure how too start but here are the facts to the best of my knowledge.

My dad was banking with TSB and in 1989-92 got various financial products

- Loan with PPI attached (offer 1700 made & cheque received).

- Credit Card - "Having checked our records in line with your concerns, they don't show that you took out a PPI policy with the product quoted above. Therefore I'm unable to investigate your concerns further"

- Overdraft - It states "Thank you for getting in touch with us about payment overdraft protection sold with the above account. This is a form of payment protection insurance" but then the next line states "Our records indicate that a PPI policies were not taken out the the product(s)quoted above. Therefore, I'm unable to investigate your concerns further" and I just don't know what to make of it, it's saying my dad bought it but then saying he didn't? -

- Commercial Overdraft CORI (Commercial Overdraft Repayment Insurance ) / BLRI(Business Loan Repayment Insurance ) - Asking to provide more information ;SC/AC,Documentation of PPI,Business name. Now with this one it's says "unknown" on loan/account reference and business name. Now my concern is that they've found it and have the information yet are unwilling to pass on the information or are acting as if they don't have me knowing it's been so long and a high chance to have no paperwork as both these products I believe were missold entirely due to what he has told me when taking out the product.

His memory is that he had a "letter of intent" signed and witnessed signed over a business deal, he went to the bank and spoke to the manager and explained it he was buying out a lease he co owned and someone was buying the property outright so he showed the bank manager the letter of intent and asked to borrow £xxxx The bank manager said there's no point in a loan there's no point in a mortgage because it's a back to back deal short term and will be settled within a couple of months, so have this business overdraft sign here and here and he walked out with the monies - is this mis-sale as the manager knew it was a short term deal and didn't necessarily need the cover offer?
Now the deal fell through and the person with the letter of intent got taken to court anyway the deal finally happened and debts were settled, a little longer than expected but not much longer. He also made an omission that he failed to read his bank statements/paperwork properly only at what was there and what had to be paid as those were his only concerns at the time with everything else going on.
Now he mentioned to me only of this and having a credit card with TSB and this is what I queried. Lloyds TSB came back saying they found PPI on A loan which was settled 4th Mark 1999
OD,CC,CORI,BLRI. After raising a complaint so I say congratulations to them and hats of to finding all that
BUT
Then they are saying that no ppi on CC(PPI) or OD(POP) and asking for more information on CORI and BLRI on Commercial Overdraft.
I have thought about doing a SAR on my dad's behalf but because of how long ago it was I see this as somewhat pointless? Please correct if I'm wrong.
Also I'm completely unsure of the offer, the maths I do is either under or over? now I don't know the if I'm right because I get confused easily in that department but here is what they sent back can anyone clarify if this is around correct?
- Repayments made 42/48
- £500.49 single premium PPI policy added to the loan
- £415.37 PPI premiums to be refunded
- £214.33 debit interest
- £629.70 TOTAL
- £79.61 extra amount you paid due to PPI on your previous loan or when you refinanced/settled your loan
- £1237.92 Gross compensatory interest
- £247.58 tax withheld
- £1699.65 TOTAL
Now if someone could make sense of it, I do somewhat but I just don't know if the math is correct, could someone please help here?
And I'm wondering what are the chances of FOS? In terms of the business overdraft.
Thanks

I just feel that LLoyds are playing with my dad, now he's an old disabled man (71) and is on a lowly state pension that's topped up with pension credit. He also has had a loan with Yorkshire Bank that I've put in a complaint about as he knew nothing of having PPI (if they say it was never there then that's fine) and a Mortgage with Leeds & Holbeck building society and I haven't put in a complaint just a query into his old accounts. And I'm not expecting a huge thing in terms of the mortgage as after extensive reading that there isn't usually much too complain about.
I will keep you guys updated on the rest
&&&
If anyone can help on any of the many things I've written your advice would be much appreciated and if anymore information is needed to help further my aide I shall bow at your benevolent wisdom

[Deleted User] · 27 May 2019 at 7:33AM

It means he only had PPI on the loan and he's getting full redress for that.

No one is playing with your dad and FOS won't increase the payment or make Lloyds find PPI where there isn't any.

Danny16 · 27 May 2019 at 12:42PM

I understand what you are saying, my issue is that the letters seem contradictory? Saying he has PPI on the products then they say no PPI is on the product. Can you clarify if this is correct? Or if this is the standard way they process PPI? Say you have it then say they can't find it?
And you say "or make Lloyds find PPI where there isn't any" - my argument is that there has been tonnes of stories and case studies of Lloyds making it "difficult" or "shorting" redress and I feel the same is happening with my dad's case/complaints . Now I believe all your going to say is "claim company myths" yet it has been proven over the years that Lloyds have used underhand tactics to mitigate payments. Now if I'm wrong on this please do correct me.

Also you mentioned "he's getting full redress for that"
Does that mean you have done the math and that the offer given is correct? Can you supply me with some math to clarify that that is the correct compensation/redress
Thanks for your help

BoGoF · 27 May 2019 at 12:53PM

Way too much irrelevant information if you want people to read it all. I didn't but would comment as follows;

Overdraft - are they not just saying it is a form of PPI but they have no record of it being taken out?

Business stuff - does PPI mis selling apply to business products?

cattie · 27 May 2019 at 1:09PM

I read it that PPI was an option offered on the overdraft if customer required the cover, but that it was not taken out by your father.

On the loan they are refunding monies as stated for this because PPI was taken out.

Danny16 · 27 May 2019 at 1:24PM

In regards to the overdraft the letter states "about Payment Overdraft Protection (POP) sold with the above account"
Then on the next line says "our records indicate that a PPI policies were not taken out with the product quoted above"
But it clearly states "sold with the above acciunt" doesn't that state he was sold it?

And if it's too much information should I remove some to make it easier to read?

And mis-selling does apply to business products as I've spoken to JMP Partnership in regards to this - they charge 20% and have 95% success rate with Lloyds business PPI/CORI/BLRI and they advised me to exhaust all avenues before going to them but they would happily take the case on.
I'm trying to clarify information and see my standing on things.
Any help is appreciated thanks.

antrobus · 27 May 2019 at 2:05PM

Danny16 wrote: »

In regards to the overdraft the letter states "about Payment Overdraft Protection (POP) sold with the above account"
Then on the next line says "our records indicate that a PPI policies were not taken out with the product quoted above"
But it clearly states "sold with the above acciunt" doesn't that state he was sold it?

You've complained "about Payment Overdraft Protection (POP) sold with the above account", and Lloyds have stated that "our records indicate that a PPI policies were not taken out with the product quoted above"..

Danny16 · 27 May 2019 at 2:14PM

"Thank you for getting in touch with us about payment overdraft protection sold with the above account. This is a form of payment protection insurance" doesn't this statement state that POP was sold?
I understand that "our records" show no PPI but my point is why is it worded this way, I still see it as them saying - thanks for getting in touch regarding POP sold with the above account.
Is that not how it's meant to be read?
Again thanks for any and all clarifications

supersaver1000 · 27 May 2019 at 2:31PM

It is quite a long post so I haven't read it all, but I had some similar wording about having PPI but not having used it and therefore had nil refund.

I can vaguely remember having some PPI on credit cards and an overdraft where you signed up for payment protection but were only charged for it where you didn't didn't repay in full monthly or went into the overdraft.

Edit - and don't forget to look into reclaiming the tax - there's a page on MSE about this.

antrobus · 27 May 2019 at 3:54PM

Danny16 wrote: »

"Thank you for getting in touch with us about payment overdraft protection sold with the above account. This is a form of payment protection insurance" doesn't this statement state that POP was sold?

Yes. But not on your father's account it seems.

Payment overdraft protection may well have been a product that Lloyds sold at the time, but their "records indicate that a PPI policies were not taken out with the product quoted above"..

Danny16 · 27 May 2019 at 4:06PM

Thanks antrobus
I feel that may be the case, I just feel the wording isn't great as it does state "sold with the above account"
I feel like it should be worded more like "thanks for getting in touch regarding POP and whether it was a product that was sold to you" - much simpler to read. And no questions over the "sold with the above account"

Also if anyone can clarify/check the math on the redress and confirm if that is correct.

Also does anyone have any ideas on what steps to next take with Lloyds regarding his CORI and BLRI on his Commercial Overdraft ?

And in regards to his CC I stated above what the letter stated, I did fail to mention that it clearly stated "it was sold on the account above" in one letter then the next letter says they can't find the records? Any help on this?
Many thanks again

PPI complaint - stuck what to do now

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