Thread: Lloyds Loan PPI Reclaim

We changed our morgage over to lloydstsb in 1999, sent the 1st letter to them and like you they said as it was over 6 years since we took out the PPI we were timed out! Have sent the 2nd letter, not giving up on this as they deff mis sold to us!

Hello please read this link by bankfodder.





yrs - important new information!!!

These practices by creditor have just come to light due to the recent coverage by the media.

Originally Posted by anitaparrott

Thanks for the link but I've read this already but I'm unsure how this fits in with me....... It seems to be about bank charges and this is PPI that I'm claiming back. I'm quite confused as to what they are talking about so here is the main part of the letter:

Thank you for your letter in which you state following and FSA investigations (I never said this in my letter) you feel you were mis-sold Loan Protection insurace with your loan taken out in December 2000.
The Financial Ombudsman Service guidelines states under section 2.3 Time Limits for referral of complaint to the Financial Ombudsmun Service, DISP 2.3.2 (1) (c):

The Ombudsman cannot consider a complaint:

More than six years after the even complained of or (if later) more than three years from the date on which he became aware (or ought to reasonably to have become aware) that he had cause for complain, unless he has referred the complaint to the firm You write to them and tell them that you are aware and want it back or the Ombudsman within that period and has a written acknowledgement or some other record of the complaint having been received. Are they not stating this to you

Legal limitation periods apply on contract law and the time limits for the referral of a complaint to the fos follow these rules. The legal limitation periods have been implemented to avoid the administration expense of examining "stale claims" and to avoid potential injustice to defendants in reviving old wrongs. and righting the wrong doings The length of time that has elapsed since the sale of your insured loan is such that any allegation of a mis-sale made after this time limit would be prejudicial to the firm being able to defend the allegation. and therefore would hopefully be home and dry and not have to refund the monies.

The FOS can consider complaints outside the time limts mentioned above when, in his view, the failure to comply with the time limits was as a result of exceptional circumstances.

I do not believe that the recent FSA and OFT investigations that you mention (I never mentioned this at all in my letter) would be considered to be exceptional circumstances and I am therefore sorry to confirm that you complaint is, in my opinion, outside the jurisdiction of the FOS.

The letter goes on but this is the main part..........

It seems like a standard letter but I'm unsure how to reply!

Can anyone help me please?

Hello,

This is probably just a template letter that they are sending out to all of the complaints they are receiving regarding mis-sold ppi. Probably most will not pursue this a they feel that there is no point. This is what they want you to believe. You did believe them about the ppi didn,t you!!!!!!The fos will not investigate complaints if they occured after 2004, but this does not mean that you cannot pursue it and you have the power to allow a judge to look at this.

The link discussed issuing claims for issues, whether it be bank charges, ppi, other issues, etc etc, for dates which are longer that 6yrs, The limitation act.

It is the fact that regardless of when the issue happens, they did not disclose the true facts that they had done it, and you now have become aware. and you want it back.

Read around the threads and even speak to the FOS and see what they say.

The normal reaction of these companies, is to deny, and deny and to try to put you off.

Originally Posted by anitaparrott

Thanks for the reply hellhasnofury.

I've found the bit from the limitations act in a linked post off the one you recommended. It makes more sense now!!!