Thread: Lloyds Credit Card - have I clobbered them?

Hello Mummybord!

That's a good start for sure.

However, wait until you get all of the Subject access request (S.A.R.) details back before taking things too far.

Make sure they do send you everything when dealing with your S.A.R., specifically any Voice Recordings if any of the Card Application was done over the Phone.

That's just in case they have something like, say, a Recording of you on the Phone saying Yes to PPI. That in itself won't win things for them, as they may well have been required to ask you many questions to work out if the PPI was suitable, as it was a Contract of Insurance.

In other words, get all the Ammo first!

HTH

Cheers,
BRW

Originally Posted by mummybird

Thanks Brw
I do remember completing the form at my local branch (and the Sort Code is on the top of the form), not on the phone, so think I'm safe there. Will keep you posted
regards
mummybird

Hello Mummybird

You look like you know what its about, just wanted to welcome you on board:grin:

Hi...

I am in the same position with Capital One.... this is the first letter i sent...

Dear Sir/Madam,

I believe i have been wrongly paying for a payment protection insurance policy and would like to request a full refund of my premiums, plus any interest paid.
I have recently recieved a copy of my Credit Card Agreement from you along with a copy of my original signed application. When applying for the credit card, i clearly stated that i DID NOT want payment protection insurance by ticking the 'NO' box. The agreement clearly shows that i did not tick, or sign, in the PPI section. Again, this clearly indicates that i did not wish to purchase Capital One Payment Protection Insurance.
I enclose copies of both dicuments for your perusal.
I am frankly shocked that you have operated my ay account in this way as i always reposed confidence in your integrity and expertise as my fiduciary.
I do not believe being forced to pay for this policy is a fair and reasonable obligation as i did not need this insurance and said at the time of making my initial application that i did not want it.
I require a full refund of all my insurance payments, plus interest, which totals £xxxx.
If you do not respond, or you do not respond positively within 14 day, i shall send you a letter before action, giving you a further 14 days in which to reflect. After that, there will be no further communication from me, and i shall issue a legal claim at the expiry of the second deadline, report the issue to the FSA, Office of Fair Trading and also to Trading Standards.

Yours Faithfully,


They then replied to me saying the insurance was taken out over the phone! (which is rubbish!) I've just sent another nasty letter explaining they are in breach of the Data Protection Act as they did not send any phone transcripts with my SAR! Its all good fun!

Anyway, Hope this helps...

Hi Br4ndy,
Liked your letter, but I've just had a thought. Having submitted several bank charges reclaims for my family, I don't think we can ask for interest until we file a claim with the Courts - something about interest under s69 County Courts Act 1984. Perhaps somebody can help on this? I'd like to know before I send off my letter. Just to clarify what I'm saying - Yes- we can claim interest from the date the charge was made, but we can't do that yet.

Any comments

Originally Posted by mummybird

Hi Br4ndy,
Liked your letter, but I've just had a thought. Having submitted several bank charges reclaims for my family, I don't think we can ask for interest until we file a claim with the Courts - something about interest under s69 County Courts Act 1984. Perhaps somebody can help on this? I'd like to know before I send off my letter. Just to clarify what I'm saying - Yes- we can claim interest from the date the charge was made, but we can't do that yet.

Any comments

Hello Mummybird,

I personally would ask for the contractual interest that they charged you and if it lower than the 8%, I would ask for that. If you don't ask you don't get. There is no reason why you cannot ask for it, before you go to court.

I personally have been refunded two very large PPI premiums, the interest the charged me for it, and then interest from the date the loan was taken to the date they paid me

Start as you mean to go on, I would say

Originally Posted by mummybird

Thanks HHNF
I'm being a bit thick. Don't quite understand this contractual interest. With Bank charges I used the spread sheets to calculate the amounts and the interest and first of all submitted the sheets with the interest removed and then when I started by court claim included the interest column. I thought interest was calculated on the amount it would have earned if the money hadn't ben taken of us. Am I being stupid?

Hello Mummybird,

No you are not being thick.

Everything is simple when you understand it

The contractual interest is the interest that they charged you (in your contractual agreement)

ie the interest rate they charged you for lending money. If it was a loan and the interest they charged you was ie 9.9%. It is only fair that you ask them interest back at 9.9%.

If it was a credit card, the interest is always higher, say 18.9% that is what you ask for, that is contractual interest.

If they do not refund you and you take them to court, you can still ask for the contractual interest and the judge will decide whether or not you are given it. If he does not allow it, you will receive the statutory interest of 8%.

The basic bank charges template work out the statutory interest automatically, but if you use the Advanced Excell or Advanced Word you can change the interest rate to what ever you like

Hope this clarifies the difference for you

Originally Posted by mummybird

Thank you once again HHNF.
I'm still not quite there yet. I thought I was claiming interest on the amount of PPI they had charged me, whcih incidentally is over £2000.00 and that we all had to accept that we had to pay interest if our balance wasn't cleared each month, which it my case it wasn't. Just to fill you in -this is probably totally irrelevant but here goes.......
We bought a ruin in Spain and moved out to renovate, with a promise of work, but I'm afraid it went wrong. My CC was my only way of surviving, otherwise we would have starved. It enabled us to get back to the UK and keep us until we could get some benefits. My husband is now disabled.
Whilst in Spain I asked Lloyds for a loan to tide us over.They refused and said keep using the CC and they'd sort something out for us when we got back to the UK. Further to that my Aunt died and left me a little money and I paid the solictor's cheque into the bank and they still wouldn't let me draw on it for 7 days (it was Christmas)and told me to carry on using my CC.
This is just to illustrate the attitude of Lloyds although I have banked with them for about 35 years.Sorry for the ramble
mummybird

Hello Mummybird,

Lets see if I can explain it a little better,

If you spend money on your credit card and they charge you £10.00 in payment protection insurance, This is added to your balance and they charge you interest on it, so if the contractual interest they charge you is 16.9%, they will add on 16.9 pence. So they will charge you £10.16p for that privilage. So you are putting these figures on a spreadsheet, the ppi taken, the interest they charged you, and the spreadsheet will work out the interest from the date you paid it to today ( you just change the interest rate to the one they charged you