Thread: lloyds tsb ppi and disability

If you were forced into the PPI when they fully knew that no protection whatsoever would apply and that you'd never be able to claim, then go after them with all your might. I thought the banks couldn't sink any lower, seems I was wrong.

As for the bank's reaction, well, if you're worried about possible retaliation, open a new bank account and maybe wait until the loan is paid off altogether. The Statute of Limitations gives you 6 yrs to seek relief, so you're not running out of time, it might be worth holding off if it means them not having that over your head.

Originally Posted by padaxes

We have a £5,000 pound loan with Lloyds tsb which is just about to finish (5 years). My wife is disabled and i am her carer. When we got the loan it was on condition we took out the PPI. As i tried to say at the time, surely the fact that none of us is able to work disqualifies us from a claim on this policy. My questions are, is this worth persuing and is there a time limit for doing so? My wifes mental state makes it difficult for her to understand how much we may have been overcharged and i worry about the banks reaction to a complaint. Like a lot of people, we live pretty much day to day and the thought of overpaying a large sum without any protection at all leaves a bitter taste. Hope someone can help.

Hello Padaxes

Welcome to the ppi forum,

I am so sorry to hear of your misfortune and we will help and guide you all that we can

Your case is a blatant case of mis-selling, and their downfall in all of this is that they have shown that they we not interested if the policy was sold fit for purpose they just wanted the profit.

As Bookworm and Uk have suggest open up a paracute account in the event that they close your account. I personally don't think they will

You need to send them a full S.A.R - (Subject access request) to get all of the information that you need regarding the loan. It costs £10, send a postal order with it, send it recorded delivery, so you know that they got it. You can check on the royal mail website that it has been delivered. There is a 40day statutory time limit for complaince.
Full S.A.R - (Subject access request) for ppi Amend it to your own details
Do you have the loan agreements with the figures, can you post the figures up for us to have a look at please.

No guarantees, obviously, but HSBC are not known for retaliatory account closures, actually, so you might still be all right, but you should still open the parachute account, just in case.

phone call harassment is unlikely to occur unless you fall behind with payments, so set your mind at rest, despite some of their behaviours which might make you wonder at times, they're actually not mafiosi who call with death threats in the middle of the night.

They probably will try to put you off reclaiming with key sentences like: "you knew you were agreeing to this" and "it is your responsability to check the terms" etc... but that's standard fare, and don't let that discourage you. If you can't find the agreement, then like HHNF says, get a SAR off to them, that will give you all the information you need. ;-)

Wouldn't it just...

Once you're paid up, there is no reason at all for them to phone you, so don't fret about that. I think you're right to wait, it's not long to go and it will give you that little bit of mental peace you need.

Once you're ready to kick off, let us know and we'll help the best we can. In the meantime, all the best.

Originally Posted by padaxes

Ok have finally received documents but am having a hard time using the calculator details are as follows.
amount of credit £5000 @ £116.37 per month
PPI (cash price) £1174.85 @ £ 27.35 per month
total amount £6174.85
:-?
fixed interest rate on total loan of 1.17% per month

annual percentage rate 14.9%

loan ran for 60 months from 03/06/03 to 03/06/2008

Can anyone help me with calculations please? and what is my next move? Is there a template for the next step?

Hello Padaxes,

I have looked at your figures and have worked out £27.35 x 60 which bring the total charge for ppi and the interest they applied to £1,631.00, so this is what you are after, plus interest at 14% (1.17% x 12months = 14.04%

I will work out the interest and come back.

Hello Again:grin:

Ok The PPI was a single upfront loaded policy so you claim your interest from the date the loan was taken out 03/06/2003

I have calculated £1.631 from the 03/06/2003 at 14% £1,235.54

There the amount you wish to returned to yourself is £2,866.54

I would start off asking for this one, interest to be paid at their contractual rate This is what they charged you, so if its good for them then rightfully good enough for you.

They may not agree

If it proceeds to the financial Ombudsman service or a court, we would be granted the 8% statutory interest, without question.

This works out at £1,631.00 at 8% from 03/06/2003 to be £706.02, so the minimum you will received is £2,357.02.

If you look in the info for ppi sticky you will find template letters, there are others kicking about the site.

Have a bash at one and you can post it up for comments, if you feel that you do not wish to post in on your thread, you can use the private message and we can look at it for you.

If your have any questions, just shout:grin:

Originally Posted by padaxes

Many thanks for all of your help with this. This has been ,because of other issues, a long, drawn out and painful process. Without the encouragement of your fine selves I doubt, very much , whether I would have gone through with this. I can only hope the rest of the process runs smoothly. You all have my deepest gratitude, now on to the next step.:grin:
By the way please be careful of the people advertising to reclaim for you, my wife was caught by them and we stood to lose 40%+ of any claim because she didn't read the small print. They were far from polite when i cancelled on them.

Hello Padaxes,

We are all here to help as much as we can. and yes you will go through with this, you are only reclaiming back what is rightfully yours

Get working on your prelim letter, as I said there are a few kicking about, you need to tell them the reasons you have for believing the PPI was mis-sold.

As regards these vulture companies who prey on vunerable people, they are worse that the ppi mis-seller, quick buck for a couple of letters that you can do yourself and keep all.

Plus you have complete feeling of satisfaction and victory when you right the wrong that has been done to you.

Onwards and upwards

Don't forget to ask if you are unsure, it won't cost anything:grin:

Originally Posted by padaxes

Another letter today and they are still 'looking into it'.Maybe they didnt look hard enough the first time!

Hello Padaxes,

Hope you are well

The letter are just a standard "lets take a while with this one, to frustrate matters" and is standard practice.

I would just write back now with your letter before action ,stating you are not satisfied with their response to date. Keep at them and show them you are not going away and stick to your timescale not theirs

Be confident

Originally Posted by padaxes

Got a no letter yesterday with Ombudsman leaflet. Letter said i have to prove i was unemployed at the time. DHSS being very unhelpful, "our records for that far back are archived and unavailable"??? Any suggestions on how i can get proof needed?
Of course at the time they took photocopies of benefit books, i wonder what income the approval of the loan was based on if they didnt know i was unemployed yet had no other income? Of course they are sure the correct procedure was followed!!

Hello Padaxes,

Hope you are well, Was this a letter that the DHSS sent you regarding their total unhelpfulness. I would write to them and ask again for any information that they hold on you as a data subject. either under a subject access requirement or freedom of information.

When Lloydds sent you your SAR did they enclose copies that they held of your benefit book?????????? Have you asked them for evidence of what income and your ability to repay the loan was based on???????? Do you have evidence in your bank statements of dhss payments and no other income.

Where they your bank for your bank accounts???????

There is still a lot that you can do, ask your gp for a letter, ask the rubbish dhss for a letter of confirmation that during ? to ? you where receiving benefits.

Keep at them