Thread: cm08 v Lloyds PPI

Hi all,

I am trying to submit a claim for PPI over a loan between September 2004 December 2007 but I do not have an address to send me letter to. Can anyone help here please?

A little background fwiw. I applied for a Loan online in September 2004 and ticked the box to not receive PPI, I ended up getting PPI though and when I tried to cancel this a year later in September 2005 I was told I signed a letter they sent to confirm the loan via mail after my original application and on that form was something about PPI which I signed. I argued on the phone at the time that I did not ask for this in my application yet they said they could not find my online application for the loan so they could not help me. They also said they could not cancel my PPI at the time I rang back in September 2005 once I realised I was paying PPI.

Thanks for reading.

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Hi all,

Further to a previous post I would like to get a consensus on whether or not I may have a case for reclaiming PPI.

[Backstory]
I applied for a Loan with Lloyds TSB back in September 2005 where I ticked no for PPI on the application form. My loan was approved once I had given all the necessary information required and I was approved.

After the loan was approved I was sent a letter that I was told I needed to sign for the monies to appear in my bank which was signed once I had received it.


Long story short, this letter I was sent actually included some form of PPI which I did not ask or request for but unfortunately I was given it where I knew full well I was never eligable for it in the first place due to going abroad for a year out to travel/work in Canada.

When I returned home and found out about PPI (this being 1 year later after the original loan application was approved) I rang Lloyds to enquire about this and I was told I could only cancel PPI within 30 days of taking out the loan. I said I never requested this on my online application form and after a few minutes of waiting on hold they told me they could not find my application that I made online, therefore they would not help me nor stop the PPI which I also requested they do.

So here we are today and I am trying to claim this back but I am wondering are my reasons strong enough to actually get my money back? Or am I just wasting my time?

Thanks.

Thanks for sorting the thread/s/move for me.

Hi cm08

It seems to me that you have a very clear case of mis-selling here which you can either take to the fos as a complaint or begin court action. Either way, I think Lloyds would crumble and pay up. You recollect opting out of PPI and they are attempting to fob you off. This is contrary to all FSA guidelines and regulations on the selling of PPI which lenders are required to follow, and the Banking Code.

The first thing to do is send a SAR by first class recorded delivery requesting a true copy of the application form as signed by you, a true copy of the Credit Agreement as signed by you and the Terms & Conditions of the loan including the PPI element. The latter will include any exclusion clauses and may include a clause that allows you to obtain a refund and how much that would be. Even so, they mis-sold and you want your money back!!

Even though you made your application online (which would fall under the term 'non advised' sale, i.e., you didn't have a chat with someone about all the options available to you and whether PPI suited your needs) Lloyds are still obliged to make available to you information that will help you make an informed decision as to whether PPI is appropriate for your needs, any alternative options and the comparative cost of these against what they are offering. This would take the form of a 'Demands and Needs' Statement which outlines your options and allows you to make a choice.

Lloyds appear to have done none of this and the way they have operated seems very sharp practice to me!!! Grrrr

Send the SAR and post up the response from Lloyds, then you can move to the next stage of re-claiming your money.

If would like any help with the letter writing part, please let us know

Thanks for the reply, the information you have given me is very useful and encouraging.

I sent the letter (above) yesterday and I am hoping they will resolve it there and then. To be honest if they rejected my claim I was at a loss on if I should pursue this any further but your post has told me to keep pushing if I need to.

Either way I will post back the reply I receive, if it is negative I will do exactly as you said and continue to post all correspondence.

Again, thanks for taking the time out to give me some advice.

Hello cm08,

I fully back up paintball on post 7 in your thread.

Time to start to claim your money back (with interest) I would suggest

Paintball is good advisor and you can obtain all the information you need on the PPI forum. Have a good look at the stickies and other threads to gain knowledge on the reclaiming PPI issues. It is new and there have been successes but there is a long way to go.

Good luck;-)

aa

Thanks for all the replies of encouragement. I received a letter from Lloyds today confirming receipt that they have received my complaint. At least I know it is being taken seriously.

If they do reject my letter (Which I am half expecting) I can give you my word I will read up on everything suggested here and try to take things further as best prepared as I can.

Although, I dread the idea of having to consider court action (If it came to that).

and dont anyone believe the 'you can only cancel within the first 30 days' lie either. This is your cooling off period in which you will get a full refund of anything you maight have paid. After this you can still cancel but wont get a refund of premiums. If anyone tells you that you can not cancel, just ask them to confim therefore that that would make the insurance compulsory. Ask them to confirm in writing that the cover is compulsory just for fun...

hello cm,

and dont anyone believe the 'you can only cancel within the first 30 days' lie either. This is your cooling off period in which you will get a full refund of anything you maight have paid. After this you can still cancel but wont get a refund of premiums. If anyone tells you that you can not cancel, just ask them to confim therefore that that would make the insurance compulsory. Ask them to confirm in writing that the cover is compulsory just for fun...

from CHF they will try this ploy another way to put you of fighting to reclaim mis-sold PPI.

I cancelled my last PPI got a substantial rebate but still have two complaints lodged with fos, one with the ICO, one with the FSA, one with OFT, one with trading standards, one with British bankers Association.

Patiently awaiting outcome. Claims through Court would be quicker but if you lose your case that is end of game.

Good luck however you approach your claim

aa

Hi all,

I got a reply from the bank earlier in the week and it was quite vague to say the least. It started out by saying they will address each of my specific points as to why I should have a refund yet it when it came to there answers they were not covering my questions at all.

Example. I never signed up for PPI on my online application yet when they sent a form to sign to complete the deal they added it into the contract without my permission or knowledge. There answer to this question was attaching a photocopied page where I signed the document with no reference to my online application.

Can someone advise me on how to proceed with this please?

Do I need to write to my bank requesting a SAR? And would the address I write to for this request be the same as the address i have been using previously?

Thanks for reading.