Thread: Lloyds PPI - one more letter? court? or wait for FO please help!

Hello claire,

Hello all,

I hope you can help me. I took out a loan with lloydstsb in 1998 first for £6000 with an additional PPI payment of £1.221.12 added on to it.

This was consolidated into another loan later in 1998 for £10,000, PPI was added again to the loan amount (£1836.16). As far as I know I was not refunded the insurance from the first loan (as it ended up being part of the loan if you know what I mean). Yes been there with 7 refinanced loans back as far as 1997 with Direct Line Financial Services and RBS (one and the same company now owned by us)

I was 21 at the time and inexperienced with finances. I was told I had to take the insurance or the loan "would not go through the system". The PPI was not optional as far as I was made aware. Another case of blatant mis-selling of PPI.

I paid my loan/s off in about 2002 I think but have always felt that Lloyds took advantage of my young age and situation and ripped me off.

With all the PPI media coverage, I requested all the paper work early in 2008. I received my loan statements, insurance booklet but they were unable to provide me with a copy of the loan agreements as they say they do not have them. They were from 1998, so I guess they have not kept them.

Last year I sent and received several letters to Lloyds. My main complaints were that I was told the PPI was not optional and also that adding the PPI to the loan meant I owed more. Yes and we all owed more because it was a con and the ICO now see it was a con as it is banned from 2010.

Their letters (and "final response") said I was not in the timescale to complain and that I could have cancelled and it was optional blah blah. Total hogwash consider options:

1. Complain to the fos sending copies of all letters and any other correspondence.
2. If the FOS do not uphold complaint then you still have the option of Court action.

I raised it with the FO about 7 months ago and have so far not had my claim passed to an adjudicator. They are totally snowed under with PPI complaints but you will get a result.

I would really like some advice on what to do next. Should I wait for the FO or try with another letter to Lloyds? or even make a court claim. Be patient I know it is your money but the FOS although slow due to workload will help and you can always keep giving them a call to check on the progress of your complaint..........Link here with contact numbers.....

Financial Ombudsman Service


Please help!

Thanks in advance
Claire

Hope the above gives you hope on your journey to get your cash:grin:

aa

When did you first complaint to then they are supposed to keep agreement for 6 years AFTER it finishes so if you first complained before July 2008 they should have had it at that time. Saying that they didn't have one of mine that ended in 2005 - shame I still do

hello Claire,

if you did not complain until June 208 when you became aware of mis-selling then you actually have six years from that date to claim and the Financial Ombudsman Service (although slow due to the amount of work - thousands of complaints about PPI) will eventually get a result and if not then you can still take Lloyds to Court HOW GOOD IS THAT?

Stick with it and make a case to reclaim your money.

aa