Thread: Lloyds settled loan PPI reclaim - advice please! ***WON***

Hi everyone,

We have just discovered some paperwork for two old loans we had with Lloyds TSB which were both settled in full in 2003 and 2004.

Both of these loans had front-loaded single premium PPI and on settlement, according to the statements I have, we received a refund of around 70% of the premium.

We are currently underway with claims for mis-sold PPI on two current loans we have with Lloyds and believe the PPI on these previous loans was also mis-sold.

What I am struggling with is how I work out how much PPI we should be asking for back, having already received a partial refund when the loans were repaid.

Both loans were repaid early, after only 8 and 5 months respectively.

The second loan was used to pay off the first. On the second, larger, loan we also had to pay an early settlement fee of £185 which is mentioned in the T&Cs.

I have put the figures for each loan into the single premium PPI spreadsheets and have figures for both statutory and contractual interest.

The only way I have been able to work it out is by taking the amount we were refunded away from the figure the spreadsheet has come up with, but I'm sure it must be more complex than that.

Can anyone help me with this please? I would like to get the letter off to the bank today if possible

Thanks in advance,

Landy x

Hi Alan,

Thanks for your response - I have just spent the last few hours reading your very long and very informative thread and will (if you don't mind) pinch a few choice phrases which you used in your letters to reclaim your PPI! Very well done to you for your win against RBS!

As a result of all that reading I won't be getting the letter off today as planned, but hopefully it will be worded better now and therefore prove more successful.

Still not sure about the amounts we should be requesting but will have another play around with the figures - can't believe I was once in the top set for maths as I now seem to be c**p

If anyone else can offer any advice it would be most appreciated!

Regards,

Landy X

Many thanks again

Landy x

Found this little beauty under the limitation act 1980.

32.--

• (1) .... where in the case of any action for which a period of limitation is prescribed by this Act, either-
  • (a) the action is based upon the fraud of the defendant; or
  • (b) any fact relevant to the plaintiff's right of action has been deliberately concealed from him by the defendant; or
  • (c) the action is for relief from the consequences of a mistake;
• the period of limitation shall not begin to run until the plaintiff has discovered the fraud, concealment or mistake (as the case may be) or could with reasonable diligence have discovered it. ....
• (2) For the purposes of subsection (1) above, deliberate commission of a breach of duty in circumstances in which it is unlikely to be discovered for some time amounts to deliberate concealment of the facts involved in that breach of duty. . . . (5) Sections 14A and 14B of this Act shall not apply to any action to which subsection (1)(b) above applies (and accordingly the period of limitation referred to in that sub-section, in any case to which either of those sections would otherwise apply, is the period applicable under section 2 of this Act).

So it basically says time limitation does not start until the mistake has been found.

So if you have only just found the error which i think due to the publicity we all have the limitation does not start until we have found it.

Limitation act 1980 below

Limitation Act 1980 (-), swarb.co.uk

Regards

PF

Hi aa and PF,

Thank you both for the info and good advice as always - I need to do a bit more digging in the good old SAR stuff and check that there's nothing else there relating to these old loans.

At the moment I'm not sure if they were refinancing loans like yours aa - need to double check dates etc - it's interesting to know that yours went back 12 years. (We have now amended our bank charges reclaim to include charges from 1999 which is when our statements go back to - there's not many from then, but every little helps!).

PF - how far back do your Co-op loans go and do you have all the agreements/paperwork for them? Did you receive that email re:MBNA card-carriers I sent you a while back by the way?

Thanks again,

Landy x

My Co-op claim goes back to 07/1999 and as alan says mine are refinanced into another so i should be ok.

Yes i do have every agreement for the Co-op.

Thank You Landy for the card carriers yes i did get them ok

Regards

PF

Originally Posted by pompeyfaith

My Co-op claim goes back to 07/1999 and as alan says mine are refinanced into another so i should be ok.

Yes i do have every agreement for the Co-op.

Thank You Landy for the card carriers yes i did get them ok

Regards

PF

You're very welcome PF

Let me know if there's anything else I can do - it's the least I can do after you've helped me so much!

Regards,

Landy x

Hi everyone!

Over the weekend while having a delve through some old paperwork in the loft OH came across the agreements for another two of our old settled Lloyds loans

I haven't had a proper chance to study them yet, but they definitely both had PPI. At least I now have the APR and can work out the figures properly!

There were also some documents relating to a Direct Line loan which also had PPI, so I'm going to be a busy bunny over the next few days trying to put the pieces together.....

Regards,

Landy x

Hi aa,

It is indeed Direct Line Financial Services - it's another pretty old one I think, although I can't find a date on the actual agreement. I guess I'm just going to have to go back through the mountains of bank statements and look for the repayments to see when it started/ended

Will have a read of the link you gave and another scan through your thread.

Thanks again,

Landy x

Thank you aa

This has now been added of my list of items 'to do' over the next few days - along with PPI on a settled Sainsbury's loan OH paid off a couple of years ago, charges on an old Sainsbury's card and PPI/charges on an old M&S card......the list keeps on growing and the amount we are reclaiming in total is now a staggering £55,000+, lol!

Regards,

Landy x

Originally Posted by alanalana

I hope this is of use

aa

I'm sure it will be aa! Thanks again

I just can't believe that all this time we were owed over £55,000 in charges and mis-sold PPI and until I discovered CAG we had just been burying our heads in the sand. I've already had one success with charges from MBNA which is amazing and has boosted my confidence enormously!

I'm sure there's no way we'll get it all back and we do still have outstanding balances we need to pay off, but if we just get some of it back, it will have all been so worthwhile after the terrible time OH went through in 2007.

Regards,

Landy x

Hi everyone,

Just updating this thread - would you believe it - Lloyds have sent back paperwork we sent relating to PPI on old loans saying they don't recognise the account numbers............which we got from the statements etc they sent in our SARs

I'm just about reaching the end of my tether with Lloyds and think it's time to step things up a bit!

Regards,

Landy x

Just to add -

we have the CCAs for both the old loans in question - these were found in our loft recently. However, neither of the CCAs have loan agreement/loan account numbers on them anywhere with which to identify them, but the paperwork we received back in our SARs included old loan statements relating to several settled loans and by a process of elimination I worked out which statements related to which CCA.

The only discrepancy I can see is that on some of the paperwork the loan accounts have a '0' at the start and in some they do not. I put the '0' in the letter I sent, so maybe should have left it out. In fact in the letter Lloyds sent accompanying OH's SAR, they refer to these loan accounts with a '0' at the start of the number. So this does seem rather like another of Lloyds famous delaying tactics to me!

As an aside, having just had another look at the copies I have of the two CCAs for these loans (these are the original copies given to OH when he took out the loans some years back), there is no signature box for either debtor or creditor and therefore no signatures appear on the agreements - is this correct?

Regards,

Landy x