Written by John Kruse, one of the leading experts on Bailiff Law, this consumer friendly guide is essential reading for anyone who comes into contact with a bailiff.
The book is easy to understand and clearly explains the rights
a bailiff has, and also what they cannot do when collecting debts and repossessing goods etc.
Lloyds PPI offer - they want me to use money to pay off loan!!!
Long story short, I have a dmp with Payplan who are managing my debts. One is with Lloyds for a £29k loan which includes £7k worth of PPI. I challenged them on missold which they disputed (I cannot categorically prove them otherwise unfortunately so I won't go into it). They have basically offered to refund half but are insisting that if I accept it, it will be used to pay off some of the arrears on my loan - is this allowed?!
Re: Lloyds PPI offer - they want me to use money to pay off loan!!!
Originally Posted by moneyworries
Long story short, I have a dmp with Payplan who are managing my debts. One is with Lloyds for a £29k loan which includes £7k worth of PPI. I challenged them on missold which they disputed (I cannot categorically prove them otherwise unfortunately so I won't go into it). They have basically offered to refund half but are insisting that if I accept it, it will be used to pay off some of the arrears on my loan - is this allowed?!
I believe they can use any recredited PPI to pay off arrears on a loan. However you could put up a fight and say if the PPI had not been added - mis-sold then you may have been able to keep up the payments on the loan. You can also argue that a loan amount and a PPI amount are two separate contracts and therefore they should not use the PPI refund to pay off any outstanding amount on the loan.
You should also use the fact that you have been prepared to try and resolve the issues through a dmp
Have a look at these forums for more information..
I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner. ------------------------------------------------
Bank charge successes:
Halifax - Full settlement incl interest.
HSBC - Settlement, goodwill no admission of liability about 75% of claim.
RBS - Settlement, goodwill no admission of liability about 70% of claim.
2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did
PPI Successes
PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.
2 claims settled in full with LV without FOS involvement.
2 claims settled in full with HSBC without FOS involvement
PPI Claims ongoing with:
Cap one Now with the FOS
Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.
LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc
Please do not PM me for advice as it may be sometime before I can respond.
Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.
Lloyds PPI offer - they want me to use money to pay off loan!!!
with Payplan who are managing my debts. One is with Lloyds
Reply With Quote
Re: Lloyds PPI offer - they want me to use money to pay off loan!!!
Originally Posted by moneyworries
