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Problem is they want to pay this into loan account to reduce outstanding debt.
Where do I stand with this - I could really use the money as single parent of two in part time work and this could be use to help pay off other Pauls while I borrow from Peter if you understand.
My loan with Lloyds is not in arrears and my claim for PPI was they mis-sold the policy to me as I already had other cover.
I would write to them and insist they pay you by cheque or you will continue with court action.
I read a thread the other day where someone was paid by cheque, and they were surprised as they had another account in arrears and thought the Bank would put the money into that account.
I 'Name', accept the offer made by Lloyds TSB Insurance of a refund of my loan insurance premium of £1116.03 in Full and final settlement of my complaint.
If they are refunding my PPI then surely its not a gesture of goodwill. Does this help my case that they wording in the offer states REFUND
Looking for some advice here. I have read through vast amounts of the forums but none really answer my problem.
Lloyds have today issued me a gesture of goodwill payment of £1100.
Problem is they want to pay this into loan account to reduce outstanding debt.
Where do I stand with this - I could really use the money as single parent of two in part time work and this could be use to help pay off other Pauls while I borrow from Peter if you understand.
My loan with Lloyds is not in arrears and my claim for PPI was they mis-sold the policy to me as I already had other cover.
I have 14 days as off today re - this offer.
Any help appreciated.
You are entitled to be paid by a personal cheque in your name. However if your account with LTSB is in arrears then they can as I understand it use any refund of PPI to offset the amount.
ie if your account was in arrears to the tune of £700 then they can use £700 of the refund to make up the deficit and the balance should be paid to you. They cannot use any refund for mis-sold PPI to reduce the amount owed on the account if you are up to date with your payments and they should not use any rebate to reduce the amount owed if you are up to date with your payments.
I was offered goodwill gesture from RBS and I turned it down as there was no 8% statutory interest includede they refused to include this and so I went to the fos the goodwill gesture turned from £2.6k into £3.8k.
So from my experience if the offer of a goodwill gesture has been made and you are not happy with it. say no and let the fOS decide. No one makes a goodwill gesture out of the goodness of their heart
The goodwill gesture is to prevent a larger loss of money or to prevent the regulatory bodies taking stronger action.
Your choice now
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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.
Help Req. Lloyds Gd Gesture offer
have today issued me a gesture of goodwill payment
of £1100.
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