Thread: Lloyds credit card PPI/

Ok this is somthing I am helping a close family member with and in turn need a little help from you guys.

He was made redundant from his job but straight away took a temp agency job on a fixed term contract for 13 weeks. At the end of the contract he went on jobseekers so claimed on his PPI. He was refused claim as he had made himself unemployed by taking a temp job.

A few months after he was diagnosed sick so then tried to claim again for his card, this was refused because he can only claim if he is sick from work but as he is not in work to go on sick no claim was allowed .

Current situation is, he needs to cancel the PPI as it is impossible to claim against and his financial circumstances doesnt allow any funds to pay the min payment on card or the PPI that he is monthly charged. Can anyone help with a letter for him to first cancel the PPI.... ? . .

Secondly, once cancelled does he have a case to claim back the last 5 years of payments as he was promised that if he comes out of work or is sick he would be covered and this is clearly not the case.

thanks in advance.

Originally Posted by ozzywizard

Ok this is somthing I am helping a close family member with and in turn need a little help from you guys.

He was made redundant from his job but straight away took a temp agency job on a fixed term contract for 13 weeks. At the end of the contract he went on jobseekers so claimed on his PPI. He was refused claim as he had made himself unemployed by taking a temp job.

A few months after he was diagnosed sick so then tried to claim again for his card, this was refused because he can only claim if he is sick from work but as he is not in work to go on sick no claim was allowed .

Current situation is, he needs to cancel the PPI as it is impossible to claim against and his financial circumstances doesnt allow any funds to pay the min payment on card or the PPI that he is monthly charged. Can anyone help with a letter for him to first cancel the PPI.... ? . .

Secondly, once cancelled does he have a case to claim back the last 5 years of payments as he was promised that if he comes out of work or is sick he would be covered and this is clearly not the case.

thanks in advance.

Yes write stating the obvious so Lloyds take note.
It will have to be written by your friend but some pointers.

1. I now wish to cancel the PPI attached to the credit card.
2. The PPI was added onto this card but is obviously worthless as two claims have been made against this insurance and both claims have been refused thus proving the product was not fit for purpose when added to the credit card.
3. I will require repayment of all PPI premiums that have been deducted in regard to this credit card and additionally I will require repayment of the contractual interest added on to these premiums and also the 8% statutory interest in each case which is what the Financial Ombudsman Service or a Court would apply.

Now before you start the action, you should ensure all documentation is to hand ie the Consumer Credit Agreement, terms and conditions applicable to the CC etc.

If you do not have these documents you would be advised to obtain them by submitting a Subject access request (Fee is £10 and postal order is good as you can check when it is cashed)

Better to have all the documents first, prepare your case and then take action. Keep copies of all correspondence as the fos will require copies if you have to submit a complaint to them.

Please check out the links in the stickies at the top of the forums for a mountain of useful information to assist you along the way. ;-)

aa

Thanks heaps AA.

How does this sound,


This letter is a formal request to cancel my PPI on the above credit card with immediate affect.
The PPI that was added to this card and has been paid without fail every month, however it is obviously worthless as two claims have been made against this policy and both claims were refused thus proving without reasonable doubt that the product was not fit for purpose when added to the credit card.
Due to the above statement and the proven missell of this policy I will require repayment of all PPI premiums that have been deducted in regard to this credit card and additionally I will require repayment of the contractual interest added on to these premiums and also the 8% statutory interest in each case which is what the Financial Ombudsman Service or a Court would apply.
I expect you to comply fully and properly with this request, within the reasonable time limit of seven days and send me written confirmation the PPI has been cancelled.
Yours faithfully,

Bump

Originally Posted by ozzywizard

Thanks heaps AA.

How does this sound,


This letter is a formal request to cancel my PPI on the above credit card with immediate affect.
The PPI that was added to this card and has been paid without fail every month, however it is obviously worthless as two claims have been made against this policy and both claims were refused thus proving without reasonable doubt that the product was not fit for purpose when added to the credit card.
Due to the above statement and the proven missell of this policy I will require repayment of all PPI premiums that have been deducted in regard to this credit card and additionally I will require repayment of the contractual interest added on to these premiums and also the 8% statutory interest in each case which is what the Financial Ombudsman Service or a Court would apply.
I expect you to comply fully and properly with this request, within the reasonable time limit of seven days and send me written confirmation the PPI has been cancelled.
Yours faithfully,

Letter is fine but you may wish to add that you will expect the recovery of any further premiums deducted from the time of your letter to be repaid.

Also add in "If you fail to comply with this request to cancel with immediate effect, a letter of complaint will be submitted to the Office of Fair Trading informing then of the very serious issue of PPI premiums being paid and the required cover being refused."

aa

That is great, appreciated AA .. I will ammend with your suggestions and post back when or if a response is received.

Originally Posted by ozzywizard

That is great, appreciated AA .. I will ammend with your suggestions and post back when or if a response is received.

Will watch for your response but remember banks are full of pre prepared letters, questionnaires, delays, even in some cases allegedly they actually tell lies to prevent repayment of PPI.

Keep at them until you get a PPI refund. If you have been mis-sold and the fos figures seem to show 90 to 98% of PPI was mis-sold you should chase your money all the way.

aa