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Just a quick question - has anyone had any experience reclaiming early repayment charges from lloydstsb loans (or indeed, elsewhere?)
I had a small loan with Lloyds a couple of years ago and ended up paying it off well before the term was up as I came into an unexpected bit of cash - have vague memory of being walloped with a charge for doing so & am now wondering if it's worth digging it up again?
It wasn't a *huge* amount, but far better in my pocket than in theirs...;O)
No personal experience Lucycat, but if you search 'early redemption' or 'early repayment' you'll come up with a good few threads on the subject.
You could also look here http://www.consumeractiongroup.co.uk...age-companies/
which admittedly is not loans, but there should be plenty of relevant info.
Thanks for the suggestions Elsinore (and nice to virtually meet you, as I've seen your name around the site!) :O)
I spent last night rather fruitlessly trying to get to grips with the search options but seem to be getting lots of irrelevant results returned (or absolutely nothing at all), even on an advanced.
I'm not exactly sure where I'm going wrong - I'm reasonably internet savvy, but am drawing a blank - do you perhaps know if there are there search indicators I can use (brackets, plus signs, quotation marks, etc.) to return more specific results?
I'll go and have a good read through the thread you mentioned & fire off a S.A.R. this morning anyway - nothing ventured, nothing gained, eh? ;O)
Bit of a change of tack, as when statement landed it turned out that while I wasn't charged an ERC, I did get clobbered with a front-loaded PPI policy that I didn't ask for (dim and distant memory only supplied that when I'd rung to cancel the amount due was more than the original loan amount, hence thinking there was an ERC in force!)
Here's the full (and mercifully short) story so far...
I took out a personal loan with Lloyds on 31st Aug 2000 due to end on 1st April 2005 for £1500 at 19.8% APR (I know, I know - April Fool in more ways than one!)
PPI was included, although to the best of my knowledge I did not agree to this, and indeed was out of work from Nov 2000 onwards. There is no given figure for the PPI, but using the initial opening balance on the statement it seems to have been charged at £347.88.
A small windfall in July 2001 meant I was able to pay off the loan in full less than a year into the term, but when I rang to settle the amount outstanding was still £1619.36.
Total amount paid on the loan was £2117.56
I know it's not much, but I'm keen to claw it back if I can!
Just deciding which direction to head in now - thanks for reading this far, all opinions gratefully received!
Have you got any further in the last couple of weeks?
I have just been looking at my loan statements with EXACTLY the same problem. I'll be starting a new thread later tonight "Koko vs lloydstsb Loans" if you want a "buddy" on a similar time line. Mine is a lot more complicated then yours (1 loan starting in 1997 then refinanced 4 times over the intervening years) and I'm going to have to start by requesting the original agreements and terms and conditions under the consumer credit act as I no longer appear to have these (probably in the attic with the wasps nest - not going there will wait my twelve days). I'd like to see where it says that the PPI is front loaded onto the loan for a start and also whether they have complied with the FSA guidelines for selling PPI that I found. Should be an interesting journey.
Koko
Lloyds TSB Current Account/Joint Account/Business Account (ST not Ltd) PL 30/8/06; lba 14/9/06; N1 filed 24/10/06
M&SFS Credit Card SAR16/9/06; partial data rec'd; 11/10 written; in correspondence
Lloyds TSB Credit Card SAR16/9/06; partial data rec'd 14/10; written 30/10/06 ext'd timelimit;
Student Loans Company Ltd SAR2/10/06 silence!!!
Lloyds TSB PPI on Loans CCA & SARsent 21/10/06
Partner:
Lloyds TSB Current Account SAR3/10/06 silence !!!
Credit Cards:
Lloyds TSB SAR3/10/06; rec'd 26/10 back burner for now
Marbles SAR3/10/06; rec'd 26/10 back burner for now
Monument SAR3/10/06
Virgin SAR3/10/06
Morgan Stanley SAR3/10/06; partial data rec'd; 19/10 CCA req; 24/6/06 rec'd; in correspondence
Barclaycard SAR3/10/06; data rec'd; 14/10 written with CCA request; 24/6/06 rec'd; in correspondence
No further as of yet, am firing off letters left right and centre at the moment (as you can see below!)
I hadn't got *any* of the original paperwork anymore, so I sent off the S.A.R. & got some photocopies back in a brown envelope (stamped 'PRIVATE & CONFIDENTIAL', sent in my former married name and to my old address, which is probably worth a whole new raft of letters in itself!)
Will do some more reading over the weekend & try and get something ready to roll on Monday - will bookmark your thread when it appears, and please feel free to PM me.
Lloyds TSB -PPI - Full refund . 05/09/06 (As Seen on TV)
Halifax settled in Full.. 22/09/06
TSB First Claim SETTLED IN FULL 19/10/06
Second Claim to Lloyds TSB - Settled in Full
Firstplus - early settlement interest charges - Challenged the use of the rule of 78 - SETTLED IN FULL 12/1/07
PPI - GE Money / Purpleloans / Firstplus - Now Settled after 1 year long hard fight.
If my post has helped you, please click the scales! :grin:
Anything said is my opinion and how I understand the law, always consult professional legal advice before taking something to court.
Lloyds TSB Current Account/Joint Account/Business Account (ST not Ltd) PL 30/8/06; lba 14/9/06; N1 filed 24/10/06
M&SFS Credit Card SAR16/9/06; partial data rec'd; 11/10 written; in correspondence
Lloyds TSB Credit Card SAR16/9/06; partial data rec'd 14/10; written 30/10/06 ext'd timelimit;
Student Loans Company Ltd SAR2/10/06 silence!!!
Lloyds TSB PPI on Loans CCA & SARsent 21/10/06
Partner:
Lloyds TSB Current Account SAR3/10/06 silence !!!
Credit Cards:
Lloyds TSB SAR3/10/06; rec'd 26/10 back burner for now
Marbles SAR3/10/06; rec'd 26/10 back burner for now
Monument SAR3/10/06
Virgin SAR3/10/06
Morgan Stanley SAR3/10/06; partial data rec'd; 19/10 CCA req; 24/6/06 rec'd; in correspondence
Barclaycard SAR3/10/06; data rec'd; 14/10 written with CCA request; 24/6/06 rec'd; in correspondence
Lucycat V Lloyds Tsb Loan PPI
loans (or indeed, elsewhere?)
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Re: ERC for Lloyds Loan - any experiences?
Re: ERC for Lloyds Loan - any experiences?
(As Seen on TV) 