Hi Carp, I have had a simalar problem with Lloyds where they refused to refund me cash for my PPI. In the end we accepted payment off the loan. I will tell you one thing, they are very very stubborn(sp?). Take a quick look at mythread.

OK, Lloyds really didnt budge on this matter, even after their final letter I sent them a further letter telling them I was going to take the complaint to the FOS or even court. They still didnt budge. I printed out a complaint to the FOS but didnt get around to sending it for a few weeks. In that time we decided that if the money was paid off the loan it may not be a bad thing as it would reduce our loan which is over £300 p/m. The money was taken off the loan yesterday. We were not sure excactly how much would come off the loan because the offer was £2143.44 plus interest adjustment. They did not state what the intrest adjustment would be but a total of £3672.15 has been taken off the loan. It would have been nice to have the cash but we are also rerally happy that this amount has been taken off our loan. Thanks to HHNF for your help on this, sorry we did not get any cash but like I said this pays a massive amount off our oustanding balance.

Right, hopefully I have posted this in the right place. All the figures are rough but are quite close. I do have the excact figures just not to hand. We took a secured loan/second mortgage with these people back in July06. The loan was for £27k. Our circumstances changed in June 07 and we sold our house and paid off the loan. The settlement figure we were given was £35.5k. We were paying around £300 per month of the loan. The settlement was broken down approx. £27k loan, £7420 Insurance, £1600 redemption fee. We were refunded 50% of the insurance a couple of weeks after we settled the account. We did not make a claim for it this is what they told us we would get back. What I want to know is can we claim for the rest of the insurance as we never used it, we payed the loan for 10 months and the policy was for 10 years, we never used 10% of the insurance let alone 50%. Also can we reclaim the redemption fee or any part of it. Thanks in advance for any help. Matt.

BUMP Anyone know?????

Received a reply from lloyds today in response to post #9. Can anyone confirm what they are saying. Dear xxxxxxxxxxxxxxxxx Thank you for your letter received with reference to your refund on your personal loan protection payment policy. As the premium for your policy was initially borrowed from the bank, we always credit any refund back to the loan account. I have enclosed a copy of your credit agreement that confirms this, highlighting the relevant sections. To confirm to accept my offer you will need to return the acceptance slip enclosed with my letter dated 11th Feb 2008. I enclose a further acceptance slip for your convenience. Without this slip I am unable to offer a fair and reasonable resolution to your concerns. I will close my file if I do not hear from you within the next 7 days. It will, nevertheless, be reopened if the information is subsequently received. Yours sincerely, xxxxxxxxxxxxx. The money was taken from my current account surely I should be able to have it refunded there.??? They enclosed a copy of the credit agreement with the amount highlighted what is the use of this?? Is it off to the FOS now or do they have the right to refund it to the loan account????

Hi, I am having simalar problems with lloyds, They have said they will pay my refund off the loan. My refund is just over £2100 which would be nice in my current account. I have refused the offer twice now to have it paid back into the loan account and have asked for reasons why they will ot pay it by cheque. My only concern for you is that if you are paying in back through a DMP I assume you are behind with the payments and I THINK that if you are then they can pay it off the loan. But that is only what I have read from another thread so it may be wrong. Sorry not to be of more help.

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Just a quick update. They have had my letter for 7 days now and they haven't replied. Last time it took them 2 days to say they would only pay it into the loan account. I am sending them another letter tomorrow asking for a cheque within 7 days or to give me reasons why they wont refund by cheque. Just a gentle reminder letter. Hopefully this can get sorted within the week.

Wow, I have just read through your thread and it seems you are having a real battle. While I cannot offer any help, not that you seem to need it, I would like to offer you some support. Best of luck, I hope you manage to get this sorted. Matt.

Thanks for the quick and informitive replies. I'm not 100% how the CCA works, no. I am trying to read up on this and Im beginning to get rough idea. she is not paying interest on these debts and they havent been sent to any colloection agencies. She is worried that if she starts doing this they will pile on the interest/charges if she stops paying, default her(although from what ive read they cant do this if no CCA?) and send her accounts to collection agencies. Once again thanks for the swift replies.

Hi all, I think I have posted this in the correct place. Here is a basic outline to the story/problem. My mother is 65 and her only income is state pension. She currently has debts with Barclaycard, Mastercard and Barclays loan. She has had a Barclaycard for years and years the Mastercard she has had for about 10 years the loan for roughly the same. In October 2000 she ran into major differculties, and turned consumer credit councilling service. They wrote to Barclays and asked if she could pay £2 per month per account until her situation improved. She now pays a total of £50 per month on the accounts. Barclaycard and Mastercard she pays £17.50 p/m on each and £15 on the loan. The credit cards pretty much leave her alone just occasionally writing to her asking for more, she rings them and pays more if she can but they are quite understanding. The loan account is a different story. They ring and badger her for more every 6 months. I know it doesnt sound that often but every 6 months she gets stressed because of the threats they make. They have told her that she owes the money and should pay more and if she doesnt they will start adding interest on the account starting at 1% rising to 8% if she doesnt start making higher payments. Also they have threatned baliffs. Even though I tell her they cant just send them around she still worries. Ive told her next time they ring to get the full name of the caller and any threats they make to put them in writing. Is there anything I can do to help her. Ive read about obtaining CCA's for the credit agreements and that sort of thing. Ive had a good look around but I'm not very clued up on this side of things. Ive had succesful claims on bank charges and credit cards and I am very close to getting a settlement on a missold ppi but CCA's and that sort of thing I dont know too much about. Any help advice will be very much appreciated by myself and my mum. Many thanks, matt.

Hi HHNF, and thanks for the reply, I bit the bullet and sent the above letter in post #9 this morning as we want to get this sorted. Hopefully we should get a reply from them pretty soon as so far they have responed quite quickly. I'm not too sure what the total amount is that they have had from us to be honest, we worked it out at just over £2400 so we are not too much short. If they fail to settle either by direct payment to my account or by cheque I think I am going to take your advice and push for the rest. Thanks for takingthe time to look at my thread and post a reply and stop getting so angry and calm down.

Hi guys, Can anyone tell me if the above letter is ok and im right that they dont have to pay it off the loan but could play it into my current account. I really want to get this posted tomorrow am. any help would be grateful, thanks

I have drafted this letter, could someone please tell me if this is acceptable. Thanks in advance Dear xxxxxxx xxxxxxx or whom this may concern, Thank you once again for your very prompt reply to my letter, it is very much appreciated. I do accept your settlement offer £2,143.44 plus interest accrued as a result of this amount on a ex-gratia basis. I also agree that this will be full and final settlement of my complaint. However I do not agree that this is to be refunded to my loan account. I require that this is refunded to my current Lloyds TSB bank account. The account number is xxxxxxxx and my sort code is xx-xx-xx. I can see no reason whatsoever why the refund can not be made to this account as this was the account that the money was taken from. I can assure you that if the insurance was cancelled back in December 2005 I would not have continued to make overpayments on the loan but would have looked at reducing the monthly repayments. Therefore this money would have never have left my current account. I will also accept a cheque made out to me. If you will not credit my current account, or will not send me a cheque for the settlement would you please be kind enough to state the reasons and any legal reasons, if there are any, why you are unwilling to do this so I can use these as evidence should I need to forward my complaint either to the Financial Ombudsman or even the county court. Yours sincerely, xxxxxxxxx xxxxx.

Hi can anyone tell me if lloyds are right and they can only refund to the loan account. I have wrote a letter saying I do not want it paid off the loan but back to the current account but I dont want to risk losing the money altogether.

I sent the acceptance back to lloyds and crossed out the part which said it had to paid back off the loan. I wrote and explained that I wanted the payment to go back to my current lloyds account as this is where the money was taken from. I received a reply from them today which says they can only make refunds to the loan account if the loan is still open, which it is. Is this right?? surely if they owe me the money it is my choice what account it should be paid into and how I spend it. Can anyone tell me if lloyds are right in what they are saying. Thanks

Right I started this thread nearly 12 months ago but I never got round to doing anything about it until recently. I wrote to lloyds on 16th Jan 08 and requested a complete refund as we were missold the policy, I also included the part that we tried to cancel the policy but we were told that we werent able to cancel. I then searched about for information and found out that the FSA have found these terms are unfair. Lloyds have sent me their final response today, they wont agree that the poilcy was missold but have agreed to refund me since Dec 05 (when we tried to cancel the poilcy). The amount is over £2100 which we are happy with but they have said that this payment if we accept the offer will be paid off the loan. We would prefer the cash was paid into our current account. Can we demand that it is paid into our current account?? and Is it best to accept this offer and the fact they have said they do not beleive we were missold the policy. If we were to get a complete refund it would be from June 04 rather than Dec 05. We are not greedy and would be pleased to get this money back.

terms and conditions

Thanks for the advice zoot, I may ring the DCA tomorrow am, time is not really on my side. I received the letter from the DCA yesterday. They say they want payment in full by the 10th of this month. Do I write to the credit reference agencies to get the correction to put on the record. Thanks for your help, Matt

I have a claim with Abbey which is stayed and the defence states that I broke my contract and the charges were to recover costs

I received a letter today from a debt collection agency saying they have now taken over the debt of my account which is £350. Abbey wrote to me on 27/11/07 to inform this is what they intended to do. I looked into this and replied by letter on 03/01/08 that as I have an ongoing claim which is currently stayed due to the test case. The amount I am claiming is nearly £4k with interest and costs etc. So I informed them that I beleive the £350 to be in dispute, therefore under S13.6 of the banking code they could not regiester the debt as bad with credit reference agencies nor could they pass my debt on to a DCA. They replied about 2 weeks ago saying sorry I am unhappy with the charges but there is an ongoing test case and they inclosed 3 pages of info about the test case??????????????????????????????? I then sent another letter a few days ago inclosing my original letter asking them to read it properly as Im not complaining about charges but the fact they are breaking the banking code. Am I right in my argument, if so where do I stand now they have passed the debt on. Do I complain to the FOS about them breaking the banking code and do I/ can I complain to the FSA about them abusing the waiver that is in place. Any thoughts/help greatly appreciated. Many Thanks, Matt.

Thanks guys, the test case really took the wind out of my sails. I had won my case against lloyds and had a court date v Abbey for nearly £4k then on the day of my case I had a letter saying case stayed ARGHHHHHHH. So this seems like a nice little win without having to go to court and fill in AQ's and file court bundles.

Well I sent my prelim off on Jan 16th and they sent me a standard sorry to hear about your complaint. I thought to myself yesterday I will do my LBA this weekend. I got home today and there was a letter from them offering a settlement on the fees that they have taken above £12. this worked out at £417. I have deceided to accept this offer as my credit card balance is £404. So it will be nice to wipe off my balance and get rid of a debt. I know some people will say I should go for the lot but I am happy to get rid of my card after just having to send 1 letter.

My thoughts excactly. I was due in court with Abbey and received a stay on the day I was due in court, I still have Abbey's defence which states the charge is to recoup losses not a service fee. I beleive their new defence is that the charge is a service fee.

Same as the order I received. I, like you, have decieded not to argue the stay as the judge has ordered it himself. I know excactly how you feel. Abbey didnt apply for a stay didnt submit any evidence and have got just what they want. I was really hoping that somehow your case went through although after what happened in my case it was always going to be a longshot. Matt