Hi. Long time since I last posted on CAG. I am hoping someone can help me guide my Brother. He had a loan for £1000 way back in 1991. PPI single premium was added making his total loan £1,112. He still had his original loan agreement which made it very easy to fill in his claim form for missold ppi.
He originally had gone to his bank to take out a pension plan with scottish widows (still running) whilst there he was encouraged to take out a loan also. That was his first and last loan!
On to the misselling of ppi, when he called back into the bank to sign the paperwork for the loan, the form had been prefilled. He hadnt been given a choice on taking out the ppi. he states that when he questioned the figures prior to signing it was only then he was told it was required for the loan.
lloyds letter just consisted of a breakdown of his ppi figures and conclude that he is entitled to a refund of £6.33 including interest.
Im a little bemused and wondered if I should be doing a spreadsheet to include 8% interest?
Any help would be greatly appreciated
Thanks in advance
P.S The offer letter arrived Thursday and the cheque arrived this morning. Quick service.....