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Anyone know if the same principles apply to Business Loan Repayment Insurance? I have a BLRI premiun of £4401.98 plus interest £2610.82 added to the original loan on the 27th Feb 2005. I am self employed sole traded.

My advice has hardly any legal foundation whatsoever, however you never know it it might just work!

:cool:

 

NatWest Prelim 07.10.206

LBA 21.10.2006

MCOL 30.10.2006

Acknowledgment of Service 06.11.2006

Offer of approx 50% £2200.00 22.11.2006

Full settlement £4500 received 03.01.2007

Smile settled in full

Barclaycard settled in full

RBS Worldwide settled in full

Lloyds TSB settled in full £750.00

Lloyds TSB settled in Full £275.00 11.04.2007

Lloyds TSB business account £1376.00 AQ filed

Lloyds TSB Business account settled in full 21.05.07

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Anyone know if the same principles apply to Business Loan Repayment Insurance? I have a BLRI premiun of £4401.98 plus interest £2610.82 added to the original loan on the 27th Feb 2005. I am self employed sole traded.

 

Hello ataction.

 

I am not to sure regarding blri, but I would feel that it should follow the same principle for mis-selling. It should be appropriate to your requirement and should pay out if needed. Otherwise you are sold a policy that you cannot use and they make lots of money on.

If any of my posts are helpful, please feel free to click my scales. All information is given as my opinion only, based on my own personal experiences. I have no legal training, but have educated myself in aspects of consumer legislation. My motto "NEVER GIVE IN, NEVER SURRENDER", THERE IS A WAR ON YOU KNOW

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I am pursuing a claim so will keep ypu posted

My advice has hardly any legal foundation whatsoever, however you never know it it might just work!

:cool:

 

NatWest Prelim 07.10.206

LBA 21.10.2006

MCOL 30.10.2006

Acknowledgment of Service 06.11.2006

Offer of approx 50% £2200.00 22.11.2006

Full settlement £4500 received 03.01.2007

Smile settled in full

Barclaycard settled in full

RBS Worldwide settled in full

Lloyds TSB settled in full £750.00

Lloyds TSB settled in Full £275.00 11.04.2007

Lloyds TSB business account £1376.00 AQ filed

Lloyds TSB Business account settled in full 21.05.07

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  • 1 month later...

Well I started this claim without the same enthusiasm I had for reclaiming my bank charges. The pursuit of the refund of bank charges was a mission, but eventually I was successful in all claims. The BLRI case seemed a little more complex, however I have today received an offer of a full repayment of the premium plus interest accrued. They are going to credit my loan account with the amount. The only query I have is regarding the interest accrued. Should I just agree and let them calculate the interest or should I seek confirmation of the amount.

My advice has hardly any legal foundation whatsoever, however you never know it it might just work!

:cool:

 

NatWest Prelim 07.10.206

LBA 21.10.2006

MCOL 30.10.2006

Acknowledgment of Service 06.11.2006

Offer of approx 50% £2200.00 22.11.2006

Full settlement £4500 received 03.01.2007

Smile settled in full

Barclaycard settled in full

RBS Worldwide settled in full

Lloyds TSB settled in full £750.00

Lloyds TSB settled in Full £275.00 11.04.2007

Lloyds TSB business account £1376.00 AQ filed

Lloyds TSB Business account settled in full 21.05.07

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Well done on your seccess.

 

I would personnaly not trust them to calculate the amount.

 

you can use the standard bank charge spread sheet to calculate the figure for you. simply enter the amount of the PPI when the loan started in the charges field in the sheet, and the date it started then change the interest rate to the APR you were charged and it will calculate the amount + Contractual for you.

If I have helped click my scales....

 

Find my threads by clicking here

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Well I started this claim without the same enthusiasm I had for reclaiming my bank charges. The pursuit of the refund of bank charges was a mission, but eventually I was successful in all claims. The BLRI case seemed a little more complex, however I have today received an offer of a full repayment of the premium plus interest accrued. They are going to credit my loan account with the amount. The only query I have is regarding the interest accrued. Should I just agree and let them calculate the interest or should I seek confirmation of the amount.
Hello Ataction,

 

I was so happy to hear your excellent news, just shows to keep at them. Now as for the refund, that is your choice as to what figure to settle on.

 

I would be like minded as them, I would want the contractual orstatutory interest from the date it was taken, and if you don't ask, well they are not going to give it freely. Ask them for a breakdown of the calculations before you accept the offer.:D

 

Well done and have a very merry xmas:D

If any of my posts are helpful, please feel free to click my scales. All information is given as my opinion only, based on my own personal experiences. I have no legal training, but have educated myself in aspects of consumer legislation. My motto "NEVER GIVE IN, NEVER SURRENDER", THERE IS A WAR ON YOU KNOW

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Thanks for the advice. I am accepting the 7K settlement and moving on.

 

This one is done and dusted.

 

I have some useful tactical information for potential claimants, particularly for business accounts and the self employed. I will post with this information in due course.

My advice has hardly any legal foundation whatsoever, however you never know it it might just work!

:cool:

 

NatWest Prelim 07.10.206

LBA 21.10.2006

MCOL 30.10.2006

Acknowledgment of Service 06.11.2006

Offer of approx 50% £2200.00 22.11.2006

Full settlement £4500 received 03.01.2007

Smile settled in full

Barclaycard settled in full

RBS Worldwide settled in full

Lloyds TSB settled in full £750.00

Lloyds TSB settled in Full £275.00 11.04.2007

Lloyds TSB business account £1376.00 AQ filed

Lloyds TSB Business account settled in full 21.05.07

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Thanks for the advice. I am accepting the 7K settlement and moving on.

 

This one is done and dusted.

 

I have some useful tactical information for potential claimants, particularly for business accounts and the self employed. I will post with this information in due course.

 

Again well done on your great success. It would be great to see new information if you could post up

If any of my posts are helpful, please feel free to click my scales. All information is given as my opinion only, based on my own personal experiences. I have no legal training, but have educated myself in aspects of consumer legislation. My motto "NEVER GIVE IN, NEVER SURRENDER", THERE IS A WAR ON YOU KNOW

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Thanks for the advice. I am accepting the 7K settlement and moving on.

 

This one is done and dusted.

 

I have some useful tactical information for potential claimants, particularly for business accounts and the self employed. I will post with this information in due course.

 

Congratulations. Im really pleased for you.

I really look forward to the posting of information regarding Business accounts, and self employment..

Thank you.

I Wish you everything you wish yourself.

 

NatWest Claimed £1,639. Accepted £1,344.

Natwest Paid me again as GOGW £1,656. Yes they can have it back if they say please.

Barclays 1 Claimed £1,260. Won by default. Paid in full

Barclays 2 Claimed £2,378. Won by default. Paid in full

Birmingham Midshires. Claimed £2,122. Accepted £2,075.

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  • 3 years later...

I am about to embark upon a BLRI claim against Lloyds TSB for a missold policy just as you did 'ataction'. It seems that you were very successful very quickly. What routes did you use to resolve this? Formal complaint, then ombudsman or jst straight to legal?

 

Any help would be appreciated on this one.

 

J

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