Lloyds tsb loan PPI

[Belville]

Hi All

I am now starting on my mothers reclaiming and most will be for PPI.

 

Here's Account History;

 

My mother took out a new loan sizeable with LLoyds TSB in 2003 at the age of 69.

 

This loan was a new loan that paid of an existing loan leaving the residue for other things.she was sold a single premium PPI policy with this new loan.

 

My mother had claimed on the previous insurance policy after a heart attack in 2001 so the bank were fully aware of her medical history not to mention her age.

 

She defaulted on the account in late 2004 and started repayments through CCCS.

 

At the time lloyds Tsb were asked to suspend interest on this account but they didn't.

 

They are still adding interest and the CCCS payments do not even cover this.

 

My Question is

 

Can she reclaim the PPI?

 

Any Advise would be welcomed

[Sparklez30]

Of course she can start a claim for PPI and also it may be worth persuing charges on this account too. Starting with a SAR request is probably a good idea

[Weeble70]

Yes....do it! And stick with it...

 

I don't mean to be intrusive or presume anything, but is your Mother still working at 69? If not, I would have thought this and the medical history are grounds alone for mis-selling the PPI. Especially the dreadful lump sum type. LTSB are pretty shameless how they treat older people. They let my friends 73yo Aunt have 2 credit cards, she was on basic state pension, poorly, and got in a right mess. You could investigate whether the bank has acted in your Mother's best interests at all, by lending in the first place i.e. "irresponsible lending".

 

I have battled since 2005 and finally got 3 PPI policies refunded from LTSB. I very nearly gave up several times. When I first tried to cancel when our accounts were on track I was told no, you can't cancel...its a non cancellable policy. Then later when things went wrong and we fell behind, I wrote a letter of complaint in desperation (long before I discovered this site or MSE). I got completely ignored. I had phoned and was given the run around. "try this department/this office/another call centre etc.

 

I researched the Banking Code, and phoned them. The very kind lady told me they had broken the rules, and to contact the Ombudsman service. The ombudsman got involved, and they upheld my complaint on other issues but not the PPI as I had signed and it said optional...

As the compensation was a very significant figure I accepted it. A couple of years on, I still brooded on this damned PPI, and by then I had discovered the consumer sites. I eventually got fired up enough to write a letter, a template from MSE, to LTSB. They wrote back, quoting the Consumer Credit Act, "you signed blah blah" and rejecting my complaint. Not in the mood for giving up I wrote back again, this time in my own words, a strongly worded letter (though not abusive). I had nothing to lose. I sent all these recorded of course. To my surprise and delight, they wrote back, offering "goodwill" full refunds, and interest on top. The interest is a substantial amount too...

 

I'm sorry if I have gone on, but I thought it might help to let you know you can win....

 

When you win, they will refund the money direct to the loan account....happy days!

 

Good luck!

[Belville]

thankyou sparklez30 for your reply

thankyou weeble70 its nice to know that someone has beeten the money grabbers at LTSB

i may well be contacting you for advise on my letters to them if thats ok

[Weeble70]

Hi Belville,

 

Feel free to contact me, though I'm no expert by any means but I 'll do my best!

[Sparklez30]

Hopefully this will help start you off Belville

 

You need to identify the reasons you feel you were mis-sold (e.g you were self employed, you already had a medical condition, you were unemployed, they insisted you had to take it out etc etc) see this thread for a list of reasons

 

http://www.consumeractiongroup.co.uk/forum/payment-protection-insurance-ppi/61081-ppi-some-notes-claimants.html

 

You will also need to have all of the information to start with so if you don't already have all the statments, settlement breakdown and contracts etc then send the following SAR with a postal order for £10 to make the request (they must provide this information within 40 days) Also make sure you send the letter recorded delivery and keep the proof they received it.

 

http://www.consumeractiongroup.co.uk/forum/payment-protection-insurance-ppi/118145-r-subject-access-request.html

 

Once you have all the info you can then send off the mis-selling letter template, these letters can be found in the first post of this thread (scroll down the post til you found the heading "Template Letter 1"

 

http://www.consumeractiongroup.co.uk/forum/payment-protection-insurance-ppi/61081-ppi-some-notes-claimants.html

 

I would also suggest you have a read around the PPI forum particularly in the stickies at the top as there is alot of helpful information to assist you along the way and keep us updated