Lloyds TSB - Have they set a precedent? **WON**

[alanalana]

andie you are now in legal forum fill yer boots for advice you should get quality help on court action

 

aa

[andie_303]

Thanks AA

 

I hate POC's - the first one I did was MCOL never done a properly formatted on for county court so forgive me if it's all wrong and I look like a total thicko!

[andie_303]

So after all this - we will not get back to you for 4 weeks malarky dead on the 14th day I recieve a letter (from a diiferent department to the one who has been dealing with it) saying that they have upheld my complaint and what to offer me a full refund of premiums paid + due plus interest totaling £1189.05.

 

Yay!!

 

The only thing is it's on the condition this is paid off my loan and not to me - now on the face of it that doesn't bother me too much but I thought I had a choice of paying it to my loan or recieving it paid directly to me

 

Can someone confirm if this is correct or not??

 

Also they say their decision is in line with awarding what the FOS would, but I though FOS added on compensation or costs??

 

Not being greedy or anything just want to know I'm getting a fair deal here.

 

Overall very happy with this though and the polar opposite if Welcome finance who I have had to drag all the way through court - at least this only cost me 2 phonecalls and 3 letters

[andie_303]

Hi sorry to be a pain but any site team member that swings by - as I don't need court anymore can I be picked back up and dropped back in PPI to see if I can get my last couple of questions answered??

 

Thank you v v v much

[citizenB]

If that is where you want to be, andie.. that's where you shall go.

 

 

 

Ok, you are back where you started .

[alanalana]

Musical PPI/legal:D

[alanalana]

So after all this - we will not get back to you for 4 weeks malarky dead on the 14th day I recieve a letter (from a diiferent department to the one who has been dealing with it) saying that they have upheld my complaint and what to offer me a full refund of premiums paid + due plus interest totaling £1189.05.

 

Yay!! (nice one)

 

The only thing is it's on the condition this is paid off my loan and not to me - now on the face of it that doesn't bother me too much but I thought I had a choice of paying it to my loan or recieving it paid directly to me

 

IMO you should have the choice see below info just posted on a similar issue from another thread.

 

Can someone confirm if this is correct or not??

 

Also they say their decision is in line with awarding what the FOS would, but I though FOS added on compensation or costs??

 

Not being greedy or anything just want to know I'm getting a fair deal here.

 

Overall very happy with this though and the polar opposite if Welcome finance who I have had to drag all the way through court - at least this only cost me 2 phonecalls and 3 letters

 

 

I would take the letter as evidence they will repay the mis-sold PPI by a personal cheque. Some banks are insisting that the refund is used to offset any outstanding balance on the loan but you have to remember the loan figure and PPI figure should in fact have been totally separate agreements as PPI and the loan amount although being shown on one Consumer Credit Agreement should require two signatures one for the loan and one for the PPI so any refund on the PPI should no IMO be used to offset a separate agreement.

 

If they try and use the refund to offset the balance of the loan tell them that it is not acceptable insist on a personal cheque on the grounds the PPI and loan were two separate agreements and if they were not then legally they should have been otherwise the CCA would be unenforceable.

 

Once you get a refund by cheque it is up to you to decide if you wish to pay off some of the outstanding loan or have a holiday:grin:

 

Hope this eases your concerns. The fact they have mentioned cheque in writing should mean that is what you will get.

 

This is the thread......Alliance & Leicester PPi Offer To Refund

 

Hope this helps you make a decision to accept loan reduction or cheque.

 

aa

[andie_303]

Thanks AA I think I will do what the post above says - it's a double edged sword for LTSB so I guess it depends where they want to fall.

 

Does anyone know whether I am entitled to ask for compensation as I believe the FOS do offer this and they said they want to make their offer comparable to what the FOS would offer.

 

I know a court would give 8%

[alanalana]

Thanks AA I think I will do what the post above says - it's a double edged sword for LTSB so I guess it depends where they want to fall.

 

Does anyone know whether I am entitled to ask for compensation as I believe the FOS do offer this and they said they want to make their offer comparable to what the FOS would offer.

 

I know a court would give 8%

I asked and it was refused. IMO best left to either the FOS or Court to decide the FOS di

ecided in my favour so I got the 8%. If you go to court and win on the way you should ask for the 8% and the Court as I understand it would award if you win.

 

aa

Edited May 2, 2009 by alanalana
of course spelling it always is

[andie_303]

Some advice needed on the letter below - basically I am not sure whether to take the offer and pay it off against the loan or take the money and take my baby to Disney for his birthday.

 

I want to assess all options and figure out what is the best - does this letter look ok??

 

Any advice gratefully taken.

 

I'm sure there's probably a calculator out there that will tell me what roughly my monthly payments will go down to so if anyone can point me in that direction that may help and I can just writ to them straight away saying yay or nay.

 

Also is the unenforcability due to not being seperate agreements etc contrary to any CCA code that I can put in there to make them think I know what I'm doing when I really have ZERO clue

 

Thanks All

 

 

Dear

 

I write to you in reference to the above account number and the offer of refund of the mis-sold insurances.

 

Your letter says you are willing to offer a refund of premiums totalling £1,184.05 and that interest will be calculated and added onto this figure.

 

I am considering whether to accept this offer in full and final settlement of my complaint however, before doing so I have a query I would like answering.

 

On the acceptance form you have added a condition that this will be paid to my loan account and not to myself.

 

I am sure you are aware that my loan agreement and the PPI portion of this should have been two separate agreements and therefore your company cannot use one to offset the other.

 

If you maintain the agreements are not separated and are linked then this will render the whole agreement including the original loan amount unenforceable.

 

Therefore I ask that an option be made available to myself to consider accepting payment of the refund of £1,184.05 + interest to me via cheque or direct deposit into my Lloyds TSB bank account.

From there I will then decide whether to pay any amount off the balance of my loan outstanding.

 

I would also ask that an approximate calculation be completed showing me if I accepted this offer as a direct payment against my loan the amount of a predicted monthly repayment thereafter.

 

I realise any calculation will be approximate and I will not hold you to such amount being a direct quotation.

 

This will allow me to assess my options further and make an informed decision.

 

 

Yours Faithfully

[alanalana]

I write to you in reference to the above account number and the offer of refund of the mis-sold insurances.

 

Your letter says you are willing to offer a refund of premiums totalling £1,184.05 and that interest will be calculated and added onto this figure.

 

I am considering whether to accept this offer in full and final settlement of my complaint however, before doing so I have a query I would like answering.

 

On the acceptance form you have added a condition that this will be paid to my loan account and not to myself.

 

I am sure you are aware that my loan agreement and the PPI portion of this should have been two separate agreements and therefore your company cannot use one to offset the other.

 

If you maintain the agreements are not separated and are linked then this will render the whole agreement including the original loan amount unenforceable.

 

Therefore I ask that an option be made available to myself to consider accepting payment of the refund of £1,184.05 + interest to me via cheque or direct deposit into my Lloyds TSB bank account.

 

From there I will then decide whether to pay any amount off the balance of my loan outstanding.

 

I would also ask that an approximate calculation be completed showing me if I accepted this offer as a direct payment against my loan the amount of a predicted monthly repayment thereafter.

 

I realise any calculation will be approximate and I will not hold you to such amount being a direct quotation.

 

This will allow me to assess my options further and make an informed decision

.

 

I have made a few changes to your letter I hope you are ok with that please have a look

 

I write to you in reference to the above account number and the offer of refund of the mis-sold insurances.

 

Your letter says you are willing to offer a refund of premiums totalling £1,184.05 and that interest will be calculated and added onto this figure. The interest should include the interest added to the PPI plus the statutory 8% which would be added by the Financial Ombudsman Service or HM small claims Court.

 

I am considering whether to accept this offer in full and final settlement of my complaint however, before doing so I have a query I would like answering.

 

On the acceptance form you have added a condition that this will be paid to my loan account and not to myself.

 

I am sure you are aware that my loan agreement and the PPI portion of this should have been two separate agreements and therefore your company cannot use one to offset the other.

 

If you maintain the agreements are not separated and are linked then this will render the whole agreement including the original loan amount unenforceable.

 

Therefore I ask that an option be made available to myself to consider accepting payment of the refund of £1,184.05 the interest applied to the PPI and the statutory 8% directly to me by personal cheque or direct deposit into my Lloyds TSB bank account.

 

When I am in receipt of this information I will then decide whether to pay any amount off the balance of my loan outstanding.

 

I also request that an explanation of the calculations be produced, showing me if I accepted this offer as a direct payment against my loan the amount what the figure would be for the monthly repayments thereafter.

 

This will allow me to assess my options further and make an informed decision on how to proceed in this matter.

 

I would put the question of calculation to Pompeyfaith he seems to be well up on spreadsheets. If he can help you can then compare the figures.

 

The fact you have received an offer should hopefully sway them to add on the 8% statutory interest if they do not and the FOS upholds your case they would add it on as they have a formula for working out the figures.

 

If the bank do not offer you the 8% and you go to the FOS you will get your 8% and it will cost them £500 for the Ombudsman fee.

 

aa

[andie_303]

OK letter faxed this morning so will shall see what happens.

 

Thanks AA

[andie_303]

Grrrr - this company is now doing my head in - despite me faxing a letter and sending one that they signed for on 6th May - they claim not to have received either.

 

I have spoken with one of their advisors and they have basically said

 

1) can't have compensation as the account is still open and FOS don't offer this on open accounts!!! (i've checked - FOS said this is wrong!)

 

2) has to be paid to my loan account as FSA guidelines say this!!

 

3) ask the loan team to do you a calculation on how much it will be when all paid off the loan however they cannot tell me what interest is to go on top of the £1184.05 so how am I supposed to do this??

 

so......

 

I've drafted this and now have an email address to send to

 

 

Dear Sir

 

I am writing to you with regard to the above account number. I have previously corresponded with your company regarding this matter but despite my letter (copy attached) being signed for on 6th may 2009 I have received no response.

 

Your company has made an offer of full premium plus interest returned and whilst it does not say in your letter that this is paid to my loan account this is stated on the accpetance slip.

 

I'm sure I do not need to bring to the attention of a financial institution the issues surrounding multiple agreements however, for your ease of reference I would point out to you that if you contest that this was a single agreement there by allowing you to pay of one debt with credit from another I believe you are aware this would render the agreement unenforcable including the original loan amount.

 

I question this also as I consider that the LPI premium amount over the last 15 months is a debt duely paid by myself in the fact that I have paid all the monthly premiums asked - and therefore minimally the last 15 months worth of LPI premium plus interest at the loan APR should be paid back to myself and not my loan account.

 

You have also stated in your letter that the offer is in line with what the Financial Ombudsman Service would offer however, I believe they would offer compensation and/or statutory 8% interest. I have spoken with a customer service advisor who tells me this is because the account is open and the FOS only offer compensation on closed cases. I have spoken with the FOS today about this and have been told this is incorrect and they would consider adding compensation and/or statutory interest in every claim made regardless of if the account is currently active or closed.

 

As I have already issued a letter before action to Lloyds TSB regarding this matter I expect a positive response within 7 days from todays date i.e. May 26th 2009.

 

Should this not be recieved I will have no option but to file this matter in the small claims court for which you may be held liable for my costs incurred.

 

I have attached a read receipt to this email and this will be used as prove that this has been received and read by your organisation.

 

Yours Faithfully

 

Thoughts appreciated

[alanalana]

Dear Sir

 

I am writing to you with regard to the above account number. I have previously corresponded with your company regarding this matter but despite my letter (copy attached) being signed for via Royal Mail recorded signed for delivery on 6th may 2009 I have received no response.

 

Your company has made an offer of full premium plus interest refund and whilst it does not say in your letter that this is paid to my loan account this is stated on the acceptance slip.

 

I'm sure I do not need to bring to the attention of a financial institution the issues surrounding multiple agreements however, for your ease of reference I would point out to you that if you contest that this was a single agreement there by allowing you to pay off one debt with credit from another I believe you are aware this would render the agreement unenforceable including the original loan amount.

 

I question this also as I consider that the LPI premium amount over the last 15 months is a debt duly paid by myself in the fact that I have paid all the monthly premiums that were due. Therefore minimally the last 15 months worth of LPI premium plus interest at the loan APR should be paid back to myself by way of a personal cheque and not credited to my loan account.

 

You have also stated in your letter that the offer is in line with what the Financial Ombudsman Service would offer however, I believe they would offer compensation and/or statutory 8% interest. I have spoken with a customer service advisor who tells me this is because the account is open and the FOS only offer compensation on closed cases. I have spoken with the FOS today about this and have been told this is incorrect and they would consider adding compensation and/or statutory interest in every claim upheld regardless as to whether the account is currently active or closed.

 

As I have already issued a letter before action to Lloyds TSB regarding this matter I will now expect a positive response within 7 days from today May 26th 2009.

 

Should this not be received I will have no option but to file this matter in the small claims court. This as I am sure you will appreciate could render you liable for my costs incurred in bringing this action.

 

I have attached a read receipt to this email and this will be used as proof that this has been received and read by your organisation.

 

Yours Faithfully

Duly tweaked for the odd spelling see what you think Andie;)

aa

 

Lloyds TSB one of the more awkward institutes.

[andie_303]

Thanks AA - will see but something tells me they are going to say no.

 

I think I am being more than fair in just saying the last 15 months I have paid should be paid back to me - the rest can be paid off the loan - I don't think that is out of order!

[alanalana]

Thanks AA - will see but something tells me they are going to say no.

 

I think I am being more than fair in just saying the last 15 months I have paid should be paid back to me - the rest can be paid off the loan - I don't think that is out of order!

 

I would have asked for the lot back and then made a decision to pay some back or have a holiday but of course every individual case on PPI is different and it is sometimes difficult to make a call not knowing individual circumstances and needs but really it is your shout.

The aim is to get you to reclaim the right to money that has been taken by the banks being misleading or vague when they add PPI onto loans, cards, cars or mortgages and probably a lot more.

 

aa

[andie_303]

I initially asked for it all back but know they are going to argue the toss about there still being an outstanding debt - therefore I thought if I do have to take this further I should be looking like I am being reasonable.

 

So therefore 15 months that I have already paid back would to me seem that the debt for those 15 months worth of premiums has been duely paid and therefore I am entitled to ask for the money I have already paid to them back.

 

Future payments can then be credited to the loan.

 

I think that is more than reasonable and would hope a court would agree.

[citizenB]

2) has to be paid to my loan account as FSA guidelines say this!!

 

 

Is this a fact ? Have you checked with the FSA ?

[andie_303]

I tried calling the FSA but got someone that didn't really know - I can't find anything on their website about it though

[citizenB]

I tried calling the FSA but got someone that didn't really know - I can't find anything on their website about it though

 

Might be worth another call and ask if you can be put through to someone who might know If you tell the FSA that you just wish to confirm a statement made by a company before making a Formal Complaint.. might do the trick.

[andie_303]

GRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRRR

 

These are starting to drive me insane - despite writing (signed for delivery) faxing (transmission report) and email (delivery AND read receipt) they claim they have not recieved any of these!!!

 

Each time I call them to see if they have got my written commnication they keep trying to engage me in a conversation about the issues.

 

And when I do speak to someone I get the worst call centre monkey you could think of - I even got one yesterday that said small claims court won't deal with your complaint about mis-sold insurance they will make you go to FOS??? IDIOTS!!!

 

He then practically tried to bully me into saying I rejected the offer. He kept saying this call is being recorded so just say you are rejecting the offer.

 

I've written one last letter and they've got 7 days and then the Lloyds TSB telephone monkey will learn for real whether the Small Claims court will deal with me or not

[citizenB]

It is hard to believe that knowing you have proof of receipt in all instances, they are still denying having received stuff. Ah well, as you say, if this goes to the courts then they will look like total pillocks.

[andie_303]

Yep - hey who knows perhaps they will claim not to have recieved court papers as well and I can get a judgement in default

[citizenB]

Yep - hey who knows perhaps they will claim not to have recieved court papers as well and I can get a judgement in default

 

Now that would be justice

[andie_303]

Ok so despite confirming they finally recieved my email on 27th May and being told by a manager that someone would write to me in "the next few days" to respond I have heard NOTHING and when I called them today they now claim again to have not recieved my email!!

 

I'm really started to think my old friend N1 may hurry them up a little!!