Lloyds settled loan PPI reclaim - advice please! ***WON***

[landy_alert]

Hi everyone:)

 

Just a further update -

 

In response to the email received from the FOS which incorrectly stated the refunds on offer from LTSB for these two old loans I responded by detailing what I believed the refunds should be and showing how I had reached these figures - If I can do it, how come LTSB can't? - whilst explaining that LTSB had already made errors in the amounts of rebates they say we have received when the loans were settled early.

 

Landy x

Edited March 6, 2010 by landy_alert
Removed info referring to different complaint!

[landy_alert]

Hi everyone:)

 

I have just been going through my threads with a view to updating them when I discovered that I have been getting two of my LTSB PPI threads confused - all the recent posts on this thread actually belong to my other LTSB thread

 

To clarify this thread relates to two old loans in Mr L's name and the other thread to two old loans in our joint names - they are both with the FOS and at similar stages, so its easy to see how the confusion arose.

 

Anyway, it would be too complicated to try to edit the threads to correct my mistakes so an update on this thread is as follows -

 

LTSB eventually confirmed that the refund details for both loan PPIs were correct as far as they were concerned.

 

I disagreed with the amounts although believe their method to be fundamentally correct - they just entered the wrong figures, such as the PPI rebates received when the loans were settled early.

 

I informed both LTSB and the FOS of this fact and await a reply.

 

Landy x

Edited March 11, 2010 by landy_alert

[JGJ]

landy alert,

 

Keeping you up to date with my LPI/PPi reclaim from LTSB.

 

After sending e-mails and telephone calls to the FOS "REJECTING" LTSB full and final offer.

 

So, as I did not know what the offer actually was in monetarial terms and the fact, that LTSB have activated their threatogramme machine IQOR collections to collect the remaining balance, I received this wonderful letter from the FOS.

 

I understand from Lloyds that you have accepted its offer, in full and final settlement of your complaint. ()

 

I am pleased to hear that the matter has been brought to a satisfactory conclusion. I will therefore, now arrange to close my file on this case.

 

Yours sincerely.

 

What on earth is going on at the FOS how can they arrive at their decision when all I have said and done is complain and write to them rejecting the banks offer in its present state, I have "NOT" signed any form of acceptance of its full and final offer, nor intimated that I would.

 

It appears to me that the FOS have not read, or in fact listened to any of my complaints verbally or in writing, having filed them away until this startling revelation from LTSB, whereupon they have sprung into life and decided to close "MY" file on the case because of the fact that LTSB have misinformed them.

 

Your comments/advice will be gratefully received.

 

 

"EXEMPLO DUCEMUS"

[landy_alert]

landy alert,

 

Keeping you up to date with my LPI/PPi reclaim from LTSB.

 

After sending e-mails and telephone calls to the FOS "REJECTING" LTSB full and final offer.

 

So, as I did not know what the offer actually was in monetarial terms and the fact, that LTSB have activated their threatogramme machine IQOR collections to collect the remaining balance, I received this wonderful letter from the FOS.

 

I understand from Lloyds that you have accepted its offer, in full and final settlement of your complaint. ()

 

I am pleased to hear that the matter has been brought to a satisfactory conclusion. I will therefore, now arrange to close my file on this case.

 

Yours sincerely.

 

What on earth is going on at the FOS how can they arrive at their decision when all I have said and done is complain and write to them rejecting the banks offer in its present state, I have "NOT" signed any form of acceptance of its full and final offer, nor intimated that I would.

 

It appears to me that the FOS have not read, or in fact listened to any of my complaints verbally or in writing, having filed them away until this startling revelation from LTSB, whereupon they have sprung into life and decided to close "MY" file on the case because of the fact that LTSB have misinformed them.

 

Your comments/advice will be gratefully received.

 

 

"EXEMPLO DUCEMUS"

 

Hi JGJ:-)

 

Apologies for not responding till now, but I've been offline all day.

 

Well, words absolutely fail me on this one - I knew they could be pretty incompetant, but that takes the biscuit!

 

This is something I haven't experienced, although I did receive one letter a while back that said they believed I was on the point of (or might have recently) accepting an offer from LTSB. This was accompanied by a letter addressed to someone totally unknown to me with whom the only thing I had in common was living in the same county:eek:

 

Did you call the FOS and ask for an explanation?

 

It just seems they want to whizz through these complaints as fast as possible and as a result are providing a very unprofessional and slapdash service.

 

Pompeyfaith did provide a link once to a FOS questionnaire or something similar whereby one could complain about the service they provide, but I have always been reluctant to go down that route in case it clouded their judgment when considering further cases I might pass their way - might be worth a try though?

 

Unfortunately I cannot find it at the moment, but it should be easy to find if you do an advanced search for threads started by PF!

 

Let me know how you get on.

 

Landy x

[landy_alert]

Hi folks:)

 

Just a further update to say that having heard nothing further from LTSB I sent them a follow-up letter yesterday asking them to explain their calculations in greater detail and once again giving my reasons for disagreeing with them. I copied this to the FOS.

 

I thought I was getting close to getting these LTSB PPI issues tied up, but looks like I was wrong (as always!) - the only consolation is that the longer it drags on, the more interest they will have to pay!

 

Landy x

[JGJ]

landy alert, everyone,

 

After receiving the astonishing reply from the FOS post #78 I received the following, even more amazing e-mail from them yesterday.

 

I can confirm that your case at the Financial Ombudsman Service was closed down on the 04 March 2010, this was further to your telephone call with my colleague ***** ****** on 03 March 2010 in which you confirmed to her that you would be accepting the offer that had been made by Lloyds TSB.

 

 

If you can provide us with evidence that you have not agreed to settle on this case and you wish for the complaint to still be investigated can you please provide me with this.

 

Should you have any queries please do not hesitate to contact me.

 

Well after three e-mails and a telephone conversation in which I categorically stated that I would not be signing the full and final offer until Lloyds TSB provided me with the full breakdown the above outcome is the result of my efforts.

 

Apart from the form to sign from Lloyds TSB re the full and final offer, they have not responded to my letter requesting the full breakdown, it certainly seems (IMHO) the FOS are doing their dirty work for them.

 

 

 

"EXEMPLO DUCEMUS"

[landy_alert]

landy alert, everyone,

 

After receiving the astonishing reply from the FOS post #78 I received the following, even more amazing e-mail from them yesterday.

 

I can confirm that your case at the Financial Ombudsman Service was closed down on the 04 March 2010, this was further to your telephone call with my colleague ***** ****** on 03 March 2010 in which you confirmed to her that you would be accepting the offer that had been made by Lloyds TSB.

 

 

If you can provide us with evidence that you have not agreed to settle on this case and you wish for the complaint to still be investigated can you please provide me with this.

 

Should you have any queries please do not hesitate to contact me.

 

Well after three e-mails and a telephone conversation in which I categorically stated that I would not be signing the full and final offer until Lloyds TSB provided me with the full breakdown the above outcome is the result of my efforts.

 

Apart from the form to sign from Lloyds TSB re the full and final offer, they have not responded to my letter requesting the full breakdown, it certainly seems (IMHO) the FOS are doing their dirty work for them.

 

 

 

"EXEMPLO DUCEMUS"

 

Hi JGJ:)

 

That's terrible - I'm flabbergasted by their sheer incompetance and I'm definitely beginning to think that BankFodder is right when he says don't bother going to the FOS!

 

There certainly seems to be evidence that either the FOS are totally out of their depth with so many complaints that they are getting their knickers in a twist or they are happy to use any excuse to side with the banks - just between the two of us and a few other cases I have read is enough to make me lose all confidence in them.

 

I can only suggest that you send them a letter clearly stating the fact that you have not under any circumstances accepted LTSB's offer and that as far as you are concerned your case is most definitely not closed.

 

It might be worth starting a specific thread in the 'Financial Ombudsman' sub forum detailing the catalogue of errors they have made in dealing with your complaint, where you might get other advice and opinions.

 

I don't suppose you recorded the telephone call where you said you were not prepared to accept the offer with no details of how much it was for? That would be most useful for proving that you did not accept their offer.

 

Something has to be done about the failings of the FOS - I just don't know what:confused:

 

Keep your chin up - this must all come right eventually!

 

Landy x

[JGJ]

landy alert,

 

After about 1 hour after firing off an e-mail to the FOS this morning with my latest letter to Lloyds, categorically stating my reason for not accepting their offer (attached.) I was astonished to receive a reply from them with the following, an apology for the confusion caused and that they will of course now keep the file/complaint open and ongoing.

 

In my e-mail I asked very nicely for them to re-examine all of my correspondance to them secure e-mails and overt mail etc and to listen to the recorded conversation with my "Confirmation to accept Lloyds offer therein" and send me a copy, (wont hold my breath)

 

So we now enter the next phase hopefully nearing the end of this debarcle. I will send you a pm.

 

"EXEMPLO DUCEMUS"

[landy_alert]

landy alert,

 

After about 1 hour after firing off an e-mail to the FOS this morning with my latest letter to Lloyds, categorically stating my reason for not accepting their offer (attached.) I was astonished to receive a reply from them with the following, an apology for the confusion caused and that they will of course now keep the file/complaint open and ongoing.

 

In my e-mail I asked very nicely for them to re-examine all of my correspondance to them secure e-mails and overt mail etc and to listen to the recorded conversation with my "Confirmation to accept Lloyds offer therein" and send me a copy, (wont hold my breath)

 

So we now enter the next phase hopefully nearing the end of this debarcle. I will send you a pm.

 

"EXEMPLO DUCEMUS"

 

Hi JGJ:)

 

Glad you've got them to see sense!

 

Hopefully as you say the end is now in sight and a successful resolution is not far off - keeping everything crossed for you!

 

Landy x

[JGJ]

Hi landy,

 

Hope you are well and everything going to plan, I have sent you a pm/e-mail.

 

"EXEMPLO DUCEMUS"

[landy_alert]

Hi landy,

 

Hope you are well and everything going to plan, I have sent you a pm/e-mail.

 

"EXEMPLO DUCEMUS"

 

Hi JGJ:)

 

Yes thanks - you too I hope?

 

Thanks for those - I've been busy DIYing all day, but will have a proper look later this evening and see what I think............

 

Landy x

[landy_alert]

Hi everyone:)

 

Just updating this thread -

 

Today I received further figures regarding the PPI refunds on these loans from LTSB via the FOS. Their offers have increased slightly - by approximately £300 on one and £100 on the other, but still fall short of the amounts I had calculated by approximately £500 and £400 respectively. Below is part of the detailed explanation of one of their offers, which they actually say they have calculated using my method

 

'1. Take total cost of PPI including interest £2113.30 + £266.40 = £2379.70

I have calculated the interest for PPI only by finding out what % of the total loan was as a result of the PPI and applying the same percentage to the total interest charged:

 

______£2113.30_______x 100 = 17.4461%

(£10,000 loan+£2113.30 PPI)

 

Therefore interest as a result of PPI = 17.4461% of £1526.99 = £266.40'

 

They end by saying -

 

'I appreciate that these figures appear to be less than those that were calculated by ***** but the interest on the PPI that ***** was utilising in their calculations were incorrect and too high.'

 

Now, I had thought that interest was charged on the PPI at the same rate as the loan - in this case 10.8% - and that the total cost of PPI was therefore 60 x £45.23 = £2713.80 - am I wrong in thinking this?

 

They go on to state that the difference in settlement costs is £704.25, whereas I believed it should be the unused premiums 45 x £45.23 = £2035.35 - £997.00 (early settlement cost) = £1038.35.

 

If any wise person can clarify who is right here please I would be most grateful as I have to now make a decision as to whether I should accept these offers.

 

Many thanks as always,

 

Landy x

[landy_alert]

Well, having eventually (and with huge help from dx and Turboman - thanks again guys ) established that LTSB's figures are indeed pretty much correct, I have indicated to the FOS that on the understanding that these refunds are in the form of a cheque and should in addition contain some compensation for the distress and inconvenience caused, I would be prepared to accept the offers.

 

Today the FOS adjudicator has confirmed that on top of the refunded amounts Lloyds will pay a further £200 in compensation.

 

After all the palava over figures not being included on an acceptance form - a point I've forcibly drummed home to the poor guy at the FOS who must be pretty sick of me by now - he stressed the point that the 'standard FOS settlement' form he is sending out for me to sign will not contain 'precise details' but 'the firm will honour the settlement as promised', so it will be interesting to see whether they do

 

Mind you it will probably be 12 weeks before the cheque arrives, so I don't advise anyone to hold their breath...........but this is on the verge of (although not quite until I have the cheque in my hand) a 'won' now at long last!

 

Landy x

[landy_alert]

Hi everyone:)

 

Well as promised in my other LTSB thread, I have a further update on te status of this complaint -

 

Today I received not only a cheque for my other two LTSB mis-sold PPI complaints but also one covering these two - another £3000 approx

 

Once the cheque has been banked and cleared I will update my thread so the title can be changed to 'won'

 

This refund has come earlier than expected - the FOS had warned me it could be the back end of July before it arrived, so for once LTSB have done something right

 

Only two more LTSB refunds to go now!

 

Many thanks to all involved in helping me with this one!

 

Landy x

[JGJ]

Hi landy,

 

Congratulations on your well fought for and deserving windfall:)

 

Bring on the other two and I hope you have the same success.

 

I have just recently sent my forms back to Lloyds re my LPI/PPI claim.

 

The FOS were shambollic in their handling of my particular claim and I had

 

to send letters to both Lloyds and their DCAs as they were harassing me

 

to conclude, when I was not happy with their proposal/offer.

 

I am now eagerly awaiting another round or two of sparring with them,

 

hopefully with the correct result.

 

 

"EXEMPLO DUCEMUS"

[dx100uk]

dx

[landy_alert]

Thank you JGJ:)

 

I won't believe it till the cheques have cleared, but think it's unlikely they will bounce, lol!

 

It's ridiculous that despite the accounts being in clear dispute over these issues, the FOS seem to side with the way the banks/DCAs choose to handle the situation.

 

Hopefully you won't have to wait too much longer for yours - both this one and the other one received today have come in weeks ahead of the time-frame suggested by the FOS.

 

That said, the one I'm waiting for on my loan which is still current was earmarked for receipt around the middle of June yet the FOS adjudicator contacted me last week to say due to a deluge of refunds being processed, Lloyds are behind schedule and to expect a delay of a further 4 weeks

 

Thanks for your support and keeping my fingers crossed that you get good news soon!

 

Landy x

[landy_alert]

dx

 

Thanks for all your support on my PPI issues dx

[weakspot]

Oh wow, congratulations - it gives us all hope

[dx100uk]

Thanks for all your support on my PPI issues dx

 

i just wish i could find someone good on proving my gas meter is woefully overreading, thats my big problem.....

 

dx

[landy_alert]

Oh wow, congratulations - it gives us all hope

 

Thanks Weakspot - glad to be of use

[landy_alert]

i just wish i could find someone good on proving my gas meter is woefully overreading, thats my big problem.....

 

dx

 

Do you have a thread on this dx?

[dx100uk]

Do you have a thread on this dx?

http://www.consumeractiongroup.co.uk/forum/utilities-gas-electricity-water/262401-scottish-business-gas-meter.html#post2964979

 

i have all the bills in pdf.

just ask

 

dx

[landy_alert]

http://www.consumeractiongroup.co.uk/forum/utilities-gas-electricity-water/262401-scottish-business-gas-meter.html#post2964979

 

i have all the bills in pdf.

just ask

 

dx

 

Okey dokey dx - will have a look.........even if it's only to offer moral support, it's the least I can do for all the help you've given me

[dx100uk]

thank you.

 

dx