reclaiming my dads various PPI's from Lloyds Bank

[NGEddie]

Hi guys,

 

Bit of a strange one possibly!

 

My Dad had 2 reasonably large loans, as he has been permantly signed off as unable to work again, the PPI he has is actually paying these off until clear, have it in writing and a few years to go on them yet.

 

This is obviosuly very good and peace of mind.

 

Now I believe the PPI could have been misold, but are obviously being used and needed now, however there have been several loans prior to the current two, each time clearing the old and borrowing a bit more.

 

Really makes me cringe and wish I had know each time another was taken to help undo the mess.

 

I am thinking is it worth looking into the whole PPI issue, maybe not for the current ones as its being used and I fear it could rock the boat, but moreso the older ones which have been closed?

 

Am totally new to this side of things so dont want to go and open a can of worms!

 

Would appreciate any thoughts from y'all.

 

Cheers

 

E

[dx100uk]

there is nothing wrong with doing that.

do you have all the details?

if not you will have to SAR them

 

pop along to the PPI forum

there are a good few stickies that will help you.

 

one is:

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

there are others.

 

as well as an SAR for PPI too.

 

your dad would have been well ripped off with PPI on refinancing .

should be a pretty penny. oh and it should go direct to HIM not off the bal, unless thats the way you want it.

 

also remember that there is NO time limit whatever they say.

its WHEN you become aware of it .

 

dx

[NGEddie]

Thanks dx, thats very helpful.

 

Just been reading that link and they were definatley the ones paid upfront and not monthly, he said the bank claimed these were refunded or something each time another loan was taken out to clear the old one?!

 

Looking at the statements I believe a small amount of money was put into the account but I need to recheck this again.

 

So you think there could be a chance of getting some money back? As far as I recall there could be about 6 loans over about 10 years going back!

 

Thanks again

 

E

[pompeyfaith]

What happens when one loan refinances another is that you will get a partial refund of the PPI.

 

But you do not get this as hard cash because the PPI was not paid of in full so this just reduces the balance owed.

 

Now as this was mis-sold you should not have had a partial refund but instead a refund in total.

 

this means that the total PPI cost plus any monthly payments to this PPI should have come of the balance.

 

So yes you should be due some money back.

 

As DX has said you will need to S.A.R them to get copies of Documents they hold on these loans.

 

Do you know the account numbers as that would make things easier so they know you do not want a refund on the current policy which is paying out.

 

Regards

 

PF

[NGEddie]

Hi guys!

 

My Dad has two loans which due to him being advised too ill to work a couple of years ago are currently paying out with PPi,

well one actually ends very soon and the other next year.

 

We have been a bit dubious about doing anything incase they stopped the montly payments,

one is about £475 and the other about £200.

 

I am yet to go over the paperwork but am guessing the PPi side was quite an amount on each when set up.

I have been meaning to do something about this for ages but having been recently made redundant I now have the time on my hands

The two loans here, were taking out to pay off two older loans and give him some spare money,

and I believe this could have even happened the time before that as well, you can see the slippery slope!

 

I understand you can only go back 6 years though?

 

I am fairly sure PPi would have been on the previous ones too.

 

On a similar note,

 

he has a credit card with about 2k left I believe and has been paying £20 a month off with frozen interest for a good 2/3 years now,

its strange as when he called to get a new payment book they had a real job finding the account,

it was removed from the online access we had,

and he never seems to get any statements apart from one when the new payment book was sent out.

 

With this one, I stupidly advised him to cancel the PPi which was being paid monthly on his statements

when realised he was getting into a bit of a mess so wanted to cut back where possible.

 

He doesnt recall PPi being advised of or mentioned at the time so was probably...we can do this for £475 a month fully protected...

 

How is the best way to handle each of these cases please and can claims be made?

 

I have read many other threads but couldnt find any similar situations!

 

Many thanks in advance as always for advice

 

Cheers

 

Ed

Edited November 13, 2012 by NGEddie
typo

[dx100uk]

YES!!

 

dx

[dx100uk]

ok

 

it might well be an idea to SAR the loan company

 

as if there is a history of refinancing

 

the sum in reclaim

might well be very large

 

 

as i bet he got no rebates upon refinance.

 

lots of info below

 

the fact that he is utilising the PPI at present

should not cause issues

 

i suspect, given the history, they owe him...lots.

 

dx

[NGEddie]

dx to the rescue...again

 

I may be very good at these by the end then, lol

 

Ok I believe it could be l o a n s d i r e c t

they are with via the bank and seem to remember there may have even been a free phone number

and last time they gave dates and amounts,

 

I should be able to find the ref numbers from the bank statements and they may even be able to provide the PPi amounts

so shall give that a try tomorrow, that is unless best to just do the SAR thing?

 

Oh by the way, on ITV tonight Mr Lewis was saying some claims can actually be done via the phone?!

 

Thanks!

 

Ed

[dx100uk]

they can be done via the phone yes

 

BUT

 

i would never ever trust them as far as i can could kick them..

 

urm..loans direct, god i hope its not via GE money for you

 

let the fun begin.

 

IMHO, SAR them

 

dx

[NGEddie]

Good point, letter it is then

 

I have just spent the evening going through 10 years worth of statements and letters,

there does not seem to be any listings of loan or ppi values,

so everything I have kinda worked out from money going into the account, eg £15k, then 8k going straight out the same day to pay off what must be the older loan.

 

I dont suppose there is any point in getting figures on those over 6 years? or can you claim on the older ones?

 

No it was done via lloyds and not GE thankfully

 

Does the SAR have to be done for each reference number as there are about 8?

and does this give loan and ppi values?

 

Thanks again!

[dx100uk]

thhere is NO time limit on PPI reclaims.

 

one sar might find the info

 

dx

[NGEddie]

Thanks dx, I found 2 statements today, one says loan 18k odd and ppi 6k! and other loan 5k odd and ppi 2k!

 

Had no idea they would be so much

 

There is an 0800 llllllloyds number on the bill so i guess we call then rather than loans direct...direct?!

[dx100uk]

IMHO i would not trust lloyds to refund the correct amounts

 

have you all the statements.

 

did the loans run their full course

 

 

was one a refinance of the other.

 

dx

[NGEddie]

Sorry getting side tracked, so many things going on at the moment!

 

No the paperwork is very hit and miss :/

 

I have found the 2010 statement and the others I have found from reference numbers on bank statements,

surly they must send or give detailed paperwork every time a loan is taken out?

 

I dont think they ran their course ever no,

it seems indeed as you say one was just a refinance of the other,

 

I kept seeing for example £18298 go in and £15245 go straight out

so obviously paying off the previous and leaving the account in credit for a couple of months

until the gigantic monthly repayments took it all!

 

My Dad seemed to be under the impression the ppi bit was cleared or refunded,

but having spoken again just now I dont think they were all at,

but instead refinanced with the new lot plus the new ppi.

 

Thanks

 

Ed

[dx100uk]

send the failure to comply letter

stating what is missing.

 

as they rolled

 

you'll need all the setails

 

for each time it rolls

you can normally add another £1k!!

 

depending upon the loan amounts ofcourse!!

 

dx

[NGEddie]

Finally getting round to all these

 

DX...we meet again

 

I have been through all the statements prior to I guess the SAR? to get the information on the loans

 

In Brief they go back as far as 1998, it seems each time one was signed up and £ put into the account the amounts had odd pence, like £5280.23 or £3982.03, I noticed...insurance refund...after one loan was cleared so maybe this is what my Dad meant about them refunding the PPi?

 

One shocker though was he took out £11,800 and three months later cleared it at a cost of £13,730!!!! cannot understand that one at all :/

 

I didn't really want to started another thread just for this, but I also picked up where a loan was cleared, but they still kept taking the repayments for 4 months afterwards in 2006, is this too old to investigate? added to someone similar where they were taking a standing order and loan d/d for the same amount on another two months running also, it seems a real mess

 

Final thing spotted was a £170 overdraft fee in 2008, seems extortionate?

 

Many thanks for taking the time to read this and any advise

 

E!

[dx100uk]

Finally getting round to all these

 

DX...we meet again

 

I have been through all the statements prior to I guess the SAR? to get the information on the loans

 

In Brief they go back as far as 1998,

it seems each time one was signed up and £ put into the account the amounts had odd pence, like £5280.23 or £3982.03,

 

I noticed...insurance refund...after one loan was cleared so maybe this is what my Dad meant about them refunding the PPi? - yes but calc its correct lloyds were rarely correct

One shocker though was he took out £11,800 and three months later cleared it at a cost of £13,730!!!! cannot understand that one at all :/

 

I didn't really want to started another thread just for this,

but I also picked up where a loan was cleared,

but they still kept taking the repayments for 4 months afterwards in 2006, is this too old to investigate? -no

added to someone similar where they were taking a standing order and loan d/d for the same amount on another two months running also, it seems a real mess

 

Final thing spotted was a £170 overdraft fee in 2008, seems extortionate?

 

Many thanks for taking the time to read this and any advise

 

E!

 

dx

[NGEddie]

Ok thanks, from what ive read now if I SAR the data controller they should be able to give me everything for the loans and credit card together then?

 

Would I need to specify about PPi information or just use the standad template? I dont believe there has been many phone calls so provbably dont need to get them?

[dx100uk]

just send the std sar here

 

that will get you everything they hold on YOU

all accounts etc etc.

 

dx

[NGEddie]

Ok thanks, that should then include all bank statements then too, thats a HELL of a lot of paper coming through!

 

I did think should I specify I want more than just the 6 years or should I not mention it at this point?

[citizenB]

They are supposed to provide ALL information in respect of the financial relationship that they have on the Data Subject.

 

They should be able to provide this with just the name and address, but the more account numbers you can provide, the better. You should make it clear that you want them to search ALL their data bases and that the request is for ALL data.

[NGEddie]

Thanks Cit

 

Dx I just read this again, should I SAR the bank then, or the loan company?!

[dx100uk]

why are they diff?

dx

[dx100uk]

that's the trouble with dealing wit all reclaims on the same thread...

 

ge money

Lloyds loans

Lloyds credit cards

 

we never know which one you are taling about.

 

you will only need ONE SAR to lloyds

 

as for GE money

one to them..

 

dx

[NGEddie]

I was trying not the mix them up as I said before, its nothing to do with GE thankfully, just Lloyds and loans direct...whoooo are the same people?!