John V Lloyds TSB Loan PPI

[Scouserlad]

Hi

 

I am going to claim my PPI back on a Lloyd's tsb loan after reading on this website i feel it has been mis-sold to me, I paid £4359.69 added on to the loan. The loan was taken out in October 2003, Can anybody help me calculate the intrest that would need to be added to that sum ?

 

Thanks

[maroondevo52]

Hi,

 

I've moved this thread to the PPI Forum, I'll ask dx to see if he can help you.

 

Regards.

 

Scott.

[rebel11]

Hi Scouser

 

Have you looked at the Spreadsheet?

 

http://www.consumeractiongroup.co.uk/forum/content.php?559-Interest-Calculation-Spreadsheets.

 

http://www.consumerwiki.co.uk/index.php/Interest_Tutorial

[Scouserlad]

Hi

 

After reading all of the agreement i believe i have found something else with the agreement, I have always been told with any type of credit agreement that by law you have a minimum of 14 days in order to cancel it but on this lloyds tsb (look at the uploaded image) that it says its a non Cancellable loan.

 

[dx100uk]

poss you signed it in the branch?

then there is no right to cancel i think.

 

dx

[Scouserlad]

Hey

 

Alot has happened since i posted here on this matter, lloyds tsb declined my complaint so i went to the fos who have advised lloyds tsb would write to my directly as they decision is a refund plus interest minus the 2 successful claims which i have been told is the standard reply. After not hearing from lloyds tsb i telephoned there complaints team said there will be a letter sent within the next few days. I got a letter telling me they can not send the offer letter directly to me but they have sent it to the fos and i will have to wait for a copy from them, i find this just time wasting from lloyds ? any advice

 

Thanks

[dx100uk]

certainly i had that with my one too

 

CHECK they have got it correct BEFORE accepting the offer

 

dx

[Scouserlad]

When i spoke with the fos they said lloyds should not be doing that as they have a 8 day postal backlog at the office so any letters they get will be sat there for 8 days waiting to be opended, What should i be doing about the stupid timewasting methods they are using ?

[ims21]

Hi Scouserlad

 

Just responding to your PM

 

As dx says, check the offer before accepting it. What you should be getting is each of your ppi payments + 8% interest running from the date of payment to date of settlement. You then just deduct from the total any amount which has been paid out under a claim on the policy.

 

You can use the attached spreadsheet. In the list section, enter the date of payment, the description (e.g. PPI Payment) and the amount. So you only need to enter data in columns A, B and C, You can then change your personal details in the blue section. Take the total you get from this sheet and deduct from it any claim amounts that have been paid out and tha is waht you should be getting back.

 

The copy of the agreement you posted above is too small to rad unfortunately.

 

As regards Lloyds writing to fos, I think the only thing you can do is send a strong letter to Lloyds pointing out that they should be corresponding with you as regards the offer and that they are in breach of guidelines for not dealing with your complaint properly. Demand that they send you the offer forthwith. As it seems to be getting near a conculsion though, it may just be that you have to wait just that little bit longer but it will be worth it in the end.

 

Regards

 

ims

 

StatIntSheet.xls