MadKit v Lloyds-PPI reclaim litigation ongoing.

[MadKit]

Good afternoon and I hope everyone has had a very Happy Easter!

 

I am about to start a claim at Money-COL for refund of PPI and wondered if this was appropriate:

 

The claim is for monies owed to the Claimant (Me) by the Defendant (Lloyds) pursuant to the mis-selling of Payment Protection Insurance (PPI) on agreement number XXX regulated by the Consumer Credit Act 1974. The Claimant claims the refund of PPI single premium payment on 1 XXX 2006, refund of PPI charges as part of monthly payments and interest pursuant to the terms of the credit agreement at the rate of 8% per annum from the date of assignment to the date of judgment. The Claimant is also entitled to claim post judgment interest on the same terms. Full particulars of claim to follow in accordance with the CPR practice direction 7C (Para 5.2)

 

Not sure about the bit in bold as it seems to be the same as the sentence before but willing to keep it in if its appropriate.

 

Advice welcome (read needed) 8)

 

MadKit

[citizenB]

Have you already complained to LTSB and on what grounds are you reclaiming ie.. why was it mis sold ?

 

What reason did LTSB give you for the rejection of your claim.

[MARTIN3030]

Lloyds are one of the biggest stallers,and no doubt will be asking for the FOS questionaire being filled in.

I did one myself,and ended up having to file.They only agreed to settle at allocation stage-and even then were still firing off offers.

Its likely there has been offers.

Lloyds will maintain that its premature to be going to the FOS while they are still so-called-considering,and will not give final decisions in order to frustrate escalation.

I am not sure that MCOL is the best course here over a live N1,due to the weight of submissions.

NBCC could also impose a stay on account of the BBAs talks of a possible appeal against the recent SC ruling.

Its too early yet to get any grasp of what Northampton will be doing-imo better to file at local court and have more chances to address any probs if Lloyds try to go for a stay in your local court.

[pop_gun]

Madkit, can i ask why you haven't used compound interest to calculate what is owed to you?

 

is the 8% court interest as the interest on your actual account would've been far higher. we're talking,

anything between 17-20% per annum. shame to lose out on that, especially as you'd be entitled to it.

 

why no claim for unjust enrichment?

 

you're entitled to interest after judgement, although i suspect the courts will calculate after the period

in which the defendant has to pay the judgement. i could be wrong though i suspect i ain't.

 

happy hunting

[MARTIN3030]

The amount due and payable,will be as specified in the POCS and will be up to the date judgement is granted.

There is no harm in trying for contractual interest,and stating section 69 in the alternative that the court is not minded to award CI.

[MadKit]

Thank you for your replies, your advice is greatly appreciated.

 

CitizenB - we've been complaining to Lloyds, trust me, for a long time! They have consistently ignored every letter with only one response from the insurance side saying contact FOS and from head office quoting the ongoing court case. Any requests we made to cancel the insurance and refunds have been consistently overlooked. It is not only a stalling tactic but a complete ostrich act - if I stick my head in the sand, you can't see me. As for the list of reasons to refund, they include not mentioning it was optional, there were alternative suppliers, pre-existing medical conditions as an exclusion, single payment plus repayments not advised, length of agreement more than insurance cover etc. The list goes on.

 

Lloyds have not once offered a refund or even mentioned this.

 

Martin3030 - I've drafted a POC in this regard, I know everyone is different but I'm worried I've missed something and rather than post it here, would it be possible to PM it for a once over please? I think you are right it would be worthwhile doing this at the local court rather than MCOL - needs to be weightier.

 

pop_gun and Martin3030 - I will certainly go for the contractual interest applied to the loan, if we only get 8% it is still a reasonable figure. Nothing ventured...

 

This is the first of a number of claims so I want to get this right.

 

Thanks again!

 

MadKit

[MARTIN3030]

Hello MK.

Yes you can send your spec POCS to site team via the report icon.

The one I did was quite long,and I do remember having to spend a lot of time putting it together.

Since there is no template as such because all PPI claims need to be specific to the individuals eligibility,it means getting it right early doors.

Lloyds will challenge and deny any liability-I still have their Solicitors defence-which was quite exhaustive.

[MadKit]

Martin3030, could you let me know where the report icon is and how I can send the POC through using this please? Thanks!

[MARTIN3030]

its the little black triangle in the bar at the bottom of the post area.

Just copy and paste it there and send.

[MadKit]

Thanks Martin3030, I did it.

[steven4064]

I have had a quick look - I would not use the word "fraudulent" - that would be a criminal offence. IMHO you should find a different word to describe the advice given

[MadKit]

Thank you Steven4064 - is this better:

 

On the basis of this and further contentions outlined below, the Claimant believes that the advice given by the Defendant breached common law in that the representation of the product’s suitability was either made (1) knowingly, or (2) without belief in its truth, or (3) recklessly, careless whether it be true or false. I refer the court to the judgement given by Lord Herschell (Derry v Peak (1889) 14 App Cas 337).

 

MadKit

[MARTIN3030]

I remember this being used in a Lloyds PPI case.

Their Solicitors deemed the allegations too serious for SCT and sought to have it moved out citing complex arguements.

Your base figures ex interest are still within 5k.

Will send it back once we have looked more closely.

[MadKit]

Thank you so much! I look forward to receiving it back.

[MARTIN3030]

sent to you.

[MadKit]

Thank you so much! I have received it and it will be going into the local court tomorrow, I can't wait! I will keep the thread updated and let you know how I get along. 8-)

[reidnet]

http://www.bbc.co.uk/news/business-13317391

 

The above may be of some Interest to you in your fight with Lloyds ...

[MARTIN3030]

Lloyds, the biggest seller of PPI, said this week it would repay all customers missold such policies, other banks may continue to fight claims."

 

I will believe it when I see it-Lloyds have systematically denied their policies were missold-and I think this statement should not be taken as wholesale-although I would love to be proved wrong.

In any case,Mk is claiming contractual,and I am sure Lloyds wont be refunding that without a fight....bring it on.

[MadKit]

Thanks to M and S who have been marvellous with helping draw up the POC and for everyone else's support, the claim is going in today! I'll let you know how it goes and hopefully soon the thread will be updated to "SUCCESS"

 

MadKit

Edited May 9, 2011 by MadKit

[zeblet]

I don't know if any one can advice on my situation. I tried to claim back my PPI from LTSB a coouple of years ago as it was mis sold to me. It went to court and LTSB won. The magistrate at the time said I could apeal to the High Court but I did not have the resources/knowledge to do that. Am I able to claim again now that the new rulings have been made?

[MadKit]

I tried to get PPI back from a CC company a couple of years ago and didn't receive notification of the hearing from the court so the CC company had it struck out and added costs. I spoke to the DJ and he said I could re-instate the original claim or start a new one. I have every intention of taking them on again and with the judgement, they don't have a leg to stand on.

 

MadKit

[steven4064]

Go for it. The longer things go on, the more amunition you have

[pop_gun]

I don't know if any one can advice on my situation. I tried to claim back my PPI from LTSB a coouple of years ago as it was mis sold to me. It went to court and LTSB won. The magistrate at the time said I could apeal to the High Court but I did not have the resources/knowledge to do that. Am I able to claim again now that the new rulings have been made?

 

i'm interested. on what grounds did you lose the case?

did LTSB actually go to court or have the case struck out?

[MARTIN3030]

I don't know if any one can advice on my situation. I tried to claim back my PPI from LTSB a coouple of years ago as it was mis sold to me. It went to court and LTSB won. The magistrate at the time said I could apeal to the High Court but I did not have the resources/knowledge to do that. Am I able to claim again now that the new rulings have been made?

 

Zeblet,in the first instance I would suggest that you start a thread of your own and explain more.

I assume you mean County Court Judge not magistrate.

You can apply for permission to file another claim based on the recent rulings.

It will cost you but you can add it on.

I suggest you inform Lloyds of that intention and get it in writing that they have no objections if you are filing in Court.

Actually it may not go that far.

The recent rulings following the Court case,mean they are unlikely to defend.

Their previous win should have no impact on any claim now.

I also would be interested to learn more of the decision made in your case last time.

Edited May 11, 2011 by MARTIN3030

[MadKit]

Hi Ho, Hi Ho, off to court we go!

 

Handing in the the first of a few N1 forms and POCs this morning so updates to follow. Thanks again for all the help and advice I received on CAG.