Lloyds TSB credit card PPI (court) *** SUCCESS ***

[Buster78]

Hi all,

I had PPI on my Lloyds TSB credit card, which was taken out in 2002. I didn’t know I had it but in 2009 Lloyds sent me a booklet that stated people on Incapacity Benefit weren’t covered by the policy (I’ve been on it since before the card was taken out).

 

I submitted a complaint to Lloyds and they refused to repay the premiums, but at the time I also took them to court under the DPA as they didn’t supply all the info I requested. As I was dealing with that I forgot to submit a complaint to the FOS so I can’t take it to them now.

 

I’m just preparing my POC to take them to court but can anyone tell me whether the result of the test case (with the FSA?) meant the banks had to go over all the old claims and reinvestigate? I wrote a LBA to Lloyds in late Aug of this year and they didn’t get back to me so I phoned the PPI helpline a couple of times. The last call I was told they had closed the complaint in 2009 and they could not reopen it. I’m just wondering if I should include it in my POC.

 

Thanks for any help you can offer.

[dx100uk]

pers i'd start a new claim

 

FOS Q+A and a new SOC

 

nothing says you cant

 

it threre history on here in previous threads

 

might be an idea to either merge or link the thread

 

as we have some very good people onboard now

 

and TBH lloyds are coughing quite nicely after a bit of a fight

 

dx

[Buster78]

Hi dx100uk,

 

Thanks for your reply! I've just phoned the PPI helpline again to see if a new complaint could be submitted. The person I spoke to didn't really seem to know much and had a thick Indian accent, so it was a little difficult to understand her. She’s filled in a complaint form which I’ll soon receive acknowledgement of and a reply within 12 weeks I think she said, so we’ll see. They may come back and say they can’t accept it, but it’s worth a try and something I didn’t think of, so thank you!

 

I’m not sure what threads you’re referring to but I’ll take a good look around and see what I can dig out.

Thanks again.

[dx100uk]

just type it lloyds PPI in our advanced search top right

 

dx

[Buster78]

Hey dx100uk, you are a star!

 

As stated I submitted a new PPI complaint in December and I received a letter in January saying they had taken another look at the previous complaint + findings,

but they could not over turn the decision.

 

I’m not entirely sure if this was in relation to the new claim or the letter I sent them before I found out the first had been closed.

 

I sent them a further letter saying the decision was unacceptable.

 

In Feb I received another letter thanking me for my complaint and I’d have a decision within 8 weeks.

 

Today I received a letter saying they are upholding my complaint and refunding the PPI.

 

I don’t fully understand the details though. It says…

 

‘As our final response we are offering you a payment of £3121.49 to bring your complaint to a conclusion.

 

This represents a refund of all the PPI premiums paid (inclusive of interest), plus simple interest at 8% for any period where your account was in credit, or from the date of the card being closed to the date of payment….’

 

The calculation is as follows:

Difference between the actual and revised balance…….. £3092.58

Interest at 8%, calculated up until 14 May 2012……….....£28.91

Total £3121.49

 

It says they’re paying it into my account within 28 days, but if I don’t wish to accept the offer I should call them ASAP.

 

I only have details of premiums from May 2003 to May 2009 when I cancelled the policy, and they total £1080.77.

[dx100uk]

then they have used the FOS method and that is coreect

 

good result.

 

 

dx

[Buster78]

Hey dx100uk, thanks for the reply. It's excellent; I didn’t think it was ever go to end. I’ve just noticed I didn’t ask the question I wanted to ask.

 

I don’t understand the £28.91. The £3092.58 is the premiums and the interest I paid, but what period is the £28.91 from, is it the date I raised the compliant to the payout? The credit card account is still open and I don’t think it was ever in credit, which is why I’m confused.

[dx100uk]

the ppi refund [month per month , dont forget the outstanding or not will now be diff for every statement]

by them repaying the PPI on month by month basis, some months you would now have been in credit

or MORE incredit than what you already were

 

thus in those months, they are obl to pay you 8% stat int

as you were deprived of that money.

 

dx

[Buster78]

Hi dx, many thanks, not only for the explanation, but also for your previous help. I thought they had to pay 8% interest on the whole amount, which must have changed with the test case, it's all too confusing.

Just have to wait for them to pay out.

Thanks again

[Buster78]

Just a quick update. Lloyds have now put the money into my bank; it’s finally over!! Many thanks to everybody that has helped me with this, I will make a donation shortly.

[ims21]

Excellent...well done

 

Enjoy your winnings

 

I'll change your thread title to reflect your win

[Buster78]

Thanks ims! I was hopeing to make a donation to the site as I wouldn't have done it without you, but I can't seem to find the donate button. I know there used to be one on the front page, can anyone point me in the right direction please?

[ims21]

If you look at the word donate that should be a link in itself. Click on the word donate and you should be taken the appropriate page

 

ims

[Buster78]

Cheers ims, I didn't think of that, I've been looking for over an hour!

[dx100uk]

and ofcourse is on the bottom of every email alert you get of thread activity

 

dx