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Lloyds PPI claim after going through Ombudsman


nigel1804
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Hi again everyone,

 

I wonder if someone could just clarify for me the PPi calculation. I have used all CAG site spraed sheets in every calculations to any bank. Now on this particular credit card the bank have been dragging their feet on payment to us. this is the first time I've had to go through the ombudsman and like in 98% of cases with Lloyds they have overturned the decision lloyds first made.

 

My spread sheet i've noticed is laid out as compound interest of 15.9% on my spread sheet that i did 18 months + ago. Now I know that the interest rate for a claim is normally 8% over the term from when the account was firdt started.

 

Can someone please just tell me which is the correct figure to use are lloyds trying it on again with me thinking that they may get me to accept the first re offer or do i go for the figure of 15.9% as per CAG compound interest and if so why and what do i say to Lloyds if it is the 15.9% figure I use.

 

regards

 

Nigel1804

HALIFAX CURRENT ACCOUNT SETTLED IN FULL 9/9/06.

 

N1 form completed 05-06-07,LBA sent 14-05-07,2nd go!Prelim sent 24/04/07

 

Halifax Visa 1.Paid in full

Halifax Classic.Paid in full.

 

LBA sent 14-05-07,GMAC prelim sent 24/04/07

 

Data Protection Act for halifax mortgage 16/09/06.

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Hi Bankfodder how you doing?

HALIFAX CURRENT ACCOUNT SETTLED IN FULL 9/9/06.

 

N1 form completed 05-06-07,LBA sent 14-05-07,2nd go!Prelim sent 24/04/07

 

Halifax Visa 1.Paid in full

Halifax Classic.Paid in full.

 

LBA sent 14-05-07,GMAC prelim sent 24/04/07

 

Data Protection Act for halifax mortgage 16/09/06.

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The PPI amounts would have been included in the outstanding balance that you paid interest on.

 

You could argue that you paid interest on the cumulative PPI payments.

 

You would also be entitled to add 8% interest on top of whatever you claim

 

LTSB are probably getting away lightly.

 

Given the way that LTSB are acting in (and happily paying fines for), it has crossed my mind that many of their actions are as much to do with cash flow management as anything else

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Many thanks 2grumpy .I was trying to establish why my compound interest spread sheet from CAG had worked it out with a 15.9% figure on it anyone know why it is before i reply to LTSB and loose out.....

HALIFAX CURRENT ACCOUNT SETTLED IN FULL 9/9/06.

 

N1 form completed 05-06-07,LBA sent 14-05-07,2nd go!Prelim sent 24/04/07

 

Halifax Visa 1.Paid in full

Halifax Classic.Paid in full.

 

LBA sent 14-05-07,GMAC prelim sent 24/04/07

 

Data Protection Act for halifax mortgage 16/09/06.

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