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LLoyds ppi on loan from 1991. Offer of £6.33p...........


angel49
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Hi. Long time since I last posted on CAG. I am hoping someone can help me guide my Brother. He had a loan for £1000 way back in 1991. PPI single premium was added making his total loan £1,112. He still had his original loan agreement which made it very easy to fill in his claim form for missold ppi.

 

He originally had gone to his bank to take out a pension plan with scottish widows (still running) whilst there he was encouraged to take out a loan also. That was his first and last loan!

 

On to the misselling of ppi, when he called back into the bank to sign the paperwork for the loan, the form had been prefilled. He hadnt been given a choice on taking out the ppi. he states that when he questioned the figures prior to signing it was only then he was told it was required for the loan.

 

lloyds letter just consisted of a breakdown of his ppi figures and conclude that he is entitled to a refund of £6.33 including interest.

 

Im a little bemused and wondered if I should be doing a spreadsheet to include 8% interest?

 

Any help would be greatly appreciated

 

Thanks in advance

 

P.S The offer letter arrived Thursday and the cheque arrived this morning. Quick service.....

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Correct

Where's the interest please

DX

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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info on filling out the spreadsheet in below

the spreadsheet is at the end.

 

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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Hi DX and thanks for the help.

 

Figures on the original agreement laid out as follows

 

CASH LOAN (A) PPI (B)

1100.00

DEDUCT BORROWERS CONTRIBUTION? 100.00

1000.00 AMOUNT OF LOAN 112.55 1112.55

270.08 TOTAL CHARGE CREDIT 30.15 300.33

1270 TOTAL AMOUNT PAYABLE 142.80 1412.88

52.92 MONTHLY PAYMENT 5.95 58.82

 

 

When filling in the spreadsheet do i claim for each and every payment made up to the 24 months it ran?

I will also send a letter, do I just thank them for upholding the complaint and ask them nicely for the interest they overlooked or is there something stronger for me to mention?

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input every payment for PPI on the date in was paid

each on a new row

the sheet will calc your refund.

 

 

send them that

and query why their refund is so 'small'

 

 

dx

please don't hit Quote...just type we know what we said earlier..

DCA's view debtors as suckers, marks and mugs

NO DCA has ANY legal powers whatsoever on ANY debt no matter what it's Type

and they

are NOT and can NEVER  be BAILIFFS. even if a debt has been to court..

If everyone stopped blindly paying DCA's Tomorrow, their industry would collapse overnight... 

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