General Lloyds ppi question

[choccie13]

I am hoping someone can answer this Lloyds ppi question for me.

 

Before I actually ask this is more so I understand than wanting help at this moment in time.

 

 

The question I have is in regards to a Lloyds assit card that was taken out on 24 April 2001

 

I found some old statements and it had something called a CPP on it which disappeared around 2006 and ppi started to show instead on the statements.

 

So my question (s) are:

 

1) What actually is CPP and how is it different to ppi?

 

2) If someone was claiming them been mis-sold (for whatever reason) would it be one claim for both or two separate claims?

 

And a couple of unrelated questions:

 

1) Out of all the Credit ref companies which is the best between Noddle, Clearscore & Experian?

The reason I ask is because on noddle it says that an account is open but on clearscore it says the account is closed

and even though I just received my £2 report from Experian I don't understand what is open or closed on there.

 

2) If on my credit report it says that an account is settled and has a £0 balance by the original lender

but DCA (Lowells) says there is still a balance owing. What does that mean?

 

3) On my credit report a DCA is shown to have updated three different times for the same account.

 

On noodle it shows - 7th September (account open)

On clearscore it says - 15th September (account closed)

On Experian it says - 20th September (account open? not sure due to the fact I can't figure out how to read there paper reports)

 

Which of those dates is the correct one? Also, can a DCA open and close the account like this?

 

Thank you for any replies I may get and I do apologise for all the questions but I just want to get an idea how to understand all this and if I don't ask then I will never know.

[Hortz]

I am hoping someone can answer this Lloyds ppi question for me.

 

Before I actually ask this is more so I understand than wanting help at this moment in time. The question I have is in regards to a Lloyds assit card that was taken out on 24 April 2001

 

I found some old statements and it had something called a CPP on it which disappeared around 2006 and ppi started to show instead on the statements.

 

So my question (s) are:

 

1) What actually is CPP and how is it different to ppi?

 

It stands for card protection plan. It is a product designed to protect you in the event of theft/fraudulent use of your card. The key is that in most cases they were pretty unnecessary since you are already protected from this under (I think) section 75 of the Consumer Credit Act. PPI is a different product which protects your credit repayments by making them for you if you are unable to work due to accident, sickness or involuntary unemployment.

 

2) If someone was claiming them been mis-sold (for whatever reason) would it be one claim for both or two separate claims?

 

They are separate products and if one started around the time the other finished, this is almost certainly entirely coincidental. Therefore, if you want to make a complaint about missale, each would be a separate issue.

 

And a couple of unrelated questions:

 

1) Out of all the Credit ref companies which is the best between Noddle, Clearscore & Experian? The reason I ask is because on noddle it says that an account is open but on clearscore it says the account is closed and even though I just received my £2 report from Experian I don't understand what is open or closed on there.

 

I don't have credit anymore and have only ever used Experian so not totally sure. Typically they only go back six years in any case. In any case, this is of no real relevance to a complaint about insurance missale.

 

2) If on my credit report it says that an account is settled and has a £0 balance by the original lender but DCA (Lowells) says there is still a balance owing. What does that mean?

 

I would think that it means the debt has been sold on by the original lender to Lowells. I.e. you no longer owe anything to the original lender, but instead owe the money to Lowells.

 

3) On my credit report a DCA is shown to have updated three different times for the same account.

 

On noodle it shows - 7th September (account open)

On clearscore it says - 15th September (account closed)

On Experian it says - 20th September (account open? not sure due to the fact I can't figure out how to read there paper reports)

 

Which of those dates is the correct one? Also, can a DCA open and close the account like this?

 

The dates are just the date that the record was updated. There may have been an error in one of the updates. Unfortunately, this is not a "get out of jail free" card with regards to repaying the debt.

[choccie13]

Thank you Hortz for answering my questions, as I said I just wanted to understand more fully what certain things mean and you have been very helpful.

[dx100uk]

CPP can be reclaimed see our CPP forum.

 

 

by the look of your credit file

 

 

looks like this debt has been written off by Lloyds and sold to a debt buyer

 

 

that rings alarms bells...not paying any DCA's anything are you?

 

 

dx

[choccie13]

Thank you for your reply, dx100uk.

 

There is a CPP forum? Where would a found that, please? I have looked in the banks forums and I can't seem to locate it. I am looking in the right place?

 

No, I haven't touched this debt since Oct/Nov 2011 and according to my credit report it defaulted in 29/6/12. Why does that ring alarm bells?

[dx100uk]

http://www.consumeractiongroup.co.uk/forum/forumdisplay.php?356-CPP-Group-Plc

 

 

....

 

 

why would a big multinational sell a debt on

and not take you to court....urm........

[choccie13]

Thank you for the link I will check out some of the threads there.

 

I am probably missing something obvious here.

 

 

But why would they do that?

 

 

Sorry that I am a little slow on the up take

 

 

a few months I suffered a head injury and it takes me a while to get things.

[dx100uk]

Lloyds would crush joe public in court.....

 

 

but you see

the debt is mostly CPP and PPI

and prob loads of PENALTY fees in there too..late/over/letter.

 

 

I think I'd get that sar from Lloyds

and weigh up if its worth reclaiming.

 

 

or keeping quiet

 

 

are lowlife hassling you by threat o grams?

 

 

dx

[choccie13]

Thank you for explaining. Yes, I think getting a SAR would be good to get the full picture.

 

In regards to Lowell's I haven't heard a peep from them and only knew about them through seeing them on my credit report.