LLoyds business loan and scottish widows business loan repayment insurance - PPI?

[wheresmyhairgone]

hi

 

i,m currently claiming back bank charges from , lloyds,halifax and capital one.

 

i,m have just cancelled my ppi on my lloyds loan, i,m am self employed and realised that that this insurance is probably no good to me anyway.

 

i just found out that mine was a B.L.R.I. (business loan repayment insurance. firstly cane i still claim this back and if i can will somebody kindly point me towards a thread that explains what to do step by step.

 

the B.L.R.I. which was £775.28 was added to my loan. it was a 5yr loan and i of which i had 6months left. i was refunded £24.04.

 

how do i work out how much to claim back and the interest

 

i think i was falsely sold this because i have just realised i am paying out £20.58 a month to scottish widows for a similar policy.

 

scottish widows phoned me week after i got the loan, they are part of lloyds and i understand that the person who sold me the loan passed my details on to them.

[wheresmyhairgone]

bump

[reidnet]

Hi,

Was the loan a personal loan or a business loan ?, I have spoken to an Insurance contact who has never heard of BLRI but presumes it it the same as PPI under a different name. It may be slightly different in the case of a business loan.

 

Hope that Helps

 

Ian

[wheresmyhairgone]

hi sorry its late

 

i,m a sole trader with a business account. its a business loan but in my personal name. its called a fixed rate non-cancellable loan. if thats any help

[reidnet]

If the terms and Conditions are similar to standart PPI I would have a go at this one.. Nothing Ventured Nothing Gained..

 

Ian

[wheresmyhairgone]

good morning

 

i am just about to send my prelim letter. is there a dedicated address to send it to, or do i send it to my lloyds branch.

 

thank you

[wheresmyhairgone]

bump

[wheresmyhairgone]

ok found the address. prelim letter sent today recorded. they have until 26/03/2007 to refund.

[wheresmyhairgone]

hi can anyone point me towards a prelim letter template for claiming back ppi.

 

thanks

[Janet-M]

great keep us posted on your progress

[olaf]

hi my name is olaf i noticed you asked for a template for claiming back ppi did you get one and if you did where did you get it from

[hellhasnofury]

hi can anyone point me towards a prelim letter template for claiming back ppi.

 

thanks

 

There ar quite a few kicking about your need to read the post on the other ppi threads.

 

This is one I sent it is a mix up of other people, you just amend it to your on claim

 

Hope it helps

 

xxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxxx

I write in response to my recent Subject Access Request dated 14th January 2007. I thank you for your information. After reading the information it has now come to my attention, that the loan account no xxxxxxx, which I took out on the 4th April 2001 had payment protection insurance applied to it. the loan was for £xxxxx plus £xxxxxx charge for credit/ interest. The payment protection insurance was calculated by yourselves at £xxxxx. Total amount of money payable £xxxxxx over ten years and I would assume unless otherwise directed by yourselves that 8,9% interest on the ppi of £xxxx was included into the interest applied to this loan. The insurance policy no of the payment protection insurance is xxxxxx. I have never received any policy or terms and conditions regarding this policy. I have received this information from the SAR you have recently sent to me

 

I am extremely disappointed that your company have conveniently failed to locate any copies of Contracts regarding the loan. I feel this statement hard to believe that you cannot locate these documents and by law under the data Protection Act 1998 and the Limitation Act of 1980 you must supply me with this information. There was another loan running prior to the above loan which I have also request information about. I shall be reporting this matter to the Information Commissioners Office.

 

Your responsibilities

 

I would draw your attention to the terms of the contract which you agreed to at the time that I opened my account. It is an implied term of that contract that you would conduct yourselves lawfully and in a manner which complies with UK law.

 

 

Firstly, I understand that at the time I entered into the loan contract with you your bank was running an incentive scheme to encourage your employees to sell PPI schemes, as were several other High Street banks. This information was posted on a public website in September last year:

 

 

SECRET documents leaked from two major banks show how bosses get their staff to sell big loans and the profitable insurance policies that go with them Commission tables for the RBOS and NatWest reveal a score system in which bank workers amass disproportionally more points for selling larger loans and for those sold with insurance - sparking fears that inappropriate products are being pushed

.

In-branch customer service advisers are able to earn a quarterly bonus of £1,200 if they consistently reach a weekly target of about 2,700 points over three months and if their branch also reaches its three-monthly target. Staff earn 30 points if they sell a customer a personal loan of between £3,000 and £4,999, but they earn 90 points if the loan is sold with payment protection insurance - the controversial cover that is supposed to pay out if a borrower loses their income.

 

I was not aware of this and even if it is untrue, I consider that there was a clear conflict of interest between your fiduciary responsibilities to me and the direct selling by your employees of PPI schemes, given the very large profit margins they generate.

 

When I took the loan/loans with your company, I was not offered a full and detailed explanation of payment protection insurance and was led to believe by your company/representative that it was part of the conditions of the loan. I have thought that for the last five years and more. It has only become apparent to me after the recent coverage by the media, and following the recent OFT and FSA investigations regarding the mis-selling of ppi by finance companies.. This is when I requested the Subject Access Request of the 14th January 2007.

Regarding the loans with the ppi applied, I believe I that I have been gravely mis-led by your company at a time when I was facing financial difficulties and have been mis-sold this expensive insurances that I did not need or want.. At the time of this application I was in full-time employment with no risk of redundancy ,a fully paid salary for 6months of sickness, had a generous life insurance and critical illness insurance policies.

 

No attempt was made to ascertain if the product provided was fit for purpose, suitable for my needs or if indeed it at all. No inquiry was made as whether I had pre-existing insurance for accident, illness or unemployment. I was not given a copy of the insurance policy nor were any rights to cancel explained. I believe you manifestly failed in your fiduciary responsibilities, your duty of care.

 

Secondly, I understand under the Consumer Credit Acts and following a House of Lords judgment, that you are not allowed to make a loan conditional on taking PPI unless you include the costs of PPI as part of the charge for credit and not the credit itself.

 

You did not do this. You added it to the total for credit and then charged me further interest on the premium on top of the interest for the loan. This is unacceptable.

 

Finally I believe insurance contracts are contracts uberrimae fidei (contracts of the utmost good faith) which imposes on you a “duty of disclosure of all material facts because one party is in a strong position to know the truth.” Inter alia, I believe that you should have disclosed to me that the type of policy you sold me, a single payment premium, did not give a pro-rata refund in event of early settlement. I believe you should have made it clear to me that the policy generated large profits for you. You failed to do this. I believe that you have also therefore failed in your duty of disclosure. Your failure to disclose is misrepresentation at common law.

 

What I require

 

Your concealment of the act of mis-selling has prevented me from asserting my right until now. I believe that there are strong grounds for action against you under common law, statute and consumer regulations.

 

The original premium was £xxxxx added to the loan amount on the 4th April 2001. I presume that interest at 8.9% was added to this amount.(unless you can inform me otherwise). Interest £zzzzz Total amount £xxxxxx. The Statutory 8% interest (S69 of the County Court Act) allowed by the Courts will amount to £xxxxxx Making the total amount payable at the Court Stage £xxxxxx.

 

My targets to resolve this matter

I am writing to ask you to refund the premium paid together with interest equal to your APR at the time under the accepted principle of mutuality and reciprocity.

I hope that you will enter into a sincere dialogue with me about this matter and I am writing this letter to you on the assumption that you will prefer to do this than merely respond with standard letters and leaflets. I will give you 14 days to reply to me accepting, unconditionally, my request in principle and letting me know a date by which I will receive this payment.

 

If you do not respond, or you do not respond positively, within this time period, I shall send you a letter before action giving you a further 14 days in which to reflect. I believe that this time frame is sufficient for a large company such as yours with its dedicated staff and departments. After that, there will be no further communication from me and I shall issue a claim at the expiry of the second deadline.

 

Yours faithfully,

[wheresmyhairgone]

Hi all

i sent my prelim letter for ppi on 8th march. I received a letter today from lloyds stating they have received my complaint and saying they will give the results of thier enquiry in 4 weeks. they have also enclosed a "voicing your concerns" document.

 

I also sent a prelim letter to lloyds for bank charges on the 8th march.

 

the letter came from: Andover Service

Recovery Centre

Charlton place

Andover

Hampshire

SP10 1RE

 

My problem is, i don,t know which claim this letter is revering too( ppi or charges) can anyone tell from the address or should i send the lba letters for both claims to the Andover address.

 

thanks

[hellhasnofury]

Hi all

i sent my prelim letter for ppi on 8th march. I received a letter today from lloyds stating they have received my complaint and saying they will give the results of thier enquiry in 4 weeks. they have also enclosed a "voicing your concerns" document.

 

I also sent a prelim letter to lloyds for bank charges on the 8th march.

 

the letter came from: Andover Service

Recovery Centre

Charlton place

Andover

Hampshire

SP10 1RE

 

My problem is, i don,t know which claim this letter is revering too( ppi or charges) can anyone tell from the address or should i send the lba letters for both claims to the Andover address.

 

thanks

 

Hello, just carry on with your timescales not theirs

[wheresmyhairgone]

Hi

Yes i will be but is that address for my ppi claim or my charges claim. is that the address for all claims?

[hellhasnofury]

Hi

Yes i will be but is that address for my ppi claim or my charges claim. is that the address for all claims?

 

Ok keep your hair on:lol: Intended joke

 

What a DORK am I. I have just realised what you were asking. I don't know. But would presumme that all complaints go to Customer Relations Department

Livelylad has posted this address on the lloyds bank charges forum to send prelim letter and lba's

Customer Care

Lloyds TSB

125 Colmore Row

Birmingham

B3 3SF

Sorry I don't know is this helps or just confuses the issure further

Maybe give a ring

[wheresmyhairgone]

sorry hell didn,t mean to be blunt. i just wondered if anyone else was familiar with the andover address. i didn,t send either of my prelims to it. and just wondered which claim they were talking about.

[Keith22]

Hi,

 

BLRI is Business Loan Repayment Insuance from Lloydstsb and is the business version of PPI. The terms and conditions are on the LloydsTSB wesite somewhere (don't have the link at the moment). I successfully reclaimed two refunds for these. I first wrote the stndarad letters asking for repayment of premiums and interest initially to my business manager. This escalated up to the area manager and eventually I had a final response from Customer Services at Bristol. I then took my complaint to the FOS alledging that the two policies had been missold to me and also that the terms and conditions should be disregarded as I accepted the policies on the advice of a Financial Services Professional (i.e. my business manager at the time) and he had not , as he was supposed to do, explained then fully to me. I won both cases with no probelms.

 

I hope this helps

[wheresmyhairgone]

Hi

I,m just about to send my LBA letter for my ppi claim. I,m not very good at writing letters, can anyone point me to an LBA letter that i could copy and paste and change for my own use?

 

thanks

[hellhasnofury]

Hi

I,m just about to send my LBA letter for my ppi claim. I,m not very good at writing letters, can anyone point me to an LBA letter that i could copy and paste and change for my own use?

 

thanks

 

Hiya baldy,

 

What did you say in your prelim, I would basically sent the same letter but amend and add

 

I personally would start it saying I am extremey knaffed off (edit that) disappointed that your have not responded to my request for repayment of mis-sold pppi.blah blah

 

Athe end I would state that you are now giving them 14days to reflect your request, there will no further communication from yourselve and you will submit a county claim against them

 

Have a look at my first prelim letter for ideas of what to say, I don't know what you said in your prelim.

 

You can post it on the site or PM for comment.

[wheresmyhairgone]

Thanks little house in manc country. I probably copied your prelim lol

[hellhasnofury]

Thanks little house in manc country. I probably copied your prelim lol

 

Cheeky bleeder:lol:

 

Your more than welcome:-D

[wheresmyhairgone]

Hi Everybody

need some advice please. i sent a LBA letter to lloyds. recieved a answer from them it states:

 

Dear Wheresmyhairgine

Thank you for getting in touch with us. I am sorry you are unhappy about your account charges.

 

blah blah

 

The Office of Fair Trading has published new guidelines on credit card default charges. We,re still talking it through with them, but the important point is that the guidelines are about "default" charges that people pay when they break an agreement with us. This doesn,t apply to your charges as these were for dealing with your request to go over your agreed overdraft limit. They are our prices for the service we provide in these situations.

 

I,ve noticed you referred to the Unfair Contracts Terms Act 1977 and the Unfair Terms in Consumer Contracts Regulations but these don,t apply to you as your,re a business customer and these acts and regulations only apply to consumers.

 

blah blah

 

Yours sincerely

 

Alan Lillywhite

 

Do i just ignore this letter and carry on with the court summons?

[wheresmyhairgone]

ignore my last thread i have read through a few of the other threads and it seems that it is a standard get stuffed letter.

 

next step court

[curlychic]

Definately standard 'tosh' ... lol

Proceed with Court action.

Good luck, keep us all posted and as soon as you have been issued a Claim number be sure to PM a mod with your claim details to be added to the litigation section.

 

http://www.consumeractiongroup.co.uk/forum/lloyds-bank/88776-we-need-your-litigation.html

 

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