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Hi, hope someone can help me. I had 3 loans with lloyds and initially was rejected. Sent away for SAR request and was given information on all 3 loans.
Loan 1: only dates from 1994 and loan number was all I was given from SAR.
Loan 2: in 1995 was for 1000 over 18 months for a loan amount of £1000. Monthly payments £225. With PLPI
loan 2: in 1997 for £2530 X 60 months refinance existing loan. Monthly payment £200 with PLPI.
I first complained to lloyds however they rejected my claim. I then took this complaint to the ombusman. To cut a long story short this was 2 years ago. I received a letter from ombusman about 6 weeks ago confirming to me that lloyds have upheld my complaint and I should here from them with a offer within the next 8 weeks. I can now say lloyds have made me my offer however I am very confused. For example, loan 1 I have no memory of the loan amount or the monthly premiums. This is how they sent me the calculation for this loan.
Your PPI Policy;
A. The original cost of the Ppi £53.10
B. number of monthly payments agreed - 12
C. number of monthly repayments made - 12
what you have paid;
D. How much you have paid in monthly premiums £53.10
E. The interest applied to the premiums paid £5.91
F. Total cost of your policy (D+E) £59.01
Refund due:
L. Refund: total cost of your policy less price for comparative regular premium policy plus total adjustments relevant to you (F-G+K) £59.01
rather than type the whole letter I am only providing each alphabet that has a amount next to them. As letters G,H,I,J , K all have a £ -
Refund due including interest;
L. Refund due £59.01
M. Gross compensatory interest per annum on refund (row L) due £99.55
N. Less basic rate tax to be withheld on compensatory interest (row M) £19.91
O. Net refund due £138.65
my other 2 loans I won't include at this moment because I cannot understand that either?
I contacted lloyds as per letter requesting to contact them if I had any queries. I did phone and spoke to a adviser. I wanted firstly to explain where these figures came from. Was told the usual as per letter also that it coincides with the FOS guidelines. I explained I understood that but wanted to know how they managed to give me a Ppi on a loan that I had no amounts for Loan 1. felt like I was being put on hold all the time and probably inexperienced that they were being told what to say. Anyway she suggested that I can request a breakdown on all 3 loans. The amount of loan, the amount of Ppi paid per month, and amount paid towards loan. Etc. Today I received a letter saying, in regards to your request for further calculations on your redress awarded on your loan accounts, please be advised the only calculations we can provide are detailed within the appendix of our letter dated X X X.
i trust this answers your concerns. Then it goes on to tell me i can take it to ombusman etc.
My my queries are, how can they make a calculation based on information they cannot provide me? I don't even want to mention the other 2 loans unless someone was willing to make it clear for me. I have contacted the ombusman and they are reopening my case however it would not start all over again taking into consideration how long the complaint has been in place.
Has as anyone ever came up with a similar experience? Any help would be great thank you.
Loan 1: only dates from 1994 and loan number was all I was given from SAR.
Loan 2: in 1995 was for 1000 over 18 months for a loan amount of £1000. Monthly payments £225. With PLPI
loan 2: in 1997 for £2530 X 60 months refinance existing loan. Monthly payment £200 with PLPI.
I first complained to lloyds however they rejected my claim. I then took this complaint to the ombusman. To cut a long story short this was 2 years ago. I received a letter from ombusman about 6 weeks ago confirming to me that lloyds have upheld my complaint and I should here from them with a offer within the next 8 weeks. I can now say lloyds have made me my offer however I am very confused. For example, loan 1 I have no memory of the loan amount or the monthly premiums. This is how they sent me the calculation for this loan.
Your PPI Policy;
A. The original cost of the Ppi £53.10
B. number of monthly payments agreed - 12
C. number of monthly repayments made - 12
what you have paid;
D. How much you have paid in monthly premiums £53.10
E. The interest applied to the premiums paid £5.91
F. Total cost of your policy (D+E) £59.01
Refund due:
L. Refund: total cost of your policy less price for comparative regular premium policy plus total adjustments relevant to you (F-G+K) £59.01
rather than type the whole letter I am only providing each alphabet that has a amount next to them. As letters G,H,I,J , K all have a £ -
Refund due including interest;
L. Refund due £59.01
M. Gross compensatory interest per annum on refund (row L) due £99.55
N. Less basic rate tax to be withheld on compensatory interest (row M) £19.91
O. Net refund due £138.65
my other 2 loans I won't include at this moment because I cannot understand that either?
I contacted lloyds as per letter requesting to contact them if I had any queries. I did phone and spoke to a adviser. I wanted firstly to explain where these figures came from. Was told the usual as per letter also that it coincides with the FOS guidelines. I explained I understood that but wanted to know how they managed to give me a Ppi on a loan that I had no amounts for Loan 1. felt like I was being put on hold all the time and probably inexperienced that they were being told what to say. Anyway she suggested that I can request a breakdown on all 3 loans. The amount of loan, the amount of Ppi paid per month, and amount paid towards loan. Etc. Today I received a letter saying, in regards to your request for further calculations on your redress awarded on your loan accounts, please be advised the only calculations we can provide are detailed within the appendix of our letter dated X X X.
i trust this answers your concerns. Then it goes on to tell me i can take it to ombusman etc.
My my queries are, how can they make a calculation based on information they cannot provide me? I don't even want to mention the other 2 loans unless someone was willing to make it clear for me. I have contacted the ombusman and they are reopening my case however it would not start all over again taking into consideration how long the complaint has been in place.
Has as anyone ever came up with a similar experience? Any help would be great thank you.
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