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Hi, I really hope someone can help me??? I have made a claim for a misselling of 3 PPI policies with lloyds. A few weeks back I was given a offer. I didn't understand the calculations and because this claim was already with the ombudsman they checked the calculations with lloyds. To cut a long story short I have accepted the offer. However, my offer from lloyds included a rejected PPI form to be filled in and returned. After speaking with an adjudicator this morning I found out that this form is If I have made a claim in the past on my loans, which I did. I was rejected in 1998 when I lost my job because I was claiming income support and not job seekers allowance. This form I have to fill in states that they will review my case and if the value after assessment is greater than the offer already given they will give me the greater amount. My question is, has anyone ever done this or heard any similar cases. Any help would be greatly appreciated. I can answer any questions if this helps.
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Re: Help with ppi claim
So you made a claim on a PPI policy some time ago which was rejected and now being reviewed and if accepted they will take it into account in respect of the compensation for 3 PPI mis-selling claims?
How many mis-selling claims are they upholding and is the policy you unsuccessfully claimed on one of them? -
Re: Help with ppi claim
.Originally posted by EXC View Post
All 3 loans. The last loan I made a claim in 1998 when I lost my job. They rejected this claim because I was claiming income support and not job seekers allowance. This loan ended up statue barred as I continued to make payments for over a year but struggled at the end only to accrue charges. The loan was fit £2530 at £200 per month X 60 months. I only managed 34 months of payment.Comment
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Re: Help with ppi claim
So you defaulted on the loan and they're taking the sum owed into account in respect of your PPI compensation? That would be their right to set it off, even if it's stat barred I believe.Comment
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Re: Help with ppi claim
Sorry, not quite grasped on responding to each comment yet. Lloyds have agreed that all loans had been missold pip on them. I received my cheque a few days after their offer. However in the decision letter from lloyds there was a "claim rejected form" I spoke to the adjudicator who was dealing with my case at the ombudsman. She said that I should fill in the form with the details of my rejected claim in 1998. As this is a seperate case and because the form also states that they will assess my new information and if it adds up to more than the offer amount they will honor the greater amount. Just never came across anything like this before on any sites.
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Sorry, no they are not offsetting anything against the outstanding debt.Originally posted by EXC View PostComment
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Re: Help with ppi claim
Ok.
So if you are saying that if the amount of the original claim on the insurance turned out to be more than you got in PPI compensation on that policy they'll pay the higher amount, I'd say that was fair enough.and if it adds up to more than the offer amount they will honor the greater amount.Comment
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Re: Help with ppi claim
see that's the part am confused about??? When I read the letter to the adjudicator this morning. She advised that there was no harm in trying and if unsuccessful they will take over the case. When I received the offer letter with the rejected claim form attached I asked the advisor from lloyds what was this form was for? She explained that I could receive more money if I made a claim and was rejected. Think this comes under some clause in the ombudsman regulations, I cannot remember what clause that was. this information is new to me as I said I've not seen this before in any other forum.Originally posted by EXC View PostComment
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Re: Help with ppi claim
Normally if you put in a PPI mis-selling claim on a policy that you'd previously claimed the insurance on they would deduct the amount from the compensation, so the principle is not unusual. You've not got anything to lose so I'd go with it.Comment
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Re: Help with ppi claim
i have a question if you could answer it for me. If I had made a ppi claim on my policy and it was successful how long would the ppi cover my loan? Was time limited or did they cover you until loan was paid?Originally posted by EXC View PostComment
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Re: Help with ppi claim
It depends on what type of loan it was and how the PPI was applied to it.
Either you paid the PPI in installments usually for the duration of the loan or you paid 'single premium' PPI which means you borrow the cost of the PPI and it's added to your loan amount and repayments and it's this type of PPI where the cover often expires before the load is repaid in full.Comment
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Re: Help with ppi claim
The ppi was added to my policy and I paid it in monthly instalments along with loan amount.
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the ppi was added to my policy and I paid monthly instalments along with loan amount.Originally posted by EXC View Post
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it was a FIL loanOriginally posted by Jinty68 View PostComment
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Re: Help with ppi claim
You mean the PPI premiums were added to your loan? Did you pay the PPI premiums seperately or were they included in your loan repayments?the ppi was added to my policy and I paid monthly instalments along with loan amount.Comment
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Re: Help with ppi claim
Well that'll be single premium.Comment
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