PPI Recovery

[overmyhead51]

Hi all,
I'm new to the site having stumbled across it while investigating PPI recovery. I have had two personal loans from Lloyds TSB, one in 2003 and the other in 2007. In both cases I declined PPI as I was firstly a student and then self employed. Recently a recovery company phoned me and advised that the bank could have added the PPI without my knowledge, hiding it in the APR, and I had a right to claim. I realise there was an element of touting for business, and there are plenty of unscrupulous companies capitalising on this, however, has this practice really been going on? And if so what is the safest way to proceed. The company that approached me want 25% of the recovered amount. I wouldn't say I'm financially savvy, but alarm bells are ringing!

[Angry Cat]

Re: PPI Recovery

Naughty, Naughty!

If the bank applied PPI without your knowledge, the making of a subject access request would reveal as to whether this was the case.

Your really do not need to employ a CMC, in order to re-claim PPI.

[Turboman]

Re: PPI Recovery

Hi

The first thing to emphasise is that you do not need a claims company to act for you taking 25%----most probabably with a risky payment upfront.


This site is quite capable of guiding you through the steps neccesssary

• to establishish if in fact you did have PPI added to your loan
• to help you through any mis-selling claim request if in fact you think you were mis-sold PPI
• to help you interpret any correspondence received from the lender or the FOS
• to project any sums due because of mis-selling & to check any offers accordingly

The first thing to understand is the lender cannot hide PPI "in the APR" as suggested in your cold call

It must be detailed on the original agreement, so the first thing to establish is if you have the following information

• the original "Agreements" for the 2 loans
• the summary statements issued by the lender throughout the loan and at its termination

If so,please scan, edit out your personal details and post up the agreements on here using the "Manage Attachments" option at the bottom of the "post screen"

If you do not have anything, then you need to send them a Subject Access Request to obtain the information