Lloyds PPI claim 2007

[ferrotty]

Re: Lloyds PPI claim 2007

Which Debt Collection Agency is chasing your son? BLS (Black Lion Street) Capquest??

My initial advice would be to contact this DCA stating that the debt is in dispute due to misselling of PPI.

However I would advise your son to try and keep up some sort of payments to the loan to avoid being defaulted....if he hasn't already? Check his Credit reference file to be sure.

Its called Credit Security Ltd

He has not defaulted yet,it says be instructed to call upon you via DOORSTOP COLLECTOR, if no payment then LEGAL ACTION.

[ferrotty]

Re: Lloyds PPI claim 2007

I am going to get my son to open a co-op cashminder Account(I'm also with the co-op ie smile)and get his wages paid into this,how do we go about the lloyds account which is now in overdraft to about £500,how do we stop them continually charging him.

[EXC]

Re: Lloyds PPI claim 2007

I would read section 9 of the Lending Code (to which Lloyds subscribes) which deals with 'financial difficulties'.

http://www.lendingstandardsboard.org...endingcode.pdf

I suggest that that you ask Lloyds to consider freezing the interest and charges quoting paragraph 224 of the code:



''Subscribers should consider reducing or stopping interest and charges when a customer evidences that they are in financial difficulties. Such reduction/suspension decision should be based upon an income and expenditure statement indicating that they are unable to make repayments sufficient to meet contractual terms. Where a customer is able to make only token payments, their debt should not increase as a result of interest and charges levied. The assessment should reflect the customer’s lack of ability to pay rather than the stage an account has reached in the arrears cycle or whether they are using free sources of debt advice. Where a firm declines to allow concessions, they should be prepared to explain why to the customer or their adviser if requested to do so.''

[ferrotty]

Re: Lloyds PPI claim 2007

I would read section 9 of the Lending Code (to which Lloyds subscribes) which deals with 'financial difficulties'.

http://www.lendingstandardsboard.org...endingcode.pdf

I suggest that that you ask Lloyds to consider freezing the interest and charges quoting paragraph 224 of the code:



''Subscribers should consider reducing or stopping interest and charges when a customer evidences that they are in financial difficulties. Such reduction/suspension decision should be based upon an income and expenditure statement indicating that they are unable to make repayments sufficient to meet contractual terms. Where a customer is able to make only token payments, their debt should not increase as a result of interest and charges levied. The assessment should reflect the customer’s lack of ability to pay rather than the stage an account has reached in the arrears cycle or whether they are using free sources of debt advice. Where a firm declines to allow concessions, they should be prepared to explain why to the customer or their adviser if requested to do so.''

Thanks for that,can some one point me in thg right direction for the SAR letter,I thought I had printed it off but not sure if it is the right one.

[ferrotty]

Re: Lloyds PPI claim 2007

Is the letter below a suitable one for a PPI claim bearing in mind he cannot remember hardly anything about the loan conversation and the PPI element.



Dear Sir/Madam

Re: Loan Account No 100083830081

I have been looking at my agreement with you, reference above and have noted that I purchased Payment Protection Insurance from you.

I am now of the belief that I was mis-sold this policy because I do not believe that my policy was sold in my best interests and I never asked for it in the first place, I have become aware that you have been fined by the FSA for failing to treat your customers fairly when selling Payment Protection Insurance and having recently looked at the paperwork for my loan I now realize that I have been paying for insurance at a much bigger premium payment than I thought, if the person that I had contact with had explained to me that the Insurance payment is a lump sum with added interest over the term and that the Insurance comes to nearly 50% of loan after interest added on I would never have taken the PPI Insurance protection out, also Just to make you aware that all the contact was done over the phone.

Also I have been unable to keep up payments for this loan and that further changes to this loan have been made to assist me but I have been unable to continue making these payments due to the fact of all the charges to my account and I have never been able to get myself in a suitable financial position because of said charges and the PPI Insurance.

I will be requesting all my statements to my bank Account since I took out this loan



What I expect from you is justification that the policy was suitable for me based on my circumstances and an explanation as to how your suitability criteria works. If you cannot justify this to my satisfaction I request a full refund of all premiums paid to date as well as interest on these payments.
As I believe I have been deprived of this money I also expect an interest element to be added to each sum, at a suitable rate and using a suitable calculation method, as a compensatory gesture.

In respect of cancellation of a policy may I draw your attention to the following reports from the FSA, namely, 'The sale of payment protection insurance - results of thematic work, November 2005' & 'The Sale of Payment Protection Insurance - results of follow-up thematic work, October 2006'' that state "When consumers cancel the PPI without repaying the loan, some firms will need to reissue the loan without the PPI. Firms should ensure they treat their customers fairly in relation to the terms on which they reissue the loan.” This means that any new loan is on the same or better terms and does not detriment me in any way and that this is to be done without making a new search on my credit file

I expect a swift response to this letter within 14 days, containing either your full justification or notice that you will be refunding these payments.

If I do not receive a satisfactory response I will issue another letter notifying you of my intention to take further action if the matter is not resolved within a further 14 days. After this limit has passed I will be either contacting the Financial Ombudsman to investigate my complaint or issuing court proceedings.

Yours faithfully,

[EXC]

Re: Lloyds PPI claim 2007

Is the letter below a suitable one for a PPI claim bearing in mind he cannot remember hardly anything about the loan conversation and the PPI element.

In think you'd be better off not making your complaint by way of a letter but by using the FOS Consumer Questionnaire you can download from here online PPI resource

As for the SAR here's an example Legal Beagles Consumer Forum

Unless anyone knows of a better SAR template here?

[ferrotty]

Re: Lloyds PPI claim 2007

In think you'd be better off not making your complaint by way of a letter but by using the FOS Consumer Questionnaire you can download from here online PPI resource

As for the SAR here's an example Legal Beagles Consumer Forum

Unless anyone knows of a better SAR template here?

Many thanks EXC I will take your advice and send off the questionaire,and thanks for the SAR link.

[Turboman]

Re: Lloyds PPI claim 2007

and heres a more comprehensive one ( from Amethysts last post in Exc 's Link)

Tools v MBNA ** SETTLED** - Legal Beagles Consumer Forum


and in post 12 -Di posted the link which gives you the address of where to send the questionairre

[ferrotty]

Re: Lloyds PPI claim 2007

and heres a more comprehensive one ( from Amethysts last post in Exc 's Link)

Tools v MBNA ** SETTLED** - Legal Beagles Consumer Forum


and in post 12 -Di posted the link which gives you the address of where to send the questionairre

Thanks and what a great thread,I was giggling to myself.

[ferrotty]

Re: Lloyds PPI claim 2007

Doh,I have sent the SAR letter off and not enclosed the cheque

[Celestine]

Re: Lloyds PPI claim 2007

Ahhhhh....might want to resend that then!

[di30]

Re: Lloyds PPI claim 2007

Hi

As Cel said, you will have to re-send.

It's unlikely they will forward you any of the details of the account without the payment, so send another and enclose the cheque of the required amount, they have 40 calendar days to comply.
Also post by recorded delivery, I expect you know it's best this way.
Good luck.

[ferrotty]

Re: Lloyds PPI claim 2007

I will send off questionaire and for the SAR stuff and copy statements but how would I go about trying to claim back all the charges on his account since loan was taken out.

[di30]

Re: Lloyds PPI claim 2007

Hi

I don't know a great deal in regards of the charges as such, but as you know, keep this separate from the PPI reclaiming as its a different matter.

Below is a link posted by Leclerc which may be of some help for now and hopefully one of the guys will be here to advise shortly.

A SAR will help in these cases as well as the PPI reclaiming, because statements of the bank charges should also be enclosed.

http://www.legalbeagles.info/forums/...ad.php?t=13476

[ferrotty]

Re: Lloyds PPI claim 2007

Ahhhhh....might want to resend that then!

Well they sent me a prepaid envelope,very nice of them.