Lloyds PPI claim 2007

[di30]

Re: Lloyds PPI claim 2007

Hiya

Personally, I think its a good letter. Well done.

Hopefully others will be along soon to give an opinion as well.

Fingers crossed for you x

[ferrotty]

Re: Lloyds PPI claim 2007

Anyone before I send letter this morning

[Bill-K]

Re: Lloyds PPI claim 2007

Sorry, I missed your deadline, guv'nor. Caught me short - real life takes real time, I'm afraid.

Personally, I wouldn't have given them any specific amounts just yet, but that's a minor gripe. Looks good to me, so let's see what gives...

[ferrotty]

Re: Lloyds PPI claim 2007

No problem I understand,one way or another I'm going to get them.

[leclerc]

Re: Lloyds PPI claim 2007

I'm going to try a letter to Lloyds on the bank charges any suggestions welcomed before I send it off thanks.


Apologies but normally I wander by PPI threads but having been successful for some family members I thought I would look into this one. I wished I had seen the letter but as I did not I can at least suggest where they are going on their response.



27th February 2012

Lloyds TSB Bank Plc
25 Gresham Street
London
EC2V 7HN

Dear Sir or Madam,

Account No ********


I am writing to request that you repay all the charges in relation to direct debits, unauthorised overdrafts and standing orders that have been applied to my account in the past six years.

I believe the fact that I have been incurring bank charges goes contrary to the aims of the Lending Code (Section 9)Section 9 is financial hardship and it does not say that you can not be charged but were you proactive at the time you incurred them informing them of your hardship? and Banking Conduct of Business Sourcebook (section 5.1.4 ‘in particular, a firm should deal fairly with a banking customer whom it has reason to believe is in financial difficulty’).Did you inform them of this fact? Did they ever respond? What actions did they take and what actions did you take?

Also Under the Unfair Terms in Consumer Contracts Regulations 1999 charges must reflect administration costs and cannot be punitive. I believe that the charges are unlawful as they do not reflect the true cost of going into an unauthorised overdraft.
UTCCR 1999 has been fought in the court and the punitive argument of bank charges are not arguable. The charges are for consideration of whether to pay/not pay an item or to increase or not an overdraft. That is in OFT vs. Abbey et al(judement was November 2009)
My personal situation has been affected by the charges leaving me in financial hardship and I am writing to request that you take the following grounds into consideration


• I can’t pay my debts and have recently reclaimed PPI from you that were mis-sold to me, these extra premiums being one of the reasons why I could not serve my debt.

• My Income has been eaten by charges some £1800 in one year alone (2008) starting within 3 months of the loan I took out from you.
It is not the cumulative effect of the charges but the focus should be on the month by month effect and the reasons why the account got into difficulty, ie lost job, less overtime, new baby in the household. Then the effect of charges had on the monthly income for being able to pay them. A yearly perspective does not necessarily mean financial hardship.
• Payments regularly returned due initially to the excessive charges levied on my account these charges were disproportionate to the debt I owed and were directly responsible for my spiral into debt.
In the context of bank charges, this point is usually irrelevant now because you have stated that it was 2008 that the period of hardship was in contention.
• I have been constantly over my overdraft limit and you gave me no assistance when the high charges were being levied’, these charges have contributed to making my financial hardship situation materially worse; I do though acknowledge that you occasionally waved charges and Increased my overdraft but this was too little to late.
The last bit you have said and I will put in in bold could be argued that they did do what they are required to do under financial hardship and the lending code albeit the code was not in operation in 2008. Increasing the overdraft does not sound like the case was a severe case of financial hardship.
• I had been stuck in a cycle of charges and not being able to clear them before new daily or monthly fees and returned direct debits are added on top.
• I have over the time built up various debts with family and friends trying to help me but at least the award for mis-sold PPI has gone some way to paying my debts down along with the still outstanding money owed to the credit agency but it still leaves me in debt.
Unfortunately when family and friends lend money to you it removes a certain element of financial hardship. How are they to know you are in hardship if you are getting "loans" so to speak to help you.
The charges total £2636 in unplanned overdraft fees plus £780 in returned Direct Debits and I ask that you repay me the full amount.
They will not repay it but they might look at how they dealt with you but there are several points in the letter that they will probably come back to you with(I have said those points)
Plus as I believe I have been unfairly deprived of the money and I ask that interest at the statutory rate, the amount a court would award and I ask that this be added to my claim.

I have attached a full schedule of the charges with this document.

I look forward to a full response to this letter within 14 days and if I do not receive a satisfactory response I intend to pursue my complaint to the Financial Ombudsman Service or small claims court with supporting docs and letters from myself under the financial hardship criteria at the earliest opportunity.
If you go to the smalls claims court then you will lose and if you go to the FOS then you will lose. Rather than a schedule of charges why did you not send them an income and expenditure form showing your financial hardship? Why not send them evidence of the hardship? If you have simply sent them a schedule of charges then expect a 100% no.
Yours faithfully,

Apologies for the later arrival(I think you need to remove your name from the letter which I will do on my quoted post.

[ferrotty]

Re: Lloyds PPI claim 2007

How do I edit my post?

[leclerc]

Re: Lloyds PPI claim 2007

How do I edit my post?

there is only a short period of time that you can edit a post already made. If you need to remove details then send a private message to either Saphire, Celestine, or Curlyben from site team and they can do that otherwise hit the orange triangle in the corner of the post which is to report the post if you need the name removed from the post

[ferrotty]

Re: Lloyds PPI claim 2007

I see curlyben has sorted it many thanks.

[ferrotty]

Re: Lloyds PPI claim 2007

Just had a letter back of Lloyds TSB offering £515 refund in charges since March 2011 waving another £10 due ,a small victory but don't know if I would be pushing my luck to try and get a higher offer what are your thoughts.

[Bill-K]

Re: Lloyds PPI claim 2007

Sorry for the delay, Ferrotty. Got a bit sidetracked - as yer do in here !!!
Personally, I would say you're due a lot more than that, but it really does depend on the account balances. The charges claim appears to have a potential quantum of around £5K, so they are offering you little more than 10 % of this.

It is, however, not an easy job to work this out, so it will need a bit more work from you, if you'r up for it. The first thing we need to remember is that when a DD 'bounces' (for example), it is the balance of the account immediately BEFORE it is bounced that determines if it bounces. So, we need to add in a lot of extra lines to account for this. SO - the first thing we need to do is get you to add those lines to your spreadsheet, and describe each 'event.'

Next thing, which is probably best done at the same time, is to enter on each line the account balance IMMEDIATELY AFTER each 'event.' I've taken your spready and added an extra column for the 'end balance.' But you will have to add lines for each 'event,' and add descriptions. Also, we need to know the Unauthorised O/D threshold for each line. If you can do this with the spready I've attached here, and then re-post it, we'll be close to getting an accurate idea of this claim amount. From what I can see, these 'events' are all returned DD's, in which case we don't have to individually name each of the penalty charges.

I have a spreadsheet here, which is ready to 'bolt on' to your one, and will read the figures from it. I should then be able to identify which charges and penalties would not have been made if the PPI were not being charged.

If you are able to put these figures in, then we will have a better idea of how many of the charges would not have been made if the PPI were not being paid. I strongly suspect that this will be considerably more than the £515 you've been offered.

[ferrotty]

Re: Lloyds PPI claim 2007

Thanks BILL-K I am a bit short on time over the next few days so I will try and work it out as soon as I can and repost thanks.

[Bill-K]

Re: Lloyds PPI claim 2007

That's good. Yeah, it'll take a little time - but it's best done when you're not rushed. If there's a time-limit on the offer, then maybe write to them and tell them you are taking advice in order that you can evaluate it properly, and with the respect it deserves.

LOL - I ALMOST said 'contempt' !!!