Lloyds ppi business loan mis selling whatever next !

[di30]

Re: Lloyds ppi business loan mis selling whatever next !

Good point, Di. Whether it was totally or partially unsuitable is irrelevant - if you were paying the full price, then it should be FULLY suitable.

It would seem, from the link that Tuttsi posted in the CEO thread, that these are the 'BUSINESS' email addresses for the CEO's, and NOT their private email addresses. As such, they are public knowledge, as the businesses are public businesses (plc 's, etc...) - The banks just don't want too many peeps to know about them !!! :director:

Yes that is correct Bill. And like packaged bank accounts, all this has come about now too, so another matter we shall be looking into as well on here shortly lol.

And exactly Bill, they are not private emails of the CEO's are enclosed for our purposes. LOL!

[di30]

Re: Lloyds ppi business loan mis selling whatever next !

With the finance director, I am wondering if he will be the guy to contact in relation of any errors of calculations? that is what I am assuming anyway lol.

[Bill-K]

Re: Lloyds ppi business loan mis selling whatever next !

...like packaged bank accounts, all this has come about now too, so another matter we shall be looking into as well on here shortly lol.

Indeed, Di - it's the same principle, isn't it ? I daresay we'll be getting some packaged accounts claims eventually, but hopefully that scam has been nipped in the bud.

With the finance director, I am wondering if he will be the guy to contact in relation of any errors of calculations? that is what I am assuming anyway lol.

Possibly, but I would be inclined to hit the CEO first - and then leave it to him/her to delegate as necessary.

[di30]

Re: Lloyds ppi business loan mis selling whatever next !

If I was to email Customer Services now (As I would probably do this to start on a new case) I would always copy in the CEO.

But as said in another post, as in the past I have emailed Customer service alone, and given them a few days to respond, from then on I emailed the CEO as the main contact then copied in to the Customer Service, so at least they are aware that we have been in touch with the CEO, so that we receive a quicker response.

I believe since the Judical review matter, many have turned to the CEO, as you said earlier Bill, simply because of the time it's taken for any customers to receive a response. It's like a main contact now.

[di30]

Re: Lloyds ppi business loan mis selling whatever next !

Indeed, Di - it's the same principle, isn't it ? I daresay we'll be getting some packaged accounts claims eventually, but hopefully that scam has been nipped in the bud.Possibly, but I would be inclined to hit the CEO first - and then leave it to him/her to delegate as necessary.

Lol, well going to mis sold packaged accounts, I am actually currently dealing with a matter now, I shall let you know how I get on. £300 a year on a packaged account where i was already fully covered in those products.

Oh yes definately contact the CEO first for sure, as the main man lol.

[DAISYC3CJS]

Re: Lloyds ppi business loan mis selling whatever next !

lol Thanks again both for your helpful comments yet again, yes the link I had for the CEO's just gave names/addresses/email - the addresses were the Head Office addresses and not their home ones lol.

Re: Lloyds TSB I have just telephoned and they have confirmed that The Chairman is Sir Win Bischoff and that the CEO is Antonio, so without further do, I shall now change my letter slightly and address it to Sir Win as in the past I have always addressed my complaint letters to the Chairman. Let's hope Sir Win lives up to his name and that I win, lol.

I will sort out the template letter a little later, am quite happy for others to pull it apart but I'm sure you will agree we all have our different styles of writing lol. Actually I was very tempted to start mine off by saying something like......... I find myself sitting at my computer on a beautiful hot summers day and can really think of others things I should be doing and enjoying etc., etc., lol

[DAISYC3CJS]

Re: Lloyds ppi business loan mis selling whatever next !

I don't think I would bother with emailing customer services, well for my part anyway, it would involve far too many attachments and who knows it could go straight to their spam folder, but I would be interested to know if emails do actually get read.

[DAISYC3CJS]

Re: Lloyds ppi business loan mis selling whatever next !

Just a quick update for you. I remembered I had a note on file that I should hear from Lloyds re: my credit card ppi by 21st August. Having not heard anything I phoned yesterday and was told a letter had been sent out to me on 16th August second class and these normally take 7/10 days to arrive and if I had not received this by the end of next week to call them again. However, I was then asked if I would like the letter read out to me! I said yes and surprise, surprise, it was an offer letter! Well I then had to pick myself up off the floor. As I think I might have said previously I was expecting a rejection letter, having had my business loan ppi rejected so this was a complete surprise as you can imagine! However, the letter has not arrived yet although I was told I could accept the offer over the phone, but I prefer to have the letter in my sticky little paws lol.

Now, here is what I find interesting - my loan was rejected and a letter was sent to the Chairman earlier this week. My credit card ppi apparently has not been rejected ! The reasons I gave on both were the same except one of course was for a business loan which involved a much higher sum than the credit card. Interested in your comments as always!

[Celestine]

Re: Lloyds ppi business loan mis selling whatever next !

Well done on getting an offer out of Lloyds for your credit card. Like you say, it does seem a bit illogical that your other claim was rejected seemingly simply because its a business loan and a higher amount.

Good luck fighting on x

[Bill-K]

Re: Lloyds ppi business loan mis selling whatever next !

Well, I guess that missive aimed at Win Bischoff did the trick, Daisy. Well done, you !!!

FWIW, I am helping a friend with a LTSB claim where a credit card and a static loan were taken out at the same time, and PPI was sold on both - at the SAME time, and by the SAME person. The loan and the CC claims were dealt with by two separate people at LTSB, and the loan claim was upheld, but the CC claim was not !! Further protestations from us were met with silence, and we're considering a letter to the guv'nor, now. It sure seems to have a 'laxative' effect !!!

[DAISYC3CJS]

Re: Lloyds ppi business loan mis selling whatever next !

Bill, my letter to Sir Win was regarding my Business Loan not my credit card. I have had no response from Sir Win as yet, but it's early days I guess. As you quite rightly say, Business Loans are dealt with at an address in Wales, whilst credit cards are dealt with at a different address. I fully anticipated hassle with the credit card also but happily they made an offer, the letter was received by me on Friday 24th August having been posted and dated 16th August. I actually phoned them this morning and couldn't believe it when they told me the money had been transferred to my account this morning! Well I checked and it's not showing up as yet, but will check again tomorrow.

I'm now in the process of writing to Antonio Horta-Osorio on behalf of my other half. His credit card PPI has been rejected and with regard to his loan (a personal one which is dealt with at the credit card address), they want yet another eight weeks!).

So we'll see who we get a reaction from first, Sir Win for my claim or Antonio for the other ones lol.

The amount of time it's taking writing letters with all the necessary enclosures is mind-blowing but well worth it.

I will also be helping a neighbour with her PPI reclaim. Also with Lloyds. Also, she is a Nurse so I must research whether it was even necessary in the first place, I have a feeling it wasn't so any comments/advice more than appreciated on this also.

[DAISYC3CJS]

Re: Lloyds ppi business loan mis selling whatever next !

Well the refunded PPI is actually in my account. However I am now even more convinced that claims say over £5,000 are being rejected for no good reason - just the other 3 claims to sort out with Lloyds!

[DAISYC3CJS]

Re: Lloyds ppi business loan mis selling whatever next !

Oh my goodness, how mad am I, you would not believe!!! Urgent mathematician now required. Basically I received a letter from Lloyds this morning saying they have decided to uphold my complaints on my two business loans so that is the good news. The bad news is the amount they are offering me!! I will detail below

My first loan was £15,000 - the premiums I paid re: ppi on this was £24.88 over 60 months - this I calculate to be £1,492.80

They have offered to me as follows:

B.L.R.I. Premium £1,127.68 (I think this is correct as it's shown on my original quote)
Refund of premiums £ 359.05 (not a clue where they got this sum from)
Debit interest £1,203.15
TOTAL £2,689.88

Asfaras I am concerned this just so cannot be right.

Also the second loan which I don't have the paperwork for but was for £4,435.65 in 2007 over 3 years they are offering me £527.30 - I am fuming !

I called them up and asked them to explain and they said it would be passed back to the claims handler and I would get a phone call either today or tomorrow!

Can someone please help me out here as I'm sure on the first loan I should be getting a whole lot more and also on the second one as well.

Urgent response requested please please please

[Bill-K]

Re: Lloyds ppi business loan mis selling whatever next !

Sorry for delay, Daisy. We have a spreadsheet for calculating PPI reclaims more accurately, but using the figures you have provided, this is what I calculate:
Loan 1:
I have assumed that the £24.88 monthly PPI payment INCLUDED a portion of the loan interest which was attributable to PPI. If so, then if you made 60 repayments, you paid £1429.80 in PPI and apportioned account interest - as per your calculation.
To this, we should add 'Compensatory Interest,' which would normally be simple interest at the Statutory rate of 8% pa. It is possible to argue for a higher rate with business loans, but this will probably not get support from the FOS, and may need to be pursued in court instead. So, I have assumed the loan to have been taken out on 01/01/02, and the Comp. Interest to be 8% simple, and this comes to approx. £970. So, the total I would expect to be offered would be approx. £2463.
Loan 2:
I have assumed this to have been taken out on 01/01/09, and all 36 repayments to have been made. Using the proportion of 4435.65 : 15000, then the monthly PPI repayments would be £7.36, totalling £264.96. Comp. Interest at 8% adds approx. £87 to this, so I would expect the refund to be approx. £352.

Their offers are considerably more than my calculations, though - so I have a feeling that we need more detailed dates and amounts. I've attached a copy of the spreadsheet I have used. You just need to fill in the correct dates & figures, and it will then calculate the claim 'quantum.'

[DAISYC3CJS]

Re: Lloyds ppi business loan mis selling whatever next !

Hi Bill, no need for apologies, I appreciate your help. I've tried the spreadsheet thing but cannot get my head around it. If you have time, I would greatly appreciate it if you could have another go at a calculation. I can give you more info on the 1st loan as follows:

Amount of loan £15,000
Optional Business Loan Repayment: £1,127.68
Arrangement Fee: £188
Loan repayment per month £335.10
PPI per month: £24.88
Total per month: £359.98
TOTAL Amount of Credit: £16,315.68
TOTAL cost of borrowing: £21,598.80

Interest rate: 11.64%
Debited monthly @ 0.97%
Annual percentage rate: 12.8%

The loan was over 60 months starting in March 2000, ending either March/April 2000, paid off in full.

I do not as yet have all the details for the 2nd loan.

The other reason why I feel I should be entitled to more is because when Santander paid me back for ppi the loan (personal) was around £9,000. For this I received just over £3,500. Therefore I assumed (dangerous I know!) that for an amount of say a total of £19,000, the amount payable back to me would be around £6,000/£7,000 ?

Also I thought I saw somewhere that interest was added up to the date of the claim?

Also, according to this claims calculator http://www.ppireturn.co.uk/claimcalculator.aspx - when I wack in £15,000 over 60 months it comes out with £6,000.

So, perhaps you can understand why I'm more than a little confused.

Anyway, any further light/help you can shed on this would, again be most appreciated.