Lloyds Bank has refused my ppi claim

[Hughes]

Hie everyone, i am new to the forum. I have just received a refusal letter from Lloyds bank in regard to my mortgage payment protection claim. I have included the letter and i would be grateful if someone can show me, how to appeal the decision. I am not good with writing legal letters, so please help me. I used a ppi compensation company at first, nearly 6 months ago, who i later found out had only filed the complaint in march this year when the bank got in touch with me, refusing to deal with them because they did not receive a valid letter of Authority from the company. The bank asked me, if i wanted to do it myself and i said yes, and a few weeks later they sent me, the letter, i have included in this post. I am confused, on what to do next, and i have been given 28 days to appeal or the case is closed.

[Sapphire]

Re: Lloyds Bank has refused my ppi claim

You have a couple of choices

1. You can appeal back to Lloyds in which case they will most probably refuse
2. You can go direct to the Financial Ombudsman, the address is in the leaflet that will have been enclosed with the letter, basically you send a covering letter plus copies of all the paperwork to the Ombudsman and then you wait, ours was about 10 weeks, it was found in our favour, then Lloyds have 3 months to get back with an offer, so its a matter of waiting it out, then if they don't reply it can then go back in front of a senior ombudsman who will then do a final decision whether we get paid out or it gets dropped, I spoke to the ombudsman this week and they reckon that Lloyds are snowed under and seem to be sending out offers just before the three month deadline.
3. You can throw it in the corner and forget about it.

Basically its your decision, what I have also found out that for each complaint to the FOS Lloyds will be fined £800 (it used to be £400), plus if it goes in front of the senior guy then the fine can go up allarmingly, so it can be in the banks favour to pay out. I'd go for option one first, then if you fail go for option two, but its all a waiting game I'm afraid.

[Hughes]

Re: Lloyds Bank has refused my ppi claim

Thanks sapphire for your reply. My problem is, i am not very good at writing a good appeal letter. I need a few points, to put Lloyds in a corner, so to speak. I have banked with Lloyds for more than 15 years, and i can not believe how they have treated me.

[Sapphire]

Re: Lloyds Bank has refused my ppi claim

Just put in the letter what has happened, it doesn't have to be fantastic, just factual and for what its worth my hubby joined Lloyds when he left school, he's 66 in September so you're not alone.

[Hughes]

Re: Lloyds Bank has refused my ppi claim

Thank you sapphire. I think my thread is in the wrong forum, please can you send it to ppi claims thanks. It is such a shame, what they did to your husband, i know we will all have the last laugh.

[Brendan01]

Re: Lloyds Bank has refused my ppi claim

You have a couple of choices

1. You can appeal back to Lloyds in which case they will most probably refuse
2. You can go direct to the Financial Ombudsman, the address is in the leaflet that will have been enclosed with the letter, basically you send a covering letter plus copies of all the paperwork to the Ombudsman and then you wait, ours was about 10 weeks, it was found in our favour, then Lloyds have 3 months to get back with an offer, so its a matter of waiting it out, then if they don't reply it can then go back in front of a senior ombudsman who will then do a final decision whether we get paid out or it gets dropped, I spoke to the ombudsman this week and they reckon that Lloyds are snowed under and seem to be sending out offers just before the three month deadline.
3. You can throw it in the corner and forget about it.

Basically its your decision, what I have also found out that for each complaint to the FOS Lloyds will be fined £800 (it used to be £400), plus if it goes in front of the senior guy then the fine can go up allarmingly, so it can be in the banks favour to pay out. I'd go for option one first, then if you fail go for option two, but its all a waiting game I'm afraid.

Sapphire just read through the options you listed and just wondering whether one can appeal to Lloyds and write direct to the Financial Ombudsman

[Bill-K]

Re: Lloyds Bank has refused my ppi claim

Usually, you can only refer the claim to the FOS once you have exhausted the process with the lender. This will be signified by a letter which is clearly referred to as their final response. You can still appeal to them and attempt to continue the dialogue, but they will have no obligation to respond any further. Sometimes, contacting the CEO's office helps - but not always. While this is still going on, the FOS will not usually accept your complaint as a formal claim.

However, I do believe that you can still involve the FOS while you are attempting to resolve matters with the lender, and that they may then contact the lender and yourself to try and achieve an agreement - and therefore avoid a formal FOS claim.

[Hughes]

Re: Lloyds Bank has refused my ppi claim

Thank you Bill-k for moving the thread and your response. I will keep you updated, when i send the appeal letter and the outcome.

[Bill-K]

Re: Lloyds Bank has refused my ppi claim

That'll be Sapphire who moved your thread, but I hope we have all helped so far, Hughes.

[Hughes]

Re: Lloyds Bank has refused my ppi claim

Thank you sapphire for moving my thread and others who replied.