Lloyds PPI Credit Card, compensation calculation and process to reclaim.

[Bill-K]

Re: Lloyds PPI Credit Card, compensation calculation and process to reclaim.

You have an admittance of mis-selling, Plato - and that is now irreversible (IMHO). The game has now changed to one of minimising losses versus maximising compensation. What is in your armoury is now somewhat dependent on the data you hold, and if that data can be further added to by enhanced responses to your DSAR & CCA requests, then I would suggest that you focus on this first. Gather ALL the info that you can, before going into battle - and then evaluate and digest that info. THEN - consider your strategy in the light of that info.

Unless you are desperate for a quick settlement at any cost, then I would NOT yet approach the lender for a settlement offer. You will need to make an informed decision as to whether their offer is fair, and without the info you need, you cannot do this. I think you really need to get all the info you can, first, unless you are living in a cardboard box in Skid Row and surviving on soup kitchen hospitality - blesséd though that help is to so many.

Do not involve the FOS at this stage, sir. They should be seen as the last resort, and not the first salvo (apols. for the mixed metaphors !!!) - if you can show that you have made every effort to resolve this issue directly with the lender, then that should count in your favour - should you then need to book in to the last resort !!!

[Plato]

Re: Lloyds PPI Credit Card, compensation calculation and process to reclaim.

Dear all,

I am sending of a complaint re the CCA request and separately the DPA request asking them for full information within 28 days and if not I may have to request a pre action disclosure.

Have you any other ideas or how to get documentary evidence of the date of the original agreements?

I am new to pre action disclosures, I understand it may cost me £80, do you think it is worth it to get the further information?

Regards
Plato

[Plato]

Re: Lloyds PPI Credit Card, compensation calculation and process to reclaim.

Dear All,

Advice required, next steps.

Lloyds have previously sent a compensation amount, I have gained further information


I have requested from Lloyds the date of starting by c/card, date I signed the original agreement. They have failed to supply this, unfortunately I don't have the original documentation myself with the date but believe it was started around 1983.

I have created a financial model to reflect this quantifying the required compensation.

I am would like to claim the full amount know, as I see it I have a number of options;
1 Go directly to Lloyds with my claim
2 start a pre action disclosure to ask them to give the date the cc started
3 take my case to FOS as I seem to have exhausted evey avenue from lloyds

I am wondering if these are the only options and what anyone with experience of this would advise?

Kind regards

Plato

[Plato]

Re: Lloyds PPI Credit Card, compensation calculation and process to reclaim.

Dear All,

Advice required, next steps.

Lloyds have previously sent a compensation amount, I have gained further information


I have requested from Lloyds the date of starting by c/card, date I signed the original agreement. They have failed to supply this, unfortunately I don't have the original documentation myself with the date but believe it was started around 1983.

I have created a financial model to reflect this quantifying the required compensation.

I am would like to claim the full amount know, as I see it I have a number of options;
1 Go directly to Lloyds with my claim
2 start a pre action disclosure to ask them to give the date the cc started
3 take my case to FOS as I seem to have exhausted evey avenue from lloyds

I am wondering if these are the only options and what anyone with experience of this would advise?

Kind regards

Plato

[Bill-K]

Re: Lloyds PPI Credit Card, compensation calculation and process to reclaim.

Hi Plato.

I have advised as best I can regarding the PPI, but court procedure is not my area, I'm afraid.

Hopefully, someone with experience of this will advise.

[Plato]

Re: Lloyds PPI Credit Card, compensation calculation and process to reclaim.

Dear Bill,

Thanks very much for your advise regarding the PPi and the calculations. Today at last I had confirmed a date when the card was opened so I can now fill this in on my financial model.

My query is know I have more information how I might best proceed to get the correctly calculated compensation. ie to the bank direct, to court or through the FOS.

Is there anyone you could advise could help with this?

Regards

Hugh

[Bill-K]

Re: Lloyds PPI Credit Card, compensation calculation and process to reclaim.

As regards the calculation, I think the original spreadsheet simply needs to be modified so that the start date is correct - as per your recently-acquired information. I would certainly suggest that you take your claim to Lloyd's first of all. If Lloyds dispute the claim, then you will need them to explain clearly on what grounds they dispute it - and likewise for the calculation.

I would only consider using the FOS if you have exhausted all avenues via Lloyd's own procedures. I would NOT suggest taking this to court if the FOS fails you, as I believe the burden of proof then shifts heavily on to the claimant - and there is a risk of you being saddled with costs - even in the Small Claims Court.