Lloyds TSB older loans

[di30]

In May I received a letter from the data dept to let me know to contact my branch direct to request for any older loan agreements.
I had received agreements going back as far as 2001, so was rather lucky there really - considering these loans were settled some years ago.

So I reclaimed 4 loan ppi with them and were successful, and looking through the SAR/Statements I came across loans from later 1999 and 2000, I actually found the account numbers for these, so I thought I would give it a shot and request for the agreements.

So anyway I did write directly to the bank and this was in May for these other agreements, but it slipped my mind, cos of lots going on at the time, then losing my dad.

So sometime have gone by and earlier this week I decided to write again to the branch, gave the the bank account number (we no longer bank with them though), and reminded them of the letter request send in May, and also enclosed a copy of that letter.

Today, I received a letter from them here below, but I am actually expecting a letter soon too tell me they no longer have hold of these, we will soon see, but here is the copy of the letter received in this mornings post anyway.

Dear Mr & Mrs XXXXX

I write with reference to your recent request for copies of Lending Agreements regarding old loans you held with us.

I can confirm that we have sent your request through to our Personal Loan Service Centre where all agreements are held, you will receive copies direct from them.

If I can be of any further assistance please do not hesitate to contact me.

Yours fairthfully
Sales Manager.

[di30]

Re: Lloyds TSB older loans

Despite lack of paperwork, I had enough to make the reclaims on these anyway, but they are both held up due to the Judicial Review, but am expecting an update from lloyds by the 16th April or before, we shall see.

[di30]

Re: Lloyds TSB older loans

Received a letter today from lloyds, basically just stating they are not in the position to deal with the complaint because of the Judicial Review, and they will investigate as soon as possible and let us know what happens from there.

[di30]

Re: Lloyds TSB older loans

I know its highly likely the outcome of the judgement will be appealed against, but for the sake of it I emailed the Manager on Customer Service, which was copied to the CEO - to ask them on where I now stand with my 2 ongoing reclaims, they are unable to give a full response as yet, as on email below received this morning.


Dear,

Thank you for your recent communications with regard to the position of your complaint following the Judicial Review Announcement.

At present I’m waiting for further information before I can respond in full but please be assured as soon as I have any further information I’ll be in touch.

Yours sincerely

A
Customer Relations Manager – Lloyds TSB Group Operations

[di30]

Re: Lloyds TSB older loans

I chased Lloyds up, and I have now been told that the response will be sent by post due to the confidential details enclosed.

The query was only to ask on what will happen now due to last weeks judgement outcome.
So maybe they will be responding in relation to my 2 complaints, I hope so anyway.

Dear ,

Thank you for your recent communication. I can confirm that our full response is sent via the postal service because of the confidential information it contains.

I trust this clarifies matters.

Yours sincerely

A
Customer Relations Manager – Lloyds TSB Group Operations

[di30]

Re: Lloyds TSB older loans

My scanner needs to be sorted, so I have copied and typed a copy of the letter received from Lloyds in regards of my email send to the CEO, the letter was dated 28 April 2011, and it arrived in this morning's post.


Dear

Thank you for your recent communications which you sent to the office of our Chief Executive, Mr Horta - Osorio. I would like to take the time to explain how your complaint about Payment Protection Insurance. (PPI) will be handled.

My understanding of your complaint is that you are concerned about the way you were sold PPI on your Lloyds TSB Loans. If I have misunderstood, this please let *** ****** know by calling 0845 3005599 between 08.00 - 18.00pm.

The current position is that I am still waiting for further information in order to assess your complaint.
We still aim to resolve your query through our internal complaints process as quickly as possible.
The rules which determine how we assess certain types of PPI complaints have now been considered by the Court as part of the legal proceedings between the British Bankers Association (BBA), the Financial Services Authority (FSA) and the Financial Ombudsman Service (FOS).

In December 2010, new FSA regulations came into affect which determine the way in which the industry should handle customer complaints about the sale of PPI Policies.

The BBA (the main trade association for banks) asked the Court to review these new regulations on PPI complaints handling issued by the FSA and guidance published by the FOS. This challenge was brought because the BBA is concerned that the FSA and FOS are changing their rules retrospectively, by applying new standards to past sales.

The Court has now delivered its decision and the parties to the legal proceedings may now consider whether they wish to appeal the decision.

In the meantime:

We will register and store your complaint;
We will let you know if there are material developments in the legal proceedings that will effect your complaint; and
We will let you know once we can resolve your complaint, but please note that we will not be able to deal with your complaint until the outcome of the Judicial Review, including any possible appeal, is known.

We wish to handle and resolve all complaints quickly and to the satisfaction our our customers. As soon as we have any further information regarding your PPI complaint we will contact you.

We are sorry that we have not been able to respond in full to your complaint now. We can assure you that this further delay will not count towards the time-limits in which you can refer your complaint to Court of FOS, should you disagree with the outcome of our assessment.

If you would like to discuss the contents of this letter further or have any questions please call me on 0845 300 5599 between 8am and 6pm, Monday to Friday.

Yours sincerely

Customer Relations Manager - Lloyds TSB Group Operations
__________________

[di30]

Re: Lloyds TSB older loans

My most recent email received yesterday (Thursday 19 May) on chasing my complaints........


Dear

Thank you for your recent communication sent to our Chief Executive Mr A Horta-Osório. I have been asked to respond on his behalf.

I appreciate that it is frustrating for you not to be given a timescale as to when your complaint will be looked into. However complaints will be handled in date order and we are working with the regulators to ensure we meet their expectations in terms of how we’re handling the complaints and the timescales we’re working to.

I want to ensure any potential redress paid to you is right and this could take a little time. I can assure you that this further delay will not count towards the time limits in which you can refer your complaint to Court or FOS, should you disagree with the final outcome of our assessment.

Please be assured I will respond to your complaint as soon as possible, and as you have previously highlighted that there are issues with the Postal System in your area, I will e-mail you to let you know when my letter is being sent.

I trust this helps to clarify matters.

Yours sincerely

A
Customer Relations Manager – Lloyds TSB Group Operations

[di30]

Re: Lloyds TSB older loans

My email received by the Manager at Customer Care, please wish me luck folks, cheers,


Dear ,

As previously promised this is to confirm that our final response letter has been sent in the post today.

I’m unable to guarantee when you will receive it but I would hope it would be received in the next few days. If this is not the case please do not hesitate to contact me.

Yours sincerely

A
Customer Relations Manager – Lloyds TSB Group Operations

[MattyA]

Re: Lloyds TSB older loans

My email received by the Manager at Customer Care, please wish me luck folks, cheers,


Dear ,

As previously promised this is to confirm that our final response letter has been sent in the post today.

I’m unable to guarantee when you will receive it but I would hope it would be received in the next few days. If this is not the case please do not hesitate to contact me.

Yours sincerely

A
Customer Relations Manager – Lloyds TSB Group Operations

Good luck

[di30]

Re: Lloyds TSB older loans

Good luck

Thank you Matty.x

[di30]

Re: Lloyds TSB older loans

Success, upheld on both of them, the letter arrived this morning, these are on the 2 old settled accounts.

Letter here.

Dear

I refer to your recent complaint relating to the mis-sale of Payment Protection Insurance (PPI) on your lloyds TSB Personal loan.

Thank you for your patience while I have investigated the concerns you raised regarding your PPI.

I am sorry to hear you have had reason to make a complaint. I have conducted a further review of your complaint and feel I am in the position to provide you with a response based on the information available to me.

I have completed my investigation into your complaint, reviewed any records relating to the sale of your protection policy and have taken into account your complaint points and the comments noting on your circumstances at the time of the sale.

loan XXXXXXXXX

I have decided to uphold your complaint and to offer to settle your complaint in the following manner, I propose to:

Calculate the difference between the settlement balance you have paid on the loan and what the settlement would have been had the PPI premium not been added to your loan.

We will then calculate an 8% interest payment on this sum from the day the loan was settled to the day the calculation is completed.

We will then calculate the amount you have paid to the date of cancellation and refund this back to you. This is worked out by calculating how much you paid each month in respect of the insurance alone and then multiplying this figure by how many months the insurance was active for.

If you would like a clearer indication of the PPI monthly payments you have paid to date, you will be able to obtain the copy of the Consumer Credit Agreement you received when taking out the loan. This document will tell you the PPI monthly premuim amount. I can confirm from our records that the premium was for £443.24 in total.

We will then add simple interest at 8% per annum to each monthly payment from the date you paid each amount, to the date you settled the loan.

A further 8% simple interest per annum will be calculated on this total amount from the date of early settlement of the loan to the present date.

The 8% simple interest amount will then be calculated when we receive your signed acceptance. This will only be processed at this point to ensure the figure is calculated accurately and more importantly, correctly. The calculated simple interest at 8% will then be refunded into your bank account.

As you received partial rebate in respect of your insurance of £69.88 on 30 January 2011, this will be taken into consideration when calculating the refund.

If you would like to accept this offer, please sign the enclosed acceptance slip to confirm this and return it in the pre-paid envelope.

Should you choose to accept this offer, I will instruct our redress function to commence the relevant calculation. Please be advised that this redress remedey has been designed to ensure that you are put back to the same position you would have been in, had the PPI not been sold to you.


Loan xxxxxxxxxx

I have decided to uphold your complaint and offer to settle your complaint in the following manner. I propose to:

Calculate the difference between the settlement balance you have paid on the loan and what the settlement would have been had the PPI premium had not been added to your loan.

We will then calculate an 8% interest payment on this sum from the day the loan was settled to the day the calculation is completed.

We will then calculate the amount you have paid to the date of cancellation and refund this back to you. This is worked out by calculating how much you paid each month in respect of the insurance alone and then multiplying this figure by how many months the insurance was active for.

If you would like a clearer indication of the PPI monthly payments you had paid to date, you will need to obtain the copy of the Consumer Credit agreement you received when taking out the loan. This document will tell you the PPI monthly amount and will be the figure I use when calculating your refund. This amount will then be multiplied by the number of the monthly payments you have made. Having checking the records, I can confirm that the full premium was for £1305.18.

We will then add simple interest at 8% per annum to each monthly payment from the date you paid each amount, to the date you settled the loan.

A further 8% simple interest per annum will be calculated on this total amount from the date of early settlement of the loan to the present date.

The 8% simple interest amount will then be calculated when we receive your signed acceptance. This will only be processed at this point to ensure the figure is calcuated correctly and more importantly, correctly. The calculated simple interest will then be refunded into your bank account.

As you received a partial rebate in respect of your insurance of £739.16 on 22 November 2001, this will be taken into consideration when calculating the refund.

(And the remaining is the same as above, to be put back in the position as if no ppi).

.................................................. .................................................. .........

And I have 2 acceptance slips where I have to write my bank account details.

[Mickb1969]

Re: Lloyds TSB older loans

Outstanding

[di30]

Re: Lloyds TSB older loans

Outstanding

Thank you.

That is 6 maybe 7 won against these now.

[di30]

Re: Lloyds TSB older loans

Feedback I received today in regards of the timescale of receiving the refunds.......


Dear

Thank you for your recent communication.

I am unable to give a clear timescale as to when your refund will be processed as this is dealt with by our Refunds Department. However we do advise that it can take up to 21 days from the day we receive your Acceptance Slips. I am not able to confirm receipt of the slips as they are not yet scanned on to your file, but I do note that you returned them via Recorded Delivery. Please be assured that as soon as the refund is processed I will contact you by e-mail to confirm.

Yours sincerely

A
Customer Relations Manager – Lloyds TSB Group Operations

[di30]

Re: Lloyds TSB older loans

My refund info, received both letters in the post this morning.


Dear

Thank you for your patience while I have calculated your refund on the Loan Protection Insurance Policy on the above loan. I have received your signed acceptance slip and can now confirm the details of your final refund. I have calculated your refund so that you are put back in the position that you would have been had you not taken out this policy.

We processed your refund upon the receipt of your acceptance. If you have not received this payment please allow up to 21 days for the refund to reach your account.

Your refund will include the following;


Loan number ********


1) £310.43 - this is the amount I have calculated that you paid for the policy during the policy was active. When making this calculation I have only taken into account the actual payments you have made.

2) £279.43 - This is an additional payment of 8% simple interest which we have calculated on the amount that you paid for the policy during the period it was active.

As you settled your loan early, I have also calculated the difference between the settlement balance you paid and what your settlement balance would have been if you had not taken out the policy.
We will pay you the difference of £173.34 with an additional payment of £143.29 which represents 8% siimple interest. I have calculated your refund in accordance with the Financial Ombudsman Service guidelines.




(Next loan ppi refund)

Loan number ********

Wording on letter the same as above.

Your refund will include the following:

1) £268.48 - this is the amount that I have calculated that you paid for during the period that the policy was active. When making this calculation I have only taken into account the actual payments you have made.

2) £214.40 - this is an additional payment of 8% interest which we have calculated on the amount you have paid for the policy during the period it was active.

As you settled early, I have also calculated the difference between the settlement balance you have paid and what your settlement balance would have been if you had not taken out the policy.
We will pay you this difference of £432.06 with an additional payment of £330.59 which represents 8% simple interest.

I have calculated your refund in accordance with the Financial Ombudsman Service guidelines.
__________________