Lloyds TSB PPI

[cymruambyth]

Re: Lloyds TSB PPI

Well done, it's amazing how many of us have 'won' thanks to di's help and support.

[paularobinson]

Re: Lloyds TSB PPI

Hi!

I think I have received the same letter as you today, and was initially excited but then a friend pointed out that if I am on a repayment plan or in arrears the bank will look to take some/all of the refund. I've re-read the letter and it does state that they will look to use the refund to reduce any arrears and that they only do this where they have the right to do so and have previously informed me of their intention. This is the first I have heard of the bank being allowed to just take my money and as I need the money for other personal debts, I don't want them to take anything. Did they give you the refund via your bank account and if so, were you successful in transferring it elsewhere? Thanks in advance for any help!!

[cymruambyth]

Re: Lloyds TSB PPI

Hi, I had a LTSB loan that was in arrears and when I had a PPI refund it was a cheque that I paid into my new account, having closed my LTSB account years previously.

[di30]

Re: Lloyds TSB PPI

Hi!

I think I have received the same letter as you today, and was initially excited but then a friend pointed out that if I am on a repayment plan or in arrears the bank will look to take some/all of the refund. I've re-read the letter and it does state that they will look to use the refund to reduce any arrears and that they only do this where they have the right to do so and have previously informed me of their intention. This is the first I have heard of the bank being allowed to just take my money and as I need the money for other personal debts, I don't want them to take anything. Did they give you the refund via your bank account and if so, were you successful in transferring it elsewhere? Thanks in advance for any help!!

Hi there

I have just pm'd you back, good luck.

[Stressedoutmum]

Re: Lloyds TSB PPI

Hi!

I think I have received the same letter as you today, and was initially excited but then a friend pointed out that if I am on a repayment plan or in arrears the bank will look to take some/all of the refund. I've re-read the letter and it does state that they will look to use the refund to reduce any arrears and that they only do this where they have the right to do so and have previously informed me of their intention. This is the first I have heard of the bank being allowed to just take my money and as I need the money for other personal debts, I don't want them to take anything. Did they give you the refund via your bank account and if so, were you successful in transferring it elsewhere? Thanks in advance for any help!!

Hi Paula,

I've received 3 PPI claims back in total, one from Lloyds TSB and the other 2 from HSPF which is Bank of Scotland (and now part of Lloyds Group) and in all 3 instances I received a cheque to my home address. The Lloyds TSB claim was actually for PPI on a loan which I have been on a repayment plan with for the last 4 years via CCCS, and I never thought they'd give me the money as I was under the assumption that they would use any refund to pay towards the outstanding debt. What they did do was phone me prior to sending me the refund asking me if I wanted to use any of my refund towards the outstanding amount on my LTSB credit card which I am also on a repayment plan with. I must admit at that point I was a bit worried about them not sending me the funds so agreed to making a double payment that month (they wanted £200 off me but I said I really couldn't pay that sort of amount) but I reckon they would have sent me the money anyway if I'd have just said no, but I wasn't wanting to take the chance! lol. I hope that helps :-)