PPI Reclaim - Help Appreciated!

[BankLover_not]

Hi Guys,

 

I am seeking some advice regarding PPI premiums being recovered. I was sold a Loan Protection Policy at the same time as I took out a loan 4 years ago with Lloyds TSB. At the time I was self-employed and as I understand it, this is good grounds to recover the PPI premiums paid already and cancel the policy.

 

I have written 2 letters already to Lloyds TSB, using the templates, and they say they will not refund any of the premiums I have paid as they believe the policy was not mis-sold. I am therefore going to lodge an official complaint with the Financial Ombudsman. Having not done this before I was wondering whether anybody had any useful tips before I do.

 

I would be very grateful if you could share them with me.

 

Thank you.

 

BankLover_not

[lilal]

hi ,first you need to go through your policy document to see if self employment is covered.then if it isn,t either ring fos they will log your complaint and send you a form or you can fill in the fos on-line form.the insurance provider would (should) have sent a policy document detailing the cover provided.however on this point you wouldn,t be the only cagger not to have been supplied this info.hth

[BankLover_not]

Hi Lilal,

 

Thanks for that. I have checked all of the policy documents and the loan protection policy booklet about what the policy covers and what it doesnt but I can not find any reference to being self employed, which I was at the time of taking out the loan. What else can I do?

 

BankLover_not

[lilal]

whose the policy underwriter

[BankLover_not]

Hi Lilal,

 

Just realised there's a sentence structure error, apologies. What I was trying to say was that I have read through the loan protection policy booklet, as well as the other documents, and can not find any reference whatsoever to being self-employed. The underwriter of the policy is Lloyds TSB General Insurance Ltd and is also underwritten by The Prudential Assurance Company Ltd.

 

 

BankLover_not

[BankLover_not]

Sorry just re-read that post, there was no sentence structure error at all!!!!!!!!!!!Going mad, don't worry.

 

BankLover_not

[BankLover_not]

Hi Guys,

 

Can someone offer me some advice and guidance please. As I mentioned in my previous post I have checked the policy documents and loan protection policy booklet but can not find any reference to being self-employed. Do you think therefore that being self-employed is not covered by the policy? I was self employed at the time I took out the loan and the loan protection policy.

 

Thanks.

 

BankLover_not

[crugga]

Ive just today had a reclaim on the self employed, route. My policy claimed to cover self employed but you would have to be in involuntary insolvency which compared to an employed person who would just need to be made redundant doesnt seem a fair deal, this certainly wasnt explained when I took it out. Would say theres a very good chance you were missold but you need an SAR thingy with all the original t&c and exclusions list etc.

[crugga]

Ive just today had a reclaim on the self employed, route. My policy claimed to cover self employed but you would have to be in involuntary insolvency which compared to an employed person who would just need to be made redundant doesnt seem a fair deal, this certainly wasnt explained when I took it out. Would say theres a very good chance you were missold but you need an S.A.R - (Subject Access Request) thingy with all the original t&c and exclusions list etc.

Sorry I see youve got the documents, chances are theres a seperate exclusions paperwork which they didnt give you. I had an old Lloyds loan that was like this.

[BaldyBaldwin]

pretty much in the same boat myself with the halifax, just tagging along for the moment.

 

best of luck BB