Lloyds settled loan PPI reclaim - advice please! ***WON***

[landy_alert]

Hi everyone:)

 

Well, words totally fail me with the bunch of total incompetant ****holes at LTSB Insurance -

 

Having got the FOS involved who contacted LTSB instructing them to investigate our claim, LTSB wrote to us informing us that they would do this. As they no longer had our paperwork we resent it to them for the fourth time (via rec del of course) enclosing a copy of their own letter to remind them that the FOS had asked them to investigate. The letter was received and signed for at LTSB Insurance on monday.

 

Two days ago we received a letter from LTSB Which had crossed in the post with ours saying yet again that they can't investigate as they can't identify details of any loan in that name and that too long had elapsed since the loans were taken out (the FOS has told us this is not the case).

 

We thought this was because our letters had crossed in the post and theirs was sent out before ours had arrived. Nevertheless, we sent a letter back informing them of the fact that we had already returned all the necessary paperwork to them and enclosed a copy of their letter telling us the FOS had asked them to investigate.

 

Guess what turned up in the post today?

 

Yep, all our paperwork returned to us for the fourth time!!!

 

They cannot investigate our complaint as we have not provided a recognised policy number!!!

 

I did notice that they have removed the copy of their own letter we had enclosed proving that the FOS had asked them to investigate as well as the covering letter we had sent.

 

Now I am getting mighty sick to death of LTSB Insurance and cannot believe they have done this yet again.

 

I don't know whether to return it all for the fifth time (another £1.65!) or just wait for the 27th July which is when their 8 weeks are up.

 

Alternatively we could call the FOS again and ask their advice, but as the 8 weeks isn't up yet I'm sure they will merely advise we resend it.

 

I want to appear to be doing the right thing in all this, so I suppose I have no choice but to resend it, then at least when it does go to the FOS (which I'm certain it will as I can't see LTSB getting this sorted in the next ten days), they will see that it's not us that's being unreasonable here!

 

Apologies - rant over!

 

Regards,

 

Landy x

[pompeyfaith]

blimey they are unbeliveable Landy not much advice i can give here as u have already said it send it back until the 8 weeks are up PF

[landy_alert]

blimey they are unbeliveable Landy not much advice i can give here as u have already said it send it back until the 8 weeks are up PF

 

Hi PF:)

 

If it wasn't so god-damn annoying it would be hysterically funny:lol::lol:

 

As you say, all I can do is send it back again - anyone would think it was on elastic or its a well-disguised boomerang:lol:

 

Regards,

 

Landy x

[landy_alert]

Hi everyone:)

 

Just updating this thread -

 

Well I resent Mr Landy's paperwork for the fifth time on 17th July. On 21st July I got a response from LTSB Insurance not referring to that letter, but to my previous one, thanking me for providing them with the relevant account numbers!

 

The stupidity of these people never ceases to amaze me - I sent them this info in my first letter - on the 1st June, yet they have only just decided to acknowledge the fact! They go on to say that they are now investigating my (well, Mr Landy's) concerns.

 

Well it's too late as they have now run out of time - the eight weeks is up and we shall now do as the FOS suggested and get those complaints filed:D

 

Regards,

 

Landy x

[alanalana]

Hi everyone:)

 

Just updating this thread -

 

Well I resent Mr Landy's paperwork for the fifth time on 17th July. On 21st July I got a response from LTSB Insurance not referring to that letter, but to my previous one, thanking me for providing them with the relevant account numbers!

 

The stupidity of these people never ceases to amaze me - I sent them this info in my first letter - on the 1st June, yet they have only just decided to acknowledge the fact! They go on to say that they are now investigating my (well, Mr Landy's) concerns.

 

Well it's too late as they have now run out of time - the eight weeks is up and we shall now do as the FOS suggested and get those complaints filed:D

 

Regards,

 

Landy x

 

They will just not let go of your money:-x

 

Should I say OH money, but of course as you are doing all the work

 

Keep at them

 

aa

Edited July 29, 2009 by alanalana
text added

[landy_alert]

Hi everyone:)

 

Just a quick update to confirm that this has now been passed to the FOS - LTSB had more than 8 weeks and they wasted every moment of it by continually returning our correspondence, so now we'll just have to wait and wait and wait and wait...........but if it's anything like PF's outcome the wait will be worth it!

 

Regards,

 

Landy x

[landy_alert]

Hi everyone:)

 

Just updating this thread -

 

Well, we had heard nothing on these two old settled loans since the FOS said on 17th August that they were asking Lloyds for further info and would update within two months (as yet this update not received).

 

Now today we have suddenly received offers from LTSB to uphold our complaints on both loans.

 

Just like our other two ongoing Lloyds loan PPI complaints relating to settled loans, LTSB have made no reference to the fact that these are subject to an FOS investigation.

 

Nor have they given any indication of the amounts of the two refunds they are offering, yet once again they expect us to sign and return acceptance forms whilst being unaware of how much is being offered:(

 

It definitely seems that in the matter of PPI at least, LTSB are finally starting to face up to their failings, although I still believe all this going behind the FOS's back is done for a purpose - no need to pay compensation for a start!

 

Regards,

 

Landy x

[alanalana]

Hi everyone:)

 

Just updating this thread -

 

Well, we had heard nothing on these two old settled loans since the FOS said on 17th August that they were asking Lloyds for further info and would update within two months (as yet this update not received).

 

Now today we have suddenly received offers from LTSB to uphold our complaints on both loans.

 

Just like our other two ongoing Lloyds loan PPI complaints relating to settled loans, LTSB have made no reference to the fact that these are subject to an FOS investigation.

 

Nor have they given any indication of the amounts of the two refunds they are offering, yet once again they expect us to sign and return acceptance forms whilst being unaware of how much is being offered:(

 

It definitely seems that in the matter of PPI at least, LTSB are finally starting to face up to their failings, although I still believe all this going behind the FOS's back is done for a purpose - no need to pay compensation for a start!

Regards,

 

Landy x

 

Well spotted

 

I had as similar offer from Cap One, basically,

I asked for the CI and 8% stat.

They said NO this is final offer and mentioned FOS.

I said get stuffed and went back to FOS.

 

Waiting, as one does

[landy_alert]

Hi everyone:)

 

Well, after receiving LTSB's letters offering to uphold my complaint on these two old loans I wrote back saying that until I was made aware of the amounts involved I wouldn't be signing anything.

 

I wrote to the FOS enclosing copies of LTSB's letters and informing them the same.

 

Now today I have received a letter from the FOS which states that LTSB have explained to them that my complaint is/might now be resolved. The FOS says that unless they hear back from me by 2nd Dec with any new points for them to take into account they will close the file.

 

Under separate cover I received a further letter from the FOS acknowledging receipt of the copies of the letters I sent them from LTSB.

 

Nowhere in either letter is there any mention of my concerns regarding the amount of refund on offer.

 

I have heard nothing further from LTSB since declining their offer nearly two weeks ago.

 

It seems the FOS are trying to get these complaints resolved with as little effort from themselves as possible - I know they're busy but I am the one doing all the negotiating with Lloyds which I thought was their job:eek:

 

I will now have to write yet another letter to the FOS explaining my position again!

 

Additionally I will remind them of the aggravation caused by LTSB initially refusing to deal with this complaint insofar as I had to send my documentation to them 5 times because LTSB refused point blank to acknowledge that these accounts even existed! If that doesn't warrant a little compensation I don't know what does!

 

Regards,

 

Landy x

Edited November 19, 2009 by landy_alert
Added something!

[alanalana]

Hi everyone:)

 

Well, after receiving LTSB's letters offering to uphold my complaint on these two old loans I wrote back saying that until I was made aware of the amounts involved I wouldn't be signing anything.

 

I wrote to the FOS enclosing copies of LTSB's letters and informing them the same.

 

Now today I have received a letter from the FOS which states that LTSB have explained to them that my complaint is/might now be resolved. The FOS says that unless they hear back from me by 2nd Dec with any new points for them to take into account they will close the file.

 

Under separate cover I received a further letter from the FOS acknowledging receipt of the copies of the letters I sent them from LTSB.

 

Nowhere in either letter is there any mention of my concerns regarding the amount of refund on offer.

 

I have heard nothing further from LTSB since declining their offer nearly two weeks ago.

 

It seems the FOS are trying to get these complaints resolved with as little effort from themselves as possible - I know they're busy but I am the one doing all the negotiating with Lloyds which I thought was their job:eek:

 

I will now have to write yet another letter to the FOS explaining my position again!

 

Additionally I will remind them of the aggravation caused by LTSB initially refusing to deal with this complaint insofar as I had to send my documentation to them 5 times because LTSB refused point blank to acknowledge that these accounts even existed! If that doesn't warrant a little compensation I don't know what does!

 

Regards,

 

Landy x

Trying to save your efforts on this one.

 

You can accept the offer without knowing the actual figures you can expect but you can insist that the full breakdown of how they arrive at the figures is worked out by the Bank and sent to you for your consideration.

 

I did this on my RBS claim and RBS sent out the full calculations on how they arrived at the figures that they eventually offered.

 

aa

[landy_alert]

Trying to save your efforts on this one.

 

You can accept the offer without knowing the actual figures you can expect but you can insist that the full breakdown of how they arrive at the figures is worked out by the Bank and sent to you for your consideration.

 

I did this on my RBS claim and RBS sent out the full calculations on how they arrived at the figures that they eventually offered.

 

aa

 

Hi aa:)

 

Thank you for your advice - it is definitely tempting to do as you suggest. My only fears are that this being LTSB they will do all they can to short change me on this as previous experience has shown. Also in the light of mine and various other Caggers' current problems with the FOS over MBNA and the interest issue, I feel that once an acceptance form is signed the FOS will wash their hands of any problems that arise thereafter.

 

Whilst I believe that LTSB's basic method of calculating redress is correct -

 

1) they have already quoted an incorrect figure on both these loan accounts for the rebate that was received at the time of early settlement

 

2) the figures they have given for refunds on the two other settled loan PPIs I am pursuing are lower than I believe they should be

 

3) their letter states that this offer is in full and final settlement, which I fear means that if I sign it whilst there are no figures available and then disagree later they will say 'tough luck, you signed the form'

 

4) if this is the case, the FOS will not want to know. In the MBNA issue Mr L was told by the FOS that if he disputed the amount after signing the form they would re-open his complaint. Now that he has disputed the amount, the FOS has merely said that MBNA have followed the FOS guidelines and I'm having to struggle to get the complaint re-investigated.

 

In the case of the other two old loans I mentioned above, LTSB somewhat strangely sent the figures for one and not the other. When I pressed them for an amount and a breakdown, not only does the amount they suggested fall short by several hundred pounds, but their breakdown doesn't seem to make sense.

 

Anyway for now I have responded to the FOS telling them I don't consider this complaint resolved. As for LTSB they have yet to respond to my request for a breakdown including actual figures.

 

Regards,

 

Landy x

[alanalana]

Hi aa:)

 

Thank you for your advice - it is definitely tempting to do as you suggest. My only fears are that this being LTSB they will do all they can to short change me on this as previous experience has shown. Also in the light of mine and various other Caggers' current problems with the FOS over MBNA and the interest issue, I feel that once an acceptance form is signed the FOS will wash their hands of any problems that arise thereafter.

 

Whilst I believe that LTSB's basic method of calculating redress is correct -

 

1) they have already quoted an incorrect figure on both these loan accounts for the rebate that was received at the time of early settlement

 

2) the figures they have given for refunds on the two other settled loan PPIs I am pursuing are lower than I believe they should be

 

3) their letter states that this offer is in full and final settlement, which I fear means that if I sign it whilst there are no figures available and then disagree later they will say 'tough luck, you signed the form'

 

4) if this is the case, the FOS will not want to know. In the MBNA issue Mr L was told by the FOS that if he disputed the amount after signing the form they would re-open his complaint. Now that he has disputed the amount, the FOS has merely said that MBNA have followed the FOS guidelines and I'm having to struggle to get the complaint re-investigated.

 

In the case of the other two old loans I mentioned above, LTSB somewhat strangely sent the figures for one and not the other. When I pressed them for an amount and a breakdown, not only does the amount they suggested fall short by several hundred pounds, but their breakdown doesn't seem to make sense.

 

Anyway for now I have responded to the FOS telling them I don't consider this complaint resolved. As for LTSB they have yet to respond to my request for a breakdown including actual figures.

 

Regards,

 

Landy x

 

Having looked at other evidence I would concur with all of the above comments that you have made.

 

Best to ensure the offer is accurate and acceptable as you say as the full and final signature may negate any further claim. In this case the FOS will have to start and provide consumers with the actual figures being offered by the bank etc that has been complained against and not just a statement saying they have received an offer of goodwill with no admission of liability - sign here. Perhaps it is time to reject offers where the actual sums are not mentioned and ask for the ombudsmans intervention.

 

In fact if folks start to reject via the FOS the offer of goodwill without admission of liability it may make them realise there is a flaw with their adjudication processes.

 

aa

[landy_alert]

In fact if folks start to reject via the FOS the offer of goodwill without admission of liability it may make them realise there is a flaw with their adjudication processes.

 

aa

 

Very true aa!

 

It will be interesting to see what the FOS response is to my last letter and also whether LTSB will come back with some actual figures - on the other two old LTSB loans I'm dealing with on my other thread (those in joint names with Mr L) I wrote to LTSB telling them I disagreed with their figures two weeks ago (whilst giving them an indication of what I thought the correct amounts were) and I've yet to hear anything back.

 

Regards,

 

Landy x

[alanalana]

Very true aa!

 

It will be interesting to see what the FOS response is to my last letter and also whether LTSB will come back with some actual figures - on the other two old LTSB loans I'm dealing with on my other thread (those in joint names with Mr L) I wrote to LTSB telling them I disagreed with their figures two weeks ago (whilst giving them an indication of what I thought the correct amounts were) and I've yet to hear anything back.

 

Regards,

 

Landy x

 

 

Keep at them they now know the PPI bubble has burst.

 

The FOS staffing I believe will have to increase. How may folks out there have loans with PPI but are unaware of the massive mis-selling issue.

 

I have just had another small refund from HSBC they went down with usual we do not accept the allegations but are prepared to offer of a refund as a goodwill gesture without any admission of liability.

 

good luck

 

aa

[landy_alert]

Thanks aa - agree totally and well done on your most recent success:D

[alanalana]

Thank you,

 

not a lot of dosh but everything back that was paid on PPI and the 8%, no sign of the contractual but I now believe the contractual may only be recoverable on Credit Cards where contractual is added on month by month.

 

Still have Cap one with the FOS.

Not heard anything from barclays yet a response is due within a few days, then more work for the FOS.

LTSB still to work out the figures and awaiting Wed 25 for the Supreme Court ruling as I have already lodged letters claiming bank charges back quoting the UTCCRs with HSBC.

 

Busy busy busy

[RedVixen]

When I got an offer via FOS, I rang to say what numbers are they talking and was told that should the figures not seem right to me I could take it straight back to them and the case would be reopened

[landy_alert]

When I got an offer via FOS, I rang to say what numbers are they talking and was told that should the figures not seem right to me I could take it straight back to them and the case would be reopened

 

Hi RV:)

 

Thanks for dropping by when everyone seems so engrossed in the Test Case result!

 

Trouble is Mr L did just as you suggest with his MBNA claim - having been told the same as you were regarding Lloyds by the FOS - and now the FOS in their wisdom have decided that MBNA have followed their guidelines:(

 

We both know how slippery LTSB can be and although you have had a great result from them, I'm afraid I still don't trust them as far as I could throw them!

 

Regards,

 

Landy x

[RedVixen]

I still don't trust them it just worked for me this time - i am currently waiting for them to chase me for the outstanding balance on the loan - I have had one letter chasing which I ignored, if they had to pay me a settlement figure then it is no more

[landy_alert]

Hi RV:)

 

Don't get me wrong - I wasn't implying that you do trust them, after all after today's fiasco with the bank charges who would trust any bank?

 

I just have a feeling that after today's success (albeit they've won a battle and not the war) LTSB are going to be more up their own **** holes and less likely to cough up even in the case of PPI when it should be a foregone conclusion that our money is refunded:(

 

Regarding your loan - if they had meant for you to clear it they should have paid themselves with your refund..........if they were so stupid they missed that opportunity, that's their fault don't you think;)

 

Regards,

 

Landy x

[landy_alert]

Hi everyone:)

 

A long-awaited update on this -

 

Having heard nothing from either LTSB or the FOS regarding this complaint since my last post in November, I sent a letter to the FOS last month asking for an update on the complaint. An email was received this week stating that an error had been made on their part and they should have forwarded the refund figures from LTSB. These figures were included in the email and were stated as £*** plus 8% up to date of settlement for each loan. The interest total was not given for the reason that this will continue to rise until agreement is reached. There was no breakdown of figure, ie to explain which part was PPI premiums and which part the difference between what we paid to settle early and what we would have paid had no PPI been applied. Nor was there any mention of a figure for compensation.

 

Having studied the figure given for each loan and subtracting the amount that was the actual PPI premiums paid, I believe that once again LTSB's calculations are incorrect.

 

On one of the loans they have offered £1251.47 plus 8%. Mr L paid £678.45 in PPI premiums, so subtracting this from £1251.47 leaves £573.02 which should represent the difference between his settlement cost and what that settlement cost would have been in the absence of PPI, taking into account the rebate he received when he settled early.

 

I believe this figure of £573.02 is incorrect, but as they don't show any method of reaching this figure it is very difficult to tell/prove. I still cannot understand why a bank cannot show a detailed breakdown of the refund they are offering.

 

As previously stated LTSB already misquoted the PPI rebate received on both loans, so I don't feel inclined to trust their calculations.

 

The FOS email said that if Mr L doesn't accept the refunds it will go to full adjudication. We don't feel prepared to accept, but neither do we believe full adjudication will provide a different result - it certainly didn't with MBNA - so it feels like stalemate has been reached. It's incredibly soul-destroying when you can put no faith in a body such as the FOS who are supposed to be their to assist the consumer:confused:

 

Another rant over!

 

Landy x

[JGJ]

landy alert,

 

I find myself in the same position as yourself re the full and final offers from the bank re the PPI/LPI.

 

They expect us to sign the form to accept their offer, when they do not even state what the figures are to accept. WE know what their answer would be if we found at a later date the figures just happened to be in their favour, Well YOU signed and accepted it so it is a legally binding full and final settlement.

 

I have sent it off to the FOS for their perusal and guidance and back to the bank for them to explain as to what exactly IS the full and final amount they are offering. I better not be holding my breath whilst awaiting a sensible genuine reply.

 

 

"EXEMPLO DUCEMUS"

[andie_303]

If it helps after bugging Lloyds over the same question I finally got pointed towards their loan department who can calculate the interest that you will recieve as long as you have been given a premium rebate figure.

 

I was told I would get a rebate of £XXXX + interest, the loans team finally were able to figure out the interest and give me a total amount - they did this before I accepted.

[JGJ]

andie 303,

 

Thanks for the info, could you pass the address of the loan department that was involved so I can give them a try.

 

 

"EXEMPLO DUCEMUS"

[landy_alert]

Hi JGJ:)

 

I know its absolutely ridiculous (but typical of LTSB's tactics) that they expect you to sign the form in total ignorance of what you are to receive. Unfortunately I have discovered in the case if two complaints I have lodged with the FOS (not the ones on this thread as these are old loans, but those that are still current and in default) that the FOS don't believe the bank is doing anything wrong by refusing to divulge this information.

 

It is definitely worth us trying what Andie has suggested - thanks Andie;) - so it would be most useful to have the address for the loan department that she contacted.

 

Landy x