Lloyds TSB Credit card PPI

[grandma_jules]

Hi there

I've been reading a lot of the threads about PPI and was wondering if you could give me some advice on making a claim for mis-sold PPI

A brief outline of the story- Mr husband has been with TSB for some years and in approx 2005 was offered a credit card, when he recieved the card he noticed that the bank had added this PPI onto the account. He rang them up and said he did not want the insurance as he had pre-existing medical conditions which would make the insurance invalid.

As we were starting our own business we must not have taken any notice of the statements with this insurance on and have been paying it ever since. Last year there was quite a lot of publicity about the mis-selling of this type of insurance so we wrote to Lloyds and asked for a refund of the premiums as we felt it had been mis-sold.

The reply came back that even though my hubby had these medical conditions the unemployment insurance would have been valid so basically no he had not been mis-sold, we are not happy with this and feel we should contact them again and get them to review the decision, as this un-employment insurance works out very expensive if that is all he is covered for.

They have continued to add this insurance premium to his credit card statement, and as with most people when you have a high balance and only pay the minimum your payments don't even cover the interest and PPI so balance is now above credit limit AND they charge us an over limit fee.

 

Any advice that can be offered to help us decide if it is worth writing to Lloyds again would be appreciated

[grandma_jules]

If anyone can point us in the direction of the correct template letter we'd be very grateful

[silverfox1961]

Hi

I think before you do anything else, you send LTSB a SAR. As this is a fairly recent agreement, I can't see them not being able to provide a copy of your original agreement.

As well as the account history, you will be wanting either actual copies or transcripts of the recordings made when you asked for the PPI to be removed.

 

You will get back statements showing exactly how much was paid in both PPI and any charges (late payment/overlimit)

 

With the PPI payments you made, you were also being charged interest on them. Any refund should put you back in the position you would have been and not out of pocket so you would add interest on to any refund application

 

Unfortunately, all my links to the relevant template letters have gone a bit wrong so I can't help you there (yet) Hopefully, one of the others can help

[MARTIN3030]

Did you get any terms and conditions sent by post ?

Where did you sign up for the card ?

Have you made any requests to them in writing for refund ?

[grandma_jules]

Silverfox - thanks for the info i'll get a sar request sent off in the morning and when i get a reply i'll post it here, will it give all that info even down to transcripts of phone calls i didn't realise that banks were that efficient!!

 

Martin - not sure on any of the answers to your first 2 points with regard to the third then yes last september we wrote asking for a refund but the reply we got was the medical stuff may not be covered but the redundancy cover was valid (expensive redunancy cover me thinks). I did write to them again last week but just a general thing saying the insurance was not asked for or wanted so surely that amounts to it being mis-sold. I would have thought that if we had ever made a claim on the insurance they would of got out of paying out on it due to the pre-existing medical stuff querying if my hubby was made redundant due to his illnesses!!

 

But thanks to you both for your input and i'll keep the thread updated should i hear anything back for ltsb.

Is there a time limit in which Ltsb need to reply to our request?

Jules

[silverfox1961]

Silverfox - thanks for the info i'll get a sar request sent off in the morning and when i get a reply i'll post it here, will it give all that info even down to transcripts of phone calls i didn't realise that banks were that efficient!!

Banks! Efficient!!!! They may not provide transcripts but you never know. Ideally, you would want the actual recordings but they may ask you to tell them the date(s) of calls (trying to put you off?)

Is there a time limit in which Ltsb need to reply to our request?

They have 40 days from receipt to supply the data

Jules

 

If you have moved house since taking out the card, provide them with previous addresses and anything else you think may be important to prove your identity.

You don't want them getting away with delaying your SAR on a technicality.

There is a strong chain of thought not to provide a signature and there are good reasons not to however, they may delay response due to you not signing.

My advice is to either sign but make your signature slightly different(add a flourish here or there) or you could get signguard anti tamper software