Lucycat V Lloyds Tsb Loan PPI

[Lucycat]

Hello all,

 

Just a quick question - has anyone had any experience reclaiming early repayment charges from LloydsTSB loans (or indeed, elsewhere?)

 

I had a small loan with Lloyds a couple of years ago and ended up paying it off well before the term was up as I came into an unexpected bit of cash - have vague memory of being walloped with a charge for doing so & am now wondering if it's worth digging it up again?

 

It wasn't a *huge* amount, but far better in my pocket than in theirs...;O)

 

Thanks in advance for any help,

 

Lucy.

[elsinore]

No personal experience Lucycat, but if you search 'early redemption' or 'early repayment' you'll come up with a good few threads on the subject.

You could also look here http://www.consumeractiongroup.co.uk/forum/mortgage-companies/

which admittedly is not loans, but there should be plenty of relevant info.

 

Elsinore

[Lucycat]

Thanks for the suggestions Elsinore (and nice to virtually meet you, as I've seen your name around the site!) :O)

 

I spent last night rather fruitlessly trying to get to grips with the search options but seem to be getting lots of irrelevant results returned (or absolutely nothing at all), even on an advanced.

 

I'm not exactly sure where I'm going wrong - I'm reasonably internet savvy, but am drawing a blank - do you perhaps know if there are there search indicators I can use (brackets, plus signs, quotation marks, etc.) to return more specific results?

 

I'll go and have a good read through the thread you mentioned & fire off a S.A.R. this morning anyway - nothing ventured, nothing gained, eh? ;O)

 

Thanks again,

 

Lucy.

[Lucycat]

Bit of a change of tack, as when statement landed it turned out that while I wasn't charged an ERC, I did get clobbered with a front-loaded PPI policy that I didn't ask for (dim and distant memory only supplied that when I'd rung to cancel the amount due was more than the original loan amount, hence thinking there was an ERC in force!)

 

Here's the full (and mercifully short) story so far...

 

I took out a personal loan with Lloyds on 31st Aug 2000 due to end on 1st April 2005 for £1500 at 19.8% APR (I know, I know - April Fool in more ways than one!)

 

PPI was included, although to the best of my knowledge I did not agree to this, and indeed was out of work from Nov 2000 onwards. There is no given figure for the PPI, but using the initial opening balance on the statement it seems to have been charged at £347.88.

 

A small windfall in July 2001 meant I was able to pay off the loan in full less than a year into the term, but when I rang to settle the amount outstanding was still £1619.36.

 

Total amount paid on the loan was £2117.56

 

I know it's not much, but I'm keen to claw it back if I can!

 

Just deciding which direction to head in now - thanks for reading this far, all opinions gratefully received!

 

Lucy.

[kokomar]

Hello Lucycat

 

Have you got any further in the last couple of weeks?

 

I have just been looking at my loan statements with EXACTLY the same problem. I'll be starting a new thread later tonight "Koko vs LloydsTSB Loans" if you want a "buddy" on a similar time line. Mine is a lot more complicated then yours (1 loan starting in 1997 then refinanced 4 times over the intervening years) and I'm going to have to start by requesting the original agreements and terms and conditions under the consumer credit act as I no longer appear to have these (probably in the attic with the wasps nest - not going there will wait my twelve days). I'd like to see where it says that the ppi is front loaded onto the loan for a start and also whether they have complied with the FSA guidelines for selling PPI that I found. Should be an interesting journey.

 

Koko

[Lucycat]

Absolutely - there's strength in numbers!

 

No further as of yet, am firing off letters left right and centre at the moment (as you can see below!)

 

I hadn't got *any* of the original paperwork anymore, so I sent off the S.A.R. & got some photocopies back in a brown envelope (stamped 'PRIVATE & CONFIDENTIAL', sent in my former married name and to my old address, which is probably worth a whole new raft of letters in itself!)

 

Will do some more reading over the weekend & try and get something ready to roll on Monday - will bookmark your thread when it appears, and please feel free to PM me.

 

Lucy.

[reidnet]

Mis Sold PPI recovered in Full From Lloyds TSB

 

http://www.consumeractiongroup.co.uk/forum/lloyds-bank/25650-reid-lloyds-2-ppi.html

 

Ian

[kokomar]

Hi Lucy I see you got moved! Koko

[Lucycat]

Yes indeed Koko - and thanks everso Zoot!

 

Ian - well done to you, v. useful thread - let's hope the process is as swift for the rest of us!

 

Lucy.