Mecky Posted August 4, 2011 Share Posted August 4, 2011 Was it Lloyds Bank who were in the papers today who were losing even more money thanks to such compensation claims? Link to comment Share on other sites More sharing options...
Robbie Loving Posted August 4, 2011 Share Posted August 4, 2011 That is interesting. SO if I cancel, I can simply reclaim the money paid? You can attempt to yes, and as has been said before - you stand a good chance in winning. Link to comment Share on other sites More sharing options...
CHEZZFAYE Posted August 4, 2011 Share Posted August 4, 2011 Interesting question as I was under the impression that the PPI tends to be tied up in the loan so the only way to cancel is by taking out a new loan without PPI to pay off the remaining balance of the loan with it. In a case like this then yes it certainly is possible reclaim any PPI payments made, I did so myself way back in 2007 with interest. Oh, and yeah I see no reason why you couldn't claim even if it wasn't tied up with the loan when you cancelled, on the proviso that it was indeed miss-sold of course. jb only asked as my partner was told he needed this ppi when he first took his loan out they said it will pay if you loose your job or have an accident ect untill we found out not for the 1st 6 month when he looked at the small print. he cancled the ppi after a year when they tried to get to get him to renew his loan because they were using a new company Link to comment Share on other sites More sharing options...
crookesey Posted August 5, 2011 Share Posted August 5, 2011 Was it Lloyds Bank who were in the papers today who were losing even more money thanks to such compensation claims? This is daft, all the banks knew how much PPI they had sold and what the compensation figures were liable to be, so why the big surprise? The market has gone bare, and is waiting for some good news that appears to be taking it's time coming. Link to comment Share on other sites More sharing options...
barleycorn Posted August 5, 2011 Share Posted August 5, 2011 only asked as my partner was told he needed this ppi when he first took his loan out they said it will pay if you loose your job or have an accident ect untill we found out not for the 1st 6 month when he looked at the small print. he cancled the ppi after a year when they tried to get to get him to renew his loan because they were using a new company There are guidelines which banks must follow when offering financial products, if they weren't then you may have a claim. I suggest you start a thread over at CAG or moneysavingexpert with all the relevant details so receive all the help and guidance you will need. jb Link to comment Share on other sites More sharing options...
crookesey Posted August 5, 2011 Share Posted August 5, 2011 There are guidelines which banks must follow when offering financial products, if they weren't then you may have a claim. I suggest you start a thread over at CAG or moneysavingexpert with all the relevant details so receive all the help and guidance you will need. jb Or have a look at The Financial Ombudsman web site, and look up the criterion for making a claim. What I would advise is that anyone who has been sold PPI should contact who sold it to them, in writing, and ask them to thoroughly review the sale, giving them 28 days to reply. Link to comment Share on other sites More sharing options...
barleycorn Posted August 5, 2011 Share Posted August 5, 2011 Or have a look at The Financial Ombudsman web site, and look up the criterion for making a claim. What I would advise is that anyone who has been sold PPI should contact who sold it to them, in writing, and ask them to thoroughly review the sale, giving them 28 days to reply. One of my links in post# 2 also contains a checklist for potential claims. jb Link to comment Share on other sites More sharing options...
crookesey Posted August 5, 2011 Share Posted August 5, 2011 One of my links in post# 2 also contains a checklist for potential claims. jb So it does, but a request for a review of the sale can be made anyway. Link to comment Share on other sites More sharing options...
jayrox Posted August 5, 2011 Share Posted August 5, 2011 Don't trust any 3rd party do it yourself. Link to comment Share on other sites More sharing options...
Big Sigh Posted November 17, 2011 Share Posted November 17, 2011 I recently submitted a claim form for P.P.I to my bank (Lloyds T.S.B) in October. I have now had an offer which i will accept. I did not use a claim company as i believe they will syphon a large part off for them selves. Going straight to the bank directly cuts out the middle man. Link to comment Share on other sites More sharing options...
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