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Old 05 May 2011, 19:10   #1
The Trooper 1815
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Default LLOYDS - TSB Insurance miss selling.

Anyone got any info yet?

I may be in line to make a claim on this.

http://www.bbc.co.uk/news/business-13291640
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Old 05 May 2011, 19:27   #2
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I dont see why Lloyds have to pay out anything. YOU signed the contract, YOU had 30 days to cancel it so YOU should have known if there were any exclusions in your contract.

Obviously if the PPI was added without your knowledge then thats a different thing altogether.

They are saying (the press) that you can claim if the seller did not explain any exclusions in the contract when you signed for it. Well in that case can I claim back for 30 years of car, bike, house insurance as well as no-one has ever told me of any exclusions in any policy i have ever had? I doubt it very much.

On what terms do you intend to claim?

Chip

P.S I do not work in a bank.
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Old 05 May 2011, 19:38   #3
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Well said Chip.

I wonder how people will prove they were not told?

And I would imagine Lloyds TSB will not be the only ones who are hung drawn and quartered over the PPi fiasco.
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Old 05 May 2011, 19:43   #4
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I did explain to the banks sales staff that as a member of HM Forces should I receive an injury, disability or long term illness I would not be made redundant without a compensation scheme, lump sum and pension that would cover the cost of the loan, unless I was borrowing millions but was still told no insuarnce no loan.

http://www.lloydstsb.com/payment_pro...complaints.asp

Found this now so it's going off.
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Old 05 May 2011, 22:05   #5
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I've already had money back from Egg for PPI, and we are awaiting Lloyds TSB returning my son's PPI payments, since they told him he HAD to have PPI or no loan. Apparently, that's illegal.
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Old 05 May 2011, 23:19   #6
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I would love to see some stats on how often these crooks ever actually paid up on people's claims against the PPI. I bet they try every trick in the book to avoid coughing up a single penny.
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Old 06 May 2011, 00:22   #7
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Every loan I've had, they've tried to sell me payment protection insurance. All I said was 'no thanks' & strangely enough they didn't try to steal my wallet.
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Old 06 May 2011, 00:31   #8
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i might try for this as i had a create card with no ppi and lloyds took them over several years later , they put ppi on my account without my permission and at the time i assumed you had to have ppi , even though if i was made redundant i would have enough to pay off any debts
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Old 06 May 2011, 07:42   #9
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Quote:
Originally Posted by Chip View Post
I dont see why Lloyds have to pay out anything. YOU signed the contract, YOU had 30 days to cancel it so YOU should have known if there were any exclusions in your contract.

Obviously if the PPI was added without your knowledge then thats a different thing altogether.
Some will get money back who knew and agreed to PPI insurance - its a similar issue to the endowment scandal - some people would have been told the risks but went ahead anyway because it was cheap and still had a miss-selling claim honoured.

It's more for those that didn't know it had been included (or were too stupid to check) or for those that had it included but were not even elligible to claim.
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Old 06 May 2011, 08:08   #10
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for those that had it included but were not even elligible to claim.
to me the above is just the same as the "not fit for purpose" concept that applies to most consumer transactions


I am all for personal responsibility -- but it is just a game, the banks do it to each other so to me seems fair game


and my concept of personal responsibility extends to getting anything back from a bank that was sold to me fraudulently myself, and not using those ridiculous claims companies

nothing has btw I never take any “insurance” policy out

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Old 06 May 2011, 10:16   #11
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As above, my lad spent most of last year redundant, and his LLoyds TSB PPI wouldn't pay him a penny.

But they were damned quick to add penalties to his other accounts. And were also the ONLY one of his creditors NOT to help him at all.
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Old 06 May 2011, 10:54   #12
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Quote:
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As above, my lad spent most of last year redundant, and his LLoyds TSB PPI wouldn't pay him a penny.

But they were damned quick to add penalties to his other accounts. And were also the ONLY one of his creditors NOT to help him at all.
What reason did they give for not paying him?
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Old 06 May 2011, 11:19   #13
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are people really stupid enough to buy PPI

some people really need to be saved from them selves......

I remember sitting in a bank when I was about 18 getting a loan and the advisor asked did I want protection insurance, I said "do I look stupid" we both laughed and she did not mention it again.
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Old 06 May 2011, 12:34   #14
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What reason did they give for not paying him?
he had to have been out of work six weeks before it would pay.

He kept getiing small work, a day here and a day there.
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Old 06 May 2011, 12:35   #15
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are people really stupid enough to buy PPI

some people really need to be saved from them selves......

I remember sitting in a bank when I was about 18 getting a loan and the advisor asked did I want protection insurance, I said "do I look stupid" we both laughed and she did not mention it again.
Well what if you aren't told they had added it on? Like my wife wasn't? WE got ours back. We only noticed it when we received the letter detailing the loan finished.

Or what if you are told, "No PPI = no loan" like my lad was?
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Old 06 May 2011, 13:01   #16
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Quote:
Originally Posted by EddScott View Post

It's more for those that didn't know it had been included (or were too stupid to check.
Exactly, they signed a piece of paper which they then had 30 days to read and then cancel if they wanted. And now it's someone elses fault of course.

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Old 06 May 2011, 16:20   #17
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Well said Chip.

I wonder how people will prove they were not told?

And I would imagine Lloyds TSB will not be the only ones who are hung drawn and quartered over the PPi fiasco.
Why then is Lloyds offering to pay the money back?

Les
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Old 06 May 2011, 16:28   #18
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Exactly, they signed a piece of paper which they then had 30 days to read and then cancel if they wanted. And now it's someone elses fault of course.

Chip
But if your "told you need it" and want the loan what do you do, say no and not get it? They, the banks, are "the experts" and write the contract and the majority of the applicants accept it.

Lloyds TSB have accepted that they mis-sold and are taking the necessary actions. When will the others follow? As a taxpayer, for 30years and never been unemployed, I "own" the Bank so feel I should get my dues back having been shafted into buying something I did not need.
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Old 06 May 2011, 17:13   #19
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Troop,

I see your point about being told you need it from the banks but most of the PPIs sold were through those that used Black Horse as finance for cars, sofas , kitchens etc, and so were sold the PPIs from salesman who are the real rogues in all this.

Chip
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Old 06 May 2011, 17:18   #20
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Quote:
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Troop,

I see your point about being told you need it from the banks but most of the PPIs sold were through those that used Black Horse as finance for cars, sofas , kitchens etc, and so were sold the PPIs from salesman who are the real rogues in all this.

Chip
Both my Lloyds TSB loans where personal and not as finance. I have paid them off recently, having never defaulted or missed a payment but still think I was "done", hence my application will be going in the mail tomorrow.
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Old 06 May 2011, 17:31   #21
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Why then is Lloyds offering to pay the money back?

Les
Because it was told to, but dont worry its only our money they are handing out.

Chip
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Old 06 May 2011, 18:20   #22
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Because it was told to, but dont worry its only our money they are handing out.

Chip
Getting my money back then
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Old 06 May 2011, 19:51   #23
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But let's be clear here: ONLY a FEW banks, led by LLoyds TSB held out when this was first mooted.

They were hoping the government, in the guise of the courts, would bale them out again, just like they did over huge charges..........but the courts decided enough was enough.
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Old 07 May 2011, 11:39   #24
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Quote:
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Because it was told to, but dont worry its only our money they are handing out.

Chip
As ever of course.

Les
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Old 10 May 2011, 09:10   #25
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This is getting bigger!
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Old 10 May 2011, 09:20   #26
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I heard somebody being interviewed on the radio last night.

She claimed she'd been paying 25 per month for 3 years for PPI on a credit card without realising!

Perhaps I'm very **** but I would damn well spot 25 going out my bank or on a card in the first month, never mind after 3 years
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Old 26 October 2011, 15:25   #27
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UPDATE.

Got mine back , a nice sum too!
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Old 26 October 2011, 15:49   #28
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Good lad!

I got some money back from RSB due to them bending the truth towards PPI and it felt good.
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Old 26 October 2011, 15:53   #29
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Lloyds have always been upfront with me about PPI
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Old 26 October 2011, 16:02   #30
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Lloyds TSB just offered us 3300 for a mis-sold PPI on a business loan. We worked it out to be more & they have just settled with us @3851
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Old 26 October 2011, 16:02
 
 
 
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