ADP

So back in November I borrowed a chunk of money to buy my shiny new car

Everything is good, I lay down about 4k in cash on the car and borrow the rest. I upgrade my account to Platinum to get the best rates.......however in order to get the rate / amount I want I am forced to take payment protection (a costly option) but Im told I can cancel it within the month if I wish. So I do this, a hand written letter handed in by myself to my branch.

Now call me daft but I "thought" the payment amount had corrected iteself from the first month to the rest --- but called LTSB tonight just to get a statement and they tell me the payment protection was never cancelled!!!!! WTF!

So now I have to go see them-------what are the chances of them saying sorry sir we dont know about your letter - unlucky??? I have no proof I ever wrote it or anything...............jees Im p1ssed off with them now

Ap

Mice_Elf

Surely you kept a copy on your PC? Or could "find" a copy of this letter to print off again?

Or did you hand-write it?

ProperCharlie

when i had a similar problem with barclays they agreed to give me back all the payments that had been made since the "lost" cancellation letter. hopefully lloyds will do the same.

tiggers

Seeing as the original post contains the text:

what do you think Sherlock?

Jamo

iTrader: (23)

yes mate there is lots and lots you can do, if this statement above is factual and they did make you take the protction then you can screw them in a big way, its a little known fact that a bank HAS got to offer you the protection on a loan as they have a legal obligation to do so, however due to certain laws they CANNOT make you take the protection on the loan.

when you go into to see them they will probably say something along the lines of "im a responsable lender and as such I will need to know how you are going to pay for this loan if you were off with an accident or sickness if you were to become unemployed or in a worst case scenario if you were to die, I cannot look at carrying on this loan at this time without those details being given"

what you need to say then is "Have I got any legal obligation to take this protection out on this loan?"

answer "no" <-- anything other than this and they are breaking the law!

reply "great im going to the ombudsman for insurance as im sure your aware he represents the law and you have broken it, I want a full re-imbursment of all payments made for this insurance as it was never wanted and you told me I had to take this insurance to get the better rate."

any questions pm me and ile bell you mate.

jamo

Mice_Elf

It's difficult.....I can almost see the clues but....they allude me....

LOL...

Sorry for my appalling faux pas!

Jamo

iTrader: (23)

bttt

ADP

Hey cheers for the posts all

I spoke to the lloyds help desk type people last night - I was promised a phone call today.............5:05 and no one has called me.........so I shall ring back later and ask for an explanation later and ask them to call me by 11 am. At which point I will re ring if I have heard nothing..................I have to say, up until this point the guy who I have always dealt with has been very helpfull and on the face of it done me a reasonable deal, I got my platinum account at 8 quid rather than 15 or something etc etc..........so Im fairly confident that this can be resolved sensibly

Andy

Matt Churchill

Just keep complaining, and you should get your money back. As stated previously, Banks are no longer allowed to "bundle" products, under the report following the Competition Commission Inquiry, so you cannot be forced into taking insurance.

Best approach would be going for mis-selling - saying you were never given the option of NOT having the insurance. If you get nowhere next time, make sure you ask them for their written response, and details of their complaints procedure, within 5 days.

ADP

Well it appears I have a result

I spoke the same guy I always deal with, layed down the facts and he said thats fine Ill sort it out and back date it! The only thing is I still have to pay at the amount I am at the moment....but thats about 60 quid more than I would have. This is no bad thing as it means I pay it off a bit quicker, the main point being Im not paying for the payment protection - which was nearly £4000 pounds!!!!! As you can imagine I nearly fell off my chair when the customer service person told me I owed 4 grand more than I thought I borrowed!

Just got to go in and sign a form ......can sleep at night now too

Paulo P

iTrader: (42)

Good result.

Miss Scooby WRX

Get rid of lloyds tsb. They lost my money in November and paid it into someone elses account. After telling me it was impossible for them to do this and that I was being pathetic (their words not mine) they eventually admitted they were wrong. After making in excess of 40 telephone calls (no one ever phoned me back) I got my money back at the beginning of this month. As for reimbursing me my compensation was a measly £20. Have now told them to poke their account.

Hope you have better luck than I did and get what they say.

ADP

am intending to chop them in for a better rate, moving jobs at the mo so a bad time.........but the clock is ticking let me just say that

Matt Churchill

Glad you got a result, unfortunately Banks do make mistakes, as long as you can find an intelligent person to talk to you, normally you're alright.