ChatterBank35 mins ago
Ppi Claim
6 Answers
Hope it's okay to ask question here, but I contacted my bank recently as I believe I am possibly entitled to a repayment. I provided them with the account details and in return, they have sent me four horrendously long forms to complete before they will investigate.
Surely, they have access to my records and should be able to say one way or the other ... Or are these forms just a ploy to try and put me off (which I have to say at the moment is succeeding as I don't know where to start!!).
Has anyone experienced similar with Lloyds?
Surely, they have access to my records and should be able to say one way or the other ... Or are these forms just a ploy to try and put me off (which I have to say at the moment is succeeding as I don't know where to start!!).
Has anyone experienced similar with Lloyds?
Answers
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Yes, they're almost certainly a ploy to try to put you off!
Many banks seem to be paying out almost automatically. I didn't want to reclaim PPI on an old credit card as I didn't actually think that I'd been mis-sold it. However the bank wrote to me and invited me to put in a claim. The letter said that I might be required to provide details of why I thought that I had a valid claim but it also mentioned an online claims process. I decided to take a look at it just to see how complex the procedure was. I went to the relevant web page, where I filled in the reference number quoted in the letter, together with my date of birth. When I clicked on 'Next' I expected to see loads of questions (and, as I still wasn't sure whether I actually wanted to claim, I wasn't sure that I'd bother to answer them all) but, instead, I simply found a message that my claim for a refund was now being processed and I'd hear from them within 8 weeks. (That was only a couple of weeks ago, so I can't tell you the eventual outcome yet).
So my PPI claim needed nothing more than a reference number (identifying my account) and my date of birth (to prove my identity). Lloyds appear to be taking the wee-wee if they want a lot more!
Many banks seem to be paying out almost automatically. I didn't want to reclaim PPI on an old credit card as I didn't actually think that I'd been mis-sold it. However the bank wrote to me and invited me to put in a claim. The letter said that I might be required to provide details of why I thought that I had a valid claim but it also mentioned an online claims process. I decided to take a look at it just to see how complex the procedure was. I went to the relevant web page, where I filled in the reference number quoted in the letter, together with my date of birth. When I clicked on 'Next' I expected to see loads of questions (and, as I still wasn't sure whether I actually wanted to claim, I wasn't sure that I'd bother to answer them all) but, instead, I simply found a message that my claim for a refund was now being processed and I'd hear from them within 8 weeks. (That was only a couple of weeks ago, so I can't tell you the eventual outcome yet).
So my PPI claim needed nothing more than a reference number (identifying my account) and my date of birth (to prove my identity). Lloyds appear to be taking the wee-wee if they want a lot more!
Many thanks Buenchico and Fiction Factory for your responses.
I realise and do appreciate it's not an automatic payment, but going on my sister's example, she had a very similar scenario to Buenchico and was not asked to fill in an extensive form.
I've actually just called Lloyds who say filling in the form is optional ... I don't recall reading that anywhere in the paperwork, but in any event, a request has been placed for someone from the PPI team to call me back to go through the same with me.
Thanks again.
I realise and do appreciate it's not an automatic payment, but going on my sister's example, she had a very similar scenario to Buenchico and was not asked to fill in an extensive form.
I've actually just called Lloyds who say filling in the form is optional ... I don't recall reading that anywhere in the paperwork, but in any event, a request has been placed for someone from the PPI team to call me back to go through the same with me.
Thanks again.
The form you were sent is very likely Lloyds version of the form used by many financial companies for PPI claims. There is a version of it on the Financial Ombudsman Service website.
It is intended to allow you to provide as much detail as possible about the policy, your recollection of the way it was sold and anything else that might be relevant. Of course, as the policy was probably sold years ago it can be very difficult to remember the details, so information has to be just whatever you can recollect.
For example, you may not recall whether you were told (almost certainly incorrectly, if you were told it) that taking the PPI policy was a condition of getting the loan, mortgage or whatever. But if you know your finances at the time were pretty stretched the likelihood is that you would not have taken the policy if it was made clear to you that it was optional. This is the sort of thing you need to be able to explain as best you can recall it.
Basically, the more information you can give the greater the likelihood of a claim succeeding – always assuming, of course, that you do have grounds for believing the policy was mis-sold. I would certainly look through the form you have and think about the questions on it so you are prepared as far as possible when you speak to them on the phone.
It is intended to allow you to provide as much detail as possible about the policy, your recollection of the way it was sold and anything else that might be relevant. Of course, as the policy was probably sold years ago it can be very difficult to remember the details, so information has to be just whatever you can recollect.
For example, you may not recall whether you were told (almost certainly incorrectly, if you were told it) that taking the PPI policy was a condition of getting the loan, mortgage or whatever. But if you know your finances at the time were pretty stretched the likelihood is that you would not have taken the policy if it was made clear to you that it was optional. This is the sort of thing you need to be able to explain as best you can recall it.
Basically, the more information you can give the greater the likelihood of a claim succeeding – always assuming, of course, that you do have grounds for believing the policy was mis-sold. I would certainly look through the form you have and think about the questions on it so you are prepared as far as possible when you speak to them on the phone.
Don't forget, if Lloyds reject your claim and you believe you are entitled to a refund, send the same form over to the Financial Ombudsman Service (FOS) for a free, independent review.
Don't approach a claims management company, they will charge 30% of any refund paid out.
If you need help with the form, pop along to your local Citizens Advice branch.
Don't approach a claims management company, they will charge 30% of any refund paid out.
If you need help with the form, pop along to your local Citizens Advice branch.
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