Help Req. Lloyds Gd Gesture offer

[Wheresmedoughgone]

Hi folks.

Looking for some advice here. I have read through vast amounts of the forums but none really answer my problem.

Lloyds have today issued me a gesture of goodwill payment of £1100.

Problem is they want to pay this into loan account to reduce outstanding debt.

Where do I stand with this - I could really use the money as single parent of two in part time work and this could be use to help pay off other Pauls while I borrow from Peter if you understand.

My loan with Lloyds is not in arrears and my claim for PPI was they mis-sold the policy to me as I already had other cover.

I have 14 days as off today re - this offer.

Any help appreciated.

[maroondevo52]

Hi,

I would write to them and insist they pay you by cheque or you will continue with court action.

I read a thread the other day where someone was paid by cheque, and they were surprised as they had another account in arrears and thought the Bank would put the money into that account.

Here's the thread..........

http://www.consumeractiongroup.co.uk...ax-cc-ppi.html

Regards.

Scott.

[Wheresmedoughgone]

Here is the offer word for word.

I 'Name', accept the offer made by Lloyds TSB Insurance of a refund of my loan insurance premium of £1116.03 in full and final settlement of my complaint.


If they are refunding my PPI then surely its not a gesture of goodwill. Does this help my case that they wording in the offer states REFUND

[maroondevo52]

Hi,

One of our Mods, Alanalana should be on later, would be worth your while, seeing what he has to say.

Regards.

Scott.

[alanalana]

Hi folks.

Looking for some advice here. I have read through vast amounts of the forums but none really answer my problem.

Lloyds have today issued me a gesture of goodwill payment of £1100.

Problem is they want to pay this into loan account to reduce outstanding debt.

Where do I stand with this - I could really use the money as single parent of two in part time work and this could be use to help pay off other Pauls while I borrow from Peter if you understand.

My loan with Lloyds is not in arrears and my claim for PPI was they mis-sold the policy to me as I already had other cover.

I have 14 days as off today re - this offer.

Any help appreciated.

You are entitled to be paid by a personal cheque in your name. However if your account with LTSB is in arrears then they can as I understand it use any refund of PPI to offset the amount.

ie if your account was in arrears to the tune of £700 then they can use £700 of the refund to make up the deficit and the balance should be paid to you. They cannot use any refund for mis-sold PPI to reduce the amount owed on the account if you are up to date with your payments and they should not use any rebate to reduce the amount owed if you are up to date with your payments.

I was offered goodwill gesture from RBS and I turned it down as there was no 8% statutory interest includede they refused to include this and so I went to the fos the goodwill gesture turned from £2.6k into £3.8k.

So from my experience if the offer of a goodwill gesture has been made and you are not happy with it. say no and let the fos decide. No one makes a goodwill gesture out of the goodness of their heart

The goodwill gesture is to prevent a larger loss of money or to prevent the regulatory bodies taking stronger action.

Your choice now

aa