hbos ppi claim advice

skinny-on-the-inside

Hi all hope you can offer some advice on this.
I spoke to hbos on the 3/12/09 and raised a verbal request for a ppi refund on all loans that i have had with them in the last 6 years
in all 7 loans they sent a letter very quickly to acknowledge the complaint and said they would repond within the 8 weeks or I can go to fos.

i have however now received a letter today saying they are still looking into it and will respond no later than the 29th jan with a decision.
Does this mean that they are probably not going to pay out as they are taking so long to investigate?

If they do pay out i have 2 loans that are currently still running can they reduce the balance on these or can i request that i am given the cash for what I have paid and the remaining taken from the loans to reduce the monthly payments?

Sorry for all the questions just don't know what to expect.

di3004

skinny-on-the-inside wrote: »

Hi all hope you can offer some advice on this.
I spoke to hbos on the 3/12/09 and raised a verbal request for a ppi refund on all loans that i have had with them in the last 6 years
in all 7 loans they sent a letter very quickly to acknowledge the complaint and said they would repond within the 8 weeks or I can go to fos.

i have however now received a letter today saying they are still looking into it and will respond no later than the 29th jan with a decision.
Does this mean that they are probably not going to pay out as they are taking so long to investigate?

If they do pay out i have 2 loans that are currently still running can they reduce the balance on these or can i request that i am given the cash for what I have paid and the remaining taken from the loans to reduce the monthly payments?

Sorry for all the questions just don't know what to expect.

Hello there

Good luck with this.;)

They do like most banks etc have backlogs of these complaints to get through, but if you hear nothing by the date they have given, then maybe move on to the FOS.
Just as long as they let you know so you know where you stand.

Sometimes they do this in regards of refunding into active accounts, but just as long as there are no arrears you can actually request they refund directly to you.

However, this can vary from one to another financial business.

Hope this helps and hope you received a good outcome from this, fingers crossed.