Loan PPI Refund

squeak24

OK, my former bank has agreed to pay back the PPI payments and the 8% interest a court would award.

As of yet I haven't received a penny. In the letter they sent me they state:

"Unfortunately, I cannot confirm a timescale of when this will be completed"

In relation to when I will get the money back, is there a set time that they have to do this in. I am going to send them a letter requesting a payment by cheque as I don't hold a bank account with them anymore and would like to include this in if there is a timescale involved.

Many thanks in advance.

di3004

squeak24 wrote: »

OK, my former bank has agreed to pay back the PPI payments and the 8% interest a court would award.

As of yet I haven't received a penny. In the letter they sent me they state:

"Unfortunately, I cannot confirm a timescale of when this will be completed"

In relation to when I will get the money back, is there a set time that they have to do this in. I am going to send them a letter requesting a payment by cheque as I don't hold a bank account with them anymore and would like to include this in if there is a timescale involved.

Many thanks in advance.

Hi there and well done.:beer:

I would give them about 28 days (one month) if you hear nothing then chase them up.

Good luck and hope you receive your money soon.;)

squeak24

All thanks to the templates on this site, they have been a huge help! I did have to send a third letter based on a template, as they rang me just before I was about to send the complaint to the FOS, for which I terminated immediately as I refuse to talk to anyone there unless in writing. After that they sent me a letter saying about repaying.

di3004

squeak24 wrote: »

All thanks to the templates on this site, they have been a huge help! I did have to send a third letter based on a template, as they rang me just before I was about to send the complaint to the FOS, for which I terminated immediately as I refuse to talk to anyone there unless in writing. After that they sent me a letter saying about repaying.

Fantastic :T Great work.:T
Congratulations.
:beer:

squeak24

Well a month on, still nothing. I am going to wait until after the 9th as that is my last ever payment for the loan so will get a full refund then instead of having to request another, and say that I will be referring the matter to the ombudsman if I haven't received payment with in eight weeks.

I have been in touch with someone at the ombudsman who is looking at another complaint with the same bank.

As they have said they are going to payup could I take them to a small claims court?

I can't believe the people who work in such large organizations can be so incompetant!

di3004

squeak24 wrote: »

Well a month on, still nothing. I am going to wait until after the 9th as that is my last ever payment for the loan so will get a full refund then instead of having to request another, and say that I will be referring the matter to the ombudsman if I haven't received payment with in eight weeks.

I have been in touch with someone at the ombudsman who is looking at another complaint with the same bank.

As they have said they are going to payup could I take them to a small claims court?

I can't believe the people who work in such large organizations can be so incompetant!

Hi there

Have you tried also contacting the FSA on this here:
http://www.fsa.gov.uk/Pages/Doing/Contact/index.shtml
See what these suggest as well if you want to, good luck.;)

squeak24

Will contact them when I get home, away with work for the next few days so a little impossible at the moment.

Last time I phoned someone at the FSA it was someone who I couldn't understand, spoke so fast that it was just impossible. Then they told me someone would phone back in three days.

Will give it ago though, thanks for that.

di3004

squeak24 wrote: »

Will contact them when I get home, away with work for the next few days so a little impossible at the moment.

Last time I phoned someone at the FSA it was someone who I couldn't understand, spoke so fast that it was just impossible. Then they told me someone would phone back in three days.

Will give it ago though, thanks for that.

Fingers crossed and good luck with this then.;)

tiggrae

squeak24 wrote: »

OK, my former bank has agreed to pay back the PPI payments and the 8% interest a court would award.

As of yet I haven't received a penny. In the letter they sent me they state:

"Unfortunately, I cannot confirm a timescale of when this will be completed"

In relation to when I will get the money back, is there a set time that they have to do this in. I am going to send them a letter requesting a payment by cheque as I don't hold a bank account with them anymore and would like to include this in if there is a timescale involved.

Many thanks in advance.

which bank is it with - some are taking at least 12 weeks to process the claims

sharpdeath

squeak24 wrote: »

Well a month on, still nothing. I am going to wait until after the 9th as that is my last ever payment for the loan so will get a full refund then instead of having to request another, and say that I will be referring the matter to the ombudsman if I haven't received payment with in eight weeks.

I have been in touch with someone at the ombudsman who is looking at another complaint with the same bank.

As they have said they are going to payup could I take them to a small claims court?

I can't believe the people who work in such large organizations can be so incompetant!

You're quite entitled to take them to the small claims court if you believe they are taking an unjustly long time to pay out. You can do it all online at the moneyclaim website. They have 14 days to respond. If they do not, the judgement will be in your favour and you can execute a warrant to send in the bailiffs. Hopefully just the court paperwork dropping on the bosses desk will be enough to get their butts into gear.

john69

Hi all,

I had a loan with the woderfull Welcome finance (NOT)!!! i have since paid the loan off in full but i am trying to reclaim my ppi, but reading todays paper the company that own welcome is in trouble so its begining to make people redundant. with the company in finacial trouble will this affect my claim be really grateful if anyone has any advice