MSE News: Banks put PPI claims on hold in defiance of regulator

debt55

Guys please, just listen... forget what you hear on the phone from some jobsworth, if you have signed an acceptance prior to the 7th october, you WILL get your refund.

Unfortunately, some clowns ( sorry if that offends anyone ) on the phones are mixing up what is on hold and what is not, but i can 100% reassure you that if you signed an acceptance you will get your money... but of course they will take as long as possible to pay it.

They are under legal consideration to pay anything they have upheld in writing, so dont worry, and dont be conned by a nobody on the end of a phone!

madmac7hk

Jalapee wrote: »

I received my payment last Tuesday/Wednesday time for my small loan, after waiting over 8 weeks. But I am still awaiting for another loan from Lloyds, chased up this morning and I was told as it was before this whole ‘BBA’ thing I will be receiving my refund within the next 21 days! This was about at 10:45AM this morning.

Thanks! This is interesting as it seems there are conflicting messages coming from within Lloyds themselves. My claim was made and agreed before the whole BBA thing so maybe there is some hope....

After my call at about the same time I got a stock answer.

marshallka

madmac7hk wrote: »

If FSA were going to file against this they would have done so already to get things moving again. That could have happened rather quickly, it would almost seem the FSA has sat back a little here.

Interesting though that Santander is not getting involved with the BBA on this and looks to be backing the consumer. Not sure if this is moral objection or good marketing.....

I still think that the FSA will do something TBH and although nothing announced as yet it will be within the timescale!!

Just working it all out and then they will fire back... IF they don't then they don't derserve jack TBH cause they KNOW the consumers have been misled and ripped off (their own finding!!).

They are regulators and should regulate and not be "told" by the people they regulate "go and swivel". They should be the ones telling the banks to swivel and as yet they have not got the reins. Who has the last laugh.. time will tell.

liberty_lily

Not Lloyds related, but spoke to the broker who mis-sold our PPI this morning. They had previously written stating our refund would be sent out last Friday. Today they admitted it hasn't yet been sent but it would be posted today..............no mention of the judicial review, although I had heard that they had used this excuse to another complainant.

Also spoke to the FOS - they told me the same broker refunded another consumer last week............so hopefully mine will be next - it's about time as it's nearly a year since it was originally upheld by an adjudicator before going to an ombudsman!

Jalapee

liberty_lily wrote: »

Not Lloyds related, but spoke to the broker who mis-sold our PPI this morning. They had previously written stating our refund would be sent out last Friday. Today they admitted it hasn't yet been sent but it would be posted today..............no mention of the judicial review, although I had heard that they had used this excuse to another complainant.

Also spoke to the FOS - they told me the same broker refunded another consumer last week............so hopefully mine will be next - it's about time as it's nearly a year since it was originally upheld by an adjudicator before going to an ombudsman!

Hi Lily

If you dont mind me asking which broker was this?

x

NIGELK_3

Madmac7HK, I got paid by Lloyds last week (after 30 days) so perhaps you should go back to them and mention that they are being inconsistance if they do not pay you. Also I thought that only pre 2005 PPI claims were being put on hold as these are the ones affected by the new rules due 1st December? Finally, I trust you will go to the Financial Ombudsman if you get nowhere with Lloyds? You would think the Ombudsman would file an injuction on these banks holding PPI claims just to stop the avalanche of complaints going though their doors!

debt55

NIGELK wrote: »

Madmac7HK, I got paid by Lloyds last week (after 30 days) so perhaps you should go back to them and mention that they are being inconsistance if they do not pay you. Also I thought that only pre 2005 PPI claims were being put on hold as these are the ones affected by the new rules due 1st December? Finally, I trust you will go to the Financial Ombudsman if you get nowhere with Lloyds? You would think the Ombudsman would file an injuction on these banks holding PPI claims just to stop the avalanche of complaints going though their doors!

It should only be pre 2005 claims on hold as they are the only ones affected by the JR, but at the moment all are on hold pending further talks with the FSA.

liberty_lily

Jalapee wrote: »

Hi Lily

If you dont mind me asking which broker was this?

x

Hi Jalapee

Not at all - it's Norton Finance (Norton Insurance Services).

LL x

NIGELK_3

liberty_lily wrote: »

Hi Jalapee

Not at all - it's Norton Finance (Norton Insurance Services).

LL x

Surprise Surprise!

kpwll

Re: pre -2005 PPI

Surely if the Bank (using that to cover everyone) has agreed to payout then these also shouldn't be on hold?