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

deebsy

amersall wrote: »

:beer: Well done max :j At last xx.

I am just starting a ppi claim on my husband's lloyds business loan. He only took it out in June 2009 and it was a single payment and he was never offered any alternative. In your experience do you think we have a claim.

Any help would be appreciated.

Thanks, Deebsy

amersall

deebsy wrote: »

I am just starting a ppi claim on my husband's lloyds business loan. He only took it out in June 2009 and it was a single payment and he was never offered any alternative. In your experience do you think we have a claim.

Any help would be appreciated.

Thanks, Deebsy

Hi there and welcome, post on here and you will get all the help you need x.
https://forums.moneysavingexpert.com/discussion/1460775

Cardinals

Current lender updates:



Lloyds – Will deal with claim, investigate upto the final response, will not give any final responses until the issues have been sorted – no timescale given.

HSBC – all new claims will be acknowledged, then no further work will be done, any which had a final decision made before the 08/10/2010 will still be issued

Barclays – Will acknowledge claims, will work on if needed but no final response will be issued.


MBNA – will acknowledge claims, nothing further will be done, no further work and no final responses.


Halifax - new cases will be acknowledged, any claims after the 08/10/2010 can't have a full review done so no final response, any claims before that date that had been reviewed will still have a final response issued on them.

RBS – all claims are being dealt with in the usual way, reviewing and issuing final responses, any claims that have been affected by the JR will be notified, no explaination of which claims could be affected.

skv123

deebsy wrote: »

I am just starting a ppi claim on my husband's lloyds business loan. He only took it out in June 2009 and it was a single payment and he was never offered any alternative. In your experience do you think we have a claim.

Any help would be appreciated.

Thanks, Deebsy

Guaranteed win given that single premium sales were banned at the end of May 2009 right?

skv123

Cardinals wrote: »

Current lender updates:



Lloyds – Will deal with claim, investigate upto the final response, we will not get any final responses until the issues have been sorted – no timescale given.

HSBC – all new claims will be acknowledged, then no further work will be done, any which had a final decision made before the 08/10/2010 will still be issued

Barclays – Will acknowledge claims, will work on if needed but no final response will be issued.


MBNA – will acknowledge claims, nothing further will be done, no further work and no final responses.


Halifax - new cases will be acknowledged, any claims after the 08/10/2010 can't have a full review done so no final response, any claims before that date that had been reviewed will still have a final response issued on them.

RBS – all claims are being dealt with in the usual way, reviewing and issuing final responses, any claims that have been affected by the Juditional Review clients will be notified, no explaination of which claims could be affected.

THanks for the info Cardinals. Can I ask for a source on this?

Cardinals

Cardinals wrote: »

Current lender updates:



Lloyds – Will deal with claim, investigate upto the final response, will not give any final responses until the issues have been sorted – no timescale given.

HSBC – all new claims will be acknowledged, then no further work will be done, any which had a final decision made before the 08/10/2010 will still be issued

Barclays – Will acknowledge claims, will work on if needed but no final response will be issued.


MBNA – will acknowledge claims, nothing further will be done, no further work and no final responses.


Halifax - new cases will be acknowledged, any claims after the 08/10/2010 can't have a full review done so no final response, any claims before that date that had been reviewed will still have a final response issued on them.

RBS – all claims are being dealt with in the usual way, reviewing and issuing final responses, any claims that have been affected by the JR will be notified, no explaination of which claims could be affected.

Direct phone calls to complaints departments

steveh31

EXCLUSIVE: Aviva to launch short-term income protection



Aviva is to launch a game-changing short-term income protection product next year that could see Payment Protection Insurance go the way of the dodo, Mortgage Introducer understands.

It is understood that Tom Spink, creditor director at Aviva, told delegates at an industry conference on the future of PPI recently that short-term income protection would increase successful claim rates because it is underwritten at point of sale.
Currently most people wanting an annually renewable policy that will pay out in the case of accident, sickness or unemployment would take out PPI. However, PPI has received a lot of negative media coverage because is is underwritten at the point of claim and consequently has a high rate of rejected claims.
Aviva would not confirm specific details of the new product, or whether it believed it would replace PPI but a spokesman said: “Underwriting factors will come into play and we will ask about income and the preferred length of the policy term.” Aviva plans to distribute the new product via the banks and intermediaries it partners with


The spokesman added that should be “ready for 2011” though he could not confirm a specific launch date.
Nigel Payne, managing director of Assurant Intermediary, a general insurance specialist, told Mortgage Introducer: “It is the only sensible move to make given the press and criticism that PPI has had over the past few years.
“It’s like saying you’d buy car insurance without knowing you’re covered. This has to be the right move both for the provider and the consumer.”
And protection guru, Kevin Carr, added: “I welcome these things - there's definitely a place for short-term income protection. It's less expensive and many advisers often use these short term products as a stepping stone to full cover."

rhoobarbcrumble

Okay, despite the lady at LloydsTSB saying our payment hadn't squeezed through before the PPI hold. My husband received his ppi refund today.:j

So it does look like those that have had their ppi upheld and signed the agreement will still be getting paid.
Let's hope so!

ETA he didn't have to chase them for it either, he just made that one phone call where he was told it was on hold.

di3004

rhoobarbcrumble wrote: »

Okay, despite the lady at LloydsTSB saying our payment hadn't squeezed through before the PPI hold. My husband received his ppi refund today.:j

So it does look like those that have had their ppi upheld and signed the agreement will still be getting paid.
Let's hope so!

ETA he didn't have to chase them for it either, he just made that one phone call where he was told it was on hold.

Great news :T, Congratulations!:beer:

deebsy

skv123 wrote: »

Guaranteed win given that single premium sales were banned at the end of May 2009 right?

Just checked our statement and unfortunatly our loan started on 20th May 2009. I am still going ahead with my claim as I still believe we have been missold.

Thanks for your help.