PPI reclaiming

calcw

Hi

I received my first responce letter from my bank regarding reclaming my ppi on a loan I have with them, they have said they will look into it and will respond in the next 28 days, is this normal? Shall I wait the 28 days or send another letter requesting a quicker responce? Not sure what to do for the best!

Thanks

di3004

calcw wrote: »

Hi

I received my first responce letter from my bank regarding reclaming my ppi on a loan I have with them, they have said they will look into it and will respond in the next 28 days, is this normal? Shall I wait the 28 days or send another letter requesting a quicker responce? Not sure what to do for the best!

Thanks

Hi there and yes some will respond with these details, however they do have 8 weeks, but its possible they will either come up with a decision by 28 days or they may state you will hear something by the time 8 weeks come up, good luck.:)

dunstonh

If you read the letter you were first sent, it will explain the complaints process and timescales and what happens next.

PPI_Technichal_Expert

calcw wrote: »

Hi

I received my first responce letter from my bank regarding reclaming my ppi on a loan I have with them, they have said they will look into it and will respond in the next 28 days, is this normal? Shall I wait the 28 days or send another letter requesting a quicker responce? Not sure what to do for the best!

Thanks

Take it to te ombudsman straight away. This way when the final response does arrive the case will already be with the ombudsman....meaning the bank will have to pay the ombudsman £500.

lennonray

not all first replys from the bank have timescales and processes , mine didnt , all i got was that they were investigating and they would update me on the progress

dunstonh

PPI_Technichal_Expert wrote: »

Take it to te ombudsman straight away. This way when the final response does arrive the case will already be with the ombudsman....meaning the bank will have to pay the ombudsman £500.

This is bad advice. The FOS will not look at a complaint until the 8 week period is up. They will not get charged £500 if you take the complaint to them before the 8 weeks is up.

You have to wait until the 8 weeks is up or you have been sent the deadlock letter. You cannot speed that up or create a cost to the company before that has happened.

PPI_Technichal_Expert

dunstonh wrote: »

This is bad advice. The FOS will not look at a complaint until the 8 week period is up. They will not get charged £500 if you take the complaint to them before the 8 weeks is up.

You have to wait until the 8 weeks is up or you have been sent the deadlock letter. You cannot speed that up or create a cost to the company before that has happened.

I was under the impression that the bank had already had their 8 weeks and then wrote to the consumer saying they wanted another 28 days?

lennonray

dunstonh wrote: »

This is bad advice. The FOS will not look at a complaint until the 8 week period is up. They will not get charged £500 if you take the complaint to them before the 8 weeks is up.

You have to wait until the 8 weeks is up or you have been sent the deadlock letter. You cannot speed that up or create a cost to the company before that has happened.

totally correct !

dunstonh

I was under the impression that the bank had already had their 8 weeks and then wrote to the consumer saying they wanted another 28 days?

If that is the case then it would be right. However, I read it that it was either the initial response saying there will be another update in 4 weeks or the holding letter that is issued at the 4 week point.

taken from post #1 ; "I received my first responce letter from my bank"

PPI_Technichal_Expert

dunstonh wrote: »

If that is the case then it would be right. However, I read it that it was either the initial response saying there will be another update in 4 weeks or the holding letter that is issued at the 4 week point.

taken from post #1 ; "I received my first responce letter from my bank"

Yup if that was your first letter then you have just gotta be patient and wait for the 8 weeks to be up! cheers for drawing my attention to this