lloyds ppi

frankay_2

i have recieved a letter from lloyds saying they are willing to make me an offer but will not tell what my offer is they have only sent exampels NOT ACTUAL offers and they say please send us the form back to say you accept..... so i rang them and said what is my offer and they said they have not calculated it yet but if i agree i will be guranteed 100% of what i am owed so where do i stand with this???? why cant they tell me what i am owed

di3004

frankay wrote: »

i have recieved a letter from lloyds saying they are willing to make me an offer but will not tell what my offer is they have only sent exampels NOT ACTUAL offers and they say please send us the form back to say you accept..... so i rang them and said what is my offer and they said they have not calculated it yet but if i agree i will be guranteed 100% of what i am owed so where do i stand with this???? why cant they tell me what i am owed

Hiya

What was the actual wording?
If they said uphold in your favour and they will calculate to the same guidelines as the fos, then that means they will refund as if you had no ppi, plus the interest etc.
Well done.

I believe you can still tackle on this later on, on one of mine last year they did send a further cheque payment.;)

magpiecottage

They have a problem with the large number of complaints they are dealing with. A number of people on this forum (and no doubt elsewhere) are saying they should do it by the end of last month but despite the assertions of some it does take some skill to produce accurate figures, even with software written specially for the purpose.

Consequently they have written to those whose cases they have upheld to confirm that and invite them to accept. If they do then the redress will be calculated and paid (with interest up to the time it is paid - so they will want to pay quickly as it costs them less).

Those who do not accept can go to FOS where they will enter a (very long) queue but will not be dealt with except in response to FOS.

As well as the delay, there is a risk. Lloyds TSB is in a "distressed" position. It had to respond by the end of August (i.e. get an offer or a rejection into the post). This means it has probably upheld cases that it did not have time to investigate fully. If you reject it then it is no longer bound by its offer. If it then chooses to reinvestigate it may discover that it did not need to uphold the complaint after all and reject the complaint.

scamander

Frankay,

I've had this letter - I spoke on the phone with LLoyds last night (after listening to Dido 18 times), you get the breakdown and amount 4 weeks after they receive your reply to the offer letter you have just received (and payment is 4 weeks after that breakdown letter is received). Just thought you might want to know.