MSE News: Anger at Lloyds PPI compensation delays

Fiona30

Thought I would share my story with everyone!!

I sent my claim off to Lloyds in April of last year, finally heard back from them in August stating my claim had been upheld and at the begining of Sept I received a letter stating that £17k was due back to me. By Nov I still hadn't heard anything so I phoned to be told that a new offer letter had been sent - but I hadn't recevied this and the money would be in my account by next week. 1 weeks went by and still nothing, when I called again I was told that myinterest was being recalculated so I should expect to see another letter - I still hadn't received the first amended interest letter! 5 days later I did receive a letter stating that my interest had been recalculated and monies would be in my bank a week later!

Well by the second week of Dec I was totally fed up of phoning Lloyds PPI Claim line and not getting through, after waiting for 45 mins on hold you start to get fed up and wonder if you ever will see your money!

I decided to email my local MP to see if he could assist, lo and behold 5 days later I find £13k in my bank account, no letter from Lloyds as to how this is made up, so I try calling Lloyds again but still can't get through. I eventually resort to emailing my local MP to ask for his assistance in getting the remaining money from Lloyds, he kindly intervened on my behalf and Lloyds has finally coughed up the remainder!

I do think that people are not going to get anywhere unless they involve their local MP's, and eventually your MP is going to get fed up with intervening on everyones behalf and then just maybe the government might take notice that there is an issue with banks holding onto peoples PPI claim monies.

lynzbish

Offer letter 8/9/11 - still waiting

I have emailed my local mp today, i then emailed tsb and told them i have done this.

gringo2000

MPs have little power though when it comes to things like this - they can't actually contact a bank and demand them to pay up. They simply don't have the power.

A better option would be to contact a newspaper and 'expose' them - because in doing that, other people suffering from late payouts will then also come forward and speak out - and then the banks either get bullied into paying out in fear of getting a bad reputation and losing future customers - or they can continue to delay people, and then get fined by the FSA, once its become public, for deliberately stalling on paying out. That will only happen when its brought to light by numerous people all at the same time.

All your MP can do really is raise it in the House Of Commons, and hope that he/she has another MP backing him/her up by saying "i've had someone in my consituency complaining to me about a similar thing" - and then they can look into putting pressure onto the banks to pay up, or change the laws so that banks are forced to pay out within a certain timescale in the future.

Unfortunately though, the Government need the banks and bankers and let them get away with murder (hence them still paying out huge bonuses despite a lot of them being baled out with Taxpayers money) - so the chances of the government taking the publics side is probably slim...

pw1210

I know this thread is regarding Lloyds delays, but is anyone aware of what the situation is with regard to Barclaycard? I received an offer of repayment of just over £20k in October, once i received the letter I assumed (wrongly as it turns out) that it would be a simple process of them paying me the money fairly quickly. I rang after a week and was informed that it takes up to 8 weeks for the payment to be processed. Ok fair enough, I thought, lots of claims following the ruling. its now over 12 weeks and still no sign, I am on a DMP and struggling, this will be a lifeline for my family, but am continuously being fobbed off everytime I ring, I've even been informed on 2 occasions that the money will be in my account by X or Y date only to find out that the payment has not been processed. any suggestions as to what I can do to finally get the money owed and get my families life back on track.

just a note to Martin, looking at the numbers of people experiencing such problems from an industry with a fairly chequered past few years, maybe an appearance on watchdog or the like would force the banks hands in actually repaying people

Leighman_2

I must say I was so impressed by Lloyds when I made my complaint. My complaint was dealt with efficiently and politely at all times. I even got my offer letter ahead of schedule.

That was due to be paid on the 9th January.

I'm still waiting. Calling every day as I really need the £4k I've been promised.

I've had several claims recently and each one was delayed and delayed, so I thought lloyds would be a little different. Sadly not.

Reading some of the other posts, I should prepare myself for a longer wait.

Dai_Rob

gringo2000 wrote: »

A better option would be to contact a newspaper and 'expose' them - because in doing that, other people suffering from late payouts will then also come forward and speak out - and then the banks either get bullied into paying out in fear of getting a bad reputation and losing future customers - or they can continue to delay people, and then get fined by the FSA, once its become public, for deliberately stalling on paying out. That will only happen when its brought to light by numerous people all at the same time

I don't think Lloyds TSB give a damn about reputation or people's thoughts. Plus I don't think their reputation could get any worse.

pauly123_2

I had my offer on Dec 22nd 2011 which said it had interesat of 8% paid upto 10/1/12..still have not been paid,do you guys know if I can charge them any interest upto when they pay (whenever that might be) and can/how do I charge them for any bank charges I have incurred...cheers

Cplcaerphilly

I recieved a letter from lloydstsb stating that they would pay me £550.00 in PPI charges on september 29th 2011. I have now 10 calls to their PPI claims department and every time i am told that the money will be there within 2-3 weeks. Its now 25th January 2012 and im still waiting. Thats a total of 123 days and still counting, Way past their own announced limit of 90 days!!

At first they looked good buying saying they would ay everything out but can they really keep that promise?????????

I bank with lloydstsb abd have done since leaving school im now 36 years old and will definatly be changing all my accounts and having nothing to do with lloydstsb EVER again!

mandyja

LLoyds TSB - I received a letter telling me how much i am going to get on 9th December 2011, saying that they will credit the money to my account, as soon as possible. 49 days later still waiting. Ive read some things saying that theirs has been delayed due to loan still outstanding and not having an account with them. Neither of these relate to me, my loans finished approx 4 years ago, and im still a customer of theirs. I can see by other comments looks like I have got a long wait ahead of me to get the money.
It really annoys me that, if we missed a payment or went over our authorised overdraft, they would be banging down our doors asking for payment and i bet they wouldnt accept us saying ill get it to you as soon as possible. It would be a bit more acceptable if they gave us a straight answer and said we have a backlog so it will be more like 3 to 6 months before payment. Honesty is the best policy!!! Although wouldnt be happy with waiting that long but at least it save us customers money, from having to ring them every week and checking our balances regular.
As it is a government backed bank, why cant they hit them were it hurts and fine them if they dont pay up within a set timescale.

filsgreen

First of all thank you to Moneysaving expert for all the great work they do. I read these pages after applying for a PPI refund and was filled with dismay as I thought LloydsTSB would hold on to any money they may have owed me. However, I was proved wrong. I recieved an offer from Lloyds on 21 January this year, nearly ten weeks after my letter of complaint, offering me a very fair amount. Lloyds TSB fully explained how they arrived at the figure and said they would pay the figure into my bank. On 25 January 2012 they paid my refund into one of my Lloyds accounts, which was not overdrawn. All I can say is well done to Lloyds TSB, they got it right for me; I hope they get it right for everyone else soon.

Phil