MSE News: Anger at Lloyds PPI compensation delays

BASI

After waiting 16 weeks First Direct turned my claim down.
Sent off all the correspondence to FSA in September and have yet to get an acknowledgement/receipt - who knows where it is now - probably gathering dust in someone's intray... I guess....

sapman17

had my upheld decision on 2nd June and still no letter although last time i called MBNA with my PPI claim on a loan with loans.co.uk they said it was was being calculated and a letter would be sent in the the next 7-14 days that time is know up so I hope it comes soon and there is a good level of compensation with it for the time i have waited.

lhunter0112

I have banked with Lloyds TSB for many years and am extremely annoyed with the service I have received regarding the PPI claims I made.

I issued my complaint to Lloyds TSB in June and was assured that would have response within 16 weeks. The 16th week came and I called them only to be told that there had been no decision made as yet but would have something hopefully with the next few days. Called them a week later for the reply from the adviser that the offer letters for both my loan PPI and credit card PPI had been issued 2 weeks ago.

The adviser was very helpful (I thought) and gave me the details of the breakdowns over the phone and advised that the simple interest calculation was made up to a specific date and that the payment should hopefully reach me by them as there was no delays.

However the specific date has lapsed and still no sign of payment. 2 subsequent calls to Lloyds and they say they are no further forward with getting the payments out to me. My response to them was why then give someone an offer and the payment not be met within the timescales that they would have hoped to have settled. The response was that they were one of the biggest banks to pay out on PPI claims and that there was a backlog.

I feel that Lloyds TSB's service and customer care is not very good, and I have very little confidence in the bank. I transferred my personal banking to another bank but within the same group unfortunately, but at least they settled the PPI claim very quickly.

Lloyds TSB tut, tut, tut!!!:(

guest999

My first offer letter was also 8 September and still waiting. I have 2 other offer letters from about 2 weeks after this. So I'm guessing I could be waiting until xmas.

My experience of Egg and Capital One was also around 6 weeks. And Egg sent the cheque with the acceptance forms. Not sure why Lloyds can't do this. Where your acceptance would have been paying the cheque in the bank.

jon.e.boy_2

I was told, by my beloved Lloyds tsb, that my claim was upheld on 30th Aug. Just got off the phone with them, don't know why i waste my time and money because they cannot tell me a thing. Anyway, apparently my £ 12.5K is not yet in the post, there is however a letter in the post telling me that i was one of the unlucky customers in the backlog (yeah right!) and that they will give me any extra due (I'm still paying the ppi) - but the letter won't say when. THEY STILL WONT SAY WHEN!? The letter will tell me how much extra and will inform me that to speed things up i wont get a cheque its gonna go straight in to my account (i wonder why). The letter will also tell me that the money should follow "swiftly". I asked would it be before christmas they said i cant tell you that im agraid..!!! The bit i really want to know because i really dont understand it is how can they send me three letters but cannot send a printed cheque or even quicker and cheaper just input the data. To me that is difinitive proof that they ve an implicit policy to keep hold of this money for as long as possiblepeople. I am disgusted because not only was i once mug enough to be called a valued customer but i am still paying overdraft charges, ppi and whats left of the loan - all of that should be gone now and my family should be looking forward to a more comfortable christmas. W@NKERS!!!!

jpc5969

Well said Jon.e.boy !!!!!:mad::mad:

jon.e.boy_2

magpiecottage wrote: »

As has been said earlier, the problem is that the banks simply do not have sufficient competent staff to do the work... They are undoubtedly moving as fast as they cann.

I have to disagree. Lloyds have sufficient staff and systems to issue me THREE letters since deciding to uphold my complaint. Why couldn't they have just issued payment??

sapman17

sapman17 wrote: »

had my upheld decision on 2nd June and still no letter although last time i called MBNA with my PPI claim on a loan with loans.co.uk they said it was was being calculated and a letter would be sent in the the next 7-14 days that time is know up so I hope it comes soon and there is a good level of compensation with it for the time i have waited.

called them and they said that they have decided to check with GE the figures again how long should i give them to recheck this recalculated figure ? they also have already done this once why do they need to redo it or is this again just delaying tactics? help much apreciated

rosencrantz

Lloyds are withholding funds that they agreed to pay me within a set timeframe. Does this give me grounds to file against them with the small claims court? I fear I will never see this money - what if Lloyds know that they're going to go bust or merge or be brought out by the government and are deliberately withholding payments?

Why is it taking so long if they have agreed an amount - and only have to pay it?

They're a bank for heavens sake... they organise billions of transactions per day. What's the big hold up? Surely MSE can get some answers on this??

jon.e.boy_2

rosencrantz wrote: »

I fear I will never see this money - what if Lloyds know that they're going to go bust or merge or be brought out by the government and are deliberately withholding payments?

Why is it taking so long if they have agreed an amount - and only have to pay it?

They're a bank for heavens sake... they organise billions of transactions per day. What's the big hold up? Surely MSE can get some answers on this??

Yes, this worries me too. They calculated my reimbursement then sent me a letter about it, three letters actually, why not just send the cheque??? Plus they have had credit downgrade, have no reserve and are probably up to their neck in Greece!!!