MSE News: Anger at Lloyds PPI compensation delays

daztrueblue

I received my letter with the breakdown as follows
Refund of premiums. £2,285.92
Interest at 8% (til Nov 28th). £471.38
TOTAL. £2,757.30
Yet today, into my bank I have a payment for £471.38 from 'PLPI Refund'.

Clearly this is only the interest and no premiums added on... Has anyone else had the payments split?

I'm happy and annoyed at the same time that although I got some money, I now have to worry I may have to try and claim the rest back!

The_Marksman

daztrueblue wrote: »

I received my letter with the breakdown as follows
Refund of premiums. £2,285.92
Interest at 8% (til Nov 28th). £471.38
TOTAL. £2,757.30
Yet today, into my bank I have a payment for £471.38 from 'PLPI Refund'.

Clearly this is only the interest and no premiums added on... Has anyone else had the payments split?

I'm happy and annoyed at the same time that although I got some money, I now have to worry I may have to try and claim the rest back!

Im glad to see you have some of your redress

if you have an open loan still they will be adjusting this first then refunding the redress due i believe

can i ask when your first calcs letter was dated?

The_Marksman

bigwelsh wrote: »

Hi..... received my letter yesterday and my calculated interest went from 11,062.00 to 11,131.00. and still they haven't put a date on when getting the cheque!!!!

glad its gone up and hope its anyday now!

daztrueblue

The_Marksman wrote: »

Im glad to see you have some of your redress

if you have an open loan still they will be adjusting this first then refunding the redress due i believe

can i ask when your first calcs letter was dated?

Cheers for the quick reply! :beer:
I feel much better about it now, i was worried for a second that i would be dragged through the whole process again!

I am at work at the moment so i dont have access to the exact date but i do believe it was 22nd September (With interest up to 13th October)

The_Marksman

daztrueblue wrote: »

Cheers for the quick reply! :beer:
I feel much better about it now, i was worried for a second that i would be dragged through the whole process again!

I am at work at the moment so i dont have access to the exact date but i do believe it was 22nd September (With interest up to 13th October)

Great News & thanks for the update

phoebe1989seb

My DH received a letter from LTSB offering him a refund on 25th October and to my surprise the cheque has arrived today........admittedly this is on a very old loan account where we/the bank had very little paperwork to support the complaint and as a result he was offered a standard refund of £1200 - but a refund nonetheless and received well within the recommended time-frame

Pompey254

phoebe1989seb wrote: »

My DH received a letter from LTSB offering him a refund on 25th October and to my surprise the cheque has arrived today........admittedly this is on a very old loan account where we/the bank had very little paperwork to support the complaint and as a result he was offered a standard refund of £1200 - but a refund nonetheless and received well within the recommended time-frame

yes this was exactly the same offer I had, can I ask how far back you had your loan?

phoebe1989seb

Pompey254 wrote: »

yes this was exactly the same offer I had, can I ask how far back you had your loan?

Sure - it was taken out in 1994 and repaid early in full during 1996. All we had by way of documentary evidence (after a DSAR) was the account number and start/end dates, no statements or CCA.

Hope you get your refund very soon

di3004

phoebe1989seb wrote: »

My DH received a letter from LTSB offering him a refund on 25th October and to my surprise the cheque has arrived today........admittedly this is on a very old loan account where we/the bank had very little paperwork to support the complaint and as a result he was offered a standard refund of £1200 - but a refund nonetheless and received well within the recommended time-frame

That is brill, Congratulations!:beer:

It was same on the last 2 we have had resolved with them and our loans were from the mid 90's, both offers of £1200, so waiting for the 2 refunds to arrive now, our offers were at at the end of Sept as we were confirmed by email and the letters arrived at the start of October, well done.;)

Chasabeth

Ive been reading everyones experiences with interest.

I had a settlement letter from Lloyds on the 18th August for around £3500 and this payment would be made by cheque. On the 22nd September I had some money refunded back into my Lloyds account, £1600, and I had my PPI cancelled, my loan reduced by around £1200 and my monthly payments reduced.

I was really confused as to why I only had part of my money refunded, I'm not in arrears on the account at all. I have called the PPI claims line so many times I have lost count and all they can say is that I am due the rest of the money by cheque. I have, like everyone else, been fobbed off with its on the way etc etc, I even got Im on the priority list and my cheque would be with me within two weeks, that was at the beginning of October.

I dont know if anyone else has had this experience. I have done further borrowing on this loan, twice, so I dont know if this has had any impact. When I called I did get told there were 3 loans the complaint related too. I just cant get anywhere with this.

Oh... and I to called up last thursday and was told they have changed the payment system so I will be receiving a letter to explain this. This would be with my by Saturday, Tuesday at the very latest. I'm still waiting...