Lloyds Refund, here's a thought.

bradleysimps

Offer letter dated 16th August and still waiting.

My wife is stupidly expecting this before X-mas we have nothing put a side and up to our eye balls in "other credit repayments"

I hope Lloyds are happy that they are doing everything they can but my (our) children won't understand when there is again very little this Christmas.

Times are bad enough as it is (just look at Greece and next Italy then Spain) I think Lloyds will go to wall before the end of next year over this. Northern Rock went to the wall for less.

I posted on this site many months ago about my skepticism over Lloyds opening the flood gates for these claims and the delay is not because they can't physically write the cheque out it is that they can't raise and release the funds quick enough.

I worked for a insurance company and was in charge of cheque production and we printed thousands a day. A company called De La Rue who make bank notes do the same, so why not out source it?

+8% and then added interest.
If they have estimated 3.5billion (£3,500,000,000.00) of refunds it's more like 5billion (£5,000,000,000.00) plus 8% plus added interest 5.5 - 6 billion! in the end.

No hedge fund, corporate banking group, asset management firm will allow that much debt exposure to one institution. The bank share holders will sell it off, de-value it and close it down and we, the little people won't see a penny. (It's not state owned it's state funded!)

So if it was my money and not my wife's I would of taken them to the small claims court and when they didn't respond send in the bailiffs. I would have done it when their dead line expired in the offer letter without warning.

By the sounds of things no one has been paid out. I fear some one out there will do some thing drastic before Christmas.

di3004

Hi there

Aww, I do hope you get your money soon, it belongs to you and they've held on to it long enough.

I don't know if it will help, but I suggested this many times on this site, you could try by contacting your local MP and explain and ask if he or she will contact/write to the bank on your behalf.
Get on to them, and ask if they will send you copies of the letter and any correspondence received.

Please keep us posted and everything crossed for you.;)

flying2468

Hi

I have contacted my MP I received my letter on Saturday, so should have Lloyds, but they have no note of it on the system.

Must be a backlog of scanning to do aswell!!!

The lloyds advisor I spoke to this morning said it was more a matter of weeks than months due to additional resource. I am in the same boat regarding other Credit payments and this money would go a long way in clearing those off.

Hopefully everyone is sorted by Christmas!!

magpiecottage

bradleysimps wrote: »

Offer letter dated 16th August and still waiting.

My wife is stupidly expecting this before X-mas we have nothing put a side and up to our eye balls in "other credit repayments"

I hope Lloyds are happy that they are doing everything they can but my (our) children won't understand when there is again very little this Christmas.

It may seem a bit harsh this money is intended to put you back into the situation you would have been in had you not taken out the policy. Presumably it would reduce the depth of your other debts from "eye balls" to "nose" or "chin".

It may sound very harsh but, as I write, the petition for compulsory financial education in schools stands at 103,784. The first lesson should be that sometimes we have to accept that we simply cannot afford all that we would like to have.

Are you sure that you are not doing a disservice to your children in the long run by spending money on them that actually belongs to somebody else?

Is that not precisely what Greece has done?

tifo

bradleysimps wrote: »

My wife is stupidly expecting this before X-mas we have nothing put a side and up to our eye balls in "other credit repayments"

I hope Lloyds are happy that they are doing everything they can but my (our) children won't understand when there is again very little this Christmas.

I think Lloyds will go to wall before the end of next year over this.

Sorry if this sounds harsh, but why are you blaming Lloyds for being up to your 'eyeballs' in debt? The refund is not yours until you receive it and they didn't ask you to overspend with other debt. Are you also blaming them for not being able to pay all your expenses from a 'job' or wherever your income comes from?

Lloyds already went to the wall a few years ago and were bailed out by the govt who will simply 'borrow' from taxpayers again if needed.

But on a good note, most banks pay within 28 days. So depends when you accepted their offer.

Esoog

tifo wrote: »

Sorry if this sounds harsh, but why are you blaming Lloyds for being up to your 'eyeballs' in debt? The refund is not yours until you receive it and they didn't ask you to overspend with other debt. Are you also blaming them for not being able to pay all your expenses from a 'job' or wherever your income comes from?

Lloyds already went to the wall a few years ago and were bailed out by the govt who will simply 'borrow' from taxpayers again if needed.

But on a good note, most banks pay within 28 days. So depends when you accepted their offer.

Tifo, I suggest you look at the lloyds tsb threads in this forum to see just how amusing that statement actually is :rotfl:

tifo

Esoog wrote: »

Tifo, I suggest you look at the lloyds tsb threads in this forum to see just how amusing that statement actually is :rotfl:

Yes, I know that, that's why i said MOST banks. They've agreed between themselves to pay within 28 days, so MOST banks do pay within this time though you receive your cheque on the few days after or before.

I've received 3 payments from 3 banks since the JR and all said 28 days and cheque was received within a few days of this time.

ripoffbanks01

Hi there

just to let you know that i emailed Andrea Barry last week asking her why has it taken 32 working days plus to refund my redress of ppi and ask her to investigate what the problem is and why has it taken so long!
Today i had a reply and she has assured me my redress will be credited to my account in the next 7 to 10 days and as i good will gesture has added another £25.00 to the total redress!

Hope this gives you a little hope that things Be moving in the right direction, keep emailing and phoneing is my advice and never give up hope!

Good luck!

michelle45_2

ripoffbanks01 wrote: »

Hi there

just to let you know that i emailed Andrea Barry last week asking her why has it taken 32 working days plus to refund my redress of ppi and ask her to investigate what the problem is and why has it taken so long!
Today i had a reply and she has assured me my redress will be credited to my account in the next 7 to 10 days and as i good will gesture has added another £25.00 to the total redress!

Hope this gives you a little hope that things Be moving in the right direction, keep emailing and phoneing is my advice and never give up hope!

Good luck!

Hi
You got more than I did. I emailed last week as I have now been waiting 9 weeks and the reply I received was acknowledgement that I was in a queue for repayment and apologised for the delay and they were working as quickly as they could to resolve the matter:rotfl::rotfl::rotfl::rotfl:

BEN0601

I also sent Andrea Barry an email recently and am still waiting for a response.

kerrirobberts

I've given up emailing Andrea Barry