Government e-petition PPI refund delays

JonC33

Hi all,
I put in a claim for a PPI refund and had it upheld back in December. Like many of you i'm waiting with baited breath for payment. Reading some of the stories on here about the length of time people have been waiting is simply appalling. Tonight, I've applied for an e-petition on the government website worded as follows:

Some banks are being extremely slow in paying out refunds to customers who have been wrongly sold PPI (Payment Protection Insurance). We would like the government to investigate the delays and impose a realistic time limit on the banks to make payments. (i.e. 28 days from the date a final offer is received)

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The e-petition application is being looked at and isn't live yet. If it gets accepted (i'll know within 7 days) i'll provide a link on here. Please please please sign it and get your friends and family to sign it too. We will need to get over 100,000 signatures and then the government will debate it in the house of commons!

As soon as I know and it goes live i'll post the link.

dunstonh

Some banks are being extremely slow in paying out refunds to customers who have been wrongly sold PPI (Payment Protection Insurance). We would like the government to investigate the delays and impose a realistic time limit on the banks to make payments. (i.e. 28 days from the date a final offer is received)

The Govt actually has very little control over the FSA as has been seen in a number of treasury select committee meetings in the last 2-3 years.

It will be interesting to see if the petition is accepted as its not for the Govt to impose such limits. It is for the FSA and by the time they do that, the backlog will be cleared. However, the FSA already has powers to take action if it deems necessary. So, what is there to debate in parliament?

If they do accept it, then it will be interesting to see how many sign it. Some will because they will sign anything they are told to sign. However, the delay is only affecting a minority of people. The fact you have asked friends and family to sign it too when chances are none of them are affected by it just highlights how rubbish these epetitions can be.

JonC33

I'm obviously not as in the know as you mr independent financial advisor. I do however think a lot of people have been/ will be affected by this and perhaps need a way to voice it. People have been waiting months for money that the banks have set aside in order to pay for this debacle. Why in many cases is there such a delay from the time a final offer is made to the date of actually receiving payment? I've had emails and letters ignored by my bank and there are plenty of other stories on here of the same thing happening. E petitions may be (in your opinion) 'rubbish' but it has to be worth a shot. If it gets rejected then I guess we'll have to keep having emails and letters ignored while we're left on hold for the forseeable future. If you don't try you don't know! If I simply ignored the bank when I owed them money they really wouldn't let me get away with it. It shouldn't be different the other way around. You seem strongly against a petition, why so? Oh and I'm lucky enough to have supportive friends and family who will sign the petition 'rubbish' or not.

DANDAN_2

I think we should "try" to be a little more patient with the banks.... Yes yes I know I doubt theyd so understanding if we owed them a lot of money or failed to pay them within a reasonable time frame.

Yesterday, I called their complaints dept to make an enquiry. The person I spoke to sounded so stressed out... So much so I felt sorry for her. Theyre no doubt being bombarded with claims from all directions.

Perhaps I'm too soft.... I just don't see how kicking up a fuss will get them to hand over the monies any faster.

Let's not forget they're humans too.

DANDAN_2

If anything claimants should be allowed to charge interest on the delays.

For example if payment isn't received within the next 30 days, interest interest will be applied each week at a rate of x% until the fees have been recovered.

I'd sooner do this than moan down their phone lines

JonC33

Petition has been accepted and gone live this morning - search for hm government on google and then search for PPI.

dunstonh

E petitions may be (in your opinion) 'rubbish' but it has to be worth a shot.

Not all of them are but many of them are.

You seem strongly against a petition, why so?

Because it is pointless. This is an area for the FSA. Not the Government. You should be raising it with the FSA. I would prefer my politicians to be using valuable parliament time on things that they need to influence and not something that they can debate but not do anything about (the outcome will be that they send a letter to the FSA or Mark Hoban will be present in debate).

Oh and I'm lucky enough to have supportive friends and family who will sign the petition 'rubbish' or not.

So, people who are not affected and probably dont even know what they are signing are adding their names.

I do however think a lot of people have been/ will be affected by this and perhaps need a way to voice it.

Yes. A couple of the banks are being very slow but we all know why. That is why the FSA are being tolerant to some extent with those that are showing that they are dealing with it and making improvement. Those that don't will find an FSA fine and sanctions on their way.

You may be better starting a petition to complain about the number of try-it-on and fraudulent complaints that clog up the system and can account for anything between 1/3rd and 1/2 of PPI complaints being made. If you stripped those out of the complaints system, there wouldnt be a backlog.

DANDAN_2

I agree with pretty much everything you've just said.

This particular petition is pointless and will not help the situation in any way. The banks know what they have to do and are trying to keep on top of things.

Leave the to it I say

JonC33

You may be better starting a petition to complain about the number of try-it-on and fraudulent complaints that clog up the system and can account for anything between 1/3rd and 1/2 of PPI complaints being made. If you stripped those out of the complaints system, there wouldnt be a backlog.

Perhaps that's what I mean when I've asked for the delays to be investigated.

I've tried emailing, writing (no reply received) and phoning (on hold for 30mins at a time only to be told there is no fixed date for payments to be made) If I did that to them i'd have the baliff knocking at the door wanting my belongings.

Anyhow the petition is live now so we'll just see how it goes. If enough people are bothered to sign it then I believe (perhaps wrongly, perhaps not) that the Government must carry some weight in order to get things sorted. If not then that's cool too, we'll just have to keep waiting. Its not a waste of time to do something. Sitting back and letting things just happen sometimes isn't an option.

I can't speak for everyone but I know my family and friends tend to want to know what they're signing before they do it. They are not sheep or robots under my control.