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MSE News: Lloyds admits PPI complaints 'issues' after newspaper probe
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Originally i sent a ppi claim to Lloyds for a business loan I had taken out with PPI. I had the claim sent back to me with Lloyds claim form to fill in, which ultimately I did. This was returned to Lloyds on 24/2/2015 , they received it on 2/3/2015. I called them today to enquire the state of play and was told that they were sorry that they had not acknowledged the fact they had received my claim and although the required 8 weeks investigation should have been completed by now they were going to launch a further ,second investigation which there would be no time scale to reach a decision!. Does anyone know if they are able to do this or should I refer the claim to the F.O.?0
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stumpcutta1 wrote: »Originally i sent a ppi claim to Lloyds for a business loan I had taken out with PPI. I had the claim sent back to me with Lloyds claim form to fill in, which ultimately I did. This was returned to Lloyds on 24/2/2015 , they received it on 2/3/2015. I called them today to enquire the state of play and was told that they were sorry that they had not acknowledged the fact they had received my claim and although the required 8 weeks investigation should have been completed by now they were going to launch a further ,second investigation which there would be no time scale to reach a decision!. Does anyone know if they are able to do this or should I refer the claim to the F.O.?
Either give them a few more weeks or wait 2+ years referring to the FOS. Your choice.Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Had Lloyds reject a ppi claim back in 2013 - they have just phoned up stating they are re-opening the case. Fingers crossed!0
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Me too James1965!! They originally told me in 2012 when I first claimed that I didnt have PPI but the lady who phoned me this week said I did!! Thats 16 years worth of interest on top if upheld!!0
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moneyangel22 wrote: »Me too James1965!! They originally told me in 2012 when I first claimed that I didnt have PPI but the lady who phoned me this week said I did!! Thats 16 years worth of interest on top if upheld!!
Do remember it's simple, not compound, interest and of course, don't spend it just because they are reviewing, doesn't mean a miss-sale. See what they say after.Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Do remember it's simple, not compound, interest and of course, don't spend it just because they are reviewing, doesn't mean a miss-sale. See what they say after.
Yes, I know that. I just meant they make things worse for themselves by delaying and messing around that if they finally payout it will be more than it would have been 3 years ago!
I am not banking on anything.0 -
moneyangel22 wrote: »Yes, I know that. I just meant they make things worse for themselves by delaying and messing around that if they finally payout it will be more than it would have been 3 years ago!
I am not banking on anything.
Possible a staff member's work was identified as flawed, or they are being more generous or just double checking everything before they start time-barring complaints who knows, that rejection would be costly if they overturn!Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Or perhaps they lied on a corporate scale, employed companies with instruction to manage complaints down to an acceptable level they could pass muster with the FSA without drawing too much attention to what they were doing, employed temp staff with no understanding of financial services with 43 minutes to review a complete file including making the decision and writing the letter and have been caught by the FCA who have 'encouraged them to review the cases' rather than going public.
Just a thought0 -
Or perhaps you are back on your conspiracy theory hobby horseaddedvaluebob wrote: »Or perhaps they lied on a corporate scale, employed companies with instruction to manage complaints down to an acceptable level they could pass muster with the FSA without drawing too much attention to what they were doing, employed temp staff with no understanding of financial services with 43 minutes to review a complete file including making the decision and writing the letter and have been caught by the FCA who have 'encouraged them to review the cases' rather than going public.
Just a thought
Hanlon's razor says it is probably incompetence.0
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