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MSE News: Lloyds admits PPI complaints 'issues' after newspaper probe

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  • stumpcutta1
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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.?
  • Nasqueron
    Nasqueron Posts: 9,169 Forumite
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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.?

    Either give them a few more weeks or wait 2+ years referring to the FOS. Your choice.
  • James1965
    James1965 Posts: 14 Forumite
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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!
  • moneyangel22
    moneyangel22 Posts: 332 Forumite
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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!!
  • Nasqueron
    Nasqueron Posts: 9,169 Forumite
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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!!

    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.
  • moneyangel22
    moneyangel22 Posts: 332 Forumite
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    Nasqueron wrote: »
    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.
  • Nasqueron
    Nasqueron Posts: 9,169 Forumite
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    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!
  • addedvaluebob
    addedvaluebob Posts: 478 Forumite
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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 thought
  • magpiecottage
    magpiecottage Posts: 9,241 Forumite
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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 thought
    Or perhaps you are back on your conspiracy theory hobby horse

    Hanlon's razor says it is probably incompetence.
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