We’d like to remind Forumites to please avoid political debate on the Forum.
This is to keep it a safe and useful space for MoneySaving discussions. Threads that are – or become – political in nature may be removed in line with the Forum’s rules. Thank you for your understanding.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
The Forum now has a brand new text editor, adding a bunch of handy features to use when creating posts. Read more in our how-to guide
My bank lied about my PPI and has now admitted it!
Comments
-
I appreciate all of your replies, thank you. Surely the bank will struggle to prove that the PPI was not missold, they had to take all of my husbands employment details when he applied for the loan, also was misspelling not common back then with single premium policies? and yes we took the loan knowing we had PPI but this was our bank when they told us that it was compulsory we had no reason not to believe them, that is the point, they have now proved themselves to be untrustworthy, I bet we are not the only people that they have denied that we had PPI.0
-
Another thought... even though we complained to the bank in the first place and were rejected and then had to go to the ombudsman, should we now refer the matter back to the banks PPI team as they have now provided evidence of PPI that they denied exsisted in the first place?0
-
Unfortunately, it is YOU as the complainant who must do any proving in a "hearsay" complaint. The Bank (or Ombudsman) will simply look at the balance of probabilities when reaching their decision.Surely the bank will struggle to prove that the PPI was not missold
As I said earlier, don't lose sight of the fact that you have two completely unrelated complaints here. I would be using words like "losing faith" rather than "untrustworthy" in your SAR complaint. Remember, whatever you might like to suspect, this is more than likely just a mistake by whoever looked for your details rather than any policy to deliberately mislead.I bet we are not the only people that they have denied that we had PPI.
Absolutely not, you have referred your complaint to the Ombudsman and it's now out of your hands.should we now refer the matter back to the banks PPI team as they have now provided evidence of PPI that they denied exsisted in the first place?0 -
You need to discuss that last point with the FOS first and find out their take on it. You could find that stopping the complaint as it stands with the FOS and trying to restart it with the bank could prevent it being brought back to the FOS if the bank still won't play ball.0
-
The option to "refer a referral" is not open to the OP. FOS will now deal with this; how ever long that takes.misschicken wrote: »You could find that stopping the complaint as it stands with the FOS and trying to restart it with the bank could prevent it being brought back to the FOS if the bank still won't play ball.0 -
The FoS informed me yesterday that Clydesdale have confirmed that they will pay me back my PPI etc. The FoS only sent the bank my new evidence 2 weeks ago and I haven't had to wait for the Fos to rule on my case, the bank folded! I can't believe it after all this time. The bank are now calculating what I am owed, will they still have to do this within the Fos guidelines even though they agreed to pay out before the ombudsman made a final decision?0
-
The FoS informed me yesterday that Clydesdale have confirmed that they will pay me back my PPI etc. The FoS only sent the bank my new evidence 2 weeks ago and I haven't had to wait for the Fos to rule on my case, the bank folded! I can't believe it after all this time. The bank are now calculating what I am owed, will they still have to do this within the Fos guidelines even though they agreed to pay out before the ombudsman made a final decision?
The FOS gives the firm a chance to auto payout without being levied the FOS fees. That sounds like what has happened here.
They will pay out when they have calculated it. Some are taking a week or two. Others are taking over 6 months.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
6 months! are the banks allowed to take that long?0
-
In an ideal world they'd just send you the money tomorrow. And in cases where interest is due on repayments it's really not in the bank's interest to take forever either as it just costs them more money. However, due to it not being an ideal world and the massive back-log of complaints it could take a while. I've had one settle in a few days, another took longer than 6 months despite pressure from the FOS to sort it out. 'Within eight weeks.....' was on the last FOS paperwork I had for settlement.
And congratulations!0 -
I have no idea what money we are due back, so any help with this would be great.
We borrowed £15,000 over 120 months in may 2000
The front loaded PPI policy cost £5770
Interest paid in total £12230
we paid the loan off in 2008, I think we saved about £400 interest!
No savings on PPI.
Thanks0
This discussion has been closed.
Confirm your email address to Create Threads and Reply
Categories
- All Categories
- 354.5K Banking & Borrowing
- 254.4K Reduce Debt & Boost Income
- 455.4K Spending & Discounts
- 247.4K Work, Benefits & Business
- 604.2K Mortgages, Homes & Bills
- 178.5K Life & Family
- 261.7K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.1K Discuss & Feedback
- 37.7K Read-Only Boards