Random questions from Lloyds PPI

max555

-taff wrote: »

Make your mind up. You asked me personally how many times have I been phoned, I told you, now it doesn't count in favour of your argument you don't like it?
Give over.

I asked you out of interest because you have said this many times in here and I was wondering if your comments were based on more than just your own experience of two loans. Surprisingly enough, your experience of two loans doesn't change my mind given how many cases I and colleagues have fully upheld after customer contact. Across the department it's hundreds every day! Often we just need to clarify employment dates, diagnosis date of illness etc. and then it's an easy uphold. Read the sticky thread at the top - loads of people get a call then get their case upheld at that stage. Bear in mind that claims companies advise their victims not to speak to banks because they want their cases to drag on for as long as possible.

-taff

many times = 3 times....And I always add that they are based on my personal experience.

You must work for a good company then, that investigates accurately.

[Deleted User]

max555 wrote: »

claims companies advise their victims not to speak to banks because they want their cases to drag on for as long as possible.

Why would claims companies want cases to drag on? CMCs want their commission as quickly as complainants want their redress. There is no advantage to either side if a case is not quickly concluded.

For someone who apparently works in the industry, you seem a bit mis-informed.

max555

Moneyineptitude wrote: »

Why would claims companies want cases to drag on? CMCs want their commission as quickly as complainants want their redress. There is no advantage to either side if a case is not quickly concluded.

I don't work for a CMC and I am not informed about their practices particularly. I always assumed they like cases to drag on because they want as much interest on the redress as possible. I can't see any other reason why they tell their "clients" not to speak to banks, in the full knowledge that this will more often than not result in an 18 month wait at the FOS.

[Deleted User]

max555 wrote: »

I can't see any other reason why they tell their "clients" not to speak to banks

It's quite clearly only that the Banks might reveal to the complainant that the CMC is doing nothing they cannot do alone. CMCs would soon fold if they positively encouraged eighteen month turnarounds on each complaint, regardless of the extra interest they might earn.

max555 wrote: »

I don't work for a CMC

Never said, or implied, you did

max555

Moneyineptitude wrote: »

It's quite clearly only that the Banks might reveal to the complainant that the CMC is doing nothing they cannot do alone.

Pretty pointless once the contract has been signed, unfortunately.

[Deleted User]

max555 wrote: »

Pretty pointless once the contract has been signed, unfortunately.

Just like PPI, there is a "cooling off" period.

max555

Which will have passed long before the case is being looked at by a case handler.

[Deleted User]

max555 wrote: »

Which will have passed long before the case is being looked at by a case handler.

Not necessarily, hence the CMC forbidding contact.

max555

I've never seen a complaint reach a bank within the cooling off period, which is usually 14 days, never mind reaching a case handler (it taked 5,6,7 weeks from acknowledgement to being investigated in most banks). If the CMC has concerns they can just sit on the complaint for 14 days and then send it in which is quite probably what they do anyway.