PPI refund taking over 17 months??!

bernieb0307

I first applied for my PPI refund in early 2012 from Capital one. It would seem I should be expecting a large sum of up to 14k with interest. After a brief refusal letter from Capital one claiming that my signature was incorrect I have pursued the matter with the Financial Ombudsman. I received my first letter from this company in July 2012 saying that they believed I had a case.

Capital one have continuously refused the refund using small and silly excuses to which the ombudsman have put forward why I should be refunded. Capital One are given a 6 week window in which to reply but they keep coming back with vague answers in order to buy more time. I constantly ring the Ombudsman for an update and I am still being told the same thing, " we are still awaiting a response!" I am becoming extremely frustrated and I wanted just how long this claim is legally allowed to carry on for and what steps, if any, can I take to hurry it along?

[Deleted User]

bernieb0307 wrote: »

I wanted ( to know)just how long this claim is legally allowed to carry on for and what steps, if any, can I take to hurry it along?

Most Ombudsman referrals take upwards of eighteen months.

The Ombudsman is not a "company".

You have no legal recourse.

You'll just have to be patient.

Who told you that your redress would total £14, 000?

bernieb0307

Right, I knew it could take up to a year but I presumed I would have heard something within that time frame as I had all the documentation, it just seems like they are dragging their heels as it may be a large sum.
No one told me the amount, I have calculated the amount from 2001, having being paying quite a bit each month on this credit card plus interest.

Stupid_Question

bernieb0307 wrote: »

Right, I knew it could take up to a year but I presumed I would have heard something within that time frame as I had all the documentation, it just seems like they are dragging their heels as it may be a large sum.
No one told me the amount, I have calculated the amount from 2001, having being paying quite a bit each month on this credit card plus interest.

Forget about your complaint, they'll be in touch once it's completed, you can't hurry it up.

bernieb0307 wrote: »

it just seems like they are dragging their heels as it may be a large sum.

I never understand why people think this. The longer a complaint takes the more money it costs, quick, efficient complaint handling is the goal.

dunstonh

ight, I knew it could take up to a year

More like 18 months, some longer.

No one told me the amount, I have calculated the amount from 2001, having being paying quite a bit each month on this credit card plus interest.

At the moment, your complaint hasnt even been looked at. So, jumping to figures is a bit premature. Especially given the very low success rate cap one complaints have. Depending no the monitoring period, the FOS have found between 9 and 25% in favour of consumer. They have one of the lowest overturn rates at the FOS in respect of PPI.

if it only comes down to "signature differs" then this is easily resolved. Maybe you would have been better trying to resolve it with Cap One before going to the FOS and sitting in the 18 month queue.