PPI - how long to respond to a recalculation?

Divvyvena

Newbie so please bear with me. - hubby did a ppi claim against Lloyds, got 27 k refund in May but refused to agree the figure was a final amount and in the loft he found old bank statements so he thought he was owed an additional 15k based on 4 of the 11 products he was claiming against. Products are from 1998. Duly sent letter to Lloyds advising this in June. Have been ringing them weekly ever since and every time they say it's with their recalculation team. Took 9 weeks to get a letter saying they'd received our letter, and that was only because we nagged for it. Hubby's convinced if we involve theFCA it will take up to 7 yrs to get the money. I've been saying it's a clear breach of TCF but I was on mat leave whenFSa changed to FCA and PRA so now a little unsure who to complain to and what to do. It's now been a good 4 months. Help!

[Deleted User]

There is no timescale applied to "recalculations". Have the Bank actually agreed that they will be paying you extra money? If not, there are no guarantees that they will decide in your favour anyway!


Since you cannot complain direct to the regulator, your only realistic option is to go to the Ombudsman, which can take around eighteen months (not seven years).