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Settlement figure agreed but have not received money
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Cazzatm
Posts: 1 Newbie
Hi I'm just looking to find out if anyone has had a problem getting the bank to pay their settlement figure? My figure was agreed on 21st sept 2015 but we have still not received the money and when I phone the bank they keep telling us it's being escalated but we still never get the money on the dates they say.
Is this common? Has anyone else had a problem getting their money?
Any help would be appreciated thanks
Is this common? Has anyone else had a problem getting their money?
Any help would be appreciated thanks
0
Comments
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Answering the post on the assumption it is a complaint redress payment.Is this common?
yes
8-12 weeks is not uncommon. After your complaint succeeds, it is then referred to the payments department who will make a number of checks before issuing the money. e.g. did you repay the loan early (so a PPI rebate would have included as part of the redemption figure) or if you were in arrears/defaults/amounts written off (they can offset the redress against those) or if you have been a bankrupt (you dont get the money).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 -
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