PPI Help!

Shel1982

Hi, I'm new to the site so hope I'm getting this in the right place.

I recently won a PPI claim against Clydesdale Bank in 2014. I was happy with what they paid out and thought that was the end to the matter. A week ago they wrote to me saying they had underpaid my compensation by almost £3000!!! It was totally unexpected but I filled out the acceptance form which they received on Wednesday. However, they are now saying it'll take 28 days for them to pay out! Has anyone any idea why it takes so long? Obviously the burning questions is, what are the chances of them paying out sooner than they say? It would come in so handy in the week leading to Christmas!

Thanks in advance

Shel

[Deleted User]

Shel1982 wrote: »

Obviously the burning questions is, what are the chances of them paying out sooner than they say?

Fifty fifty.

They either will, or they won't.

[Deleted User]

Not something anyone here can predict.

However, there are still six (bank) working days until Xmas (including today) so it's not impossible.
.

Shel1982

Thank you! I thought maybe someone had been told a similar timescale but got paid quicker. Well, we'll see what happens. The January sales will be fun either way ����

Suse1969

Hi
This is my first post and I'm doing it in desperation. My PPI claim with Yorkshire Bank was upheld on October 1st. They received my acceptance form on October 24th. 56 days later and I'm still awaiting payment. I telephone the PPI department weekly, have wrote 2 letters of complaint but I'm getting nowhere. I'm beyond angry as really hoping I'd have monies for Christmas. Anyone got any ideas as to what to do now. Suse

dunstonh

You wait. It can take a while as the team handling the complaint are different to the calculations team. It can take months after being told your complaint is upheld sometimes. Dont bank on it for Christmas.

sun73

Suse1969 wrote: »

Hi
This is my first post and I'm doing it in desperation. My PPI claim with Yorkshire Bank was upheld on October 1st. They received my acceptance form on October 24th. 56 days later and I'm still awaiting payment. I telephone the PPI department weekly, have wrote 2 letters of complaint but I'm getting nowhere. I'm beyond angry as really hoping I'd have monies for Christmas. Anyone got any ideas as to what to do now. Suse

Did the acceptance form quote 28 days for the payment to be received. If so, as its been breached, you could escalate your complaint to someone more senior at the bank.


I'm not sure if a business simply endeavours to pay within a certain timescale or whether they are obligated by a regulator or FOS. Maybe Dunstonh can answer this one.


Nevertheless, I hope you receive it soon

dunstonh

I'm not sure if a business simply endeavours to pay within a certain timescale or whether they are obligated by a regulator or FOS. Maybe Dunstonh can answer this one.

There is no enforcement of when the redress should be payable. It is left at being reasonable. I know of cases where complaints have been upheld but the redress has taken nearly a year. That is unusual but it happens. In the case of PPI, it seems to depend on whether the firm is using outside contractors for the complaint handling. e.g. TCC or Deloitte. They handle the complaint side, make a decision on the outcome but then pass it back to the bank to handle the redress. That seems to slow the process down at that particular point as it goes into a new queue.

The people handling the actual payment check the bankruptcy register, check for past bed debts with the bank, check for early payment and check for the amounts paid. With credit cards, it is possible that they are waiting on the long archived paper copies to be found and made available. That can be very slow.

ianuk11

Hi
not sure if this is correct section (mod may move )
ok i have 2 statute barred debts well over 12 years old

original loans and car loans with Clydesdale finance also charted trust and black horse

so few years ago had some debt collectors sending letters akitv cap and Mackenzie Hall bottom feeders any way got rid on them with a statute barred letter both replied and said would remove from there data base not had anything for coulple of years

so my question is
1 can i claim ppi
2 should i claim i assume once statute barred it stays SB
3 the fact the debts have been sold if i claim who gets the money from the ppi if its been sold on the original loan company cant claim insurance twice as this is fraud

any answers would be grateful

-taff

If you make a complaint the redress will first go towards any outstanding amounts owing to the original company, debt statute barred or not., because even if they sold it rather than passed it to a collection firm, they would have lost money.
You may get the interest portion back, you may not.

Nasqueron

ianuk11 wrote: »

Hi
not sure if this is correct section (mod may move )
ok i have 2 statute barred debts well over 12 years old

original loans and car loans with Clydesdale finance also charted trust and black horse

so few years ago had some debt collectors sending letters akitv cap and Mackenzie Hall bottom feeders any way got rid on them with a statute barred letter both replied and said would remove from there data base not had anything for coulple of years

so my question is
1 can i claim ppi
2 should i claim i assume once statute barred it stays SB
3 the fact the debts have been sold if i claim who gets the money from the ppi if its been sold on the original loan company cant claim insurance twice as this is fraud

any answers would be grateful

1) Yes but if the company can recall the debt they can offset any refund against your unpaid debt. If it's been sold on completely they have no claim on it.
2) Statute Barred simply means they can't take action against you in the courts, it doesn't mean your debt doesn't exist - it is 6 years from when you last paid/acknowledged the debt
3) You would complain (not claim) to the people who sold you the finance. Nobody is getting 2 lots of money, there is no fraud. A finance company sells debt on for pennies in the pound, they lose a lot of money when you stop paying them and so get a bit back before they write off the debt - the debt companies then try and make the money back to cover their bills

However, you need to split it out into the right people. A car loan goes to the car dealership NOT the finance provider unless the car dealership had a finance company employee working there. As it's 12 years ago, 2004, it pre-dates regulation so the car finance would not be regulated and thus can be dismissed