PPI- Under payments

HBARON

Hi there,

I applied for PPI refunds back in 2012 via a PPI claims company and did receive payouts from certain companies such as Lloyds TSB, Barclays and Virgin bank. However I’ve received other calls from different PPI companies recently (as has everyone) and have been told that even though I’ve received payouts in 2012 the banks/companies could still owe me money as may have under paid me. I appreciate a few years have passed since I received the refunds and policies/procedures have moved on so was wondering if this was correct, and whether it would be beneficial to go back to those banks to see what they say? Thanks

[Deleted User]

It's not true.

dunstonh

However I!!!8217;ve received other calls from different PPI companies recently (as has everyone) and have been told that even though I!!!8217;ve received payouts in 2012 the banks/companies could still owe me money as may have under paid me.

This is becoming a bit of an FAQ. It is a bit of a scam but like many scams it has an element of truth behind it.

Some banks are going back over old complaints and reviewing decisions. For example, Lloyds are looking at comparative redress payouts and changing some of those to full refunds. Barclays have been bringing old archived data back onto their systems which is increasing the payment history.

So, that is the element of truth. However, they are doing this automatically and contacting those affected by it automatically. There is no need for a CMC or you to be involved.

And the reason why the CMC want to do this is that if they get their name attached to your file and the bank pays an extra amount, that CMC can claim a percentage against it. Despite doing absolutely nothing for it.

Its a nice little earner for them for no work whatsoever.