PPI Payment/Claims Company

BetiMair

Around 5/6 years ago I used the template letter from MSE to contact Lloyds Bank regarding PPI that I thought I had on a graduate loan 20 years ago. They wrote back and said that I didn't have PPI. In 2016, I went with a claims company, to look into other cards/loans that I had. Ironically, none of these had PPI however they came back to me last week to say that I had PPI on the Lloyds loan which has now been paid into my account. I have no issue with paying the claims company as they have got further than I ever did however I am smarting a little as I had actually gone down the route of investigating it myself however hit a brick wall. Can I challenge Lloyds and ask that they pay me the equivalent of the claims company bill? Has anyone else had a similar experience? Thanks in advance for your advice. 

dunstonh

Can I challenge Lloyds and ask that they pay me the equivalent of the claims company bill?

No.

The reason this happens is that the banks started bringing back old archived paper records that was not available for searches back onto their systems.     So, people were encouraged to make enquiries again towards the last few years.  You could have done that free of charge to the bank.   However, you decided to pay a company to use the free of charge system.

Has anyone else had a similar experience?

Yes they have and the ombudsman are consistent on this.  Banks/firms do not have to pay for a company that you choose to employ to use the  free of charge process.

brettcta

There’s certainly nothing stopping you asking the bank, I know we (the bank I work for in PPI) have given some GOGW’s in the past for exactly this so it’s by no means a firm ‘no’ but keep your expectations low and you won’t be disappointed when they tell you to clear off (but you might drop lucky).