PPI Responses post Covid19
in Reclaim PPI & other insurance
5 replies 141 views
Is there a deadline for responding and settling upheld complaints post COVID? Lloyds said in December 2020 I should get to know the outcome of my complaint by March 2021 LATEST, but when I’ve checked end of April as haven’t heard anything, they’ve told me no further lead time, I’ll get to hear, when I get to hear!!
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However, the FCA allowed all lenders to ignore DISP rules in relation to this 8 week deadline in late 2019 after the influx of pre-deadline complaints. So in essence, they can ignore that deadline.
Whilst it is true that the 8% statutory interest is still being added to an upheld claim it's not really satisfactory to allow this to drag on as some consumers will change emails, move house, and some will die and the lenders will not pay out on a proportion of these as a result...
The problem (and the reason for the dissatisfactory service) is the sheer number of chancers and liars who submitted PPI complaints, often spurred on by the CMCs when they knew full well they never had it (I believe from data given by dunstonh previously, as many as 50% of complaints are from people who didn't have it) or took it out willingly and then lied about not knowing/not wanting it, clogging up the system for the genuine miss-sold cases. Not helped of course by lenders paying out so much early on (and auto-payments) to get rid of the backlog.
It‘s now ticking over again with Plevin fact finds from solicitors trying to dip their hand in again for people who have either had full payouts previously or, as above, have never had PPI and have been told this repeatedly via every CMC they’ve employed previously.
these are what’s clogging up the system and why even now, 18+ months after the deadline, we’re still seeing big delays all throughout the life cycle of a complaint.
it's spelt d-e-f-i-n-i-t-e-l-y
there - 'in or at that place'
their - 'owned by them'
they're - 'they are'
it's bought not brought (i just bought my chicken a suit from that new shop for £6.34)