ppi fees

I received 2 ppi payoutd from Lloyd's bank. I have been now asked for fee's on these payments.  One for nearly £300 and another for £3000.  Is this correct? Why is Lloyd's bank asking for these fee's and can they do this?

Comments

  • brettcta
    brettcta Posts: 4,693
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    Lloyds aren’t asking for fees, it sounds like you’ve instructed a claims management company. What company name is on the letters requesting payment?
    helpful tips
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  • Did you use a claims firm like Gladstone Brooks or similar to complain about your PPI? If so, and you had a payout, you owe them their fee for posting off a letter for you.

    Firms typically charged 15-40% of a refund so the £300 is very normal, £3000 sounds a lot, implies a big PPI win and/or a huge fee %
  • dunstonh
    dunstonh Posts: 115,638
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    I have been now asked for fee's on these payments. 

    Lloyds do not make a charge on PPI redress payments.   So, you must mean someone else is asking you.

    One for nearly £300 and another for £3000.  Is this correct?

    We don't have access to what letter or information you have received.  So, we cannot say.

    Why is Lloyd's bank asking for these fee's and can they do this?

    As Lloyds do not charge, you are either being scammed or you are mixing up a third party with Lloyds.  For example, did you agree to employ and pay a claims company to use the free-of-charge complaints process?   Is the letter from them?


    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.
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