all was not lost! PPI decision turnaround!

Deedee73

Hello all,     I am just popping in to say what happened over the weekend.
I'd totally forgotten I had complained about the decision made about a ppi insurance policy I had on an overdraft in 1998!  (Complaint made over 7 years  ago!) 
Thought "oh well,  that's  that then!"  BUT!  
This letter advises they reviewed the complaint and have now upheld my complaint.
the offer to redress included all ppi premium paid, the compound interest, statutory interest - tax. 

I have accepted, and await the award!       The wheels are still turning!    



 

brettcta

Cool. A number of banks are still reviewing decisions, especially where complaint handlers may have had a number of complaints overturned at FOS in order to avoid the cost or, ultimately, FCA sanctions.

if you used a claims management company, expect a letter from them shortly.

[Deleted User]

Deedee73 said:

Hello all,     I am just popping in to say what happened over the weekend.
I'd totally forgotten I had complained about the decision made about a ppi insurance policy I had on an overdraft in 1998!  (Complaint made over 7 years  ago!) 
Thought "oh well,  that's  that then!"  BUT!  
This letter advises they reviewed the complaint and have now upheld my complaint.
the offer to redress included all ppi premium paid, the compound interest, statutory interest - tax. 

I have accepted, and await the award!       The wheels are still turning!    



 

You don't normally get compound interest only the 8% simple that the FOS say 
Remember you will pay tax on the interest element of the refund, this can be reclaimed provided you are not over your savings threshold. Do not declare your entire refund on the R40 form which you can do at the end of the tax year

Deedee73

Latest update on this!!

In the acceptance form online, it said 2 weeks for monies to be received.
2 weeks passes,  no monies.
Call...   told it's 4 weeks.
4 weeks passes,  no monies.
Call....   told delays due to covid...
Now the date I accepted,  they were aware of covid,  and therefore should have advised potential delays.
They knew about covid when offering settlement,  this is not acceptable,  there was no mention of delays on the original 2 week acceptance,   or the first  4 week Call,  Its now 5 weeks since acceptance......  still no monies.

I think 24yrs is long enough,  I'm so done with people's and companies absolute rubbish excuses, and delays...  its just not on,   I'm exhausted with it,  constantly having to chase what's owed,  being made to feel like a moaner by voices on the phone ( I'm nice, polite, never lost my crapola with any of these companies)   but its just not fair.

brettcta

Life’s not fair.

it’s bonus money and as per other threads, people have been waiting months for pay outs. Their 2 weeks would’ve been when they had a full complement of staff working these departments, typically 100’s of people. 

They’ll virtually all be down to skeleton staff now, add in the delays caused by staff working from home and it’s no wonder it’s taking longer.

relax, accept it’s not going to be arriving tomorrow and just carry on with your life, your cheque won’t be too much longer.

dunstonh

I think 24yrs is long enough,  I'm so done with people's and companies absolute rubbish excuses, and delays...  its just not on,   I'm exhausted with it,  constantly having to chase what's owed,  being made to feel like a moaner by voices on the phone ( I'm nice, polite, never lost my crapola with any of these companies)   but its just not fair.

As much as it is easy to dislike banks, they are running with severe staffing issues and centralised departments have suffered significantly.

If you have waited 24 years, then a few more weeks is not a problem.   Plus, the calculation for interest is better than anything else you can get with savings accounts. So ,in a way, the longer it is, the better.