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  • FIRST POST
    • HBARON
    • By HBARON 16th Apr 18, 12:21 PM
    • 1Posts
    • 0Thanks
    HBARON
    PPI- Under payments
    • #1
    • 16th Apr 18, 12:21 PM
    PPI- Under payments 16th Apr 18 at 12:21 PM
    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 Iíve received other calls from different PPI companies recently (as has everyone) and have been told that even though Iíve 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
Page 1
    • zx81
    • By zx81 16th Apr 18, 12:23 PM
    • 18,549 Posts
    • 19,811 Thanks
    zx81
    • #2
    • 16th Apr 18, 12:23 PM
    • #2
    • 16th Apr 18, 12:23 PM
    It's not true.
    • dunstonh
    • By dunstonh 16th Apr 18, 12:51 PM
    • 94,460 Posts
    • 62,395 Thanks
    dunstonh
    • #3
    • 16th Apr 18, 12:51 PM
    • #3
    • 16th Apr 18, 12:51 PM
    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.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. 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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