Have you been underpaid for your PPI reclaim?
Comments
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I have to say I am quite dismayed at the negativity around this, so thought I would report back my success to you.
Your success is not related to the subject of this thread.So don't anyone tell me that this doesn't work, and it's not worth doing, and it's all a non-story - £5.8k says it isn't.
£5.8k received but not because of the info on this thread.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.0 -
until I read about the comparative redress argument. So I re-checked my paperwork, and, sure enough, Lloyds had used this on some, but not all, of my loans. So, despite reading the negative comments here, I wrote again.
They have offered me a further £5,800.
Can you explain exactly why you feel this is not the case, Dunstonh?Your success is not related to the subject of this thread.
The OP claims that he went back to the Bank complaining about Comparative Redress and that his complaint was upheld.
How is that not related to the subject of this thread?0 -
I read it, and forgive me if I have missed a bit, that he went back to them and they paid out more. However, there was no mention of comparative redress being used in the original redress payments. Indeed, the size of the redress suggests it was not.
This thread may have promoted further contact that resulted in another payment but the actual subject matter of comparative redress does not appear to be the reason for the extra payment.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.0 -
Anyway, I was over the moon, as you can imagine, until I read about the comparative redress argument. So I re-checked my paperwork, and, sure enough, Lloyds had used this on some, but not all, of my loans. So, despite reading the negative comments here, I wrote again. I reckoned that they owed me a further £1.8k.
This week I received a letter, and some cheques.
They have offered me a further £5,800.
Although, I'm not sure where the negative comment thing comes from....Shampoo? No thanks, I'll have real poo...0 -
I was paid out on 3 PPI loans last year by Lloyds who dealt with my claim quite quickly and I had the cheques within 8 weeks of sending my form in.
After seeing the article on comparative redress I sent another form in June this year and was advised I would have a decision by 13 August -approx 6 weeks. They acknowledged that this was a re-assessment claim. Despite several telephone calls and letters I have still not had a decision. For the last 4 weeks they keep telling me the same thing that my case has been escalated and awaiting a final decision. They are now 6 weeks over their standard deadline time to give a decision.
They have actively encouraged me to put a complaint to the FOS which I have now done. It may be that because the bank has split - Lloyds and TSB since last year which is causing more delays but they seem to be using delaying tactics which makes me believe I am due for more money and they are just hoping I will go away!. Has anyone else put a re-assessment claim in?
Can anyone offer any advice?
I will keep you posted.
Ms Manchester0 -
Ms_Manchester wrote: »I was paid out on 3 PPI loans last year by Lloyds who dealt with my claim quite quickly and I had the cheques within 8 weeks of sending my form in.
After seeing the article on comparative redress I sent another form in June this year and was advised I would have a decision by 13 August -approx 6 weeks. They acknowledged that this was a re-assessment claim. Despite several telephone calls and letters I have still not had a decision. For the last 4 weeks they keep telling me the same thing that my case has been escalated and awaiting a final decision. They are now 6 weeks over their standard deadline time to give a decision.
They have actively encouraged me to put a complaint to the FOS which I have now done. It may be that because the bank has split - Lloyds and TSB since last year which is causing more delays but they seem to be using delaying tactics which makes me believe I am due for more money and they are just hoping I will go away!. Has anyone else put a re-assessment claim in?
Can anyone offer any advice?
I will keep you posted.
Ms Manchester
See my post on the "reassessment of PPI claims" thread. To which I will add, I hadn't realised yours was a comparative redress case. But the situation is that it is not black and white. If they have offered you comparative redress then they will have explained why they were not offering you full. If you disagreed then the time to dispute it would have been then, giving your reasons for doing so. If you returned an acceptance form then it would have been an acceptance of their offer as a full and final settlement. There is therefore on the face of it little point in going back now and disagreeing with the comparative redress decision.
That said, Lloyds have had some bad press over their use of comparative redress, so they may rereview the matter voluntarily. But there isn't anything you can do to force them I am afraid.
As for the thing about going to FOS, most of the big banks (and FOS itself) use call centre staff who are not trained financial services professionals. This is their default answer to everything if you are not happy and they don't know what to do to help you. Unfortunately, it is not an option in this instance.0 -
Ms_Manchester wrote: »
After seeing the article on comparative redress I sent another form in June this year
You know asking the same question every couple of days is not going to get you a different answer no matter who responds!
You gave no impression in your other posts that you asked for a re-assessment of your PPI redress on the basis that you were offered and accepted Comparative Redress, but the answer is fundamentally the same.
There is no set regulatory period for "re-assessment" requests. You have already accepted the original "full and final" redress offer and the Bank are under no obligation to respond within a set period to your request that they re-calculate your redress.
Unless the Bank agree in writing FOS will not be able to accept your "complaint" referral.
That does not mean you will definitely fail in your quest for more money from the Bank, but your sense of entitlement is a little off-base if you believe you can somehow get the Ombudsman to force the Bank's hand in this circumstance.0 -
Ignore this latest posting and wait for the Lloyds response. There is little point referring to FOS even if a case has gone over the 8 week deadline, this is one of the problems with the system that people send it off after 57 days and FOS will just refer back to the seller to find out what is happening.
There is no delaying tactic they are understaffed and incompetent, to have a delaying tactic you need to have an overall plan and most/all of the banks etc just chug through the cases day by day and tick them off on the spreadsheet. All that stuff about 'full and final' 'no obligation' and 'in writing' just ignore it. You have asked for the case to be re-assessed, they are re-assessing it because they have been caught fiddling with the figures0 -
addedvaluebob wrote: »Ignore this latest posting and wait for the Lloyds response. There is little point referring to FOS even if a case has gone over the 8 week deadline, this is one of the problems with the system that people send it off after 57 days and FOS will just refer back to the seller to find out what is happening.
There is no delaying tactic they are understaffed and incompetent, to have a delaying tactic you need to have an overall plan and most/all of the banks etc just chug through the cases day by day and tick them off on the spreadsheet. All that stuff about 'full and final' 'no obligation' and 'in writing' just ignore it. You have asked for the case to be re-assessed, they are re-assessing it because they have been caught fiddling with the figures
I think to advise more accurately we need to know the exact basis on which the OP feels that the bank have got their offer wrong. On the other thread, the OP mentions believing that they have got their calculations wrong. However, on this one she/he brings up comparative redress, which is not a calculation issue but a decision one. So is the dispute with the calculation or the decision?
As we know there are two approaches to redress where a loan complaint has been upheld. Full and comparative. Bearing in mind that the OP has presumably accepted a comparative redress offer, if she/he now wishes to go back and argue that they should have been given full then that should be destined to fail. The original offer was a full and final settlement. If the OP believes that the calculation is not a correct comparative redress figure then she/he can ask the bank to check it. However, if they come back and state that it is definitely correct then there's not really anywhere else to go. As per my previous post I can't see how the argument could be made that FOS rights exist.0
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