Help - Lloyds Partial Redress Offer

[Footynut]

I have today received final decs on 3 loans with Lloydstsb. One has been upheld but two are partial uphelds. Lloyds state that they believe i would have taken a monthly premium instead of a lump sum.
I am hoping your knowledge can help me:
The partial offers are for £2487.59 and £3458.23
I have received the cheques for these already.
Which course of action can i do?
1) Pay in the cheques for the partial upholds and then send a complaint into the FOS along the lines of i think i should have had a full uphold?
2)Or do i have to reject the offer and send the cheques back and then make a complaint to the FOS stating i think i should have had a full uphold. This could take 2 years though...
If i do scenario 1 could the FOS rule completely in favour of LLoyds and make me pay back the money.

I understand LLoyds are doing this a lot now so hopefully someone can provide advice on what to do.
Any guidance gratefully received.

[di30]

Re: Help - Lloyds Partial Redress Offer

You have so long to hold the cheques, but maybe give them 7 to 14 days max to get back to you, and ask why the partial offers and can they reconsider paying you the full redress.
Ask them for an explanation on the partial offers, you could email them and include the CEO in the email or email complaints and include the CEO.

[L'pool64]

Re: Help - Lloyds Partial Redress Offer

Good evening,

I have some experience of this type of partial payout, so if it helps here are my thoughts.
These companies have taken a conscious decision to adopt this stance on PPI claims: I personally think it is disgusting but this is how they are settling claims, end of story. Provision for this method of payment is in the rules. Many people won't really have looked at the workings out of their settlement, they will just take the money........, glad and surprised, so the likelihood of statistics from the regulators, on case overturns, is very small.
So as you say, if you take the case to FOS, you will wait up to two years on a result, which could very well be the same as the one you have now, or again, as you say you could lose.
At the minute you have cheques totalling circa £6,000 in your hand. Can you afford to give these monies up? Additionally, you have just got to look at the stories that are printed here to know how difficult it is for some people to get as far as you have; some companies will do anything but pay up. £6,000 will pay a lot of bills, buy some nice breaks and make life considerably easier.

Di's suggestion is a good one, send a letter to the CEO, see what they have to say and, make your decision then.

I hope this helps and if you decide "a bird in the hand etc" ......please enjoy.

:beagle: