peterusnguyen's Space http://peterusnguyen.posterous.com Most recent posts at peterusnguyen's Space posterous.com Tue, 13 Mar 2012 04:05:00 -0700 Lloyds Group see practically 11500 ppi claims in 6 months http://peterusnguyen.posterous.com/lloyds-group-see-practically-11500-ppi-claims http://peterusnguyen.posterous.com/lloyds-group-see-practically-11500-ppi-claims With the figures released right now by the Ombudsman it shows that Lloyds group have had practically 11500 ppi claims against it for the final 6 months of 2011.

This is a organization that set aside £3.2 billion as portion of their accounts recently and declared a loss for the year of £3.five billion.

The exciting point is that out of these complaints a lot more than 90% were upheld in favour of the consumer which brings me to ask the next question of Lloyds.
The UK Tax payer has a 42% stake in Lloyds and they have recorded a £3.5 billion loss so what is becoming performed about it by the government to shield the UK taxpayer?

Right after three situations just about every corporation has to spend £500 to the Ombudsman for each case they get so why is Lloyds not reviewing their policy of complaints handling when this is adding to their expenses?

If these 11500 circumstances had not gone to the Ombudsman then Lloyds could have saved £5750000 in charges alone and with the average case paying out £2500 to the consumer it just does not make sense to spend these fees to the Ombudsman when the outcome in over 90% of the situations is in favour of the consumer.

As a UK taxpayer this is concerning that this bank thinks it proper to spend this quantity in charges for a thing it very hardly ever wins and I as a single do not see any economic sense so what are the government thinking when they appear at these figures? Certainly they must ask some concerns of Lloyds as I can't see any rationale behind paying these charges to the Ombudsman.

PPI claims are right here for at least an additional three years in my opinion and if Lloyds group continue in this vain then their final bill for dealing with missold ppi could be much far more than the £3.2 billion they have set aside to deal with it so surely someone inside the group must take note and re- evaluate the groups position for dealing with ppi complaints.

Lloyds bank also had 2788 complaints against it for banking and credit and this is just the bank not the group and when you add this to the fees they have currently paid you can see why it does not make economical sense for them to continue dealing with complaints in the manner in which they at the moment are carrying out.

Finally with this level of figures of complaints for one particular group what is the FSA carrying out about it as it is clearly a dilemma and once again in my opinion clearly shows that customers are not becoming treated fairly whatever their complaint is with Lloyds group. One thing has to be accomplished specially for ppi claims as this is not great for the consumer or the monetary services sector reputation.

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