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Take PPI refund or not?

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  • 14-08-2014 10:46pm
    #1
    joannaboyle
    Registered Users Posts: 3 ✭


    hi.
    myself and hubby having big fights with aib about ppi. basically when we took out mortgage the offered us ppi, we took it out but when 3 years later we went to check the criteria, they told us that only me who at the time was only earning 10,000pa was covered and hubby who was earning 40plus was not. Anyway we keep asking for original doc's, which they could not find. We involved the ombudsman and just got letter offering us half the money back.
    My questain is, do we take the money they offered or continue with the ombudsman.
    thanks in advance


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    #2
    SBarrett
    Registered Users Posts: 160 ✭✭SBarrett


    How much did you spend in PPI?
    How much has been offered?
    What do you think you will get with the ombudsman?
    How long will it take to get to the ombudsman?


    Steven


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    #3
    Ciarrai76
    Moderators, Recreation & Hobbies Moderators, Regional South Moderators Posts: 9,367 Mod ✭✭✭✭Ciarrai76


    just to let you know, the Ombudsman will take AGES to sort it out! I was almost a year with them & Avantcard, and eventually settled, but it really was very very drawn out & slow. If you think the offer is reasonable, take it.


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    #4
    joannaboyle
    Registered Users Posts: 3 ✭joannaboyle


    SBarrett wrote: »
    How much did you spend in PPI?
    How much has been offered?
    What do you think you will get with the ombudsman?
    How long will it take to get to the ombudsman?


    Steven

    hi, we spent just under 3500euro and they are offering 1500euro.
    we got letter from ombudsman 2 days before letter from aib saying we have 2 options, one was mediation and one was a full investigation. not sure how long they take


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    #5
    Ciarrai76
    Moderators, Recreation & Hobbies Moderators, Regional South Moderators Posts: 9,367 Mod ✭✭✭✭Ciarrai76


    joannaboyle wrote: »
    hi, we spent just under 3500euro and they are offering 1500euro.
    we got letter from ombudsman 2 days before letter from aib saying we have 2 options, one was mediation and one was a full investigation. not sure how long they take

    They will usually offer mediation first, but it will only happen if both parties, ie you & bank, agree to it. If one or both don't agree to mediation, then it goes to a full investigation. But be prepared to be waiting for a response for a fairly long time. They won't give you a timeframe, and they will never tell you whether you have a case or not. It took about 10 months from when I first put in my complaint with the ombudsman to when I got an offer of settlement from Avant Card. I heard that the ombudsman is snowed under with complaints, hence the long timeframe.


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    #6
    joannaboyle
    Registered Users Posts: 3 ✭joannaboyle


    Hi, just wanted to let people know that we held out and after getting a letter from the ombudsman to say that they wrote to aib asking for original documents, 1 week later, aib got back in touch to offer full refund. Happy days!!!!


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    #7
    Ciarrai76
    Moderators, Recreation & Hobbies Moderators, Regional South Moderators Posts: 9,367 Mod ✭✭✭✭Ciarrai76


    joannaboyle wrote: »
    Hi, just wanted to let people know that we held out and after getting a letter from the ombudsman to say that they wrote to aib asking for original documents, 1 week later, aib got back in touch to offer full refund. Happy days!!!!

    that's good news, well done :)


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