PTSB ptsb withdraws appeal to Supreme Court on trackers; CBI taking enforcement action

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Raging Bull

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PTSB are currently seeking to raise 400 million in share issue. HAe look at prospectus as it should highlight this tracker issue at a risk, They would be obliged to comment on it, You may get more information that way
 

Clint Westwood

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I received a letter from PTSB last week saying that I should hear of the outcome no later than the 6th of May. Still over 3 weeks away though. Very stressful. I agree it is a disgrace - They know exactly who is impacted and have done since early 2009. The Government and Central Bank are a disgrace too for allowing this to drag on for as long as it has.
Did you contact them in the last few weeks PTSBCase, was just wondering how come you received a letter from them
 

PTSBCase

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Hi
Did you contact them in the last few weeks PTSBCase, was just wondering how come you received a letter from them
Hi clint Westwood. I had made a complaint to them in feb., so I'm guessing the letter they sent last week is just to say they are still investigating etc. I'll keep you posted if I hear of anything else.
 

taldar

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They will keep you updated if you complained in the last 6 weeks but not the last 6 years! Not a word so far. Seriously pee`d off at this stage
 

taldar

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Just heard from a source this may take another 2 months until it is fully resolved. My take on it though is that it means everybody will be fully refunded etc.. within that timeframe.
 

GiganticLamb

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Looks like your source was correct Taldar.I received my letter this morning telling me that the investigation will not be completed in the timeframe initially given.
 

matan

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I didnt get letter yet. Anxiously waiting for the post each day and checking this forum. Its a disgrace we are paying so much above what we should each month when its been confirmed we were wronged. Gregory and Gigantic Lamb did ye write to PTSB asking for update since the news broke 5th Feb?
 

Gregory

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Yes i submitted my complaint after 5th Feb.
I think they are keeping people posted who submitted complaints after 5th Feb 2015, and not to those who have had an ongoing case for years.
Weird.
 

GiganticLamb

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I've been in constant contact for updates.I get the same responce everytime that I ring though.Im probably doing it to keep the pressure on them .
 

phil

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I contacted PTSB today and they are saying that CB gave them 3 month to work on this review so they will be contacting people in May.
 

matan

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I'm going to write to PTSB today to ensure they are reviewing my case (which was with the FSO). Its been dragging on too long now, they could have at least written to us stating they were reviewing our cases and would be in touch but not a word. Cannot believe they are stating it is taking more than the 3 month period now to be in touch (as per Charlie Weston's article as quoted by Brendan). I am fed up with over paying on a mortgage every month for a house that is in negative equity when I could use that extra money on so many other things. Every month I see the direct debit coming out and it sickens me to think of the time that has passed (4 years last February since I initially made formal complaint) and still no word on an outcome. Disgraceful behaviour!! Remind me who owns this Bank again?!!!
 

katnia

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Hi, I'm new to this forum. I'm probably in the same boat as most of you, hoping to get tracker back after only being offered a variable rate when coming off a fixed rate early back in early 2009, when my documentation says it will revert to a tracker at the end of the fixed term. I had complained before but I was told I wasn't entitled to it, even though it now appears that I should have been. When the news of this central bank investigation broke early this year I had written to them again and asked them to re-examine my case given that the initial response to my complaint appears to now be factually incorrect. I have received a few 'holding' letters since saying that they are still investigating and it may be some time before I hear back - this is in line with media reports too. Then, out of the blue I got a letter saying that they hoped to get back to me at a specific date in May with a 'fair and reasonable' resolution, so I thought great - they will have an answer for me.
However, being the curious type, I rang them to see why we now suddenly had a date for an answer. Turns out that under the consumer protection code that at a certain stage of a complaint they have to give a date when the complaint will finally be dealt with, hence the letter giving the date in May. However, when speaking with the advisor it turns out that the date doesn't actually really mean anything because if the investigation is still not completed by that date they'll just write to me again given me a further update. So I would be of the opinion that anyone who got a letter saying they would have an answer by xx May 2015, this is just another holding letter where they have to specify a date even though they may not be able to have an answer for you by this date. Hope this helps some folks but this is what I was told by PTSB and it sort of makes sense to me.
 

matan

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Wrote to PTSB last Thursday. Got letter today basically stating they received my letter and the bank are doing a review (in the quickest time possible) and it is estimated it will be completed within three months, so i assuming August at this stage. Have to say im extremely annoyed at paying my high mortgage each month while this is ongoing!
 

elbo

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Just off the phone from PTSB and they said the investigation is very near completion and there will defnitely be a letter "with options" by the 29th of May (yes this year......) can anyone else confirm this??
 

PTSBCase

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Hi Elbo, Yes this was confirmed by other posters earlier today on another post "PTSB will take months to restore borrowers trackers". Fingers crossed we are nearing the end.
 

Clint Westwood

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Don't like the idea of having to wait another four weeks, was expecting a letter today or even tomorrow, also what could a letter arriving " with options" be. Seems straight forward to me what needs to be done.., put people's mortgages on to the tracker rate that they should have been on and reimburse the amount of interest that was overcharged.
 
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