PPI and Court

[pompeyfaith]

Re: PPI and Court

Greetings All

Could someone check the letter below for me and make adjustments where needed

Thank You.

Service Review Team
Financial Ombudsman Service
South Quay Plaza
183 Marsh Wall
London 6th August 2010
E14 9SR

Formal Complaint with complaint No

Dear Sir/Madam,

It is with great regret that I have to lodge this Formal Complaint with you, but I believe the reasons below are just and I expect this complaint to be fully investigated.

As you know this complaint was referred to you in December 2008 after the Co-op Bank (The Bank) failed to settle this complaint which I sent to them in July 2008.

This complaint centred around their draconian offer which only offered redress on 8 policies instead of the 9 that were taken out.

Their reason for not offering redress on the first policy taken out in March 1999 was because they said they had no proof that payments were made to this loan and policy. That excuse I found hard to believe; I considered it to be a damage limitation exercise because I also had a long standing joint current account with the bank and the direct debit was paid from that account every month without fail indeed they made sure of this even if it put me overdrawn due to funds being a few days late reaching the account.

Furthermore do you really think they would offer me a further 8 loans if I defaulted on the first one?
I think not.

After explaining this to you, which I should not have done as it’s not hard to work out I was told that they will now offer redress on this first PPI policy.

At no point was I told how much the redress would be for this or the other 8 policies but I was expected to accept the offer whatever that offer was by signing an acceptance form.

Please explain how I can sign to accept an offer when I do not know what the offer is.

THAT IS AKIN TO GOING TO BUY A CAR AND THE SALES MAN SAYS, GIVE ME YOUR MONEY THEN I WILL GO FIND YOU A CAR, BUT IM NOT GOING TO LET YOU SEE IT BEFORE YOU PAY FOR IT.

YOU WOULD WALK AWAY WITH YOUR MONEY IN YOUR POCKET WOULDNT YOU SO WHAT’S DIFFERENT HERE?

I have had words with a solicitor and he says the same and advised me to not sign anything unless I know and am happy with what I am signing for.

Furthermore I will be taking this matter up with my MP Mr David Willets and the FSA and asking them to investigate this matter.

Please tell me; is this draconian measure within your guidelines and if it is, explain why because it goes against all fairness to the consumer and I thought your goal was to see that fairness was in place between the financial industry and the consumer and it is after all the reason that complaints are brought to you because fairness was lacking.

Furthermore by reading your website I get the impression you do apply the law but only when it suits you or the financial organisation being investigated.

ARREARS

You stated in your offer letter to me that any offer will be less any arrears on the current loan.

Please explain to me why this is so when it is quite clear from above that it was the bank that allowed this complaint to feaster for so long had they offered the right redress first time around I would have accepted it and in turn not allowed the arrears to get so high in truth it is they that should be compensating me for the unjust amount of time this complaint is taking to resolve.

Furthermore I fail to see why I should be paying this current loan to the bank as there is a clear and valid dispute.

Yes I owe them money but they too owe me money so you see under the UTTRC 1999 there is a ‘vis-à-vis’ and the money I owe them is my safeguard against what they owe me.

DEFAULT NOTICES AND HARRASMENT

The bank has constantly harassed me via phone and letters of which I have quite a stack. They have not just sent one non-compliant Default Notice but three all non-compliant due to the dates and no time aloud for service so by the time they reach me I do not have 14 days to comply.

After I received the first one I wrote to the bank explaining this and I was expecting a compliant one to follow but this did not happen instead over a period of time I got a further 2 non-compliant ones.

This smacks of mismanagement and a serious lack of staff training if they and it appears so do not know the laws governing consumer credit agreements.

Given the above it is totally unjust that I as a consumer should be treated in such a way. Wrecking my credit file with Defaults whilst there is a clear dispute is unjust and not fair.

Whilst you cannot uphold the law which I agree with because only a Judge in a court of law can do that you can advise them to play fair.

DEBT COLLECTION COMPANIES

Whilst these accounts have been in dispute and referred to you the banks has terminated both the current account and loan account and passed them to debt collectors this is against oft guidelines whilst they remain in dispute and furthermore they have been unlawfully rescinded due to the Defaults Notices not complying with the consumer credit act. Had you done your job right and advised the bank not to take such action whilst you investigate the complaint none of the above would have happened.

I refer you to your own guidance on debt collection as quiet clearly it has not been followed:-

http://www.financial-ombudsman.org.u...ng-note.html#3

It would also not have happened if the bank had a clear understanding of statute law, it beggars believe the way that the Financial Ombudsman Service has allowed this complaint to feaster for so long causing me and my family to suffer unnecessary stress and anxiety to the point where I was admitted to hospital in march 2009 due to a heart attack.

This I informed you off and expected you to escalate this complaint whilst I was in a period of recovery but this has not happened.

COMMUNICATION

Please explain why when my complaint was waiting to be dealt with I received letters on a regular basis every 8 wks in fact but soon as it was being seen to those update letters stopped and instead you chose to communicate via phone I have explained on many occasions due to the stroke I have difficulty remembering what had been said because of short term memory this has led me to be in a confused state after the call.

You phoned me with an increased offer the phone given my condition is not the right method to use for such an important call you should have written to me.

If you need to communicate with me it must be via letter or email so I have a record of what was said so it gets the right attention and actioned correctly thus saving my time and yours.

Finally I hope you can give the points raised in this letter your full and urgent attension and communicate your response via letter.

Yours Sincerely
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Hiya PT,

Not sure if it is as you say stern enough.

PF

[pompeyfaith]

Re: PPI and Court

Greetings Nellie

Nice to see you here landy hehe

Take care
PF

[nelliewops]

Re: PPI and Court

Hi PF,

It's Landy_alert here - under my LB alter-ego of Nelliewops

Am subbing with interest as you know I too have had/am having probs with the FOS over PPI issues...................wishing you all the best with yours as always!

Off now to start my own thread here on this.

Take care,

Nellie/Landy x

[dogtired]

Re: PPI and Court

This is exactly the same situation as I am in. Welcome have offered me a refund of PPI plus 8% on all loans within the 6 year statutory timescale, but I want them to pay up on another 2 also.

The FOS tell me it has gone to adjudication. But like you, they say that they don't have information on the exact deal that Welcome have thus far offered. They DO say however, that the offer is within FOS guidelines, as it pertains to the first loans they have made an offer on.

Due to Welcome's intransigence, I am now not prepared to accept 8%. I want compounded interest at their contractual rate in restitution, since I have been deprived from that cash, and would have not needed their last topup had they never mis sold the PPI in the first place.

And like you, I cannot under those circumstances afford to risk initiating court proceedings... CI brings this into the realms of between £50-60K. (and rising fast.)

However, since Welcome are now aware of all the arguments I would use in court, all contact from them has dried up, barring their silly default notices that they keep posting at irregular intervals. I really don't see it as being a realistic scenario for them to have a pop. So maybe this will drag on out until Welcome's administrators try to play silly buggers.

Like Lutterbugs I have had the same experiance with "Welcome" finace and "won" a ppi claim almost a year ago, all the came was what looked llike a new aggrement with no dates on it and there was no copy me to keep nor was it signed by them.
FOS said it was within the guidelines>
I had already told them that when I moved house I had no indication that this loan had been transfered to this house.
Following advice rom a number of members on this site I sent back to FOS with a claim for this to be unenforceable it is now eight months from this and I have not had anything (not even the usual default notice since March!):tinysmile_aha_t:

[LuggerBugs]

Re: PPI and Court

This is exactly the same situation as I am in. Welcome have offered me a refund of PPI plus 8% on all loans within the 6 year statutory timescale, but I want them to pay up on another 2 also.

The FOS tell me it has gone to adjudication. But like you, they say that they don't have information on the exact deal that Welcome have thus far offered. They DO say however, that the offer is within FOS guidelines, as it pertains to the first loans they have made an offer on.

Due to Welcome's intransigence, I am now not prepared to accept 8%. I want compounded interest at their contractual rate in restitution, since I have been deprived from that cash, and would have not needed their last topup had they never mis sold the PPI in the first place.

And like you, I cannot under those circumstances afford to risk initiating court proceedings... CI brings this into the realms of between £50-60K. (and rising fast.)

However, since Welcome are now aware of all the arguments I would use in court, all contact from them has dried up, barring their silly default notices that they keep posting at irregular intervals. I really don't see it as being a realistic scenario for them to have a pop. So maybe this will drag on out until Welcome's administrators try to play silly buggers.

[Angry Cat]

Re: PPI and Court

FYO:
http://www.bbc.co.uk/news/business-10774616

[pompeyfaith]

Re: PPI and Court

Arrh wife wants PC so ill log in with my mobile phone seeya in a bit.
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Thank You AC your advice is well accepted in my quarters.

PF

[Angry Cat]

Re: PPI and Court

Pompeyfaith, I sought advice on the matter.
The advice that I have provided to you was given to me by an emminent QC.

AC
X

[pompeyfaith]

Re: PPI and Court

PT,

Thank you your advice is spot on and greatly appreciated

PF
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This is now becoming clear in what I have to do, it was confusing me somewhat in which way to turn.

PF
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May be worth me going to my local MP's surgery and bring this up with him as I know I am not the only one having to deal with this draconian acceptance forms.

PF

[pt2537]

Re: PPI and Court

Thank you PT and AC,

This is what I thought I suppose I just wanted that confirming, I have on many occasions invited the bank to start court proceedings but they do not want to play ball they are quiet happy for the DCA's to harass me in the hope I will pay the loan off which I will not do as its my safe guard.

I just cannot understand the FOS reasoning perhaps I should write to them asking them to explain why they expect me to sign an acceptance form that is open ended

PF

i would be putting it very sternly to the FOS, in terms that, how the heck can you accept something that you do not know what you are accepting?

Its like going to buy a car and the sales man says, give me your money then i will go find you a car, but im not going to let you see it before you pay for it.

you would walk away with your money in your pocket wouldnt you, and whats different here?

The ombudsman need to tall you the terms of the banks offer, or its a mockery of their service.

[pompeyfaith]

Re: PPI and Court

Thank you PT and AC,

This is what I thought I suppose I just wanted that confirming, I have on many occasions invited the bank to start court proceedings but they do not want to play ball they are quiet happy for the DCA's to harass me in the hope I will pay the loan off which I will not do as its my safe guard.

I just cannot understand the FOS reasoning perhaps I should write to them asking them to explain why they expect me to sign an acceptance form that is open ended

PF
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Thank You AC i have taken it down until tomorrow I will write to my solicitor who is my cousin and ask him to send a letter to the FOS seeking them to explain there actions.

PF

[Angry Cat]

Re: PPI and Court

spot on i think

[QUOTE] by 'The A Team':

Don't you love it when a plan comes together!
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pompeyfaith, please remove your reference number form the above letter!

[pt2537]

Re: PPI and Court

lol thats what i was saying, it seems strange my friend and it seems your solicitors agree

[pompeyfaith]

Re: PPI and Court

I would suggest that the FOS is frankly out of order, i do not see how you can possibly accept an offer that you do not know, you could not contract on such terms and the offer needs to be clear and all its terms understood before acceptance can take place as a general rule.

Well that is exactly what I was told by a solicitor

[pt2537]

Re: PPI and Court

Many of us are in a similar situation Re: mis-sold PPI

My opinion, take them to court; risky...

The better option, is to wait for them to show their cards, and then counter-claim.

Caution re: signing any acceptance form with the FOS.

Only my opinion, shoot me down in flames if I am incorrect.

AC

spot on i think