PPI and Court

[pompeyfaith]

Hiya PT,

This question is for you bearing in mind your knowledge of court.

I have a complaint regarding missold PPI on 9 Loan Agreements I originally complaint to the bank and after my third letter they upheld but I refused their offer as it was well sort of my calculations and they only offered redress on 8 of the agreements.

So I refereed the matter to the FOS and after 18 mths they too upheld the complaint but they would not disclose what the offer from the bank was but still wanted me to sigh an acceptance form.

This I consider to be totally unjust and I told them so.

The adjudicator is now looking into it further lol

Being as both the bank and the FOS have upheld the complaint but im no nearer to knowing what the offer is so I can decide whether to accept or not I,m considering whether to now take this to court.

My question is what do you think my chances of winning are.

The bank will not take me to court for the outstanding loan amount because there is a 'vis a 'vis' and they owe me more than I owe them so are quiet happy to sit on it until my limitation period runs out.

They are now using DCA's knowing that this is with the FOS and is fairly disputed

Besides if they did take me to court they know I would counter claim.

This claim is quiet a considerable amount of money and has taken 2 yrs thus far

I would like to go to court with this but the barrier is the costs if I lose as it would be a fast track case as its well over £5000.

Could I take them to court with just one agreement via small claims to test the water so to say and if I win go back again with the other 8.

Any assistance you can give on a way forward would be much appreciated

PF

[pt2537]

Re: Question for PT regarding PPI and Court

Hiya PT,

This question is for you bearing in mind your knowledge of court.

I have a complaint regarding missold PPI on 9 Loan Agreements I originally complaint to the bank and after my third letter they upheld but I refused their offer as it was well sort of my calculations and they only offered redress on 8 of the agreements.

So I refereed the matter to the FOS and after 18 mths they too upheld the complaint but they would not disclose what the offer from the bank was but still wanted me to sigh an acceptance form.

This I consider to be totally unjust and I told them so.

The adjudicator is now looking into it further lol

Being as both the bank and the FOS have upheld the complaint but im no nearer to knowing what the offer is so I can decide whether to accept or not I,m considering whether to now take this to court.

My question is what do you think my chances of winning are.

The bank will not take me to court for the outstanding loan amount because there is a 'vis a 'vis' and they owe me more than I owe them so are quiet happy to sit on it until my limitation period runs out.

They are now using DCA's knowing that this is with the FOS and is fairly disputed

Besides if they did take me to court they know I would counter claim.

This claim is quiet a considerable amount of money and has taken 2 yrs thus far

I would like to go to court with this but the barrier is the costs if I lose as it would be a fast track case as its well over £5000.

Could I take them to court with just one agreement via small claims to test the water so to say and if I win go back again with the other 8.

Any assistance you can give on a way forward would be much appreciated

PF

PF,

Im not sure that you would retain small claims protection if im honest, so there is a real risk of costs if you lose. Id look at Black Horse v Speak for evidence of the risks as the Defendants lost very heavily.

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.

Have the FOS given any reason for the secrecy ? i honestly cant see how the offer which you need to accept can remain secret

Id press the ombudsman hard, but be aware of limitation though, dont let it expire.

AS for prospects of success, i wouldnt even begin to advise on the basis i simply dont have enough information to assess the prospects of success.

[Angry Cat]

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

[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

[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

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

[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!

[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

[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

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

[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

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

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

[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.

[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: