Latest Update on PPI Judicial Review - NO APPEAL - get your claims in......

[cappo]

Re: Latest updates on PPI Judicial Review and claims on hold

oh well guys i wonder if tommorow will be the day or do you all think it,s pie in the sky:tinysmile_aha_t:

[NLP]

Re: Latest updates on PPI Judicial Review and claims on hold

Lol!!! honestly, is that a serious question? The clue to what I used to do is on my signature and then a quick search here will tell you what I did do. Never worked for a CMC and never will do.

Interesting... i see there are many real sharpies on...

you say you recieved an email from the CSC.... only member firms get emails.

so... which firm are you connected to?
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Which CMC do you run/work for NLP?

None... but i fund about 5 of them.

[MBD23]

Re: Latest updates on PPI Judicial Review and claims on hold

oh well guys i wonder if tommorow will be the day or do you all think it,s pie in the sky:tinysmile_aha_t:

wishful thinking I suspect :tinysmile_hmm_t2:

[di30]

Re: Latest updates on PPI Judicial Review and claims on hold

A bit of news posted over at MSe, in regards of PPI complaints hits record high.

http://www.moneysavingexpert.com/new...m_campaign=box


Consumer complaints about controversial payment protection insurance (PPI) have reached record levels.
Figures today reveal a new high of 24,955 gripes made to the independent Financial Ombudsman Service in the three months to 31 December. This is up from 21,320 during the previous quarter (see the PPI Reclaiming guide).
More are being held up as firms refuse to co-operate amid an ongoing legal review brought by the British Bankers' Association (BBA), as revealed by MoneySavingExpert.com last year.
Their failure to co-operate is in breach of Financial Services Authority (FSA) guidelines which compel firms to deal with official protests.
The Ombudsman wants extra funding to help deal with PPI complaints, which account for half its workload.
PPI is designed to cover loan or credit card payments if you cannot work.
It has been engulfed in a mis-selling scandal in recent years and is now the single most complained about product.


More to follow on link above
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This as well from the FOS website........

http://www.financial-ombudsman.org.u...news/92/92.pdf

http://www.financial-ombudsman.org.uk/news/index.html

http://www.financial-ombudsman.org.u...ews/92/92.html

[MBD23]

Re: Latest updates on PPI Judicial Review and claims on hold

A bit of news posted over at MSe, in regards of PPI complaints hits record high.

http://www.moneysavingexpert.com/new...m_campaign=box


Consumer complaints about controversial payment protection insurance (PPI) have reached record levels.
Figures today reveal a new high of 24,955 gripes made to the independent Financial Ombudsman Service in the three months to 31 December. This is up from 21,320 during the previous quarter (see the PPI Reclaiming guide).
More are being held up as firms refuse to co-operate amid an ongoing legal review brought by the British Bankers' Association (BBA), as revealed by MoneySavingExpert.com last year.
Their failure to co-operate is in breach of Financial Services Authority (FSA) guidelines which compel firms to deal with official protests.
The Ombudsman wants extra funding to help deal with PPI complaints, which account for half its workload.
PPI is designed to cover loan or credit card payments if you cannot work.
It has been engulfed in a mis-selling scandal in recent years and is now the single most complained about product.


More to follow on link above
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This as well from the FOS website........

http://www.financial-ombudsman.org.u...news/92/92.pdf

http://www.financial-ombudsman.org.uk/news/index.html

http://www.financial-ombudsman.org.u...ews/92/92.html

doesnt really mean anything unfortunately, its only claims that previously would have been settled by the lender that havent been that are now being referred to FOS hence the numbers going up as advertising for new claims is going down, and claims that fos will also be unable to settle these themselves until the judicial review is over

im 100% sure as soon as the JR is over FOs will just advise everyone to go back to the lender for their final response before they will look further into it. Fos always take the route that means less work for themselves, the fos route at the moment is a waste of time

[pompeyfaith]

Re: Latest updates on PPI Judicial Review and claims on hold

Nothing on here:

http://www.hmcourts-service.gov.uk/cms/list_admin.htm

[MBD23]

Re: Latest updates on PPI Judicial Review and claims on hold

In 2009-10 it upheld 89% of the PPI complaints that came its way.
Since then, however, the apparent success rate for PPI complaints has been falling steadily, with just two-thirds upheld in the last quarter of 2010.
However, the FOS said this did not mean that the banks were improving their ability to deal with the complaints properly in the first place.
A FOS spokesman explained that some banks were now choosing to appeal against an initial ruling against them.
This, he said, was artificially depressing the success rate of complainants as their cases awaited a final adjudication at the second stage of the Ombudsman's procedure.

[cappo]

Re: Latest updates on PPI Judicial Review and claims on hold

In 2009-10 it upheld 89% of the PPI complaints that came its way.
Since then, however, the apparent success rate for PPI complaints has been falling steadily, with just two-thirds upheld in the last quarter of 2010.
However, the FOS said this did not mean that the banks were improving their ability to deal with the complaints properly in the first place.
A FOS spokesman explained that some banks were now choosing to appeal against an initial ruling against them.
This, he said, was artificially depressing the success rate of complainants as their cases awaited a final adjudication at the second stage of the Ombudsman's procedure.

it seems to me the banks pay out for a while,then as in the case of the unenforceable loans,bank charges they then start kicking up a stink and start trying to wriggle out of paying up,there starting to (seem to) be getting the power and the cojones to take on anyone and everyone,i sometimes wonder who actually runs the country,the banks shouid never be in the position where they dictate policy to the government/fsa/fos.:tinysmile_hmm_t2:

[MBD23]

Re: Latest updates on PPI Judicial Review and claims on hold

the government need the banks to sell their debt
fsa and fos are funded by the banks
25% of the government tax receipts are from the banks
london property & employment propped up by the banks

what chance have we got!?

[EXC]

Re: Latest updates on PPI Judicial Review and claims on hold

25% of the government tax receipts are from the banks

It's nothing like 25%.

For 2010 the entire financial services industry (and not just the banks) contributed 11.2% of total UK tax revenue.

http://217.154.230.218/NR/rdonlyres/...inalForWeb.pdf

The figure for banks alone would be in single figures.

[EXC]

Re: Latest updates on PPI Judicial Review and claims on hold

i fund about 5 of them.

But you have ''no connection to any CMC''.

Remember?

http://www.legalbeagles.info/forums/...399#post181399

[Angry Cat]

Re: Latest updates on PPI Judicial Review and claims on hold

But you have ''no connection to any CMC''.

Remember?

http://www.legalbeagles.info/forums/...399#post181399

Touche:beagle:
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Quite frankly, the constant analysis of what's going to happen re: the JR, is getting quite boring

Why can't we just wait and see?

[NLP]

Re: Latest updates on PPI Judicial Review and claims on hold

But you have ''no connection to any CMC''.

Remember?

http://www.legalbeagles.info/forums/...399#post181399

depends upon what you define as connection

I invest money in businesses that cannot get funding from typical avenues.

CMCs, Foreign Exchange, A franchise of Subway, Web Design.....

I seek a return on my money, so it pays for me to understand what the most likely outcome of a sector in the short-mid term is.

CMCs in the PPI sector are going to become moribund... sorry to upset the CMC owners on here... but as i mentioned to MD23 on PM... I have mitigated my downside risk by being aware of the intentions of the system vis-a-vis PPI/JR

Hopefully others with a large commerical interest will do likewise.

Thanks and good luck.

[Angry Cat]

Re: Latest updates on PPI Judicial Review and claims on hold

The first time I ever saw any real commercial interest on this site was on this thread.

It would seem so, pompeyfaith; shaking and 'a' (financially) shivering then.

AC, rolls eyes and shakes head...there may be gold in them there PPI hills.

Booger, the poor consumer, some of which have valid complaints and do not need cmc's to make money off of their mis-sold Payment Protection Insurance.

[MBD23]

Re: Latest updates on PPI Judicial Review and claims on hold

25% of corporation tax receipts
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the poor consumer? many cmc's work hard for their clients in exchange for no up front funs but when it comes to paying bad debt % in the ppi industry is known to be as high as 50%. Now once the consumer has made their choice to use a CMC and once they have received money in respect of a winning claim, then surely everyone agrees the "poor consumer" should pay their bills and meet their obligations.
It used to be that it was easier to win a claim v the bank than it was to get paid by the client