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

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

    Originally posted by The Debt Star View Post
    Letter from the FOS this morning adjudicating in my favour in 3x PPI claims against Egg. Egg accepts the FOS adjudication. Approx £2K in value, all relating to a consolidated credit card, loan and carry-over of PPI to the consol loan. VICTORY AGAINST EGG.
    Nice one DS.

    I think it's worth mentioning that there has been at least 3 posts on MSE in the recent past where Egg have upheld PPI complaints but are awaiting the outcome of the Judicial Review in order that they can ''calculate'' the redress (unbelievable, I know) judicial review update?? - MoneySavingExpert.com Forums

    I'm not sure if any were through the FOS but it might be wise not to count your chickens just yet, if you know what I mean.

    Comment


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

      "Mr Justice Ouseley gave little away during the course of the hearing making it difficult to predict the likely outcome. He also gave no indication as to when his reserved judgment could be expected, although the general consensus was that Easter would be a realistic deadline. That said, whatever the outcome, an appeal seems almost inevitable and may proceed all the way through to the Supreme Court. If so, the ultimate winning party may not be declared until late 2012. How the FSA will deal with any firms operating a complaints handling freeze in the meantime remains to be seen."

      As expected.

      Comment


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

        If so, the ultimate winning party may not be declared until late 2012.

        Comment


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

          Originally posted by MBD23 View Post
          If so, the ultimate winning party may not be declared until late 2012.
          You almost sound surprised?
          ------------------------------- merged -------------------------------
          The FOS surprise me... they take a fee of circa £500 for every case reffered to them by CMC/joe public

          Now most are being put off sending the case to them as the waiting time is now well over 12 months... maybe closer to 18-24 months.

          The FOS have a monopoly on these cases once the lender has given a final rejection, give or take a small percentage that will be processed through litigation.

          So why are they not taking on a plethora of new staff... and getting those timelines right down?

          Anybody in the public domain who owned a business like the FOS would have grown at an exponential rate over the past 6 months... so why have they not?
          Last edited by NLP; 13th February 2011, 15:16:PM. Reason: Automerged Doublepost

          Comment


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

            Originally posted by NLP View Post

            Anybody in the public domain who owned a business like the FOS would have grown at an exponential rate over the past 6 months... so why have they not?
            Doh! Because they're neither a business or owned by anyone in the public domain.

            Comment


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

              Name & Registered Office:
              FINANCIAL OMBUDSMAN SERVICE LIMITED
              SOUTH QUAY PLAZA
              183 MARSH WALL
              LONDON
              E14 9SR
              Company No. 03725015



              Status: Active
              Date of Incorporation: 26/02/1999

              Country of Origin: United Kingdom
              Company Type: PRI/LTD BY GUAR/NSC (Private, limited by guarantee, no share capital)
              Nature of Business (SIC(03)):
              9305 - Other service activities
              Accounting Reference Date: 31/03
              Last Accounts Made Up To: 31/03/2010 (FULL)
              Next Accounts Due: 31/12/2011
              Last Return Made Up To: 26/02/2010
              Next Return Due: 26/03/2011
              Previous Names:Date of changePrevious Name06/12/1999FINANCIAL SERVICES OMBUDSMAN SCHEME LIMITED

              Comment


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

                Originally posted by MBD23 View Post
                If so, the ultimate winning party may not be declared until late 2012.
                lol just in time for the end of the Mayan calendar and armageddon those pesky banks get off the hook every time
                sigpicNo one expects a Chronic Hysteresis

                Comment


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

                  Originally posted by NLP View Post
                  You almost sound surprised?
                  ------------------------------- merged -------------------------------
                  The FOS surprise me... they take a fee of circa £500 for every case reffered to them by CMC/joe public
                  £500.00 for a personal current account complaint and £1000.00 for a business account related case.
                  Now most are being put off sending the case to them as the waiting time is now well over 12 months... maybe closer to 18-24 months.

                  The FOS have a monopoly on these cases once the lender has given a final rejection, give or take a small percentage that will be processed through litigation.

                  So why are they not taking on a plethora of new staff... and getting those timelines right down?

                  Anybody in the public domain who owned a business like the FOS would have grown at an exponential rate over the past 6 months... so why have they not?
                  Originally posted by NLP View Post
                  You almost sound surprised?
                  ------------------------------- merged -------------------------------
                  The FOS surprise me... they take a fee of circa £500 for every case reffered to them by CMC/joe public

                  Now most are being put off sending the case to them as the waiting time is now well over 12 months... maybe closer to 18-24 months.

                  The FOS have a monopoly on these cases once the lender has given a final rejection, give or take a small percentage that will be processed through litigation.

                  So why are they not taking on a plethora of new staff... and getting those timelines right down?

                  Anybody in the public domain who owned a business like the FOS would have grown at an exponential rate over the past 6 months... so why have they not?
                  I would add that timescales will vary widely depending on the paperwork submitted, the response of the financial provider and the answer given. The main focus of their initial approach is their customer contact centre.
                  http://www.financial-ombudsman.org.u.../received.html

                  See the above for the 2010 review(the 2011 review is due out later this year).

                  However, they also faced the banks' themselves as being the cause since they obstructed consumers from receiving a final response
                  http://news.bbc.co.uk/1/hi/business/8647097.stm

                  RBS Group have already been fined this year £2.8 million over the poor complaints handling processes.
                  "Family means that no one gets forgotten or left behind"
                  (quote from David Ogden Stiers)

                  Comment


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

                    http://www.guardian.co.uk/money/2011...dling-failures

                    Comment


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

                      The Financial Ombudsman Service is a not-for-profit public body set up by Parliament. It has no owner(s) by virtue of it having no share capital.

                      Being registered as a company does not mean it's a business.

                      Comment


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

                        Originally posted by EXC View Post
                        The Financial Ombudsman Service is a not-for-profit public body set up by Parliament. It has no owner(s) by virtue of it having no share capital.

                        Being registered as a company does not mean it's a business.
                        a not for profit body... this is a charity right?

                        have you got the regd charity number by chance?

                        i presume they do not make a profit???

                        Comment


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

                          Originally posted by EXC View Post
                          The Financial Ombudsman Service is a not-for-profit public body set up by Parliament. It has no owner(s) by virtue of it having no share capital.

                          Being registered as a company does not mean it's a business.
                          Thus my post #1581:beagle:
                          Last edited by Angry Cat; 13th February 2011, 21:12:PM. Reason: typo

                          Comment


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

                            Originally posted by NLP View Post
                            a not for profit body... this is a charity right?

                            have you got the regd charity number by chance?

                            i presume they do not make a profit???
                            Charities can be not for profit but not necessarily the only type of organisation that is an NPO.(Edited cos that sentence made no sense otherwise)
                            Nonprofit organization - Wikipedia, the free encyclopedia

                            See above for a definition which explains what they do with any profits.
                            "Family means that no one gets forgotten or left behind"
                            (quote from David Ogden Stiers)

                            Comment


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

                              Originally posted by NLP View Post
                              a not for profit body... this is a charity right?

                              have you got the regd charity number by chance?

                              i presume they do not make a profit???

                              ''We carry out statutory functions on a non-commercial, not-for-profit basis.''

                              official documents underpinning the about theFinancial Ombudsman Service

                              Comment


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

                                Originally posted by leclerc View Post
                                Charities can be not for profit but not necessarily one.
                                Nonprofit organization - Wikipedia, the free encyclopedia

                                See above for a definition which explains what they do with any profits.
                                so are the FOS a regd charity?
                                ------------------------------- merged -------------------------------
                                Originally posted by EXC View Post
                                ''We carry out statutory functions on a non-commercial, not-for-profit basis.''

                                official documents underpinning the about theFinancial Ombudsman Service
                                of course.

                                lol.
                                Last edited by NLP; 13th February 2011, 17:05:PM. Reason: Automerged Doublepost

                                Comment

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