• Welcome to the LegalBeagles Consumer and Legal Forum.
    Please Register to get the most out of the forum. Registration is free and only needs a username and email address.
    REGISTER
    Please do not post your full name, reference numbers or any identifiable details on the forum.

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

Collapse
Loading...
X
  • Filter
  • Time
  • Show
Clear All
new posts

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

    Originally posted by di30 View Post
    LOL, wonder if they will be working on weekends now?
    They have a lot of catching up to do, so its just as well they have not gone along with the BBA.


    there you go di,the big dog (beagle puppy) has spoken,get that compo girl,i,ve got a feeling you and nellie and everyone else will soon get sorted now,about time,well done:beagle:

    Comment


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

      I do wonder (with my cynical head on) how much of Lloyds "you do not need to use a CMC" is more to do with them letting people think that (as an example) a refund of premiums + 8% is the norm, as opposed to concern for the person being diddled by a CMC

      Comment


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

        This is the best resource on the internet for information relating to ppi and the judicial review. I know we're not quite over the line yet but I have to say it's been a pleasure reading your thoughts and consuming the news. Brilliant...
        Thanks all
        ------------------------------- merged -------------------------------
        I think the banks have got their knickers in a twist about cmc's and rightly so. It probably has something to do with the vast numbers of claims they have submitted. I wonder how many people actually make claims directly rather than use cmc's? I bet the percentage is skewed in favour of the cmc's. Thoughts?
        Last edited by morpheus; 6th May 2011, 19:25:PM. Reason: Automerged Doublepost

        Comment


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

          This is the best resource on the internet for information relating to ppi and the judicial review. I know we're not quite over the line yet but I have to say it's been a pleasure reading your thoughts and consuming the news. Brilliant...


          Well it is all Di's fault as she is the thread starter!!!!!!!!!!!!!!!!!!!!!!!!!!!
          ------------------------------- merged -------------------------------
          I think the banks have got their knickers in a twist about cmc's and rightly so. It probably has something to do with the vast numbers of claims they have submitted. I wonder how many people actually make claims directly rather than use cmc's? I bet the percentage is skewed in favour of the cmc's. Thoughts?
          Personally I do not advocate CMC's never have done because reclaiming is not a hard task and with the free help of forums like this makes it so much easier.

          Why pay over 25-30% of your redress when they will do exactly the same as you and write and reply to some letters.

          All the information needed is widely available on the internet.
          Last edited by pompeyfaith; 6th May 2011, 19:37:PM. Reason: Automerged Doublepost
          If you think nobody cares if you're alive, try missing a couple of payments.

          sigpic

          Comment


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

            Oh I agree with you wholeheartedly. There is no reason to use the companies. I only asked the question because I read somewhere (can't remember) the banks were receiving 80% of their cases from cmc's. My first impression was this can't be true. There is no way only 1 in 5 claims are made directly to the banks. It so easy to do. why give away your hard earned money. It's bonkers if the 80% remark is true.

            Comment


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

              LOL :tinysmile_aha_t: oh yeah I did didn't I? lmao

              Comment


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

                The problem we have is we are a lazy nation (general term) and for whatever reason would rather pass the buck to someone else to sort out.

                Consumers think it is a hard task to complete and feel there time is better spent doing other things like working, socializing etc.

                And hence feel the fees charged are just, it is not until a problem develops that they turn to us for help.

                There will always be CMC's and there will be consumers that use them all we can do is educate as many as possible as to why CMC's are not the preferred choice.
                If you think nobody cares if you're alive, try missing a couple of payments.

                sigpic

                Comment


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

                  http://www.dailymail.co.uk/money/art...=feeds-newsxml
                  If you think nobody cares if you're alive, try missing a couple of payments.

                  sigpic

                  Comment


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

                    Originally posted by MBD23 View Post
                    Britain's big banks will today take a significant step toward deciding whether to appeal against a ruling that they missold billions of pounds of insurance policies, I have learned.
                    The British Bankers' Association (BBA) has convened a conference call for later this afternoon on which its biggest members "will debate the next steps", according to somebody familiar with the plan. The call was requested yesterday by Angela Knight, BBA chief executive, I'm told.
                    A decision about whether to pursue an appeal against a recent High Court judgement on payment protection insurance (PPI) has to be made by next Tuesday.
                    Participants on the call are expected to include executives from Barclays, HSBC and Royal Bank of Scotland (RBS), the taxpayer-backed bank which this morning said it was too early to quantify the level of its potential exposure to the scandal.
                    It isn't clear whether today's call will provide a definitive decision about whether to appeal. As I revealed yesterday, Barclays is inclined to follow the example of Lloyds Banking Group by opting not to participate in any appeal, whereas HSBC is determined to press ahead on the basis that not appealing against the retrospective application of legislation may set a dangerous and costly precedent for the industry.
                    The costly part is certainly true, given that analysts now believe the PPI scandal could cost the industry £8bn rather than the £4.5bn originally forecast.
                    The BBA and the banks declined to comment.
                    Madame Knight, has remained curiously silent, until now...?

                    Comment


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

                      http://www.guardian.co.uk/business/2...nsurance-banks

                      http://www.guardian.co.uk/business/2...-rowdy-meeting

                      Old news of course but relevant...

                      Comment


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

                        From today's Times:




                        Banks prepared to throw in the towel on £8bn refund fight

                        The banking industry looked split last night on whether to carry on fighting the £8 billion battle over liability for the mis-selling of payment protection insurance.

                        Stephen Hester, the chief executive of Royal Bank of Scotland, stoked speculation that he had little appetite to fight further when he described the saga as “not the industry’s finest hour”.


                        RBS and Barclays are thought to be cooling on continuing the fight after Lloyds stunned them on Thursday by breaking ranks, abandoning the challenge and earmarking £3.2 billion to pay victims. HSBC is more hawkish, according to one banker, and plans to deliberate over the weekend, although it has privately decided that it will not fight on alone.


                        Banks under the auspices of the British Bankers Association have until Tuesday to decide whether to launch an appeal against a judicial review that approved a crackdown by the Financial Services Authority.


                        If they abandon their fight, it would speed up and enlarge compensation payments to millions of people and land the industry with a bill estimated at £8 billion.


                        Millions were mis-sold PPI, which pays out when a borrower’s income drops through redundancy or ill-health. Many borrowers were not told that they were paying for PPI or were sold it when they were disqualified in the fine print from ever claiming.


                        The move by Lloyds, which was the biggest supplier of PPI, has made it harder for the other banks to press on with an appeal. Lloyds is understood to have told the BBA of its decision only the night before communicating it publicly via the Stock Exchange.


                        One senior banker said last night: “It’s an incredibly difficult call. We have serious issues with the retrospective nature of the judgment. But the judicial review was pretty definitive. We would have to have very good reasons to appeal.”

                        HSBC is said to be furious that the judgment applies rules that were not in force at the time the PPI was sold. The bank is also concerned more generally about adverse regulation in Britain.


                        Mr Hester said that it was too early to put a figure on the cost of PPI recompense but said RBS’s market share had been about one third that of Lloyds. On that basis, it might be faced with a bill of just over £1 billion.


                        Mr Hester emphasised that RBS had stopped selling PPI as soon as he arrived in 2008. All legitimate claims would be met, he added, regardless of the legal challenge decision.


                        The BBA, which is chaired by the Barclays chairman Marcus Agius, said that no decision had been taken on whether to appeal. “We’ve got until the tenth to make a decision and we think it will take that long,” a spokesman said.

                        Comment


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

                          Originally posted by Angry Cat View Post
                          Madame Knight, has remained curiously silent, until now...?
                          Sorry - couldn't help it...
                          Originally posted by Jagger & Richard - some time ago...
                          Angie, angie, when will those clouds all disappear?
                          Angie, angie, where will it lead us from here?
                          With no loving in our souls and no money in our coats
                          You cant say were satisfied
                          But angie, angie, you cant say we never tried
                          Angie, youre beautiful, but aint it time we said good-bye?
                          http://www.youtube.com/watch?v=uVTGx...eature=related

                          Comment


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

                            Originally posted by EXC View Post
                            From today's Times:

                            Stephen Hester, the chief executive of Royal Bank of Scotland, stoked speculation that he had little appetite to fight further when he described the saga as “not the industry’s finest hour”.
                            Indeedy - "The Longest Day" seems more like it !!!

                            Comment


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

                              Surely if the rest do appeal the courts will also consider the fact that Lloyds have dropped the JR so publicly and this will influence any decision made?

                              Comment


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

                                Mr Hester emphasised that RBS had stopped selling PPI as soon as he arrived in 2008. All legitimate claims would be met, he added, regardless of the legal challenge decision.
                                Does that not point that there was something wrong with the product, hell come on me hester play fair if the product was a goodun you would not have stopped selling it and it would not have been banned after years of investigation by the CC.
                                ------------------------------- merged -------------------------------
                                Surely if the rest do appeal the courts will also consider the fact that Lloyds have dropped the JR so publicly and this will influence any decision made?


                                Yes I think the Judges are going to want to know why they the biggest seller pulled out and if they do appeal the others will have to answer that in the appeal papers.
                                Last edited by pompeyfaith; 7th May 2011, 09:56:AM. Reason: Automerged Doublepost
                                If you think nobody cares if you're alive, try missing a couple of payments.

                                sigpic

                                Comment

                                View our Terms and Conditions

                                LegalBeagles Group uses cookies to enhance your browsing experience and to create a secure and effective website. By using this website, you are consenting to such use.To find out more and learn how to manage cookies please read our Cookie and Privacy Policy.

                                If you would like to opt in, or out, of receiving news and marketing from LegalBeagles Group Ltd you can amend your settings at any time here.


                                If you would like to cancel your registration please Contact Us. We will delete your user details on request, however, any previously posted user content will remain on the site with your username removed and 'Guest' inserted.
                                Working...
                                X