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

[leclerc]

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

What is the current timescale for receipt of the acceptance form to payout with Lloyds?

I'm up to almost 7 weeks from the confirmed receipt of the acceptance form......

[MBD23]

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

announced in mid/late may that banks would be paying back
then it was announced that the backlog had to be cleared by aug 31st in early June
so noone would have sent anything to fos in June/July/Aug until the final decision had come out,
As the entire backlog had not been cleared and the time to submit a claim to Fos anyone in their right mind would have given the banks 3-4 weeks from the end of Aug to get their final decisions out

smdl is a final decision rejecting the claim giving 6 month fos rights. However a lot of the major lenders agreed that the 6 month time clock wouldnt start clicking until the JR decision had been released and that a claim would not be time barred.

Hence the low number submitted to FOS

Expect this number to explode when Jan/Feb / MArch 2012 figures are released due to the number of rejections being issued by capital one, black horse, barclaycard, lloyds etc . if the number doesnt explode, doesnt mean the number of ppi claims have been reduced, they are still increasing massively, means the lenders are settling more of them without the need to go to fos

p.s anyone with any experience of winning a fos claim v capital one - most dont win and wondering what you think makes the difference for fos to rule against cap one
------------------------------- merged -------------------------------
p.s the point is there was no point sending a claim to fos during this period to get into a 2 year queue, you were better of waiting for the aug 31st deadline to pass and see if the lender would settle it themselves , which most have done

[leclerc]

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

When was the August 31st Deadline announced?

I believe that from whenever that was announced anyone who was previously referring to FOS citing delays or judicial review would have likely held off until they got their final response.

That deadline was for the BANKS to have a decision, not the FOS. There is a distinction in that issue. The BANKS could no longer delay providing information to the FOS to decide cases anymore. In fact, Barclays supposedly was paying out no questions asked.

[skv123]

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

two things really but was does SMDL mean?

the other thing is the significance of July/August since the decision on the JR was made in May?

When was the August 31st Deadline announced?

I believe that from whenever that was announced anyone who was previously referring to FOS citing delays or judicial review would have likely held off until they got their final response.

[leclerc]

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

very misleading stat as noone in their right mind would have sent their claim to fos in july/august and sept whilist waiting to see what the on-hold JR decision was, the only things that would have been sent would be smdls
i saw an smdl from barclays yesterdays, the first for a long time.
id be very surprised if this number doesnt spike up again with all the capital one , barclaycard, blackhorse, lloyds smdl's floating about.

two things really but was does SMDL mean?

the other thing is the significance of July/August since the decision on the JR was made in May?

[MBD23]

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

I totally agree.

Actually the FOS are now upholding a record 92% of all PPI complaints.





PPI complaints to Ombudsman see sharp fall

The number of complaints about payment protection insurance (PPI) being taken to the Financial Ombudsman Service (FOS) has dropped sharply.

The FOS received just 19,259 new PPI cases in the third quarter of this year, down 66% from the second quarter.

As a result, the total number of complaints made to the FOS in the quarter fell 38% to just over 50,000.

The FOS said the drop in PPI cases had been expected as a backlog was cleared. Other types of complaint were up 24%.

Despite the number of new PPI complaints seemingly passing its peak, the FOS said it was upholding an even greater proportion of them than before - all cases that had originally been turned down by banks and other PPI sellers.
"The percentage of PPI complaints we upheld in favour of the consumer increased to 92%," an FOS spokesman said.

Mis-selling
The number of PPI complaints taken to the FOS more than doubled in the financial year 2010-11 to nearly 105,000 as publicity about the widespread mis-selling of the insurance alerted many customers to the possibility of gaining compensation.

In the meantime, the banks fought a High Court case to challenge the authority of the Financial Services Authority (FSA) and the FOS, who had laid down new rules about how PPI should be sold and how past cases of mis-selling should be dealt with.

While this was going on, most banks put their new complaints on hold and a huge backlog built up.

But the dam broke when the banks suffered a decisive legal defeat in April and, as a result, were obliged to start processing the backlog that amounted to more than 200,000 cases.

The number of people that then went to the Ombudsman rocketed too - to just over 56,000 in April, May and June.

That surge now appears to be past its peak, though new PPI cases still make up 38% of the current FOS workload.

Meanwhile other types of unresolved complaints being taken to the Ombudsman have increased between the second quarter of the year and the third.

Among them were those about deposits and savings (up 40%), mortgages (up 37%), overdrafts and loans (up 23%), and motor insurance (up 22%).

"Complaints about current accounts and credit cards also remain high," the FOS said.

These accounted for 9% and 12% respectively of all new complaints in the three months to the end of September.


BBC News - PPI complaints to Ombudsman see sharp fall

very misleading stat as noone in their right mind would have sent their claim to fos in july/august and sept whilist waiting to see what the on-hold JR decision was, the only things that would have been sent would be smdls
i saw an smdl from barclays yesterdays, the first for a long time.
id be very surprised if this number doesnt spike up again with all the capital one , barclaycard, blackhorse, lloyds smdl's floating about.

[EXC]

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

I totally agree.

Actually the FOS are now upholding a record 92% of all PPI complaints.





PPI complaints to Ombudsman see sharp fall

The number of complaints about payment protection insurance (PPI) being taken to the Financial Ombudsman Service (FOS) has dropped sharply.

The FOS received just 19,259 new PPI cases in the third quarter of this year, down 66% from the second quarter.

As a result, the total number of complaints made to the FOS in the quarter fell 38% to just over 50,000.

The FOS said the drop in PPI cases had been expected as a backlog was cleared. Other types of complaint were up 24%.

Despite the number of new PPI complaints seemingly passing its peak, the FOS said it was upholding an even greater proportion of them than before - all cases that had originally been turned down by banks and other PPI sellers.
"The percentage of PPI complaints we upheld in favour of the consumer increased to 92%," an FOS spokesman said.

Mis-selling
The number of PPI complaints taken to the FOS more than doubled in the financial year 2010-11 to nearly 105,000 as publicity about the widespread mis-selling of the insurance alerted many customers to the possibility of gaining compensation.

In the meantime, the banks fought a High Court case to challenge the authority of the Financial Services Authority (FSA) and the FOS, who had laid down new rules about how PPI should be sold and how past cases of mis-selling should be dealt with.

While this was going on, most banks put their new complaints on hold and a huge backlog built up.

But the dam broke when the banks suffered a decisive legal defeat in April and, as a result, were obliged to start processing the backlog that amounted to more than 200,000 cases.

The number of people that then went to the Ombudsman rocketed too - to just over 56,000 in April, May and June.

That surge now appears to be past its peak, though new PPI cases still make up 38% of the current FOS workload.

Meanwhile other types of unresolved complaints being taken to the Ombudsman have increased between the second quarter of the year and the third.

Among them were those about deposits and savings (up 40%), mortgages (up 37%), overdrafts and loans (up 23%), and motor insurance (up 22%).

"Complaints about current accounts and credit cards also remain high," the FOS said.

These accounted for 9% and 12% respectively of all new complaints in the three months to the end of September.


BBC News - PPI complaints to Ombudsman see sharp fall

[seller 17]

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

The problem is that the courts aren't there to consider what is fair and reasonable in terms of value but rather in terms of what is legal.

In my view the most important message from the judgment is don't take a PPI dispute to court.

Do not understand why they went to court when the FOS upholds (currently) 89% against BH.

Go to FOS, not the court.

[di30]

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

Oh, of course, reputational risk to the business.....had not thought about it to be honest....

If I get any trouble, I shall be contacting mine, and they will contact/write or email the bank and if your MP agrees (which they should do) is to ask for a copy of the letter/email sent to the bank. To the CEO maybe the best action.

I will however, give it time with mine though because mine have only just been resolved, but with customers waiting as long as your mum's etc, defo get some help from MP to push it, good luck.

[leclerc]

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

Blimey, just not on!!!
MP, have you a good local one leclerc?
OTR someone has contacted their local one who have on the customer's behalf been contacting the business to chase this up and think they are moving on with it, cannot recall on what bank this was though, but still maybe worth thinking about.

Oh, of course, reputational risk to the business.....had not thought about it to be honest....

[di30]

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

Di, they have had my mother's case for the last 6 weeks and still no resolution as yet.

Blimey, just not on!!!
MP, have you a good local one leclerc?
OTR someone has contacted their local one who have on the customer's behalf been contacting the business to chase this up and think they are moving on with it, cannot recall on what bank this was though, but still maybe worth thinking about.

[leclerc]

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

Hi

Not told anything, only that they resolved my last 2 cases over a week ago and received an email back a few days ago to say the team were currently dealing with the refund.
Will keep a check on this though.
If this is the case, then I shall be contacting the FSA, see what they say.

Di, they have had my mother's case for the last 6 weeks and still no resolution as yet.

[di30]

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

Has anyone been informed by Lloyds of the following which a colleague of mine was told today by a Lloyds advisor :

Lloyds confirmed today that they have suspended all PPI refund payments as of 29/9. This means that there is no current timescale for when clients will receive their refund.

I'm hoping he has been mis-informed but wanted to see if anyone else had heard of this.

Hi

Not told anything, only that they resolved my last 2 cases over a week ago and received an email back a few days ago to say the team were currently dealing with the refund.
Will keep a check on this though.
If this is the case, then I shall be contacting the FSA, see what they say.

[skv123]

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

As ever with lloydsTSB I would email them and ask the question but they are very very very slow on paying out once they have received confirmation of acceptance.

E-mailed the CEO and consumer address yesterday.

Will post any response.

[leclerc]

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

Has anyone been informed by Lloyds of the following which a colleague of mine was told today by a Lloyds advisor :

Lloyds confirmed today that they have suspended all PPI refund payments as of 29/9. This means that there is no current timescale for when clients will receive their refund.

I'm hoping he has been mis-informed but wanted to see if anyone else had heard of this.

As ever with lloydsTSB I would email them and ask the question but they are very very very slow on paying out once they have received confirmation of acceptance.