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

[andrew1]

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

What is generally acceptable as a refundable amount?

1)Refund of Premiums
2)Refund of Interest incurred on the account becasue of the PPI
3)Refund of SIMPLE interest applied to the account because of the PPI
Interest @ 8%

I sent my claim in for Contractual Interest - is that something people are going for or should one settle for Simple interest.

Opinions please?


A1

[seller 17]

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

An e-mail sent today by the BBA to members about the conference contains the following paragraph:

''A flurry of phone calls from speakers over the past few days tells us that an announcement is due on the day (there will be further details next week). Any firm having direct dealings with CMCs might wish to ensure that they have a colleague in the room.''[/quote]


Anybody know what this announcement means/is????

[EXC]

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

An e-mail sent today by the BBA to members about the conference contains the following paragraph:

''A flurry of phone calls from speakers over the past few days tells us that an announcement is due on the day (there will be further details next week). Any firm having direct dealings with CMCs might wish to ensure that they have a colleague in the room.''

anybody know what this announcement means/is????

It's anyone's guess really.

I do know that the MOJ have been conducting a wholesale review of the regulation of CMCs and the BBA have been lobbying them hard.

Attached is the BBA's response to a MOJ consultation earlier this year that mainly deals with Conduct of Authorised Person Rules for CMCs but they also took the opportunity to have a moan and groan about other issues the banking industry has with CMCs.

Incredibly amongst the list of demands, the BBA wants CMCs to ''be regulated in a similar way to the financial services industry – they should be subject to the same conduct principles, such as treating customers fairly, for example''.

And who was it at the very time this was written that was heading a legal challenge to the very legitimacy of enforcing Treating Customers Fairly conduct principles? Step forward the BBA.

[TUTTSI]

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

I have started a thread in Campaigns on this subject http://www.legalbeagles.info/forums/...026#post221026

If what the BBA say in this letter to the MOJ and if all of that can be put into place in a satisfactory manner this would cover a hell of a lot of our concerns on behalf of the consumers.

My main worry which I did not read was the upfront fes, but if they have safeguards in plce for the money then it would not be a big concern.

I also like the bit about the mis-leading in advertising and I hope this extends to CMC's web sites as well as their high powered sales pitches to customers on the phone.

It's anyone's guess really.

I do know that the MOJ have been conducting a wholesale review of the regulation of CMCs and the BBA have been lobbying them hard.

Attached is the BBA's response to a MOJ consultation earlier this year that mainly deals with Conduct of Authorised Person Rules for CMCs but they also took the opportunity to have a moan and groan about other issues the banking industry has with CMCs.

Incredibly amongst the list of demands, the BBA wants CMCs to ''be regulated in a similar way to the financial services industry – they should be subject to the same conduct principles, such as treating customers fairly, for example''.

And who was it at the very time this was written that was heading a legal challenge to the very legitimacy of enforcing Treating Customers Fairly conduct principles? Step forward the BBA.

[EXC]

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

If what the BBA say in this letter to the MOJ and if all of that can be put into place in a satisfactory manner this would cover a hell of a lot of our concerns on behalf of the consumers.

I agree but don't lose sight of the fact that the BBA are using the consumer perspective to embellish their case. That's because there is far more detriment suffered by the consumer than the financial services industry at the hands of CMCs.

The BBA commissioned a piece of research in 2009 - 'Impact of Claims Management Companies' Activities on Consumers of Financial Services' and this was submitted along with their consultation response.

[seller 17]

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

It's anyone's guess really.

I do know that the MOJ have been conducting a wholesale review of the regulation of CMCs and the BBA have been lobbying them hard.

Attached is the BBA's response to a MOJ consultation earlier this year that mainly deals with Conduct of Authorised Person Rules for CMCs but they also took the opportunity to have a moan and groan about other issues the banking industry has with CMCs.

Incredibly amongst the list of demands, the BBA wants CMCs to ''be regulated in a similar way to the financial services industry – they should be subject to the same conduct principles, such as treating customers fairly, for example''.

And who was it at the very time this was written that was heading a legal challenge to the very legitimacy of enforcing Treating Customers Fairly conduct principles? Step forward the BBA.

i think the CMC's should be worried reading this.

The link to the BBA response is interesting. If their members paid out upfront on these claims there would be no need to use CMC's anyway....the BBA, dont you just love em!!!!!!! Full of it.

[Angry Cat]

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

A Shocking story that involves, Cardiff Pinnacle, Lombard, RBS and 1st Credit:
http://www.dailymail.co.uk/news/arti...#ixzz1SGOFBUIk

[andrew1]

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

What is generally acceptable as a refundable amount?

1)Refund of Premiums
2)Refund of Interest incurred on the account becasue of the PPI
3)Refund of SIMPLE interest applied to the account because of the PPI
Interest @ 8%

I sent my claim in for Contractual Interest - is that something people are going for or should one settle for Simple interest.

Opinions please?


A1

Sorry, this got lost in the recent debate in following threads..anyone any thoughts on Simple or Contractual Interest for these PPI claims?

[Turboman]

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

Andrew

Loan PPI or Credit Card PPI?

[TUTTSI]

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

Lloyds Bank are stating on their web site that they are taking upto 16 weeks to resolve the PPI claims if they were submitted claims sent in after 6th May will not receive either a letter or payment before September. This is terrible my cousin was told by her bank that in order for them to give her an increase in the overdraft this PPI was a condition and they swiped it from her account even though she did not want it as she already had medical cover on another policy.

[andrew1]

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

Andrew

Loan PPI or Credit Card PPI?

Credit Card

[Angry Cat]

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

Credit Card

A1,
if you just reclaim simple interest, you will not be put back into the position that you were in prior to taking out the useless PPI!

[andrew1]

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

A1,
if you just reclaim simple interest, you will not be put back into the position that you were in prior to taking out the useless PPI!

Sorry AC, can you spell this out for me exactly why you suggest this so I can be in tune with the argument? I have my theories as to why contractual is right, but I'd like to hear it from someone else.

[stevesouth33]

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

Heard from the budsman today that a previously not up-held complaint, had been reviewed by the financial business and that they were now prepared to pay full redress in line with the FOS guidlines. This one dates from 2005 and had a PPI payment of £70 a month so that should not be incosiderable.

The redress breaks down thus:

Refund of all PPI premiums
Refund of compound interest
Refund of simple interest less tax
Refund of interest since claim put on hold less tax

Whats quite good is that they knew that the adjudicator had upheld it but would not co-operate so the adjudicator referred it to the ombudsman, but in the meantime they have re-considered which is interesting.

[andrew1]

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

Just remembered - Sempra Meals vs HMRC , sets precedent for compound I believe. - it's the grey cells!