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

[cato]

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

hello all...

Sucess comes slow but still a success... This is actually on a loan I settled in 1999 with M&S money!! From my calculations it should equate to 13k Thanks for all the great posts...and just goes to show even loans from 6 years+ can still get paid out

"Thank you for contacting us about the Payment Protection Insurance (PPI) on your account.

I understand that you feel this Insurance was mis-sold to you and that you are requesting a full refund of all premiums charged, plus 8% statutory interest.

I’d like to assure you that we take our adherence to the General Insurance regulations very seriously and we would not condone the mis-selling of our products.

I’ve now completed my investigation into the issues you raised and can confirm that I’m upholding your complaint.

As a result of my decision, it’s not my intention to respond specifically to the individual issues that you’ve raised, other than to explain how I intend resolving the matter.

I’m prepared to offer you a full refund of premiums paid (plus interest) for your loan account. We’ll contact you within the next five weeks with our offer of redress.

We do appreciate your continued patience in this matter."

[TUTTSI]

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

Well done Cato - but why another 5 weeks????

[cato]

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

thanks Tuttsi...no idea why another five weeks as they have provided nothing other than the information above that you viewed...I think its a fairly simple calculation for them but what do I know haha...maybe they are just trying to maintain some power and control!!

if anything it puts my mind at rest that I will get the payout I deserve...

[dogtired]

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

I had an identical letter from them so am waiting as well!

[tatty27]

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

Hi, I had a PPI claim that was linked to a natwest credit card. I paid the card off in full and closed the account last September. 6 weeks ago I was told that my PPI claim had been successful and they made me an offer which I accepted and because my credit card no longer existed I would be sent a cheque within 28 days. Brilliant, or so I thought.

So, I waited 28 days for the cheque and nothing happened. After 38 days I caved in and called the PPI concerns team only to be told (in a very patronising tone of voice) that I had received my payment. When I asked how I was told that it had been credited to my credit card, the credit card that no longer existed!

I called the credit card help line as I didn't have any access to this card anymore (I'd destroyed the card and Natwest removed it from my online banking) and asked why had they done this when I was told a cheque would be sent? They said that it was because they couldn't be sure that my address hadn't changed since they had last written to me. I then asked how was I supposed to know the payment had been paid and the answer was that I would have been told when I'd call to find out where my money was. Then, when I asked how I was supposed to get my money they said I could ask for a cheque which would take 14 days. At this point I flipped and all I can say is that they must have figured how upset I was because a cheque arrive the next day!

What really worries me is that even though the account was apparently closed it still had the original credit limit etc. So, was it that they didn't actually close the account when I asked or did they reinstate it? I asked them and they said they didn't know.

Can they do this?

Thanks

tatty27

[leclerc]

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

tatty worth asking them the question and state that you were told of one payment method only and not told that they would credit an account that was either (a) not closed properly or (b) closed which is slightly odd.

[cappo]

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

Hi guys can anyone on here possibly give me any help, i have received an offer of sorts from hsbc without admission of liability offering to settle "on this occasion" now i think this sounds suspiciously like an offer of "goodwill" i don't know but when hsbc sends me a proposal i think it's going to be minus any interest as according to them they've not officially upheld, now the question can i accept any monies offered and chase the bank through the fos/fsa for the interest,accept a partial settlement as it were without closing the claim,i would really appreciate any help with this guys as i need a contingency plan ready to go at a moments notice,thanks for any advice in advance.

[EXC]

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

From reading around it is not untypical of HSBC to offer a goodwill payment without upholding a complaint.

For your purposes all you're interested in is getting the proper amount of redress so your questions are dependent on the amount offered. So I'd be tempted write back saying that in principle you would accept such an offer but make it clear it would be subject to include the level of interest as per the FSA's Policy Statement.

[cappo]

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

From reading around it is not untypical of HSBC to offer a goodwill payment without upholding a complaint.

For your purposes all you're interested in is getting the proper amount of redress so your questions are dependent on the amount offered. So I'd be tempted write back saying that in principle you would accept such an offer but make it clear it would be subject to include the level of interest as per the FSA's Policy Statement.

Thanks EXC thats great,thanks for your quick response to my query mate

[k77mss]

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

could somebody please give me the quotes from fsa handbook i think it was from there about companys taking solely theirs staffs training and the way they sold it as only reason for not upholding and also bit about about not giving advice sure i seen it on here but can't find it.
sending blackhorse a final letter with as much as possible on it supporting my claim after they have said no.any other suggestions what i can say it's not their final answer
thanks for any replies

[EXC]

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

could somebody please give me the quotes from fsa handbook i think it was from there about companys taking solely theirs staffs training and the way they sold it as only reason for not upholding and also bit about about not giving advice sure i seen it on here but can't find it.
sending blackhorse a final letter with as much as possible on it supporting my claim after they have said no.any other suggestions what i can say it's not their final answer
thanks for any replies

I think that the FSA Policy Statement would be easier to search than the Handbook as it gives more information.

If I understand you correctly, if Black Horse are rejecting your complaint on the basis that they believed their staff training is compliant, the Policy Statement doesn't agree:

''We remain of the view that credible specific evidence about the individual sale is more persuasive than general evidence about the firm’s systems and controls in place...''

Your best bet is to word search the Policy Statement (the word search function is at the top of the page) for 'advice', 'training' etc.

Also the Common Failings (from page 136) are useful in identifying flaws in the sales process that may be applicable to your situation

http://www.fsa.gov.uk/pubs/policy/ps10_12.pdf

[The Debt Star]

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

FD have said they will look again at my PPI claim if I send THEM copy statements going back to 2002.


They had offered a derisory £150 on a £1500 claim, saying that they didn't have to go back more than 6 years. When I challenged this they backed down and asked for proof of PPI going back beyond that point.

I had statements from a SAR sent to FD but I sent these onto the FOS with the PPI quezzy and claim form. I am trying to get them back and will return them to FD. I know its crazy FD asking ME to send them copies of statments they sent me (!) but their PPI people said they don't have access to that data and TBH I just want to close my file and move on soonest. So I'm not all that fussed about obliging them in this regard.

Ok, FD have said verbally that they may well refund my entire claim but won't send any refund direct to me because I have an outstanding debt with them.

True, I do. However, what happended was that in 2002 I took out a credit card and was mis-sold the PPI I am now claiming back. In 2006 that card was closed and the balance transferred to a loan comprising one "super debt" of CC balance, an outstanding loan and an overdraft. The debt itself is technically an overdraft as it is attached to my FD current account.

FD are saying they will only off-set the credit card PPI against that debt.

My questions are:

1. Is there any way I can argue that they should pay me the full PPI direct and not of-set it as the credit card account was closed in 2006?

2. Are they entitled, as they claim, to apply the statutory interest of 8% due on the PPI to the outstanding debt as well?

[EXC]

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

1. Is there any way I can argue that they should pay me the full PPI direct and not of-set it as the credit card account was closed in 2006?

2. Are they entitled, as they claim, to apply the statutory interest of 8% due on the PPI to the outstanding debt as well?

1. I can't see that debts consolidated into an overdraft would have any bearing on their right of set-off TBH.

2. If the outstanding debt is in the form of an overdraft then the interest should be governed by the terms of the overdraft and are irrelevant to any interest on your PPI claim.

[The Debt Star]

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

Thx, those were my thoughts also.

I have pointed this out to FD and it will be interesting to see what happens and where this goes, if they do, as anticipated, override my request and apply the PPI claim and stat interest to the overdraft.

[k77mss]

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

I think that the FSA Policy Statement would be easier to search than the Handbook as it gives more information.

If I understand you correctly, if Black Horse are rejecting your complaint on the basis that they believed their staff training is compliant, the Policy Statement doesn't agree:

''We remain of the view that credible specific evidence about the individual sale is more persuasive than general evidence about the firm’s systems and controls in place...''

Your best bet is to word search the Policy Statement (the word search function is at the top of the page) for 'advice', 'training' etc.

Also the Common Failings (from page 136) are useful in identifying flaws in the sales process that may be applicable to your situation

http://www.fsa.gov.uk/pubs/policy/ps10_12.pdf

thanxs very much for that spent awhile going through it but was worth it sent my letter tonight so fingers crossed this time thanxs again