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

[MattyA]

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

I'm finding the FOS worse than bad at the moment

Agreed.

I have a number of PPI complaints on with them and have received letters last week advising me of delays in looking into my comlaints and that they cannot advise the length of time I will be waiting for an adjudicator to be appointed.

One case has been upheld - but they (Amex) will not pay up in line with FOS guidelines so ajudicator has asked for an Ombudsman to review.
This was four months ago and it still has not been allocated to an Ombudsman.

Matty

[MattyA]

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

Well done. Certainly,now that they have refunded the PPI payments and therefore admitted that they were wrong, they HAVE to add interest. You can use the calculator tool on here to work it out at 8% per year, the standard county court rate used.

Thanks DIB.

Just re read my post which isnt totally clear.
They have offered to repay all premiums paid by me + 8%.
What they are refusing to repay is the interest applied by them to the premiums each month - which makes a big difference to the amount they will have to repay.

I think this is a tactic to force me to the FOS which will take an age.....
or maybe I am being a cynic / untrusting of our highly respected bankers.

Matty

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

, go to the regulator!

I'm finding the FOS worse than bad at the moment

[debtisbad]

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

You were spot on.

Revised offer received today including return of all PPI premiums going back to 1990 + simple interest only.
They have not however refunded interest charged in relation to the PPI premiums - After a debate about this on another thread I really dont know what to do with this now......will give 'em a rig tomorrow and discuss my concerns.

Well done. Certainly,now that they have refunded the PPI payments and therefore admitted that they were wrong, they HAVE to add interest. You can use the calculator tool on here to work it out at 8% per year, the standard county court rate used.

[mosten]

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

lots of lloydstsb letter hit doormats fri/sat telling claimants about the "hope to sort it out end of august" notice

[debtisbad]

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

now got £675.00 on a 16 year old loan ppi repayment guys,hopefully the first of many (LTSB)

Well done Cappo. You did the same as me. Old PPIs are still on the table. Get the claims in folks, and if the ban says no, go to the regulator! Cappo got paid, I got paid. Whose complaining?

[The_Big_Dog]

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

I'd actually tend to disagree, or at least argue this point. I had a BOS loan of 13k which had a further £5900 in PPI which was a condition when purchased over the phone. The loan was sold to cabot, but there are a few things here. We know cabot buy debt for somewhere between 5 & 12% of debt value and I always argued on our Cabot threads OTR that the purchase price to Cabot was a commercial decision and nothing to do with the debtor as rights and so on passed to Cabot when assigned. However, there is a matter of unjust enrichment here on these repayments because Cabot did not lend us 13k or receive the payments for the PPI.

My loan was being taken to court by Cabot but they collapsed before any hearing on the basis of a shoddy attempt to collect from only one of the joint account holders by Morgans and the missold PPI making the agreement a multiple agreement anyway It was unenforceable. But cabot pulled out, and paid my solicitor costs too settling for the write-off.

So, when applying to BOS for the PPI I'd paid should this money go to Cabot? - I say no. One because they would be unjustly enriched far and above what they have lost over their purchase price and two, because a settlement was reached. Had they go their facts and litigation right and their purchase was an assignment correct from day one then they would have hammered me for the full outstanding balance, including PPI of £18,000 +/-

I don't see why BOS should be paying Cabot a penny. I should not be unjustly enriched either so I would only expect to receive the premiums I'd paid, but it should not go to Cabot IMHO.

Without trying to be argumentative, you read a few posts on consumer websites and think -= hmmm, I don't think that advice is correct and I don't think that will stand up in front of a Judge, however, I think Andrew's post is one of the most beautifully, and powerfully, argued points I've seen in a long time.

TBD.

[andrew1]

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

Originally Posted by dogtired
Another question if a credit card ( bank of scotland) has been sold on (in this case to cabot) if successful does it go to Cabit or to me?
In the middle of "unenforeble" complaint with FOS and yesterday he tells me that HBOS are going to confirm they sold it to them, this has taken a year already should it not have heard sooner?

Read more at: Legal Beagles Consumer Forum - Reply to Topic

quote=Paul210

I'd fully expect them to send the money to Cabot as usually this would be offset against the arrears. As yet the unenforceablilty issues have not been dealt with so this would still be the case until this has been resolved.

There are differing views on here as to whether an assigned debt carrys an assignment to the right of setoff for something like a ppi reclaim however imho if push came to shove a judge would argue that had the account been maintained then offset would have applied so its unfair to punish cabot by removing that right now just because the terms were defaulted on.

I'd actually tend to disagree, or at least argue this point. I had a BOS loan of 13k which had a further £5900 in PPI which was a condition when purchased over the phone. The loan was sold to cabot, but there are a few things here. We know cabot buy debt for somewhere between 5 & 12% of debt value and I always argued on our Cabot threads OTR that the purchase price to Cabot was a commercial decision and nothing to do with the debtor as rights and so on passed to Cabot when assigned. However, there is a matter of unjust enrichment here on these repayments because Cabot did not lend us 13k or receive the payments for the PPI.

My loan was being taken to court by Cabot but they collapsed before any hearing on the basis of a shoddy attempt to collect from only one of the joint account holders by Morgans and the missold PPI making the agreement a multiple agreement anyway It was unenforceable. But cabot pulled out, and paid my solicitor costs too settling for the write-off.

So, when applying to BOS for the PPI I'd paid should this money go to Cabot? - I say no. One because they would be unjustly enriched far and above what they have lost over their purchase price and two, because a settlement was reached. Had they go their facts and litigation right and their purchase was an assignment correct from day one then they would have hammered me for the full outstanding balance, including PPI of £18,000 +/-

I don't see why BOS should be paying Cabot a penny. I should not be unjustly enriched either so I would only expect to receive the premiums I'd paid, but it should not go to Cabot IMHO.

[cappo]

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

The problem as highlighted by EXC is about litigation because it could lose a case if it doesn't go through the FOS.
Are MBNA classed as Lloyds Banking Group? That would be the August deadline. Not all companies have until August to deal with claims pre end of JR.

Hi nattie mbna are bank of america.

[leclerc]

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

The problem as highlighted by EXC is about litigation because it could lose a case if it doesn't go through the FOS.
Are MBNA classed as Lloyds Banking Group? That would be the August deadline. Not all companies have until August to deal with claims pre end of JR.

[MBD23]

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

not really happening yet is it, loads of smdl's being sent out though, very few offers apart from by MBNA, if they are all going to get all their offers delayed by the JR out by Aug 31st then its either gonna be totally manic and they are trying to cuase chaos by giving cmcs the problem of trying to process and collect that number delivered in such a short space of time, or if a very lot dont arrive ie 9 months worth in 4 weeks, then cmcs and clients got an even bigger problem cos the numbers arent gonna add up, and means there's gonna be a hell of a lot to send to fos and fos not even looking at them for about a year , meanwhile cmc's got to keep the business going, forget the pr and the amount the banks have set aside, ive a feeling the banks certainly havent given up the fight on this one
------------------------------- merged -------------------------------
my feeling at the moment is the banks gonna milk this, they know that anything they dont settle now will take at 12-24 months to settle at fos, and with fos become more and more difficult ( to the consumer) asking more and more questions, then the banks know that in 2 years prob 35% of clients will have dropped out and probably about 50% of cmcs will drop out, there is a very good chance the banks will still come out of this ones the winners

[leclerc]

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

Next week Antonio Horta-Osorio will be speaking to investors next week about how he plans to cut costs, that might be when we could get an announcement on PPI(pure speculation on my part btw). The speech to investors will be on June 30th. Previous investor talks by Barclays and HSBC have lead to drops in share prices so I hope he has a good speech writer, lol!

[MattyA]

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

Well I spoke to M&S money and asked them to re-open the complaint and they asked me why. I said that in their final respsonse they had included a copy of the original application to prove I had signed the form in regard to PPI. They said yes that was the point in sending the copy. I asked them what they thought "stongly recommend" meant in the context of the PPI. They replied that no advice was given and I thne drew their attention to the fact it was written in bold on the application form they sent me. There was a rather amusing moment of complete silence and then the shutters came down. I was told I had to write in (again) giving all the information I had including laughably me sending the a copy of the copy of the agreement they sent me. I drew their attention to the fact that I would also be including a recent case study of almost identical circumstances on the FOS website where a complaint was upheld and the common failings section 9 piece as well (thanks EXC). They told me they would respond to my re-complaint within 4 weeks. Just posted it recorded delivery so here's hoping.

Nice one peeps!
I am in exactly the same position with a claim on behalf of MrsA - ongoing since last September,just awaiting the enevitable rejection letter ,but they too have sent me a copy of her original app form 'strongly recommending' PPI.
LOL
Good luck with your latest attempt.

[dogtired]

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

Have to get around to being a VIP but do not have pay pal:tinysmile_cry_t:

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

Good. Thanks Paul.