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

[enaid]

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

Thanks george I wasn't having a go and I agree I hope now people will leave this thread as was intended about the review.

[pompeyfaith]

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

Agreed and back to the JR, George your comments on the JR are must welcome here because whether we are doing are claims on our own, via a CMC or with a solicitor we all have that common goal in keeping up with the latest events and hoping that the Judge will go in the FSA and FOS favour.

[leclerc]

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

are we taking bets on the Supreme Court deciding the case?

[Angry Cat]

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

http://www.martinfrost.ws/htmlfiles/jan2011/bn1803.html

Banks face £4billion blow in PPI mis-selling scandal
Jo Thornhill - Mail on Sunday - 30th January 2011

Banks could be forced to reopen tens of thousands of mis-selling complaint cases over payment protection insurance and pay compensation of more than £4billion following a legal investigation.

Even consumers who have never complained about the sale of a policy with a loan or a mortgage could find themselves being contacted by their provider and offered compensation.

A judicial review brought by the banks against the Financial Services Authority and Financial Ombudsman Service began last week at the High Court.

The banks argue that the criteria the watchdogs are using to decide on complaints is more onerous than the rules that were in force at the time the insurance policies were sold. They say it is unfair to apply the rules retrospectively.

But if the banks lose their case they will have to look again at thousands of policies they have sold.

Payment protection insurance covers debt repayments in the event that a policyholder is unable to work due to illness, injury or redundancy. But many consumers found that they would not qualify for a payout due to exclusions in the small print. Others did not even know that they had taken out the cover as the cost had been rolled up with their loan.

The FSA took over regulation of PPI in January 2005, but the FOS can also look at cases that pre-date this if they were sold by banks or building societies.

Under the new rules of sale, providers must talk through the key features of the cover, pointing out any exclusions. It must also be made clear to the customer that cover is optional when taking out a loan or credit card. This rarely or never happened in the past.

Regulators say that PPI complaints remain a huge problem. The Ombudsman is struggling under the weight of the growing case load.

So far more than 160,000 cases have been referred to the FOS and it is receiving up to 3,000 new cases every week. And in a figure that shames the major lenders, the Ombudsman has upheld the complaint in 89 per cent of the PPI cases it has dealt with.

Adam Phillips, chairman of the Financial Services Consumer Panel, the Government body set up to protect the interests of consumers, says the judicial review is a cynical ploy by the banks to delay further a resolution for thousands of customers.

Some banks, including HSBC and Lloyds, have put PPI complaint cases on hold while the review takes place, even though they know this process could take as long as six months.

'Banks must continue to deal with PPI cases on their merits and not try to pass the buck to the FOS,' says Phillips.

'Banks should hold up their hands and admit their mistakes. It is time for the industry to stop hiding behind expensive lawyers, leaving consumers to wait years for the financial redress they deserve.'

Ken Wilson, 70, is hopeful that a positive outcome from the judicial review will add weight to his PPI mis-selling case, although it dates back more than ten years.

Ken, who lives with his wife Jean, 64, in Middlesbrough, lost his signwriting business in 1998 after he became ill. His doctor signed him off work with 'depression and confusion', but despite having paid premiums totalling more than £3,000 to NatWest for a policy linked to his business loan for more than seven years, the bank threw out his claim.

It did this after trawling through his medical notes and discovering that he was a diabetic. Ken insists that he told them of his illness at the time he took out the policy.

To make matters worse, NatWest had made Ken's business loan conditional on his taking out the PPI.

Ken complained in 1999 and NatWest paid back about half of his premiums. But Ken has always felt aggrieved by the way he was treated. Fuelled by Financial Mail's coverage of scandalously poor complaints handling by the banks, he has sought to have his file reopened.

The FOS has been unable to uphold Ken's case because it says there is insufficient evidence, plus Ken's acceptance of the refunded premiums in 2000 suggests that the matter was closed at that time.

'Recent coverage by Financial Mail on the PPI scandal gave me hope that my case could be considered again,' says Ken. 'I've always felt I was not given a proper hearing by NatWest or the FOS.

'A positive outcome from the judicial review could add strength to my claim that I was badly mis-sold.

'I lost my business and my livelihood in part due to this poor product and the bank's awful sales practices. It seems only fair I should be rightly compensated.'

A NatWest spokesman said: 'The ombudsman is still looking at the case on a final appeal, but we are confident the refund of premiums we have already paid to Mr Wilson is satisfactory.'

[Angry Cat]

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

are we taking bets on the Supreme Court deciding the case?

Odds-on favourite, leclerc!

[di30]

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

I have 2 dated 1999 and 2000, do you think I would or anyone with reclaims from those years will stand a chance as well? if the banks lose that is? these 2 are via Lloyds.

[pompeyfaith]

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

Go for it Di you have nothing to lose and plenty to gain as you know I got a good redress on a policy missold to me in March 1999 so it can be done if you grind them down.

Indeed they will play the damage limitation game and also hope you will give up but just stay firm and carry the claim though to the end.

Worked for me and I am sure it will work for many others.

Furthermore they also believe we do not know the laws, regulations and guidance in place to help us get justice how wrong are they lol indeed many consumers are waking up and learning though great sites like this

Long may that continue

[di30]

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

Go for it Di you have nothing to lose and plenty to gain as you know I got a good redress on a policy missold to me in March 1999 so it can be done if you grind them down.

Indeed they will play the damage limitation game and also hope you will give up but just stay firm and carry the claim though to the end.

Worked for me and I am sure it will work for many others.

Furthermore they also believe we do not know the laws, regulations and guidance in place to help us get justice how wrong are they lol indeed many consumers are waking up and learning though great sites like this

Long may that continue

Thank you so much PF, its reassuring knowing that you and also others have been successful from older accounts, even though I do lack paperwork, I have the statements - although not all but have the account numbers showing and the amounts paid per month, we were always sold ppi and was always told to have the loans we must have ppi as part of being accepted, so will continue with this then.
For a start I could never have made a successful claim on them anyway.

I had already made a start anyway but these are held at the moment like most others.


Will keep you posted.
Thank you.

[pompeyfaith]

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

even though I do lack paperwork

Di that was also the case with me at the beginning, you have to just keep hammering at them lol it was quite amazing the amount of info I was able to get out of them.

If they do not comply with the first SAR send a letter informing them of such and Ill wager it is a differant person that deals with the second letter.

[di30]

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

Di that was also the case with me at the beginning, you have to just keep hammering at them lol it was quite amazing the amount of info I was able to get out of them.

If they do not comply with the first SAR send a letter informing them of such and Ill wager it is a differant person that deals with the second letter.

Thanks again for this PF.

I already SAR'd them over a year ago, which is why I had made the last 6 reclaims as from 2001, where I had most details from, but only the account numbers shown on some of the statements 1999 and 2000, so do you think maybe I should request another one then perhaps, see what comes up?
Cheers.

[pompeyfaith]

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

Indeed Di also make a thread for it hun so we can keep this one of yours for the JR.

Ill then follow your progress on that thread ok.

Because of the age of these two it will be a good idea to have them in a thread of there own as it will make easier for anyone else to follow it.

[di30]

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

Thanks PF and thread set up.

Sorry for going off topic here folks, just wanted to make sure on a few things also in regards of the JR/timescale issues lol, I have now started a new thread for my reclaims, cheers.

[debtisbad]

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

I have 2 dated 1999 and 2000, do you think I would or anyone with reclaims from those years will stand a chance as well? if the banks lose that is? these 2 are via Lloyds.

Absolutely! My claim dated back to 1999 and the FOS forced the Scabby Abbey (now Santander) to cough up. This was despite Abbey writing to me, saying that they would not pay and that it was too old for the FOS to consider. Even when they had to pay me, which included by the way, interest and compensation, they were most unapologetic, saying that they did not agree with the FOS. Still, I received about 940 pounds back, very nice!

[di30]

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

Brilliant debtisbad, that is great news for you too.

Definately given me hope now, thanks.

[pompeyfaith]

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

My claim for a loan in march 1999 which did not go the full term amounted to over 2.3K not bad at all for a claim I thought at the start i'd have no chance of getting back.