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

[cardinals]

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

would be interesting to know why they are complying because welcome are part of cattles and not exactly flush with money so I would of though they would be one of the last to be co-operating.

Funny old world is the financial industry.

I think the reason for compliance is that the business needs to be kept intact ready for the announced re structure in late May.

Failure to comply would have led to censure from the FSA and a risk that either a) Wecome's Authorisation would be suspended or b) the FSA would not have approved the restructure / insolvency.

As part of the restructure Welcome are paying £20 million to the FSCS to deal with claims recieved after the 30th May.

If you have a claim against Welcome I'd suggest getting it in now as I believe turn around times will rise to around four to six months with FSCS.

Cheers

[TTT]

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

I Guys,
Last august, When I began to be aware of the PPI, I looked at my Loan documents (with MBNA) and realise that not only I was paying a very expensive insurance for my loan (which they told me I had to take in order to get the loan) but also I realise that they calculated the repayments by adding the PPI and the Loan togheter and then charging interest to the total. Is that legal? and if not, do I have to make a different claim for that?
I hope I'm making sense, numbers is not my thing

Thank you!

[Chip Tuesday]

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

Anyone heard from EXC recently? He went to the JR hearing and doesn't seem to have come back!

CT

[leclerc]

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

I believe he is away on holiday as he mentions changing travel plans earlier on this thread....

[Chip Tuesday]

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

ahhh, indeed he does, good spot there Leclerc!

CT

[ncf355]

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

I Guys,
Last august, When I began to be aware of the PPI, I looked at my Loan documents (with MBNA) and realise that not only I was paying a very expensive insurance for my loan (which they told me I had to take in order to get the loan) but also I realise that they calculated the repayments by adding the PPI and the Loan togheter and then charging interest to the total. Is that legal? and if not, do I have to make a different claim for that?
I hope I'm making sense, numbers is not my thing

Thank you!

TTT,

it's a good idea to start a new thread for this, seperate to this so it doesnt take away from the JR discussion

As a starter it sounds like you have a good case, but start a thread on it to allow everyone to give proper input


Go here:

PPI - payment protection insurance - Legal Beagles Consumer Forum

Then click the button near the top left "New Topic" to start your thread

[cappo]

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

hi guys,any news on the j.r i think we,ve all got a stake in it,we also know if the banks win there going to do there darnest to get out of paying any refunds/compensation like they did with both bank charges and unenforceability as an issue.

[ncf355]

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

Common belief seems to be we have 1 more week to wait for news

[cappo]

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

lets just hope we don,t have another repeat of the shambles that was the bank charges debacle, i think if the goverment ministers get involved and whisper in the judges ear it couid well be another nail in the goverments coffin i think it needs to be a peoples victory for a change.

[NLP]

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

lol

without the banks this little island would be a 3rd world country.... think about it... and you will stop the daydreaming and understand exactly what will be handed down by HH whoever.

[Gareth]

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

I, like many have been observing this site for quite some time, but have never contributed and thought it was about time I did. I do not hide I work in the claims industry and for what seems like an eternity, well since leaving the north west banking scene. I know personally, although they will not recognise the alias many people from this site.

I read with interest the recent posts of peoples opinions of the effects the Judicial Review could potentially have on the "Claims Industry" however I maybe being a little naive here but the implications of the FSA Disp being over turned and kicked out are not the end of the world.

As was said in a previous post I believe Mr Justice Ouseley asked the banks something along the lines would this prevent the amount of complaints/settlements, they replied not.

The inconsistancy in which the lenders are currently dealing with complaints raises concerns and I am of a firm belief that this is purely down to the the fact that there customer relations departments have insufficient funds/authority to issue the settlements that they were previously allowed. If there is going to be money left in the pot to settle a complaint you will always see this aarive at the begining of the month or quarter... your will see very rarely see large settlements and the end of the month/quarter... Gone are the days of the 50% MBNA offers that you got the cheque for, that you rejected, and then 14 days later you get the difference...

I hope I have been constructive to some degree.

[Angry Cat]

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

IMO, MBNA were one of the most difficult to deal with re: PPI!

Not forgetting Capone and Egg, of course...

[NLP]

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

The claims industry for PPI, on the scale it reached mid 2010, is over for good... no way in the world the government would allow the banks to be hung out to dry like that for an extended peiord of time.

There is a 100% misconception in this country that justice exists... its quite laughable that even now after the most blatant "inside job for the banks" namely the bank charges case... that some still belive this wont end in the same fashion.

time to move on folks.

[Angry Cat]

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

Such pessimism from, NLP!?

[leclerc]

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

NLP, I wouldn't have said 2010 but 2006 through to around July 2007. By 2010 the test case was done and dusted. Dare I say this but we'll move onto another form of misselling.......however proving packaged accounts misselling will require a lot more work though. Extras that are not worth it.