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

[Amethyst]

Re: Lloyds puts PPI claims on hold in defiance of regulator

Don't take that as read at all though, we're trying to get precise info off the bba now so we will be able to effectively advise on peoples individual claims and whether they will be affected or not. Might take some time.

[Amethyst]

Re: Lloyds puts PPI claims on hold in defiance of regulator

This is the intro to the new handbook (which IS what the banks are having the JR about)


DISP App 3.1 Introduction


DISP App 3.1.1 01/12/2010 (1) 1This appendix sets out how a firm should handle complaints relating to the sale of a payment protection contract by the firm which express dissatisfaction about the sale, or matters related to the sale, including where there is a rejection of claims on the grounds of ineligibility or exclusion (but not matters unrelated to the sale, such as delays in claims handling).
(2) It relates to the sale of any payment protection contract whenever the sale took place and irrespective of whether it was on an advised or non-advised basis; conducted through any sales channel; in connection with any type of loan or credit product, or none; and for a regular premium or single premium payment. It applies whether the policy is currently in force, was cancelled during the policy term or ran its full term.

DISP App 3.1.2 01/12/2010 The aspects of complaint handling dealt with in this appendix are how the firm should: (1) assess a complaint in order to establish whether the firm's conduct of the sale failed to comply with the rules, or was otherwise in breach of the duty of care or any other requirement of the general law (taking into account relevant materials published by the FSA, other relevant regulators, the Financial Ombudsman Service and former schemes). In this appendix this is referred to as a "breach or failing" by the firm;
(2) determine the way the complainant would have acted if a breach or failing by the firm had not occurred; and
(3) determine appropriate redress (if any) to offer to a complainant.

DISP App 3.1.3 01/12/2010 Where the firm determines that there was a breach or failing, the firm should consider whether the complainant would have bought the payment protection contract in the absence of that breach or failing. This appendix establishes presumptions for the firm to apply about how the complainant would have acted if there had instead been no breach or failing by the firm. The presumptions are: (1) for some breaches or failings (see DISP App 3.6.2 E), the firm should presume that the complainant would not have bought the payment protection contract he bought; and
(2) for certain of those breaches or failings (see DISP App 3.7.7 E), where the complainant bought a single premium payment protection contract, the firm may presume that the complainant would have bought a regular premium payment protection contract instead of the payment protection contract he bought.

DISP App 3.1.4 01/12/2010 There may also be instances where a firm concludes after investigation that, notwithstanding breaches or failings by the firm, the complainant would nevertheless still have proceeded to buy the payment protection contract he bought.
DISP App 3.1.5 01/12/2010 In this appendix: (1) "historic interest" means the interest the complainant paid to the firm because a single premium payment protection contract was added to a loan or credit product;
(2) "simple interest" means a non-compound rate of 8% per annum; and
(3) "claim" means a claim by a complainant seeking to rely upon the policy under the payment protection contract that is the subject of the complaint.

[The Debt Star]

Re: Lloyds puts PPI claims on hold in defiance of regulator

Hi. Does this mean my Egg PPI compensation claims are probably scuppered now?

[Amethyst]

Re: Lloyds puts PPI claims on hold in defiance of regulator

Bit more confirmation from the bba - it is up to each bank to decide if they feel your claim is covered by the judicial review or not (so I guess lloyds have decided everything is) but the bba did say that agreements already reached with claimants would be honoured.

you can go to the FOs to say 'the bank say my claims affected by the JR and i dont think it is'

Still working out how and what claims might be affected as we're not letting the banks get away with just sticking everything on hold as potentially affected.

Court docs should be available from the courts in the next few days - so keeping ears to the ground on that.

[Tools]

Re: Lloyds puts PPI claims on hold in defiance of regulator

Spoken again and have sent this to hopefully clarify the situation a little more.

Whilst speaking on the phone I have asked if the documents could be sent to us, have been told they should be available quite soon from the Courts directly.

Could the BBA please confirm if the statement from the "Lloyds spokeswoman" is accurate being that all their complaints will be held or that they will now follow the BBA's updated statement that only complaints impacted by the Judicial Review may be held. It would also be useful if we could inform people as to what the criteria is for "impacted by" is.

We are expecting an influx of enquiries asking if individual complaints will be affected and it would be helpful to be able to assist people if the criteria was known.

Would it be possible for us to be supplied with any documentation relating to the Judicial Review or are these restricted.

Are we correct in assuming that the BBA and its members want:
Policies taken out up to 05/01/2008 to be restricted to the Regulations and Guidelines of ICOB
Policies taken out between 06/01/2008 and 01/12/2010 to be restricted to the Regulations and Guidelines of ICOBS
Future policies to be taken out after 01/12/2010 to be restricted to the upcoming and or any future Regulations and Guidelines

Is it the concerns of the BBA and its members that the FSA wish to apply the upcoming changes to all previous policies and that the FSA may apply their new powers for redress under the Financial Services Act 2010 to such complaints.

If we have misunderstood or have do not have the full extent of the concerns could you please let us know.

Many thanks again for your time and continued assistance

[Amethyst]

Re: Lloyds puts PPI claims on hold in defiance of regulator

A spokeswoman for Barclays, says: “All PPI-related complaints will be reviewed as we receive them - if they are impacted by the issues covered by the judicial review and therefore cannot be resolved at this point then we will write to the customer to inform them of that.
“Complaints on matters not affected by the judicial review will be assessed in the normal way.”

[marshallka]

Re: Lloyds puts PPI claims on hold in defiance of regulator

Bit more confirmation from the bba - it is up to each bank to decide if they feel your claim is covered by the judicial review or not (so I guess lloyds have decided everything is) but the bba did say that agreements already reached with claimants would be honoured.

you can go to the FOs to say 'the bank say my claims affected by the JR and i dont think it is'

Still working out how and what claims might be affected as we're not letting the banks get away with just sticking everything on hold as potentially affected.

Court docs should be available from the courts in the next few days - so keeping ears to the ground on that.

I thought that might be the case cause how it reads is IF your complaint is PPI related then they could easily say its to do with the review... in other words they do not know how to approach it (well they do but they won't!!), and if your complaint is not to do with PPI then we will look into it...

[The Debt Star]

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

presumbaly all interest and charges remain frozen on disputed accounts though pending this application and perhaps the best response is to stop paying the creditors?

[Amethyst]

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

No Marsh, it's PPI claims affected or not affected by the review, not complaints. So some PPI claims will be okay and some will be held, but trying to sort out definatively what will deem a PPI claim as coming under the JR banner.

[marshallka]

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

presumbaly all interest and charges remain frozen on disputed accounts though pending this application and perhaps the best response is to stop paying the creditors?

Would that be wise? I thought you had to have permission to put your account into dispute?

[Amethyst]

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

presumbaly all interest and charges remain frozen on disputed accounts though pending this application and perhaps the best response is to stop paying the creditors?

I wouldnt recommend you stop paying your creditors unless there is a major dispute on your account. If you debt balance is less than your ppi reclaim then possibly, but I'd much prefer to continue making minimum payments to stave off any further problems with debt collection/court claims against you etc. Of course if your claim is affected by the judicial review, and if the banks win, you would have to pay the debt anyway. Same as bank charges, we didnt recommend people stopped making payments during the waiver in case the banks won (as they did) and court claims for the debts then followed (which they have with stacks of added costs etc)

[marshallka]

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

No Marsh, it's PPI claims affected or not affected by the review, not complaints. So some PPI claims will be okay and some will be held, but trying to sort out definatively what will deem a PPI claim as coming under the JR banner.

Ok, it is confusing and they need to be definate.

This is money have said

Banks will put on hold any complaints which relate to this legal case. This is likely to mean anyone complaining about how they were sold PPI will have to wait until the court case is resolved; other complaints will be dealt with as normal.

Read more: http://www.thisismoney.co.uk/credit-...#ixzz12E8SdEJJ

[Amethyst]

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

lol yes you did din't you, don't mind me am confuddled and half watching the miners

[di30]

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

My hubby received his email from the FOS in regards of his ongoing CC PPI issues here.......

Dear ,

Lloyds TSB are in the process of re-calculating your redress - I expect a response within the next 10 days.

I can confirm that your case will not be affected as your case has already been resolved. The only outstanding issue is that of the redress awarded.

yours sincerely
FOS

[nelliewops]

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

Ok, it is confusing and they need to be definate.

This is money have said

Banks will put on hold any complaints which relate to this legal case. This is likely to mean anyone complaining about how they were sold PPI will have to wait until the court case is resolved; other complaints will be dealt with as normal.

Read more: http://www.thisismoney.co.uk/credit-...#ixzz12E8SdEJJ

So if this refers to anyone complaining about how they were sold PPI, what other PPI related complaints does that leave - aren't they all related to how it was sold...............or am I just being dim here?