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

[The Debt Star]

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

Hey Bill, Egg are about to pay out on my PPI claim. I'll PM you their calculations when I get 'em. Those Egg boys are the biggest knob jockeys of them all and I'll need to go back for more £ by being armed with enough ammo to take down their HQ. Hope you can help me do it.

[Bill-K]

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

You seem just a little bit cross there, DS. Ah well, it's Easter innit ? If you can't crack a few eggs then, when can you ?

[debtisbad]

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

Hey Bill, Egg are about to pay out on my PPI claim. I'll PM you their calculations when I get 'em. Those Egg boys are the biggest knob jockeys of them all and I'll need to go back for more £ by being armed with enough ammo to take down their HQ. Hope you can help me do it.

When I attempted to claim back my PPI on an account with Egg, they sent the usual refusal letters. Since I insisted that they had mis sold the insurance, they eventually sent a sound file to me of the "sales conversation".

What a joke. I said I was in Belgium and worked abroad most of the year and the sales person said that she would put the insurance through immediately to give me instant cover. Anybody knows that PPI does not cover people working abroad.

Not only that, but the sound file needed a lot of technical know-how to open, as they sent a pin number as well, meaning that many none-technical people would give in.

I had to write to Egg yet again and they eventually paid.

What a bunch of gangsters they are.

[pompeyfaith]

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

This states what I believe we have all been saying for a long time, that the banks are not above the law.

http://www.independent.co.uk/money/s...y-2274024.html

[cappo]

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

This states what I believe we have all been saying for a long time, that the banks are not above the law.

http://www.independent.co.uk/money/s...y-2274024.html

they think they are though p.f

[di30]

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

And who's been keeping the main of banks afloat?

And of course being bailed out?

My 2 sisters who used to work for a bank are just glad to be from there, and have far better jobs and are much happier.

[di30]

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

What the court decision on PPI means for you

24 April 2011

Millions of borrowers who were mis-sold insurance on loans or credit cards are closer to receiving compensation after the courts last week rejected a challenge by the British Bankers' Association (BBA).

The verdict on payment protection insurance (PPi) is being hailed as a victory over the banks, although it will not necessarily result in payouts being made quickly. Financial Mail explains what it means to you:

What did the courts decide?
The banks had called for this judicial review, arguing that new complaint procedures issued by the Financial services Authority (FsA) last year were wrong. The regulator wants the new rules to apply to past sales too.

The banks also challenged the right of the Financial ombudsman service to use FSA 'principles' - general statements about the way firms should behave - in judging such cases.

But Mr Justice Ouseley found that the FSA and ombudsman were entitled to hold banks to the tough standards to assess claims.

What does this mean for customers?
It opens the way for up to three million customers to get a refund on insurance premiums that they have paid for mis-sold PPi, plus interest.
Peter Vicary-Smith, chief executive of consumer group Which?, says: 'This is a huge victory for consumers.'
Not only will the banks have to pay out to complainants, they must also re-examine PPI sales since 2005 and assess them against the new standards, even if a consumer has not complained. The FSA estimates that compensation could total £4.5bn.
So far more than 1.5m successful claims have been made over PPI mis-selling, with payouts averaging £2,750, and 19 firms have been fined by the regulator over PPI sales.

How quickly will things move?
That depends on whether the banks decide to appeal against the verdict. First, they must seek leave to appeal and have until May 10 to do that.
A judge will then decide if there are grounds for an appeal. If granted, the process could drag on for months. But if the BBA throws in the towel, claims could move quickly.
Adam Phillips, chairman of the Financial Services Consumer Panel, says: 'it would be disappointing if this marked the beginning of a long legal dispute. It is time for the banks to stop hiding behind lawyers and finally give consumers the redress they deserve.'

Why might I have a case?
The courts have no problem with payment protection insurance itself. It can sometimes help cover essential loan repayments at a time of crisis, for example, if you cannot work after an accident.
But in many cases, the way the cover was sold has been wrong. High sales commissions helped fuel a culture where borrowers were pushed into taking out PPI.
Borrowers may not have needed the cover, for example if they already had protection for illness or accidents via work sick pay, or they may not have been able to claim for unemployment because they were self-employed. In many cases, consumers were not given basic information about the insurance. And some borrowers may not even have realised PPI was bundled along with their loan.

What should I do if I think I have a claim?
Contact the organisation that sold you the insurance. This will typically be the bank that arranged your loan or provides your credit card.
If it rejects your claim or does not reach a conclusion within eight weeks, the next step is to involve the ombudsman. Call 0300 123 9123 or visit the financial ombudsman site.


What about claims already in the system?
Many of these have been put on hold by lenders, pending the outcome of the judicial review. And banks say they are entitled to continue to sit on these until the legal process is completely finished. But the regulator disagrees.
It said last week that there was no blanket exemption on processing complaints. Some cases will be so clear-cut that regardless of what the judicial review says, a firm will still be in the wrong and have to pay appropriate compensation.
Others fall outside the scope of the review. The FSA warned that firms that do not deal with complaints promptly could face action and further fines.


Can I take a stalled case to the Financial Ombudsman Service? Yes. Even if a lender has decided not to process your complaint, you can still get the ombudsman involved, which may decide that the bank is wrong to stall the complaint and make a ruling anyway.

[The Debt Star]

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

When I attempted to claim back my PPI on an account with Egg, they sent the usual refusal letters. Since I insisted that they had mis sold the insurance, they eventually sent a sound file to me of the "sales conversation".

What a joke. I said I was in Belgium and worked abroad most of the year and the sales person said that she would put the insurance through immediately to give me instant cover. Anybody knows that PPI does not cover people working abroad.

Not only that, but the sound file needed a lot of technical know-how to open, as they sent a pin number as well, meaning that many none-technical people would give in.

I had to write to Egg yet again and they eventually paid.

What a bunch of gangsters they are.

Tell me why
I don’t like 'fry' days
Tell me why
I don’t like 'fry' days
Tell me why
I don’t like 'fry' days
I wanna shoo-oo-woo-woo-woo-oot the whole bank down
------------------------------- merged -------------------------------

You seem just a little bit cross there, DS. Ah well, it's Easter innit ? If you can't crack a few eggs then, when can you ?

I 'shell' overcome them Bill

[MBD23]

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

according to the Sunday Times could still be 2 years to go, 21 days to appeal , court of appeal could take till xmas and supreme court could then take another year:tinysmile_aha_t:

[Bill-K]

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

Leave to appeal has to be granted first, though, dunnit ? Who - in their right mind - would grant that ?

I apologise. Some barsteward will. It's another world, up there, innit ?

But I ain't giving up.

Don't you guys, either.

[charitynjw]

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

Time for a letter, methinks!

"Disgusted of Scotland" would be good lol

[di30]

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

Morning folks

Nothing surprises me, they will try to drag it out for as long as possible, when the shoe is on the other foot when they have issues its another matter, they think they are a cut above, just like what the media said in one of the links posted here yesterday!

[leclerc]

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

Leave to appeal has to be granted first, though, dunnit ? Who - in their right mind - would grant that ?
I think I gave the grounds earlier on in this thread and to be honest the fact that it is an important issue is enough for an appeal. I think AC and myself both agree on this one that an appeal will be granted.
I apologise. Some barsteward will. It's another world, up there, innit ?

But I ain't giving up.

Don't you guys, either.

See above. The appeal is going to happen and will be granted.

[cappo]

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

according to the Sunday Times could still be 2 years to go, 21 days to appeal , court of appeal could take till xmas and supreme court could then take another year:tinysmile_aha_t:

there fools then and shouid,nt be in business, think of all the money in extra interest they wouid have to pay , now had a very small tesco card come in £125.00 was the cost of the ppi ,it cost them another £60.00 in interest on top. That wouid be what wouid bankrupt the banks not the basic cost of the ppi another 2 years they wouid have to be pretty sure of themselves as bill says an appeal won,t be allowed and in an ideal world this wouid probably happen but we don,t live in a fair world and since when do banks worry about the "little people"

[SoapyBubbles]

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

according to the Sunday Times could still be 2 years to go, 21 days to appeal , court of appeal could take till xmas and supreme court could then take another year:tinysmile_aha_t:

If these are the upcoming time scales we could be looking at should an appeal go ahead then so be it. The joys of living in a democratic and civilised country, eh? Much as I have absolutely no love for the banks, I am however very grateful to live in a country where there is law and order which can be upheld and subsequently challenged through the courts of the land.

Much as it would please everyone if the banks just done the honourable thing and admitted defeat and got on with the refunds, I think we all know it's not going to happen. They are entitled to appeal so unless they find some morals we are most probably in for a bit of a longer wait.

Most of our frustration and anger is because of the banks however as Martin Lewis said "They either play the game within the rules or they don't play the game at all".

The banks cannot in any way shape or form have the luxury of the appeal process whilst blatantly defying their regulator during the appeal.

The banks have no right whatsoever to keep complaints on hold during any appeal. It has not been sanctioned by the FSA.

So as much as my anger and frustration is with the banks, the FSA also has to take some of the blame.

There is no ifs, buts or maybes. The FSA has to show strength to the consumer. Now more than ever before. They have to be taking strong and direct action against the banks not just telling the consumer they can take their complaints to FOS. Which is now totally inundated with PPI cases and as a result you will have a very long wait before you get a decision.

The FSA telling consumers they can take their complaints to the FOS just isn't good enough.