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

[Bill-K]

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

Agree, Bill-K!

Personally, I would not use a CMC but I would consider using a specialist legal firm in the case of a complcated PPI reclaim; some cases are extremely complex.

The problems faced by the apathetic, is finding a reputable CMC who will not rip them off?

We concur entirely, I feel, AC. Yep - the big problem seems to be filtering out the good guys when they all appear to be wearing white stetsons !!!

[roffster]

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

Yes, i believe they are still in business.

Out of interest, i called them last night and they have updated their answer message, saying 'following the decision on April 20th they hope claims will now start being assessed and decisions coming very soon. And will contact people blah blah blah, '

I dont know if i will be breaking any rules by disclosing their name! :noidea:

Yes, unfortunately despite the news last week and this the banks have not instantly started settling claims they put on hold. So it looks like your CMC has been as proactive as they can be. I have to say that at 10% they must be very selective with their cases as many successful claims are only a few hundred pounds and you won't get a lot of letters written or time devoted to a case for £40 or £50. If they are selecting only the cases that will deliver payouts in the thousands then it probably works for them. In my experience this would rule out most Credit Card cases and many smaller loans. There is a sort of 'market rate' and any higher and you will struggle to get business and much lower and you have to question what they are doing for it and how far they are prepared to go to win your case.
I have had many claims on hold like many people on here. Despite numerous chases and threats the banks were resolutely refusing to deal with them. Of course the FSA were quick to enforce their rhetoric with hard action......not! So we were really left with two options
1. Wait until the court case and any potential appeal was resolved (the preferred advice from this forum)
2. Take your complaint to the FOS and be prepared to wait for between 12months and two years!

Unfortunately I have a case of two claims that went to the FOS months ago, both of which have been upheld. The lender then ignored the Ombudsman, choosing to not even make contact after they were told to pay. The result is that the Adjudicator has had to refer the cases to the Ombudsman above him to re-look at the case and decide if the adjudicator was right and if so how to get the lender to pay up.
What a waste of time and money for the FOS.
Just fine them!!!!

[tatty27]

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

The Policy Statement (which is the new rules) requires firms to pay 8% simple interest:

3.45 Many responses from the industry felt that the 8% simple interest rate set out in our guidance as appropriate was too high and that we should consider the outcome of
the Ministry of Justice (MoJ) consultation on the rates used by the courts.

Our response: We responded to these points in CP10/6 (see paragraph 3.37 pg. 57). Since then the consultation by the MoJ has ended, but did not result in legislative change. So 8% remains in line with the approach of the courts and the FOS and we see no good reason to depart from it..

(“simple interest” means a non-compound rate of 8% per annum)

For the rules on interest added to the loan I suggest you word search 'interest' in the Policy Statement http://www.fsa.gov.uk/pubs/policy/ps10_12.pdf

Thanks for that

[Bill-K]

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

Oh - May I extend a welcome to those who have 'come out from behind the sofa' and said hello to us here, after following this massive thread for all this time. I guess there are probably many more who have been doing so, and are still reading it, so a sincere 'hi' to you guys, too, and thank you for your interest.

Big credit to our Di for starting it, too, of course !!! Cheers, Di !!! :tinysmile_kiss_t4:

[Footynut]

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

I have had two payouts from Lloyds last year. Does this mean my complaint will get re looked at and possibly i will receive more money as a result of the FSA's new rules??

Anybody know the answer to this?

[tatty27]

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

Anybody know the answer to this?

Yes, I'd be interested in that too, I've read the ruling and they should have given me the 8% and the new ruling states they should give me the interest I paid on the premium whilst it was included as in my loan

[leclerc]

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

"We're looking for someone who has submitted a PPI complaint and is awaiting a decision, tweet back or email laura.shannon@thetimes.co.uk"

message that was on twitter.

[Dukeydogg]

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

Never heard of them so thats a good thing.... I hope

I have just read on their website that refunds go directly to them. May I respectfully suggest that you now keep a strict eye on this and make sure that they pay you, your 90% as soon as they receive it. You may want to contact the banks which you have claim(s) with to ensure that they have not already paid them out.

I didnt even realize that. See this is what i mean.........a plain old simpleton like me gets lost in a world of big words and jargon!! Thank you for your help Tuttsi - i will keep you updated!! :thumb:

Yes, unfortunately despite the news last week and this the banks have not instantly started settling claims they put on hold. So it looks like your CMC has been as proactive as they can be. I have to say that at 10% they must be very selective with their cases as many successful claims are only a few hundred pounds and you won't get a lot of letters written or time devoted to a case for £40 or £50. If they are selecting only the cases that will deliver payouts in the thousands then it probably works for them. In my experience this would rule out most Credit Card cases and many smaller loans. There is a sort of 'market rate' and any higher and you will struggle to get business and much lower and you have to question what they are doing for it and how far they are prepared to go to win your case.
I have had many claims on hold like many people on here. Despite numerous chases and threats the banks were resolutely refusing to deal with them. Of course the FSA were quick to enforce their rhetoric with hard action......not! So we were really left with two options
1. Wait until the court case and any potential appeal was resolved (the preferred advice from this forum)
2. Take your complaint to the FOS and be prepared to wait for between 12months and two years!

Unfortunately I have a case of two claims that went to the FOS months ago, both of which have been upheld. The lender then ignored the Ombudsman, choosing to not even make contact after they were told to pay. The result is that the Adjudicator has had to refer the cases to the Ombudsman above him to re-look at the case and decide if the adjudicator was right and if so how to get the lender to pay up.
What a waste of time and money for the FOS.
Just fine them!!!!

This is it.......i dont actually know what i have, i sifted through 6.5 years of bank statements, looking at what debited my account. Wrote down the names, references and month/year and sent it off to the CMC. It took me about a week to do all in all.

When i purchased my first house in 2004 we took out loan, after loan, after loan. The next one bigger than before, 'consolidating' everything and repaying the old loan early with the new loan!! It was a nightmare!! I will have to dig out the copies that i sent the CMC and make some calls tonight. I didnt (still dont) know if there is anything for me to claim back. I am completely Clueless!!! :doh:

[roffster]

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

Anybody know the answer to this?

I didnt even realize that. See this is what i mean.........a plain old simpleton like me gets lost in a world of big words and jargon!! Thank you for your help Tuttsi - i will keep you updated!! :thumb:



This is it.......i dont actually now what i have, i sifted through 6.5 years of bank statements, looking at what debited my account. Wrote down the names, references and month/year and sent it off to the CMC. It took me about a week to do all in all.

When i purchased my first house in 2004 we took out loan, after loan, after loan. The next one bigger than before, 'consolidating' everything and repaying the old loan early with the new loan!! It was a nightmare!! I will have to dig out the copies that i sent the CMC and make some calls tonight. I didnt (still dont) know if there is anything for me to claim back. I am completely Clueless!!! :doh:

You can rest assured that you are not alone out there. Our learned friends on this site should remember that the vast majority of people out there have even less knowledge about this whole area than you do.
It can get pretty complex working out what might be due. Where a loan with PPI paid off a previous loan with PPI then some PPI was probably rebated (but not what you had already paid, just some future payments.) Some lenders will look at all loans you had with them to work out what you had rebated and what balance is due as part of a refund. Others will only look at the specific account number you put the claim in on. So always get as much paperwork as you can together and look for those loans that have paid off other loans, there is probably a separate claim you will need to make. Did your CMC raise a claim for each loan or just one? Who was the lender for the top up loans?

In my experience the vast majority of lenders will only pay the money to the client and not the CMC. I have had a few that send a cheque payable to the client via the CMC and a very few who have paid us directly. That would be unusual though.
Contact them and ask some questions.

[pompeyfaith]

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

When i purchased my first house in 2004 we took out loan, after loan, after loan. The next one bigger than before, 'consolidating' everything and repaying the old loan early with the new loan!! It was a nightmare!! I will have to dig out the copies that i sent the CMC and make some calls tonight. I didnt (still dont) know if there is anything for me to claim back. I am completely Clueless!!!

I had one of those 9 loans in total it took from start to finish 2.5 yrs mainly because the calculations where so complicated and if it was not for the help of this forum specially Bill and Turboman I would still be fighting the cause.

So thanks to them that one is sorted time now for Woolwich and Tesco.

[andrew1]

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

Just to add salt to the wound, has anyone thought about the 'secret commission' some of these loan companies would have paid to the insurance companies on these PPI creating another layer in this somewhat complex area of PPI by making the interest rates even higher than they would have been and something else you could claim back?

Paying a secret commission is not lawful -Imageview Management vs Jack for example.....that'll give some of you CMC's something else to get your teeth into....

[Angry Cat]

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

http://www.bbc.co.uk/news/business-13330858
------------------------------- merged -------------------------------

Just to add salt to the wound, has anyone thought about the 'secret commission' some of these loan companies would have paid to the insurance companies on these PPI creating another layer in this somewhat complex area of PPI by making the interest rates even higher than they would have been and something else you could claim back?

Paying a secret commission is not lawful -Imageview Management vs Jack for example.....that'll give some of you CMC's something else to get your teeth into....

Unfair Relationships...

[leclerc]

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

Citizens Advice response to British Bankers Association announcement on PPI

CAB statement on the BBA decision.
------------------------------- merged -------------------------------
“At long last the banks have decided to do the right thing in accepting that they must compensate the huge number of customers who were mis-sold PPI policies that were far too expensive and completely unsuitable for their needs.

“It’s now up to the banks to deal with claims quickly and thoroughly. The onus should be on them to contact all those affected rather than wait for customers to make a claim. It’s also vital that both banks and regulators learn the lessons of PPI to ensure a similar scandal on this scale cannot be allowed to happen again in the future.”

[cappo]

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

Just to add salt to the wound, has anyone thought about the 'secret commission' some of these loan companies would have paid to the insurance companies on these PPI creating another layer in this somewhat complex area of PPI by making the interest rates even higher than they would have been and something else you could claim back?

Paying a secret commission is not lawful -Imageview Management vs Jack for example.....that'll give some of you CMC's something else to get your teeth into....

the fos think secret commisions are ok, i put in a claim that cap 1 recieved a secret commision for selling my ppi and the fos have said capital one made a commercial decision not to disclose this and it was fine with the adjudicator,it wasn,t my understanding of the way things shouid be done.

[pompeyfaith]

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

I also was paying it to MBNA on ave £60 a mth, but as they took me to court and got a tomlin for £20 I am unsure if I can still claim it.

Worth a try though even if it just reduces the debt.

They did produce an agreement in court with no tick in the PPI TICK BOX lol and argued that I was not paying it despite the statements saying otherwise.

So time has now arrived to take this up with MBNA again.