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

[leclerc]

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

Help Needed please.
I have a friend that was declared bankrupt and he has been discharged for one year, He has loads of credit cards and loans that were part of the bankruptcy, if he makes a claim for mis-selling and is successful will the money be credited to him or the outstanding creditors (bearing in mind he has been discharged for over a year)?

Many thanks for any help

I'm afraid, that I don't think he make a claim since the loans were included in the Bankruptcy. If he had loans post bankruptcy then by all means but any PPI claim would have to go to the OR and then any left over afterwards would be theirs. I think we had a lot of these types of questions come up over Bank Charges and that was the answer then.

[cappo]

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

hi all just so you all know,beware if you are told by your bank you do not have ppi,got a standard letter last week saying i had no ppi on my accounts going back 12-15 years ago i knew i had so i challenged the ruling by appealing directly to the ceo,had 2 letters turn up today,one to tell me i had a loan with ppi on 1 to tell me i had ppi on a credit card,if you know you had ppi on borrowings don,t be fobbed off,stick to your guns!

[pompeyfaith]

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

Looks like the Government shares of Lloyds and RBS could be given to the taxpayers however the share price that the government paid of RBS 51p and Lloyds 74p would have to returned to the Government when you sell them.

Given that Lloyds shares where 8x that price pre-resession my bet is that they will in time gain on share price and would make a good investment.

So the taxpayer gains on share price the Government gets its bailout costs back providing they do not hit the floor which is remote and more importantly I think, the taxpayer is educated in the merits of investment

http://www.citywire.co.uk/money/ever...Comment#492699

http://www.cps.org.uk/cps_catalog2/g...%20shares2.pdf

[pompeyfaith]

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

hi all just so you all know,beware if you are told by your bank you do not have ppi,got a standard letter last week saying i had no ppi on my accounts going back 12-15 years ago i knew i had so i challenged the ruling by appealing directly to the ceo,had 2 letters turn up today,one to tell me i had a loan with ppi on 1 to tell me i had ppi on a credit card,if you know you had ppi on borrowings don,t be fobbed off,stick to your guns!

Cappo,

Thats the idea as I have always advocated, challenge ever letter the bank sends you remember to them this is just damage limitation and a consumers well being does not enter there tiny minds.

[igglepiggle]

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

Called Egg again today. They have finally decided to take my complaint off hold and investigate, but they couldn't give me any indication as to how long it will take.. I imagine the backlog is huge.

[dogtired]

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

It really isn't good enough, is it dogtired?

It's not your fault that their enquiries are taking longer than anticipated! It's not your fault they have built up a massive back log! It's not your fault that your frustrated! It's not your fault they used an unauthorised and unsanctioned hold against your complaint when they should of been processing it as normal!

Yet the banks still treat us like mere immortals!

The whole bloody PPI mess starts with the banks and I sure as hell hope it ends with the banks!

They sold/forced the worthless policies to thousands of people! They dismissed genuine complaints about it! They took their inferior arguement to the courts! They used an unsanctioned hold on our genuine complaints! They've been making us wait for months now through absolutely no fault of our own.

We the customers (and bank bailing tax payers) have done absolutely nothing wrong! We have sat in the sidelines waiting patiently for months

Where does the buck end? Really?

I really don't care if it has only been a week since the Judicial Review officially finished.

Getting a reply now saying "sorry for the delay, enquiries are taken longer than anticipated" really is salt in the ******* wound!

They've had bloody months! And if they had been processing complaints as they were supposed to they wouldn't be in the even bigger bloody mess than they are!

They really are a shower of ********!

Sorry my profanities!

Rant over!

My feeling exactly!
And the same for Bank of Scotland who are now with FOS who have an overload of complaints and still waitng, by this time these will be officially out of date, by a couple of months but due to the delays and confusions (getting one mixed up with the otherand speaking to me as if I had a screw loose) if it had not been for this site I thinkI would have given up!

xx dt

[pompeyfaith]

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

if it had not been for this site I thinkI would have given up!

That is something we all must never do, as that is what they want rather than play into there hands challenge everything and keep at them as in the end they will roll over just to get rid of you.

Remember long running complaints do not look good on them and complaints data does now get made public.

[Garlok]

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

The problem PF is that banks like Barclays are just in denial about complaints, disputes and the like.

They just keep on denying any dispute exists, they refuse to deal with appointed representatives like sols, CCCs, CAB hence the complaints figures are always massaged in their favour.

regards
Garlok

[dogtired]

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

Thanks PF not going to give up!
I also have a "welscum" one that it now in its THIRD year!
xx DT

[pompeyfaith]

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

For anyone with an IVA, Bankrupt or in a DMP with PPI on those accounts this may interest you.

http://www.which.co.uk/news/2011/05/...i-cash-253572/

[di30]

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

Thanks for that PF.

On my claims a year or so ago, via Lloyds, on the one that was still ongoing that we fell into difficulties with at the time, they did actually award the redress to that account, and we then received the interest.

On the other few with Lloyds because they were on settled accounts, they awarded the full redress directly to us, even though I assumed they would still award these to the active one.....they never.
So in this case then if they are settled accounts, and you also have another ongoing account with them, they must treat these separately then?

So of course as you know, I have 2 more ongoing with them, and these are old settled accounts, I assume if successful we would receive the refund, and this will not be awarded on the one that is still ongoing?

[di30]

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

This article not actually related to these issues on this thread as such but..........

http://www.thisismoney.co.uk/investi...ge_id=166&ct=5

Will you get a Lloyds & RBS shares windfall?

A think tank has proposed that every taxpayer should be handed a windfall of shares in Lloyds and RBS – but how would it work?




The Centre for Policy Studies (CPS) plan would see taxpayers receiving more than £1,000 worth of shares in both the bailed-out banks.
It is reported to have the backing of a number of senior Conservatives, including Matthew Hancock, who used to be George Osborne's chief of staff, and Lord Saatchi who is chairman of the think-tank. This is Money takes a look at how the CPS plan works and whether it is likely to ever happen.

[pompeyfaith]

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

Di,

Post 3363 above lol but yes could be a good idea although the original selling price the government paid would have to be returned to them once you sell plus any profit you make on those shares will be subject to 18% CGT so a win win for the government however they should be seen as an investment and not a quick buck as no doubts eventually those shares will return to the high levels of pre-recession.

[di30]

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

Cheers PF, how I missed your post prior to mine lol, sorry hon.:tinysmile_grin_t:

So any banks paying out ppi yet folks?

[leclerc]

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

This article not actually related to these issues on this thread as such but..........

http://www.thisismoney.co.uk/investi...ge_id=166&ct=5

Will you get a Lloyds & RBS shares windfall?

A think tank has proposed that every taxpayer should be handed a windfall of shares in Lloyds and RBS – but how would it work?




The Centre for Policy Studies (CPS) plan would see taxpayers receiving more than £1,000 worth of shares in both the bailed-out banks.
It is reported to have the backing of a number of senior Conservatives, including Matthew Hancock, who used to be George Osborne's chief of staff, and Lord Saatchi who is chairman of the think-tank. This is Money takes a look at how the CPS plan works and whether it is likely to ever happen.

With respect, why would we want shares that the government now want to give away, are they that worthless? I'm not sure I want any of those shares cos they come with added sales. Go into any branch of natwest/rbs and lloyds and pay a cheque in or some cash.......bet you that they try and sell something you just have to have........I'd prefer to drink my own urine to be honest.
Anyone else really want those useless shares?
------------------------------- merged -------------------------------

For anyone with an IVA, Bankrupt or in a DMP with PPI on those accounts this may interest you.

http://www.which.co.uk/news/2011/05/...i-cash-253572/

To quote the whole article cos I think it is very well made:


"As the banks admit defeat on Payment Protection Insurance (PPI) mis-selling claims, thousands of consumers could never see a penny of their refund.

If you're currently bankrupt or in an Individual Voluntary Arrangement (IVA), it's unlikely that you'll personally receive a full PPI refund in cash as at least some of the money will usually go automatically against your debts.

However, if there is an element of compensation paid alongside the PPI refund, you may be able to ask for that amount to be paid directly to you. In all cases, it's best to ask your lender how they intend to repay you. If they plan to offset the entire refund against your debt, ask them to justify their decision. If you can't reach agreement, you can, if necessary, take the matter to the Financial Ombudsman Service for a ruling.

If you're in an IVA
If the refund of PPI is from a bank or creditor to whom you still owe money, it's likely that they will offset the refund against the amount of debt outstanding with them. Any surplus may be returned to you but will be taken into account by the person administering your IVA, who will probably insist that the money is used to repay other creditors. It's still worth putting in a PPI claim though as the refund could reduce the damage to your credit score of being in an IVA.

What is an income payments agreement (IPA)?
If you are bankrupt and have more income than you need to pay for your reasonable day-to-day living expenses, the official receiver will ask you to make payments under an IPA. If you do not agree, the official receiver will apply to court for an IPO.
An IPO is a court order, so if you don't keep up the payments, your trustee can ask for money to be taken directly from your wages, or take other legal action to recover the unpaid amounts.
The Insolvency Service
If you've gone bankrupt
You have a duty to inform the Official Receiver (OR) of any lump sum received while you're bankrupt (including PPI refunds, bequests in someone's will and redundancy payments). The OR may decide to use this money to repay your creditors. This is particularly likely if you have an income payments agreement (IPA) or income payments order (IPO), and you may have to make extra payments even after you've been discharged from bankruptcy.

If you're in a debt management plan
If you receive a PPI refund, it's likely the lender will knock the refund off whatever you owe them. Any surplus will be returned to you.

As debts are not usually written off under a DMP, but rather are rescheduled, a PPI refund will help you in the long run by reducing any outstanding arrears and meaning you'll pay off your debt quicker. This could be of particular help to people with mortgages who are at risk of repossession.

It's not too late to put in a PPI claim
Which? debt expert Martyn Saville commented: 'Anyone who's currently in a debt solution such as an IVA should not bank on receiving a PPI refund in cash. However, it's still worth putting in a claim if you think you've been mis-sold. A PPI refund could get you out of debt quicker, reduce your arrears and help rebuild your credit record.

'Plus, it's far better that the PPI you've wrongly paid is knocked off the debt you owe, rather than lining the pockets of banks to whom you would otherwise still owe the money.

'Just don't use a claims management company or a commercial debt management company to put in your PPI mis-selling claim - you can do it yourself for free with our online PPI reclaim tool.'

Has mis-sold PPI has caused debt problems?
If you think that the money you've paid out for mis-sold PPI is to blame for your debt problems, write a formal complaint to your lender spelling out your circumstances and asking that they not only refund your mis-sold PPI, but also take into account any resultant expenses, inconvenience and stress.

Emma Bryn-Jones from debtors’ co-op, Zero-credit, commented: 'On the surface, it may seem entirely appropriate that PPI claims from debtors are used to repay debts. However, when a creditor who mis-sold PPI can simply offset the refund against a debt in which unnecessary PPI may have been a principal contributor to financial difficulties, these arrangements do not even begin to consider the creditors' duty of care for individual consumers.' "