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

[EXC]

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

My comment related to when the FSA took over the Regulation of PPI (general insurance) from the GISC:
General insurance regulation

There is no relationship between when the FSA took over insurance regulation in 2005 and the consideration of pre 2005 PPI complaints by the Ombudsman under GISC.

The FOS was established in 2001 (the same year that GISC came into effect) and although they are accountable to the FSA it’s a bit of a myth that they didn’t and don’t consider cases of PPI that applied to the GISC era prior to the FSA regulating insurance under ICOB & ICOBS.

[cappo]

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

Hello beautiful boys and beautiful girls!

I am indeed smiling from ear to ear!

For those of you that read my previous post will know that I have had pending complaints with both FirstPlus/Barclays and MBNA since October last year.

Started to e-mail the CEO of both companies recently and the wheels did begin to turn.

The decision from Barclays today is of course awesome. Much as I hate the way they have treated me and other tweeps the last few months, I do have to commend them for their decision today. Still hate them, just not as much. LoL!

So all in all hopefully the complaint with Barclays will now finally be sorted sooner rather than later. Don't think my e-mailing to the CEO at Barclays had anything at all to do with this decision however I like to think I had a little tiny input. LoL!

With regards to MBNA. Been e-mailing and having phone conversations with a senior manager within the CEO the last 10 days and he did assure me he would try and get me information of substance about the complaints. Never in my wildest dreams did I expect the letter (which is now below my pillow) I received on Friday....(it's good news, don't worry tweeps)

And believe it or believe it not it is actually signed with an actual pen (I know it's real pen caused I wet my finger and smudged it LoL) by no other than the infamous figure of Gail Powell (Vice President).

The letter is quite a long letter explaining why the complaints were on hold and how sorry they were for the delays.

I haven't a scanner handy so I will just type word for word the most important two paragraphs-

'Please accept this letter as confirmation that the complaint you made has been upheld in your favour and we will be issuing a full refund for all accounts listed. These refunds will be inclusive of all PPI premiums charged, the associated interest charged on these premiums and 8% credit balance interest.

We will use FSA and FOS guidance to calculate exactly what your refund will be and this will be completed within 4 weeks. I cannot give you a specific date when this will be done, but rest assured that we are making all available efforts to ensure that every complaint that has been affected by the judicial review is resolved without any further delay.'


It got me horny!

That is 5 loan accounts over a period of 10 years! The loans range from £2500 to I think £20000!

As there is five accounts will they refund each one separately or would they credit one lump sum for all the accounts?


Once again guys and girls I can't think you all enough for the advice and comments you have all given to me the last few months. It really is appreciated from the bottom of my heart! A big special thank you (again) to all the guys and girls who supplied the absolutely invaluable information during the Judicial Review. And another special thank you for the tweeps that run the site and keep it active.

Hopefully once the green stuff starts to grace the bank account, I will have absolutely no hesitation in making a donation to this site! Because without it there would be a lot of lost little souls in the land!

Nice one soapy,i've not been on for 2-3 days and this is excellent news to come back to,excellent,well done and congrats on a result for all your hard work as you say,awesome:amen:
------------------------------- merged -------------------------------

Very pleased for you Soapy...........well done

I heard from the FOS last week that LTSB were going to repay the last loan PPI with that bank (which dates back to the early 1990s!!!) as a gesture of goodwill - I don't know how much yet but as I paid it for 7 years it should be a reasonable amount Will keep you all posted...............

Nellie x

Well done:amen:

[di30]

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

Very pleased for you Soapy...........well done

I heard from the FOS last week that LTSB were going to repay the last loan PPI with that bank (which dates back to the early 1990s!!!) as a gesture of goodwill - I don't know how much yet but as I paid it for 7 years it should be a reasonable amount Will keep you all posted...............

Nellie x

Nellie, so sorry to have missed this one earlier, that is fab news! Well done!

This is giving me hope now on another 2 we had with Lloyds 1996 and 1997, the only issue is - is again lack of paperwork, although as you know my recent wins via Lloyds on my thread I have just been successful on them 2 dated from late 1999 to 2001, and with lack of paperwork as well.

However, I remember the 1996-97 loans very well, with them being our first ever ones, and still remember the repayment of £111.18 a month lol.

Do you think there's hope for me on these hun? cheers x
------------------------------- merged -------------------------------

Hello beautiful boys and beautiful girls!

I am indeed smiling from ear to ear!

For those of you that read my previous post will know that I have had pending complaints with both FirstPlus/Barclays and MBNA since October last year.

Started to e-mail the CEO of both companies recently and the wheels did begin to turn.

The decision from Barclays today is of course awesome. Much as I hate the way they have treated me and other tweeps the last few months, I do have to commend them for their decision today. Still hate them, just not as much. LoL!

So all in all hopefully the complaint with Barclays will now finally be sorted sooner rather than later. Don't think my e-mailing to the CEO at Barclays had anything at all to do with this decision however I like to think I had a little tiny input. LoL!

With regards to MBNA. Been e-mailing and having phone conversations with a senior manager within the CEO the last 10 days and he did assure me he would try and get me information of substance about the complaints. Never in my wildest dreams did I expect the letter (which is now below my pillow) I received on Friday....(it's good news, don't worry tweeps)

And believe it or believe it not it is actually signed with an actual pen (I know it's real pen caused I wet my finger and smudged it LoL) by no other than the infamous figure of Gail Powell (Vice President).

The letter is quite a long letter explaining why the complaints were on hold and how sorry they were for the delays.

I haven't a scanner handy so I will just type word for word the most important two paragraphs-

'Please accept this letter as confirmation that the complaint you made has been upheld in your favour and we will be issuing a full refund for all accounts listed. These refunds will be inclusive of all PPI premiums charged, the associated interest charged on these premiums and 8% credit balance interest.

We will use FSA and FOS guidance to calculate exactly what your refund will be and this will be completed within 4 weeks. I cannot give you a specific date when this will be done, but rest assured that we are making all available efforts to ensure that every complaint that has been affected by the judicial review is resolved without any further delay.'


It got me horny!

That is 5 loan accounts over a period of 10 years! The loans range from £2500 to I think £20000!

As there is five accounts will they refund each one separately or would they credit one lump sum for all the accounts?


Once again guys and girls I can't think you all enough for the advice and comments you have all given to me the last few months. It really is appreciated from the bottom of my heart! A big special thank you (again) to all the guys and girls who supplied the absolutely invaluable information during the Judicial Review. And another special thank you for the tweeps that run the site and keep it active.

Hopefully once the green stuff starts to grace the bank account, I will have absolutely no hesitation in making a donation to this site! Because without it there would be a lot of lost little souls in the land!

WOW, Well done to you! fab news this, made me smile big time anyway lol x

[EXC]

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

The FSA have added HSBC to the list of banks that have been given extra time to deal with PPI complaints.

BBC News - HSBC given extra time to deal with PPI complaints

[dogtired]

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

RESULT!
This is one i had with Marks and Spencer which was settled in 2005
had to wait almost 10 weeks but had an offer in the post today which I am more than happy with, Just Barclay's and Bank of Scotland (x2) then!
Could not have done it with out all the advice from you guys
xxx
DT

[di30]

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

RESULT!
This is one i had with Marks and Spencer which was settled in 2005
had to wait almost 10 weeks but had an offer in the post today which I am more than happy with, Just Barclay's and Bank of Scotland (x2) then!
Could not have done it with out all the advice from you guys
xxx
DT

Well done DT!
That is very pleasing news, great work!

[EXC]

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

In the wake of the PPI scandal things are really hotting up on the regulatory front.

HM Treasury has today issued a White Paper that includes a provision to amalgamate and speed up compensation claims for mis-selling - as reported in the FT:


Mis-selling cases to get fast track treatment
Cases of widespread mis-selling of financial products are to be handled as a group to limit harm to consumers and speed compensation claims under draft regulation reforms unveiled by the government.
Traditionally complaints about financial services are handled case by case, but this is to change following recent scandals involving payment protection insurance and poor investment advice to vulnerable customers.

FT.com / UK / Politics policy - Mis-selling cases to get fast track treatment


In addition the FSA have published the provisional findings to their consultation on Product Intervention which would give the soon-to-be established Financial Conduct Authority the power to unilaterally ban products. Up till now in order to get a product banned the OFT have to hold an investigation and then make a reference to the Competition Commission who would duplicate a further lengthy inquiry. In the case of single premium and regular premium PPI sold at the point-of-sale, the banning process took a ridiculous 5 years.

Also the European Commission ''is considering the issue of EU-wide product bans''.


Looking at one of the most high-profile cases in recent times, the current regulatory system,
involving work by the Office of Fair Trading, the Competition Commission and the FSA,
was eventually able to deal with the problems inherent in sales of Payment Protection
Insurance (PPI). However, this took several years to achieve appropriate redress for
consumers, was subjected to a judicial review and will cost the industry billions of pounds
in compensation. We believe that developing the current system to strengthen our ability
to supervise and enforce earlier in the value chain would have substantial benefits to
consumers and to firms by helping prevent the recurrence of this type of scenario. As the
FCA is to have a lower risk tolerance than the FSA and will aim to stop detriment from
occurring in the first place, this seems necessary.

Further to the discussion in chapter 2, we believe that high standards in product
governance are essential to achieve good customer outcomes. As part of this, we
will make sure that the FSA – and, in due course, the FCA – has the right regulatory
framework in which to operate. While the current framework does cover product governance,
new rules will be necessary in order to deliver the best results. The Payment Protection Insurance
(PPI) case shows some of the limits of the current approach, where it took some
years to reach the right outcomes, and problems which could have been eliminated
at an earlier stage developed to cause detriment to a great many consumers.

As the FCA is to have a lower risk tolerance than the FSA, we need to find a way to
guard against the repetition of such a situation.To address this we will develop additional
rules in support of the current framework.

We consider that, by intervening earlier in the value chain, the regulator will be able to prevent
consumer detriment before it crystallises, or limit it, rather than seeking ex post redress (as has
been the case with Payment Protection Insurance (PPI)).

We note that the Treasury’s recent consultation proposes that the FCA begiven the power to
ban products. In addition, the European Commission isconsidering the issue of EU-wide product
bans.

http://www.fsa.gov.uk/pubs/discussion/fs11_03.pdf

[cappo]

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

RESULT!
This is one i had with Marks and Spencer which was settled in 2005
had to wait almost 10 weeks but had an offer in the post today which I am more than happy with, Just Barclay's and Bank of Scotland (x2) then!
Could not have done it with out all the advice from you guys
xxx
DT

Nice one DT:beagle::tongue2::doggieyes:
------------------------------- merged -------------------------------

Nellie, so sorry to have missed this one earlier, that is fab news! Well done!

This is giving me hope now on another 2 we had with Lloyds 1996 and 1997, the only issue is - is again lack of paperwork, although as you know my recent wins via Lloyds on my thread I have just been successful on them 2 dated from late 1999 to 2001, and with lack of paperwork as well.

However, I remember the 1996-97 loans very well, with them being our first ever ones, and still remember the repayment of £111.18 a month lol.

Do you think there's hope for me on these hun? cheers x
------------------------------- merged -------------------------------



WOW, Well done to you! fab news this, made me smile big time anyway lol x

Don't see why not Di.

[nelliewops]

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

Nellie, so sorry to have missed this one earlier, that is fab news! Well done!

This is giving me hope now on another 2 we had with Lloyds 1996 and 1997, the only issue is - is again lack of paperwork, although as you know my recent wins via Lloyds on my thread I have just been successful on them 2 dated from late 1999 to 2001, and with lack of paperwork as well.

However, I remember the 1996-97 loans very well, with them being our first ever ones, and still remember the repayment of £111.18 a month lol.

Do you think there's hope for me on these hun? cheers x
------------------------------- merged -------------------------------



WOW, Well done to you! fab news this, made me smile big time anyway lol x

Thanks Di I was very pleased - and surprised, tbh - to get the FOS letter as this one is sooooooooooooo early I really thought LTSB would be able to wriggle their way out of it, but it would appear not

It's definitely worth having a try with yours - nothing ventured, nothing gained as they say...........and very good luck to you with them!!! I had nothing except the account number and a distinct recollection of being told I had to have PPI to be accepted for the loan - as I was very young and naive at the time I fell for it but having paid seven years worth of premiums I reckon my naivety will pay off once the refund cheque arrives, lol!!! Mind you, I'm still struggling to see how they'll work out how much to refund when they insisted that no paperwork was kept for something dating back so far. It makes you wonder just how long they really do keep documentation for..................

Nellie xxx

[dogtired]

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

Yes go for it!
Know that M and s are HSBC and it took nearly ten weeks, thought they were going to reject as for a time the one I claimed for went to a collection company but I was able to pay it off when i got my pension lump sum in 2005.
However n the letter as reply she goes on about that she will not "go into" my specific concerns etc and this was for a different account only one I had to them was a store card abd that was defuct over seven years ag0
Still wainting on the Barckyas and Bank of Scotland x 2 but may have to fully SAR the Halifax one as Cabot still tring to wriggle out of the fact that this is showing s no longer a valid debt


:beagle:

[cappo]

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

Thanks Di I was very pleased - and surprised, tbh - to get the FOS letter as this one is sooooooooooooo early I really thought LTSB would be able to wriggle their way out of it, but it would appear not

It's definitely worth having a try with yours - nothing ventured, nothing gained as they say...........and very good luck to you with them!!! I had nothing except the account number and a distinct recollection of being told I had to have PPI to be accepted for the loan - as I was very young and naive at the time I fell for it but having paid seven years worth of premiums I reckon my naivety will pay off once the refund cheque arrives, lol!!! Mind you, I'm still struggling to see how they'll work out how much to refund when they insisted that no paperwork was kept for something dating back so far. It makes you wonder just how long they really do keep documentation for..................

Nellie xxx

Probably for as long as reliable computer records are kept,back to the early ninties i'd say.

[EXC]

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

From today's Times:


The widespread mis-selling of payment protection insurance may have turned into a nightmare for the big high street banks, but it is manna from heaven for those given the task of sorting out the whole sorry mess.

Interim Partners, a recruitment firm that, as its name suggests, supplies interim managers, says that the surge in PPI claims has created unprecedented demand from financial institutions for temporary staff to deal with them.

The rewards for such interim staff are not unattractive, starting at £200 to £300 a day for claims processors, rising to about £800 for those who hire and manage teams of processors and as much as £1,500 a day for interim managers with experience of PPI products.

The firm’s Andrew McIntee says: “The number of consumers the FSA has said should be compensated is so high that it will take an army of contractors and senior managers to work through all the claims.”

[enaid]

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

They deserve a nightmare for what they have put a lot of decent people through over the years.
I hope it costs them trillions and then they may get the picture, we want good customer service, fair treatment, no hidden penalties and a regulator that has the power and the bottle to make sure we get em.
Enaid x

[debtisbad]

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

From today's Times:


The widespread mis-selling of payment protection insurance may have turned into a nightmare for the big high street banks, but it is manna from heaven for those given the task of sorting out the whole sorry mess.

Interim Partners, a recruitment firm that, as its name suggests, supplies interim managers, says that the surge in PPI claims has created unprecedented demand from financial institutions for temporary staff to deal with them.

The rewards for such interim staff are not unattractive, starting at £200 to £300 a day for claims processors, rising to about £800 for those who hire and manage teams of processors and as much as £1,500 a day for interim managers with experience of PPI products.

The firm’s Andrew McIntee says: “The number of consumers the FSA has said should be compensated is so high that it will take an army of contractors and senior managers to work through all the claims.”

Most people who post on here would be more than capable of managing teams of people. Let's go and get recruited!

[flossie]

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

Yes go for it!
Know that M and s are HSBC and it took nearly ten weeks, thought they were going to reject as for a time the one I claimed for went to a collection company but I was able to pay it off when i got my pension lump sum in 2005.


:beagle:

Well done with M&S.
When did you put your complaint in? I have had 2 complaints in with them, one a credit card and one a loan, and they have been on hold since March 2011. Don't get any joy when I call and was told it could be weeks or months and no time scale available.