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......

"In relation to the reference to the sales process in store, there is no requirement upon us to record the sales process and so we have no way of knowing what took place on (date)"

This would be true as the store would be responsible for the sales process.

As for policies sold not sold in-store, who was the distributor?

The Policy Statement states that ''Distributors are responsible for maintaining a compliant sales process, and therefore should be responsible for redress''

http://www.fsa.gov.uk/pubs/policy/ps10_12.pdf

Selling PPI is a regulated activity and as such anyone selling it is under an obligation to be able to demonstrate that their sales processes are compliant. Ignorance is no defence.

[JDEH]

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

This would be true as the store would be responsible for the sales process.

As for policies sold not sold in-store, who was the distributor?

The Policy Statement states that ''Distributors are responsible for maintaining a compliant sales process, and therefore should be responsible for redress''

http://www.fsa.gov.uk/pubs/policy/ps10_12.pdf

Selling PPI is a regulated activity and as such anyone selling it is under an obligation to be able to demonstrate that their sales processes are compliant. Ignorance is no defence.

My understanding was that the store sold its own brand store cards, which were probably funded by a third party - perhaps Abbey - (is that what you mean by a "distributor"?). This third party was subsequently taken over by Santander. The store cards are typically Debenhams, Evans and Monsoon.
If my understanding is correct, who is respondible for the sale and does the FOS have any role to play when Santander and/or the FLA rejects the claim?
JDEH

[mosten]

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

is it confirmed that HBOS are paying out no quibble then or is it just that they will be sorting it all by 31st august like everyone else... ?

don't wanna get too excited just yet..

[MBD23]

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

MBD - I spoke with a team leader at lloyds about this (see my prev post), she said that the issue only effected the last 3 working days (if you beleive her) and that in due course they will be sent out. Under DISP rules they are supposed to correspond with 3rd parties where authority states so, I reminded them of this and requested copies immediately. She advised best to email customer.care.insurance@lloydstsb.co.uk and said they would provide. I sent mine over 3.30 y-day, no response yet but this seems the best option.

thanks , have you heard anything from the email address?

[EXC]

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

My understanding was that the store sold its own brand store cards, which were probably funded by a third party - perhaps Abbey - (is that what you mean by a "distributor"?). This third party was subsequently taken over by Santander. The store cards are typically Debenhams, Evans and Monsoon.
If my understanding is correct, who is respondible for the sale and does the FOS have any role to play when Santander and/or the FLA rejects the claim?
JDEH

The Debenhams store card site says that ''Debenhams acts as a credit intermediary and only offers credit products for Santander Cards UK Limited''. Credit and Store Card Information from Debenhams Personal Finance Debenhams Personal Finance

The FSA defines an insurance intermediary activity here Glossary Definition

The Policy Statement isn't particularly clear as to the liability of an intermediary in PPI mis-selling:

The role of insurers and lenders in mis-selling PPI
Concerning provider/distributor responsibilities, where a firm is an authorised general
insurance intermediary, it is not bound, unless by contractual terms, to offer a particular
PPI policy provided by a lender. Indeed, in some cases, doing so may not be treating
customers fairly.37 Distributors are responsible for maintaining a compliant sales process,
and therefore should be responsible for redress, where a failing arose from the manner in
which the product was sold. If brokers feel that undue pressure was placed upon them by
lenders or insurers, they may separately have recourse to the courts if they so choose.

The issues in relation to agency law (e.g. whether the broker is acting (as agent) on the
part of the insured or the insurer (as principal)) are complex and fact specific, depending
on both the individual contractual arrangements between the parties and the specific
facts surrounding a particular sale. Again, brokers may separately have recourse to the
courts if they so choose.

Accordingly, we remain of the view that our Handbook text concerning PPI complaints and
redress is appropriately positioned in its emphasis on the seller of the policy, and we are not
making any changes to it in this regard.

Brokers have the right under DISP to forward PPI sales complaints to other firms
DISP 1.7.1R permits a firm to forward a complaint to another firm where it has reasonable
grounds to be satisfied that that other firm may be solely or jointly responsible for the
matter alleged in the complaint.

Insofar as a complaint is about the failings set out in the open letter and our Handbook text
we take the view that the ‘matter’ complained of is about the sale of the PPI, as opposed
to a complaint about the underlying product. In our opinion, such a complaint is properly
directed at the firm who sold the PPI and therefore firms are unlikely to have grounds to
forward that complaint on under DISP 1.7.1R.

http://www.fsa.gov.uk/pubs/policy/ps10_12.pdf


Santander took over Debenhams store card business in Jan 2009 when they bought GE Capital Bank.

In 2007 the FSA fined GE Capital Bank £610k for failings in PPI sales - largely Debenhams store card PPI. FSA fines GE Capital Bank

So it may be that the rule-of-thumb that mis-sales of PPI are the liability of the seller and not the insurer doesn't apply to a sole intermediary of store cards PPI.

If I were you I'd make a quick call to the FOS helpline who should be able to give you a definitive answer 0800 023 4567.

[Paul210]

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

thanks , have you heard anything from the email address?

No response as yet, I chased up with them yesterday and they advised can take upto 3 working days to respond to emails depending on volumes received so may be monday.

I have however today received copies of response letters issued yesterday so it looks like the issue has been resolved going forward so thats something at least.

[Paul210]

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

UPDATE FROM LTSB

apparantly when lloyds say they will deal with judicial review cases in chronological order they dont quite know what that means, I've seen responses on complaints lodged in dec and jan this morning while I still have complaints from oct/nov outstanding.

Upon speaking to LTSB about this it appears they place a loose interpretation on chronological, aparrantly if your account number starts with 100xxxxxxxx then its being looked at now, in date order, if however it starts with 1000xxxxxxxx then theyve not even started on it yet, even if it is one of the early ones. For the sake of an extra 0 it looks like there could be yet more delays.

[flossie]

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

I am not having much luck with M&S Money, having had a store card/credit card mis-sell refused earlier this week, I received a letter today regarding the complaint about PPI on a personal loan taken out in 1999.

I wrote initially in January 2011 and had a letter in March placing it on hold due to JR. Having emailed and hassled a bit they said last week they would look into it and get me a response this week.

Their response today was that they have no paperwork so cannot confirm I even had PPI. I can't quite understand why this was placed on hold as the JR would not have applied if what they are saying is true.

They have asked for any further information I can give them.

All I have is an M&S loan update. It shows
Original loan amount £7802.46
Total amount payable £12,008.54
Monthly repayments were for £200.15 for 60 months, final payment made 24th August 2004.

Is there anyone out that that can work out from that if they think I had PPI? I am sure I did but cannot find any interest rates applicable to loans in 1999 to work out any figures.

Do they really dispose of all paperwork once the loan is paid off. I have had accounts with M&S Money for the past 26 years either in the form of credit card or loan. Won't be for much longer now!

[mosten]

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

Original loan amount £7802.46
Total amount payable £12,008.54
Monthly repayments were for £200.15 for 60 months, final payment made 24th August 2004.



Can you remember or could you find out, how much you actually got put into your bank to spend..

It looks to me like if you had say 6500 into your account to spend then a single premium of 1302.46 which would have been added on top would give the figure of original loan amount which you have..

They lend you the money to cover both things upfront, 6500 to you, 1302.46 would have been sent to the insurance company...

If you remember getting over 7500 to spend then it would make me believe you didnt have the PPI on loan.. Knowing the interest isn't really gonna tell you anything

I got the interest rate from working backwards to 18.48% roughly by the way...

[The Debt Star]

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

By way of an update on my PPI claims:

1. Cap One deny their credit card PPI was mis-sold, stating it was a non-advised sale on the 'phone and, as non-advised, "tough luck"
2. First Direct have sent yet another holding letter with no confirmed date for their Final Response - just that I'll get one eventually (frst complained about the PPI in December '10)
3. FOS have returned my First Direct Quezzy and Complaint Form, telling me to wait until i get my First Direct Final Response (despite the fact that the bank said I could go to the FOS if I wanted to, pre-JR)
4. Marbles have told me to complain to HSBC and HSBC have told me to complain to Marbles.
5. FOS have returned my Marbles PPI Quezzy and Complaint Form telling me I need to get a Final Response from HSBC, despite HSBC telling me to complain to Marbles.

So, all in all, frustrating, crap, pathetic, a total mockery of the JR.

[The_Big_Dog]

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

is it confirmed that HBOS are paying out no quibble then or is it just that they will be sorting it all by 31st august like everyone else... ?

don't wanna get too excited just yet..

I still believe this to be true, and what their legal department stated to me the other seems to be coming true.

We've now seen a few Halifax settlement letters (and Lloyds for that matter as well). They are very interesting reading and not quite what I was expecting from them.

If you grab hold of one of them - you'll see what I mean. They start off with a brief synopsis of the JR and then they go straight into 'here's your settlement figures'. There's no mention of whether they've investigated, whether they're upholding or whether they're making a gesture of goodwill - just here's your money.

Even though they won't confirm anything, I think Lloyds are doing the same thing.

Lloyds have, apparently, sent out over a 100,000 settlement letters in the past week. That's a lot of letters. My personal opinion is that it's highly unlikely that they can investigate that many complaints in such a short period of time.

Time will tell if what I was told is correct, however, I'm not even getting a sniff of a decline coming out of Lloyds at the moment.

TBD.

[leclerc]

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

TBD, they can't because they have until the end of August to investigate and give a response. They are in a mess and I've heard that even their own staff are worried as to whether they will complete the task within that timescale.

[Leucareth1971]

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

Hi Does anyone have the email for the CEO of Barclaycard,thanks

[di30]

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

Hi Does anyone have the email for the CEO of Barclaycard,thanks

david.chan@barclaycard.co.uk

Good luck

[Leucareth1971]

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

Thanks Di