Will we all get our money back now

[winner12]

Hi all
Seems we may stand a chance of getting our money back at last with the anouncement that the Banks will have to write to their customers about mis sold PPI they should just settle all backlog of claims first though surely

[leclerc]

Re: Will we all get our money back now

Hi all
Seems we may stand a chance of getting our money back at last with the anouncement that the Banks will have to write to their customers about mis sold PPI they should just settle all backlog of claims first though surely

I think they probably will do in the meantime. I am sure that there is a process agreed through the FSA to deal with those claims.

[di30]

Re: Will we all get our money back now

Hi

Sorry I've not been here earlier, but can see our Leclerc have posted up.

Yes it does hopefully look that way now.

However, the FSA still insist that customers (if they believe they were mis sold) to still write and no wait for a letter.

[Angry Cat]

Re: Will we all get our money back now

Well, I am waiting for letter(s);
on principal!

[EXC]

Re: Will we all get our money back now

The consumer contact letters (CCLs) certainly won't apply to all customers of all lenders.

The FSA estimates that at most 12m people will get letters - a fraction of the total number of PPI policies sold. Of course this hasn't stopped CAG falsely and recklessly raising the hopes of their members by telling them that ''Banks MUST write to ALL customers that had PPI offering Refunds'' and that, somehow, s32 of the Limitations Act applies to complaints handling rules which is completely factually incorrect.

Banks MUST write to ALL customers that had PPI offering Refunds - FSA 6th-March

The FSA have issued a short consultation paper to decide on:

• What a PPI CCL should contain, and how it should be presented so it is clear, fair and not misleading.
• How our rules on complaint handling and the time limits on a consumer making a complaint are relevant to PPI CCLs.
• Some other relevant obligations such as record-keeping

http://www.fsa.gov.uk/static/pubs/guidance/gc12-04.pdf

[labman]

Re: Will we all get our money back now

Of course this hasn't stopped CAG falsely and recklessly raising the hopes of their members by telling them that ''Banks MUST write to ALL customers that had PPI offering Refunds'' and that, somehow, s32 of the Limitations Act applies to complaints handling rules which is completely factually incorrect.

Err.... dx100, there isn't a Section 32c of the Limitations Act:

32. Postponement of limitation period in case of fraud, concealment or mistake.Discretionary exclusion of time limit for actions for defamation or malicious falsehood

32A. Discretionary exclusion of time limit for actions for defamation or malicious falsehood.


32A breaks down further, but into 1a,b; 2a,b,c; 3a,b etc...

To which bit of the act is he actually referring?

[ricvan1]

Re: Will we all get our money back now

hi all ive just got a letter from black horse finance saying after veiwing my case they belive they sold it fairly to me i have 14 days to respond

any advice?

[di30]

Re: Will we all get our money back now

hi all ive just got a letter from black horse finance saying after veiwing my case they belive they sold it fairly to me i have 14 days to respond

any advice?

Hi there and welcome

Did you write to them to complain, or did they automatically write to you?

If you disagree with this, then write back and give them your reasons on why you do and ask them to reconsider.
Have they given you the opportunity to write back with further information?

[EXC]

Re: Will we all get our money back now

Err.... dx100, there isn't a Section 32c of the Limitations Act:

32. Postponement of limitation period in case of fraud, concealment or mistake.Discretionary exclusion of time limit for actions for defamation or malicious falsehood

32A. Discretionary exclusion of time limit for actions for defamation or malicious falsehood.


32A breaks down further, but into 1a,b; 2a,b,c; 3a,b etc...

To which bit of the act is he actually referring?

He means s32 (1) (c).

It's been tried and failed http://online.lightfoots.co.uk/downl...for%20some.pdf

[labman]

Re: Will we all get our money back now

Will read the legislation again later, as on phone at the minute.

[labman]

Re: Will we all get our money back now

He means s32 (1) (c).

It's been tried and failed http://online.lightfoots.co.uk/downl...for%20some.pdf

Excellent link thank you. That will hugely limit the number of claims which can be made successfully. I fear though, that some people who were sold it as a condition of the loan (often, but not always subprime lenders), may not be able to prove what was said verbally and thus not succeed in their claims because of this judgment.

[Angry Cat]

Re: Will we all get our money back now

Excellent link thank you. That will hugely limit the number of claims which can be made successfully. I fear though, that some people who were sold it as a condition of the loan (often, but not always subprime lenders), may not be able to prove what was said verbally and thus not succeed in their claims because of this judgment.

But surely that is an unreported case?

[ricvan1]

Re: Will we all get our money back now

Hi there and welcome

Did you write to them to complain, or did they automatically write to you?

If you disagree with this, then write back and give them your reasons on why you do and ask them to reconsider.
Have they given you the opportunity to write back with further information?

i wrote to them and yes i can write back to them they havent said it was final and also had trouble with capital one they refused saying that i accepted the agreement in a phone call after i had the credit card a month i think.

is this the normal first answer from these guys and waht would u suggest

[di30]

Re: Will we all get our money back now

i wrote to them and yes i can write back to them they havent said it was final and also had trouble with capital one they refused saying that i accepted the agreement in a phone call after i had the credit card a month i think.

is this the normal first answer from these guys and waht would u suggest

Hiya

I would write back then with any further information you can add to your complaint, tell them you do not agree because................. and want it reconsidered.

In regards of CAP one, ask them to provide you with the concrete evidence of the call, as this was the reason they rejected, and again any further information you can give will help.

Keep at them.

[EXC]

Re: Will we all get our money back now

But surely that is an unreported case?

It doesn't matter that it's unreported as it gives a clear indication as to how County Courts may respond to PPI claims brought under s32 of the Limitations Act and re-enforces the requirement to prove an allegation of the PPI being sold as conditional to the loan - as Labman rightly points out - when the lender can produce documentary evidence that suggests otherwise.

Attached is another summary of the case which articulates it better than the first.