Fast Turnaround Response For PPI Claim...Something Is Not Right!

[EXC]

Re: Fast Turnaround Response For PPI Claim...Something Is Not Right!

Personally, the biggest question that comes to mind is that KF made an initial ppi re-payment based on my initial query.
So how is it that the FOS have not fully recognised or even mentioned this, and have mainly based their reply on time limit(s) as opposed to KF's redress? To me, it doesn't make sense.

What are your thoughts?

Regards,
HS.

Unfortunately that you had a partial refund doesn't change the fact that the complaint is outside the FOS's jurisdiction I'm afraid.

[Bill-K]

Re: Fast Turnaround Response For PPI Claim...Something Is Not Right!

Although the rules governing the original sale of the PPI were not the current FSA/FCA rules, KF appear to have admitted that the PPI was mis-sold - under whatever rules they consider were in force at the time. So there is no argument with that, and mis-selling DID occur.

...the FOS. After looking through their guidelines on how businesses should operate, I also saw where KF fell down in their handling process of my ppi complaint.

This is where I must differ with EXC in that I believe that KF are NOW obliged by FSA/FCA rules regarding the way that they NOW deal with this complaint - provided that KF is actually now regulated by the FCA. So - I believe that you ARE entitled to a proper explanation of the calculation of your redress - and that it SHOULD be calculated in line with the CURRENT rules. KF do not appear to have done this, and for that reason I believe you CAN complain to the FOS on the grounds that your complaint is not actually about the mis-selling - which has effectively been admitted - but is about the way that KF are NOW dealing with your complaint to them.

PPI selling rules and PPI redress rules are different, of course. It is the Redress rules that I believe do currently apply here, as it is NOW that the redress is being offered. PPI selling rules didn't cover redress, as far as I know, anyway.

But this is just my own view, and I hope some further and perhaps better advice will appear soon.

[Helpseeker]

Re: Fast Turnaround Response For PPI Claim...Something Is Not Right!

Unfortunately that you had a partial refund doesn't change the fact that the complaint is outside the FOS's jurisdiction I'm afraid.

Thanks for your response EXC.
I still feel that something is missing regarding their reply.

Regards,
HS.

[Helpseeker]

Re: Fast Turnaround Response For PPI Claim...Something Is Not Right!

Although the rules governing the original sale of the PPI were not the current FSA/FCA rules, KF appear to have admitted that the PPI was mis-sold - under whatever rules they consider were in force at the time. So there is no argument with that, and mis-selling DID occur.This is where I must differ with EXC in that I believe that KF are NOW obliged by FSA/FCA rules regarding the way that they NOW deal with this complaint - provided that KF is actually now regulated by the FCA. So - I believe that you ARE entitled to a proper explanation of the calculation of your redress - and that it SHOULD be calculated in line with the CURRENT rules. KF do not appear to have done this, and for that reason I believe you CAN complain to the FOS on the grounds that your complaint is not actually about the mis-selling - which has effectively been admitted - but is about the way that KF are NOW dealing with your complaint to them.

PPI selling rules and PPI redress rules are different, of course. It is the Redress rules that I believe do currently apply here, as it is NOW that the redress is being offered. PPI selling rules didn't cover redress, as far as I know, anyway.

But this is just my own view, and I hope some further and perhaps better advice will appear soon.

Bill,

I agree with you.

I do welcome other member's thoughts too, as I would like to respond to the FOS a.s.a.p.
Thanks very much in advance.

Regards,
HS.

BTW - KF are regulated by the FCA.

[Bill-K]

Re: Fast Turnaround Response For PPI Claim...Something Is Not Right!

Uncomfortable though it may be, EXC's opinion may well be correct, as I rarely see him err. But I will always voice my own opinion, if asked - and I hope others might now do likewise.
I must apologise if my use of capitals seemed like shouting. My emphasis was actually on the idea of 'tense.' The past was the former regulation (for want of a better word) of the way that PPI was sold. The present is the current regulation of the way that PPI claims and subsequent redress is dealt with.
In the end - the way I see it is that you would do well to tread carefully if you are going via the courts. But if you are (wisely, IMHO) going via the FOS - then do not give up too easily.

Again - JMHO, though.

[Bill-K]

Re: Fast Turnaround Response For PPI Claim...Something Is Not Right!

KF are regulated by the FCA.

Nifty, HS !! Good stuff.