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  • FIRST POST
    Former MSE Rose
    PPI Reclaiming Discussion Part 5
    • #1
    • 28th Feb 12, 4:40 PM
    PPI Reclaiming Discussion Part 5 28th Feb 12 at 4:40 PM



    Hi all, this thread is for discussing the
    PPI Reclaiming
    article.

    This is Part 5 of the discussion, as the last one was so long (read parts one, two, three and four). To discuss or ask a question about this article, click 'post reply'.

    To read about non FOS claims read this thread.
    Report and read success stories in this thread
    .

    Please remember:

    We're often quite laid back about discussion threads as this is a community after all.

    I'm afraid in the case of the PPI Reclaiming thread we're really going to have to ask you to keep the discussion on topic though, so that people can find the relevant information quickly and easily.

    If you do start making like-minded friends on here and would like to carry on chatting about what you did at the weekend/what you ate for dinner etc, that's fine, but the best way to do that is to go to our local pub the MoneySavers Arms where anything and everything is chatted about, start a thread there, then pop a link in here and suggest you all head over to there to chat.

    Thanks,

    MSE Rose
Page 481
    • zx81
    • By zx81 19th Jun 17, 4:12 PM
    • 11,986 Posts
    • 12,124 Thanks
    zx81
    There's no counter offers. It's not a Moroccan bazaar.

    The offer is based on a defined calculation. If you think the figures in the calculation are wrong, let them know.
    • Moneyineptitude
    • By Moneyineptitude 19th Jun 17, 6:53 PM
    • 18,764 Posts
    • 8,933 Thanks
    Moneyineptitude
    If you think the figures in the calculation are wrong, let them know.
    Originally posted by zx81
    Better advice would be for the OP to only refuse the offer if he has documentary evidence showing he paid more than they are refunding. No point going back to them if he only "thinks" the offer is wrong.

    I agree the amount cannot be somehow bartered....
    • Michael J Green
    • By Michael J Green 20th Jun 17, 3:04 PM
    • 1 Posts
    • 0 Thanks
    Michael J Green
    Nationwide BS tell me that they have no records dating back beyond the statutory six years, so dismiss my claim in relation to Anglia Building Society from 1978 out of hand. Do I give up?
    • zx81
    • By zx81 20th Jun 17, 3:05 PM
    • 11,986 Posts
    • 12,124 Thanks
    zx81
    Most definitely.
    • Moneyineptitude
    • By Moneyineptitude 20th Jun 17, 3:21 PM
    • 18,764 Posts
    • 8,933 Thanks
    Moneyineptitude
    Nationwide BS tell me that they have no records dating back beyond the statutory six years, so dismiss my claim in relation to Anglia Building Society from 1978 out of hand. Do I give up?
    Originally posted by Michael J Green
    What were you complaining about? PPI was not retailed in 1978!

    Did you really expect to make any headway on a complaint about an alleged sale 39 years ago? Without any records yourself, and with no PPI, I think it might have been wiser not to "complain" at all!
    • dunstonh
    • By dunstonh 20th Jun 17, 4:45 PM
    • 88,112 Posts
    • 53,344 Thanks
    dunstonh
    Nationwide BS tell me that they have no records dating back beyond the statutory six years, so dismiss my claim in relation to Anglia Building Society from 1978 out of hand. Do I give up?
    Originally posted by Michael J Green
    Seeing as this is 27 years prior to regulation of insurance and almost a decade before PPI was even sold, I think it is pretty much good reason to give up.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • Nora McCarthy
    • By Nora McCarthy 20th Jun 17, 5:36 PM
    • 1 Posts
    • 0 Thanks
    Nora McCarthy
    Nora
    My complaint goes back to a card i have had since 1997 and realised i was still paying PPI and have Received a letter stating "unfortunately unable to provide a final response at this time "
    The FCA has set a deadline for implementation of 29 August 2017 . Once implemented " I can then consider the remainder of your complaint and provide you with a response . I will respond as soon as i can . You will receive a final response before the end of November 2017 at the latest .
    Are they stalling / is the Law changing so there is less chance of any refunds ?
    • dunstonh
    • By dunstonh 20th Jun 17, 5:46 PM
    • 88,112 Posts
    • 53,344 Thanks
    dunstonh
    My complaint goes back to a card i have had since 1997 and realised i was still paying PPI and have Received a letter stating "unfortunately unable to provide a final response at this time "
    The FCA has set a deadline for implementation of 29 August 2017 . Once implemented " I can then consider the remainder of your complaint and provide you with a response . I will respond as soon as i can . You will receive a final response before the end of November 2017 at the latest .
    Are they stalling / is the Law changing so there is less chance of any refunds ?
    Originally posted by Nora McCarthy
    There is no law change. The complaints process is not handled directly under the legal system. It is a regulated process.

    The hold up is due to the Plevin ruling which has just come out of consultation by the FCA. Providers have to implement it by the deadline and can put cases on hold until then. Some providers have already implemented it. Some are sluggish. However, there is this deadline and you can do nothing until they are ready.

    The key thing is that Plevin only applies to rejected complaints. It does not apply to upheld complaints. So, your complaint has failed. However, they need to check the commission to see if it was in excess of 50% of the premium. if it is, you will get a refund of the amount in excess. If it is not in excess of 50% then you get nothing. Your 6 month deadline to refer to the FOS, when you do get your rejection formally, does not start until you get that letter.
    Last edited by dunstonh; 20-06-2017 at 5:48 PM.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from a Financial Adviser local to you.
    • joannapem17
    • By joannapem17 21st Jun 17, 11:25 AM
    • 1 Posts
    • 0 Thanks
    joannapem17
    Joannapem17
    Hi,
    I have signed a contract with Fairtrade (they are not!)
    Their fee plus VAT is 45% Can I refuse to pay as I didn't realise it would mean nearly half of my PPI - hindsight is a wonderful thing
    Regards
    Joanna
    • zx81
    • By zx81 21st Jun 17, 11:32 AM
    • 11,986 Posts
    • 12,124 Thanks
    zx81
    Not if you agreed it in the contract.

    45% has always meant nearly half, so they've not changed anything.
    • Moneyineptitude
    • By Moneyineptitude 21st Jun 17, 3:23 PM
    • 18,764 Posts
    • 8,933 Thanks
    Moneyineptitude
    Their fee plus VAT is 45% Can I refuse to pay as I didn't realise it would mean nearly half of my PPI - hindsight is a wonderful thing
    Originally posted by joannapem17
    You didn't need "hindsight" to see in advance the % charge you would pay if you signed a legally binding contract with this firm. The charges are not hidden.

    If you refuse to pay, you'll have debt collectors chasing you, a trashed credit history and ultimately a court appearance to look forward to.

    I agree it's a waste of money, but too late for remorse now.
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