PPI Reclaiming Discussion part 4

brokeally

Hi,

I emailed LTSB last week and myself and my husband got replies a few days later saying they will respond within 10 days. I phoned them today and was told i will receive £6000 + they were just waiting on one more calculation but my husbands claim, despite being sent the same day and having the same reply, is being frozen until a decision is made by the FSA.

Grrrrrr!

What decision are they in the process of making??

Ally x

di3004

brokeally wrote: »

Hi,

I emailed LTSB last week and myself and my husband got replies a few days later saying they will respond within 10 days. I phoned them today and was told i will receive £6000 + they were just waiting on one more calculation but my husbands claim, despite being sent the same day and having the same reply, is being frozen until a decision is made by the FSA.

Grrrrrr!

What decision are they in the process of making??

Ally x

Hi Ally

Well done on your success.

However, I don't think the banks have been given a waiver yet to stop investigating complaints, and this one was an ongoing complaint and not a new one.

Contact them again and tell them that.

Ring them for a quicker response and please let us know what they say.
Both the FOS and FSA have today confirmed that complaints are still being investigated as normal and no block has been put on them as yet.

Cheers.

This was in the media last Friday, to give you more of an idea.
http://www.fsa.gov.uk/pages/Library/Communication/PR/2010/153.shtml


FSA to contest the BBA's judicial review of new PPI complaints handling measures






FSA/PN/153/2010
8 October 2010
The Financial Services Authority (FSA) will contest the British Bankers’ Association’s (BBA) judicial review of new payment protection insurance (PPI) complaints handling measures.
In the interests of consumers, firms will be expected to continue handling complaints while this process is ongoing. If consumers are unhappy with how their complaint has been handled they may refer it to the Financial Ombudsman Service (Ombudsman).
In the last five years there have been more than a million complaints made to firms about PPI. In 2009/2010 alone, customers referred 49,196 complaints to the Ombudsman which then upheld nine out of ten in the complainant’s favour.
Since the FSA took on regulation of PPI in 2005 it has taken enforcement action against 24 firms for sales failings. The FSA has carried out three thematic reviews, issued warnings, halted the selling of single premium PPI with unsecured personal loans and visited over 200 firms in order to improve the market.
The FSA strongly believes that the package of new complaint handling measures outlined in policy statement 10/12 is a sensible and fair solution for consumers and the industry alike.
And that is why the FSA will vigorously contest the BBA’s judicial review of the new complaint handling procedures for the PPI market

brokeally

It seems that claims are being put on hold until this decision is made and a way forward is agreed and we will receive a letter to inform us of what happens next.

The person I spoke to didnt seem to know how this would affect our claim, if at all.

So I guess just wait and see.

Will keep you posted.

Ally x

di3004

brokeally wrote: »

It seems that claims are being put on hold until this decision is made and a way forward is agreed and we will receive a letter to inform us of what happens next.

The person I spoke to didnt seem to know how this would affect our claim, if at all.

So I guess just wait and see.

Will keep you posted.

Ally x

Ally, contact the FSA about this tomorrow, there have not been anything confirmed in writing yet, and to what I know they should still be investigating as they have no waiver up to now.

Good luck and please keep us informed, cheers.

Di
X

MattyA

Ohhh !!!!....I have only just started down this path......and the banks are putting the blocks on it.
Or at least trying to...they really are a set of ........

di3004

MattyA wrote: »

Ohhh !!!!....I have only just started down this path......and the banks are putting the blocks on it.
Or at least trying to...they really are a set of ........

Hiya Matt, Lloyds have at the moment, many others may follow, but still continue to make your reclaims, as advised by the FOS/FSA.;)

MattyA

di3004 wrote: »

Hiya Matt, Lloyds have at the moment, many others may follow, but still continue to make your reclaims, as advised by the FOS/FSA.;)

It is typical of my luck...I really need this - it was the only thing keeping me going.
Niddy was keeping em at bay & I (via this was gonna make em pay - or some of em at least)Without recompense for the 10's of thousands of wasted premiums & interest charged I am finished.

di3004

MattyA wrote: »

It is typical of my luck...I really need this - it was the only thing keeping me going.
Niddy was keeping em at bay & I (via this was gonna make em pay - or some of em at least)Without recompense for the 10's of thousands of wasted premiums & interest charged I am finished.

Keep going Matty. They still have to deal with them in due course whatever the outcome, the argument with the banks is about the new handling orders given by the FSA on banks taking on older previous loan ppi matters, or checking the status of ppi sold to customers, where is they were mis sold they would have to refund. (without the need of a complaint being sent).
So even if blocked for now, they will still have to deal with it in the near future anyway.

Take a look at today's news here below - not all banks have blocked just yet.....although there may be further news sometime tomorrow.

http://www.moneysavingexpert.com/news/reclaim/2010/10/lloyds-puts-ppi-claims-on-hold-in-defiance-of-regulator?utm_source=forum&utm_medium=sidebar&utm_campaign=box

I have had a few loan ppi's upheld this year and recently came to another 2, have only just sent them in today as well, (Lloyds), so even though it will take longer, at least its in out of the way for now.;)

Di

mumtothreegirls

MattyA wrote: »

I just got one of them too

I'll keep my fingers crossed for you too.

brokeally

I have just spoken to the bank and got the most unhelpful advisors on the planet!!!
Refused to discuss my claim then made a rather large 'faux pas' which I wont go into.
Anyway, i was trying to establish whether the figure i have been given classes as settlement as it was verbal
and have not received this in writing. Was told rather firmly YOUR CLAIM IS ON HOLD.
I have logged complaints with the FSA and FOS.