PPI Reclaiming Discussion part 4

amersall

olly_olsen wrote: »

Thanks for your reply.

The article you referred me to says that banks are obliged to continue to deal with cases whilst the court case goes on.

They are obliged, you can put your complaint to fos if hsbc put your case on hold due to the jr. Your claim may not have any relevence to the jr, they are just letting you know that some will be dealt with after the jr, the letter you got is asking for more time and they have not said (yet) that your case is on hold.Give them a while longer. Hope this helps.

di3004

olly_olsen wrote: »

I wrote to HSBC at the start of December last year seeking repayment for loan protection that I believe was mis-sold to me in 2004.

I received a reasonably prompt reply saying they would look at my claim and endeavour to respond within eight weeks.

I received another letter dated the 16th Feb (ten weeks after I wrote to them) saying they were still 'investigating' and weren't able to provide a full response. They did, however, commit to a full response by the 16th March.

On the 9th March I received another letter saying they were still 'investigating' and thanking me for my patience. The letter also gave a number I could call with any queries...

As it is now fifteen weeks since I wrote to HSBC I decided to call them and was told that they had a large backlog and that I should expect to hear something within the next two weeks. They also said that they were waiting for the result of a court case that should be through at the end of this month and that this would inform how they responded in many cases.

Can anyone tell me what court case they might be referring to and what I should do next? Should I now take it to the Ombudsman?

Thanks

Hi there

Mine is the same via Lloyds and have been with them since before xmas, there may be some updates by the end of the month, although it may not be the result of the actual JR, but they may be in the position then to provide you with a decision.
I was told the same on mine, so maybe this time next week or not long after you may hear something.
Fingers crossed.;)

nickybutch

Hi all,
This is just an update of what has been going on with my complaint with Egg which has been going on since October 2009. At this moment it is in the hands of the Ombudsman HIMSELF and won't be making a decision until 8 April 2011.
A recap of my complaint : £ 8901 cash loan in July 2006 with Egg placing £ 3797.97 PPI on top of this loan which I didn't ask for to be paid over 84 months @ 11.9% APR. I am in an IVA because I was paying 2.07 TIMES the amount of my loan. £ 219.66 per month (£18,451.44 for a loan of £ 8901.00). I had a PPI complaint UPHELD by Egg in October 2009 and they paid my IP £ 1516 PPI & £ 504.01 Interest. I complained because it wasn't the full amount of PPI and I wanted to know why I wasn't paid the full amount and also why wasn't it takken off my loan when I was told they would do so at the time.
Egg then later took £ 2281.97 from my loan (which was the REMAINING amount of PPI) but did NOT pay my IP, then ADDED £ 384.72 accrued interest to my loan and then SOLD IT ON FOR COLLECTION.

As it stands now, Egg SOLD my loan balance which includes a PPI refund which belongs to my IP PLUS accrued interest to ANOTHER COMPANY for collection. The PPI refund is the £ 2020.01 (£1516 & 504.01) from October 2009 which Egg did NOT take off my loan balance.
To me, this is MONEY LAUNDERING but using an account to get their money and this is a CRIMINAL OFFENCE. Do you agree ?
Under the IVA rules, you are NOT allowed to take ANY FURTHER ACTION during the period of the IVA. Egg added interest and sold my loan balance on for collection IS TAKING FURTHER ACTION. Do you agree ?

Egg had sold a loan balance with money that doesn't belong to them (in which Egg themselves paid to my IP) to another company for collection. If you think along the lines of someone who sold data of bank accounts etc to another person to use on fraudulant credit cards etc, this is money laundering and FRAUD.
I believe Egg has committed FRAUD BIG TIME. DO people agree with me on this ?
I do want any advice and answers in any way to help me out and get what I deserve from Egg.
I am demanding that Egg should pay me £ 8015.31 (which is my loan back in FULL) as soon as possible and close my account with them as they don't deserve my money at all.
If Egg paid my IP the PPI of £ 2281.97, this will balance the books and the PPI would be fully removed from my loan under the FSA rules, I will have my loan £ 8015.31 paid back to me.
If this is agreed , I would be happy but I think unlikely to happen.

Any thoughts or advice is greatly appreciated.
Nickybutch

Footiemad_2

nickybutch wrote: »

Hi all,
This is just an update of what has been going on with my complaint with Egg which has been going on since October 2009. At this moment it is in the hands of the Ombudsman HIMSELF and won't be making a decision until 8 April 2011.
A recap of my complaint : £ 8901 cash loan in July 2006 with Egg placing £ 3797.97 PPI on top of this loan which I didn't ask for to be paid over 84 months @ 11.9% APR. I am in an IVA because I was paying 2.07 TIMES the amount of my loan. £ 219.66 per month (£18,451.44 for a loan of £ 8901.00). I had a PPI complaint UPHELD by Egg in October 2009 and they paid my IP £ 1516 PPI & £ 504.01 Interest. I complained because it wasn't the full amount of PPI and I wanted to know why I wasn't paid the full amount and also why wasn't it takken off my loan when I was told they would do so at the time.
Egg then later took £ 2281.97 from my loan (which was the REMAINING amount of PPI) but did NOT pay my IP, then ADDED £ 384.72 accrued interest to my loan and then SOLD IT ON FOR COLLECTION.

As it stands now, Egg SOLD my loan balance which includes a PPI refund which belongs to my IP PLUS accrued interest to ANOTHER COMPANY for collection. The PPI refund is the £ 2020.01 (£1516 & 504.01) from October 2009 which Egg did NOT take off my loan balance.
To me, this is MONEY LAUNDERING but using an account to get their money and this is a CRIMINAL OFFENCE. Do you agree ?
Under the IVA rules, you are NOT allowed to take ANY FURTHER ACTION during the period of the IVA. Egg added interest and sold my loan balance on for collection IS TAKING FURTHER ACTION. Do you agree ?

Egg had sold a loan balance with money that doesn't belong to them (in which Egg themselves paid to my IP) to another company for collection. If you think along the lines of someone who sold data of bank accounts etc to another person to use on fraudulant credit cards etc, this is money laundering and FRAUD.
I believe Egg has committed FRAUD BIG TIME. DO people agree with me on this ?
I do want any advice and answers in any way to help me out and get what I deserve from Egg.
I am demanding that Egg should pay me £ 8015.31 (which is my loan back in FULL) as soon as possible and close my account with them as they don't deserve my money at all.
If Egg paid my IP the PPI of £ 2281.97, this will balance the books and the PPI would be fully removed from my loan under the FSA rules, I will have my loan £ 8015.31 paid back to me.
If this is agreed , I would be happy but I think unlikely to happen.

Any thoughts or advice is greatly appreciated.
Nickybutch

Hi Nicky

Didnt want to read and run. So sorry that you are being messed about by EGG. Hang in there a number of people have had success, even it it did take a while. :mad: I know it may not help you at the moment but dont give up. Have you give all that information to the Ombudsman?

Their behaviour doesn't sound good to me but I am no expert on such matters.

I am sure the right people will be along at some point to give advice andpoint you in the right direction.

Good luck with your battle and hope its a happy ending for you.;)

rmason00

di3004 wrote: »

Hi and welcome Bob

Wishing you luck on your reclaiming and in my opinion you do have a good case here, so hopefully it will all go straight forward for you.
They normally have 8 weeks to give a decision but you may receive one sooner, or they may write asking for more time, and they should also keep you informed of the progress of your complaint.

Hopefully others who have had dealings with these will post up with their own experience.

Please keep us posted and fingers crossed.;)

Hi di3004
I have just received a reply from my initial letter complaining about missold PPI and they write I quote "I have completed my investigation into your complaint, reviewed any records relating to the sale of your protection policy and have taken into account your complaint points and the comments noting your circumstances at the time of the sale.
I have decided to uphold your complaint and offer to settle your complaint in the following manner. I propose to:
Put you back to the same position you would have been in, had the single premium PPI not been sold to you.
Once the legal proceedings have been resolved with the FSA and the FOS we will consider whether they have affected the way that your refund should be calculated".
It then goes on to state that if I am unhappy with the way the proposed solution is arrived at I can complain to the FOS.

Does this mean that I have won or do I need to take this up with the FOS. The reply took a total of 9 weeks to arrive with one letter interim informing me they had received my complaint.

di3004

rmason00 wrote: »

Hi di3004
I have just received a reply from my initial letter complaining about missold PPI and they write I quote "I have completed my investigation into your complaint, reviewed any records relating to the sale of your protection policy and have taken into account your complaint points and the comments noting your circumstances at the time of the sale.
I have decided to uphold your complaint and offer to settle your complaint in the following manner. I propose to:
Put you back to the same position you would have been in, had the single premium PPI not been sold to you.
Once the legal proceedings have been resolved with the FSA and the FOS we will consider whether they have affected the way that your refund should be calculated".
It then goes on to state that if I am unhappy with the way the proposed solution is arrived at I can complain to the FOS.

Does this mean that I have won or do I need to take this up with the FOS. The reply took a total of 9 weeks to arrive with one letter interim informing me they had received my complaint.

Hi there

Wow, yes it means they have accepted liability and this has gone in your favour!:T, well done!:beer:
However, they are just waiting to hear of an outcome from the FSA in regards of the judicial review before they calculate and pay out, so basically they will refund you all you have paid in ppi plus interest etc.
We are hoping for an update on the JR matter, and believe we should hear something over the next week or 2, even if the case have not been resolved, they will I assume get on with the calculations.

Congratulations!:beer:

amersall

rmason00 wrote: »

Hi di3004
I have just received a reply from my initial letter complaining about missold PPI and they write I quote "I have completed my investigation into your complaint, reviewed any records relating to the sale of your protection policy and have taken into account your complaint points and the comments noting your circumstances at the time of the sale.
I have decided to uphold your complaint and offer to settle your complaint in the following manner. I propose to:
Put you back to the same position you would have been in, had the single premium PPI not been sold to you.
Once the legal proceedings have been resolved with the FSA and the FOS we will consider whether they have affected the way that your refund should be calculated".
It then goes on to state that if I am unhappy with the way the proposed solution is arrived at I can complain to the FOS.

Does this mean that I have won or do I need to take this up with the FOS. The reply took a total of 9 weeks to arrive with one letter interim informing me they had received my complaint.

:j:j Yes it is a "win" :beer: Well done :money:

rmason00

di3004 wrote: »

Hi there

Wow, yes it means they have accepted liability and this has gone in your favour!:T, well done!:beer:
However, they are just waiting to hear of an outcome from the FSA in regards of the judicial review before they calculate and pay out, so basically they will refund you all you have paid in ppi plus interest etc.
We are hoping for an update on the JR matter, and believe we should hear something over the next week or 2, even if the case have not been resolved, they will I assume get on with the calculations.

Congratulations!:beer:

hi thanks for all your help I suppose I have been one of the lucky ones it just goes to show that with the help of valued contributors to the web site you can take them on and win, you gave me the confidence to do so and I cant thank you enough, my wife is disabled and the news from the letter yesterday was one big boost to her it lifted her up on one of her many bad days.

Once again thank you very much for the assistance in helping me win my claim.

Bob

rmason00

amersall wrote: »

:j:j Yes it is a "win" :beer: Well done :money:

Hi amersall

As stated in my reply to di3004, I could not have done this without the help and information from the members on this web site, so one big thank you to all and please carry on and claim everything back frokm the banks what they owe you and good luck.

Bob

amersall

rmason00 wrote: »

Hi amersall

As stated in my reply to di3004, I could not have done this without the help and information from the members on this web site, so one big thank you to all and please carry on and claim everything back frokm the banks what they owe you and good luck.

Bob

Hi bob, just goes to show what can be done by the "man in the street"
And claims firms have the audacity to take upward of 25% for the "work they do" on a claim:rotfl::rotfl::rotfl: