PPI Reclaiming Discussion part 4

di3004

rezarf wrote: »

...

Got a reply today.

They will be looking into my concerns and will replay by 1st June.

They have asked me to fill in the FOS questionnaire and return it within 10 days.

Is this necessary?

Rezarf

Hi Rezarf

Maybe its procedure to them perhaps, I know its annoying especially when you have already sent the complaint, you could email them and ask them if its essential, as you've already been informed they will be looking into the matter and told you was to expect a reply by the 1 June, good luck.

badlydrawngirl

I received a letter today from MBNA confirming I am due a refund (see successes thread).
My question relates to the final paragraph. What does this mean?
"I must also inform you that legal proceedings are taking place between the British Bankers Association, and the Financial Services Authority and Financial Ombudsman Service. Following the conclusion of these proceedings it may be necessary for us to pay you additional redress and we will contact you under seperate cover, at the appropriate time, should this be the case following the conclusion of the legal proceedings."

rezarf

di3004 wrote: »

Hi Rezarf

Maybe its procedure to them perhaps, I know its annoying especially when you have already sent the complaint, you could email them and ask them if its essential, as you've already been informed they will be looking into the matter and told you was to expect a reply by the 1 June, good luck.

...

Just off the phone to the FOS and they informed me that the questionnaire is to be filled in for all claims.

Will get if filled in tonight and sent tomorrow.

Rezarf

di3004

rezarf wrote: »

...

Just off the phone to the FOS and they informed me that the questionnaire is to be filled in for all claims.

Will get if filled in tonight and sent tomorrow.

Rezarf

Hi
Is it the FOS who are dealing with your complaint anyway?

The FOS procedures are that of completing the questionnaire, but even banks now as well have gone over to them because it saves time later on in case of wanting to complain to the FOS.

Good luck on this.;)

di3004

badlydrawngirl wrote: »

I received a letter today from MBNA confirming I am due a refund (see successes thread).
My question relates to the final paragraph. What does this mean?
"I must also inform you that legal proceedings are taking place between the British Bankers Association, and the Financial Services Authority and Financial Ombudsman Service. Following the conclusion of these proceedings it may be necessary for us to pay you additional redress and we will contact you under seperate cover, at the appropriate time, should this be the case following the conclusion of the legal proceedings."

Hiya

Well done on your success.:beer:
As you may be aware there have been a court case via Judicial Review with British Bankers Association v's FSA & FOS, the BBA (banks) lost the case on 20 April, but its possible the BBA will be appealing the decision, however Santander are not involved and Lloyds TSB pulled out yesterday, and other banks may be involved if they do not pull out.

The BBA have until 10 May to decide an appeal, if they don't then all banks will have to redress genuine complaints, so in your case it seems they are paying your refund, and anything remaining will be sent to you further on, depending if the appeal goes ahead, which if it does it can be some months before the case is heard, and from there.......so anything further owing will be sent to you later on.
The FSA have new redress rulings in place.

I understand a few on here are in the same situation.

Hope this helps and again well done!;)

amersall

rezarf wrote: »

...

Got a reply today.

They will be looking into my concerns and will replay by 1st June.

They have asked me to fill in the FOS questionnaire and return it within 10 days.

Is this necessary?

Rezarf

Hi there, yes fill this in, and fingers crossed for you x.
Send recorded so they dont "lose" it :D

steveh31

Have I done the right thing:

I was missold PPI in 2003 as I was and am a civil servant a PPI company have told me I am owed £399 plus interest which is approximately £560. The debt to RBS is still £521 and is being collected through debt collection agency I have wrote to them last week saying I am cancelling direct debit until they contact RBS and investigate the matter and have asked them to cancel rest of debt as the amount owed is almost same as ppi.

Have I done the right thing stopping paying? I thought it was easier to stop paying rather than paying it off, they stall to make sure it's paid then refuse to refund me.

Thanks in advance

robbedofmymoney

steveh31 wrote: »

Have I done the right thing:

I was missold PPI in 2003 as I was and am a civil servant a PPI company have told me I am owed £399 plus interest which is approximately £560. The debt to RBS is still £521 and is being collected through debt collection agency I have wrote to them last week saying I am cancelling direct debit until they contact RBS and investigate the matter and have asked them to cancel rest of debt as the amount owed is almost same as ppi.

Have I done the right thing stopping paying? I thought it was easier to stop paying rather than paying it off, they stall to make sure it's paid then refuse to refund me.

Thanks in advance

i would still continue to pay the deby if it were me, although ultimately its your choice.

if you use a claims company to get you the refund please consider the fact that the refund will go against the debt and the claims company would then invoice you directly for upto 25% of the award plus VAT.

i would advise you go through the claims process yourself, if your not already doing that.

steveh31

I declined the claims company as they charge £250 plus VAT and even they said I should try to get it back myself as I would end up with virtually nothing.

di3004

steveh31 wrote: »

Have I done the right thing:

I was missold PPI in 2003 as I was and am a civil servant a PPI company have told me I am owed £399 plus interest which is approximately £560. The debt to RBS is still £521 and is being collected through debt collection agency I have wrote to them last week saying I am cancelling direct debit until they contact RBS and investigate the matter and have asked them to cancel rest of debt as the amount owed is almost same as ppi.

Have I done the right thing stopping paying? I thought it was easier to stop paying rather than paying it off, they stall to make sure it's paid then refuse to refund me.

Thanks in advance

Hi there

I agree with Robbedofmymoney, personally I would try to keep up paying with the management company, if your still struggling write to let them know and maybe a lower arrangement can be made for the time being.
You could write let them know that the account is currently in dispute because you are dealing with a matter.

And in regards of reclaiming, this is rather straight forward, and claims companies only do what we do here, and here its totally free.

Its just a matter of completing the reclaim questionnaire, send to the head office or complaints dept of whoever sold you the loan account, keep copies as well in case you need to refer back to this again.
Allow 8 weeks for a decision to be sent to you.
Reclaim questionnaire - step 3 here......
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step3

Hope this helps - good luck.