PPI Reclaiming Discussion part 4

di3004

Incipience wrote: »

Guys.. Just to clarify this situation. The broker wont pay out, the lender will have to pay out even if the broker admits liability. The Broker would have to tell FP that there were some issues with the sale, FP would claw back all the commission from the Broker and then pay you.

However, would you think the lender would say no to the broker, your problem you pay. Of course not because the Lender Knows that he is also liable.

The FOS, look at the basics of any case, and if the Lender says it the Broker then the FOS will come back to you and say the same. Because that is what they have all been trained to say.

However, if you go to the FOS and argue that on a balance of probability you would have had no idea as to the responsibility of the sale. All your paperwork is that of the Lenders, the Policy Documentation is that of the Lenders, the Lender goes as far to say that they are the intermediary in the sale of insurance.

How could a meer consumer, construe it to be the responsibility of anyone but the lender?

Lenders love branding things, and this is to their own detriment in cases such as this, they advertise the fact that they are a member of all sorts of regulatory bodies and memberships, and that they follow codes of conducts.

This is why you buy from them, because you feel safe, now if the lender continues to claim that its not them, it could be argued that its policy documentation and assertions to the consumers protection is a negligent misrepresentation. Which would allow you to pursue under either common law or under the Misrepresentations Act 1967, choice is yours.

Dont think for one second because the lender tells you to take legal action or go to the FOS, they know that less than 1% of the claimants will do either. And the ones who take it to court, I have yet to see FIRSTPLUS make it all the way to court, cases are settled.

You have to understand the Lenders train their staff to push you to the limits of giving up, they use words and rhetoric that will make you feel that you were stupid enough to agree to its terms, and may even tell you that you can do nothing.

They can quote FOS, FSA or CCA, or whatever they want.. these are regulatory bodies, and/or acts of parliment. All the principles of these are founded on Common Law, and you have a right under no less than 10 different Acts and Laws that you can appeal to.

If your PPI is worth say £10k, imagine the cost to these Lenders to defend legal action, Eversheds (who firstplus use) are not cheap counsel, a case such as this can amount to £20k and upwards in litigation and barrister fees. Then if they even had the slightest chance of loosing can you imagine the precedence this will set for other customers to do the same.

Think about this logically, think about it from a risk management point of view. At the moment fob-ing you off is worth over 10k to them, so it makes sense to hire a bunch of nonses to break you down. However, they will fight you till it starts to cost more to defend than it does to pay you out. Then look for the settlement letter in the post.

If you are new to this complaining. File a Complaint with the FOS and see if it rattles them.. wait 2 months and if Nothing, Take them to Court. Avoid claims management companies who just basically do what you do, Complain, wait, Compain, Wait, Sent to FOS.

You want LEGAL action, so you need a solicitor or a claims company that does the litigation and then passes over to the Solicitor.

Remember a Solicitor can claim the fees off the other side, even on a settlement, so the lender will lose much more. than it could of if it had just paid you out.

But as I said its all based on numbers. I would therefore tell EVERYONE, never give up, no matter what they tell you fight it to the end. I am sure if someone gave you an extra 10k in your pocket at the end of the year, you would be likely to put in some serious over time.

Therefore, stop thinking like a victim and start treating this as a contract, with a nice big payout at the end. You will Get it, but you have to work for out.

Once you get into the same mindset as the lender and refuse to back down, and dont take it personal, which is hard I know, but just enjoy it.

Once lenders realise that people are not going to go away, it will pay them to shut them up.

Firstplus Kicked me Down over the past 4 years, and I was ready for giving up, until someone said to me, that loan is worth over £150k over the term, and if I told you that I would pay you at least 10% of that to fight it, what would you do.

Remember that its not just the PPI, its the interest on that for the length of the loan and that can amount to at least 5 holidays or more over the term.

So do yourself a favour and employ yourself to fight your own case, if it get a little tough then employ another to help on either a commission basis or something like that. (by that I do mean a lawyer)

Now have a good hard think about what I have said.. It is your Money.. It Is your right, and even though the odds may seem stacked against you.. The lender has more to loose than you do.

Give back as much as you get.. this time next year, we will see who is in the better position.

The law is with you, and Judges Hate these lenders, remember Judges were students once, with huge student loans, they know the pressures that lenders can put on people, everyone except the lenders hate credit (unless its there own)

Never get angry, always wait a day before replying to a letter.

Educate yourself, you never know you might just find you have a knack for complaining.

If you sit back and do nothing, then you can be sure that one day this will happen to your kids. Take action now and force these companies and the government to make changes..

You are not alone, people here and on other boards are here to help and let you vent off your anger.. but be careful to the information in which you release on these boards as you can be sure that the lenders read them every day.

If someone walked in to your house and stole £10k would you just sit back and let them take it, or would you use everything available to you to fight for it?

Then why sit back and let these companies abuse you.

Thank you Incipience, will have a good read through this.;)

sacbaby37

I am fine thanks, yes i recieved letter from cap 1 offering half of my PPIs on 2 accounts, and just recieved statements from citi and they dont seem to be ringing true. How about you? xxx

sacbaby37

sacbaby37 wrote: »

I am fine thanks, yes i recieved letter from cap 1 offering half of my PPIs on 2 accounts, and just recieved statements from citi and they dont seem to be ringing true. How about you? xxx

Sorry Di didnt make it clear this was meant for you, silly me

dreamer33

Incipience wrote: »

Guys.. Just to clarify this situation. The broker wont pay out, the lender will have to pay out even if the broker admits liability. The Broker would have to tell FP that there were some issues with the sale, FP would claw back all the commission from the Broker and then pay you.

However, would you think the lender would say no to the broker, your problem you pay. Of course not because the Lender Knows that he is also liable.

The FOS, look at the basics of any case, and if the Lender says it the Broker then the FOS will come back to you and say the same. Because that is what they have all been trained to say.

However, if you go to the FOS and argue that on a balance of probability you would have had no idea as to the responsibility of the sale. All your paperwork is that of the Lenders, the Policy Documentation is that of the Lenders, the Lender goes as far to say that they are the intermediary in the sale of insurance.

How could a meer consumer, construe it to be the responsibility of anyone but the lender?

Lenders love branding things, and this is to their own detriment in cases such as this, they advertise the fact that they are a member of all sorts of regulatory bodies and memberships, and that they follow codes of conducts.

This is why you buy from them, because you feel safe, now if the lender continues to claim that its not them, it could be argued that its policy documentation and assertions to the consumers protection is a negligent misrepresentation. Which would allow you to pursue under either common law or under the Misrepresentations Act 1967, choice is yours.

Dont think for one second because the lender tells you to take legal action or go to the FOS, they know that less than 1% of the claimants will do either. And the ones who take it to court, I have yet to see FIRSTPLUS make it all the way to court, cases are settled.

You have to understand the Lenders train their staff to push you to the limits of giving up, they use words and rhetoric that will make you feel that you were stupid enough to agree to its terms, and may even tell you that you can do nothing.

They can quote FOS, FSA or CCA, or whatever they want.. these are regulatory bodies, and/or acts of parliment. All the principles of these are founded on Common Law, and you have a right under no less than 10 different Acts and Laws that you can appeal to.

If your PPI is worth say £10k, imagine the cost to these Lenders to defend legal action, Eversheds (who firstplus use) are not cheap counsel, a case such as this can amount to £20k and upwards in litigation and barrister fees. Then if they even had the slightest chance of loosing can you imagine the precedence this will set for other customers to do the same.

Think about this logically, think about it from a risk management point of view. At the moment fob-ing you off is worth over 10k to them, so it makes sense to hire a bunch of nonses to break you down. However, they will fight you till it starts to cost more to defend than it does to pay you out. Then look for the settlement letter in the post.

If you are new to this complaining. File a Complaint with the FOS and see if it rattles them.. wait 2 months and if Nothing, Take them to Court. Avoid claims management companies who just basically do what you do, Complain, wait, Compain, Wait, Sent to FOS.

You want LEGAL action, so you need a solicitor or a claims company that does the litigation and then passes over to the Solicitor.

Remember a Solicitor can claim the fees off the other side, even on a settlement, so the lender will lose much more. than it could of if it had just paid you out.

But as I said its all based on numbers. I would therefore tell EVERYONE, never give up, no matter what they tell you fight it to the end. I am sure if someone gave you an extra 10k in your pocket at the end of the year, you would be likely to put in some serious over time.

Therefore, stop thinking like a victim and start treating this as a contract, with a nice big payout at the end. You will Get it, but you have to work for out.

Once you get into the same mindset as the lender and refuse to back down, and dont take it personal, which is hard I know, but just enjoy it.

Once lenders realise that people are not going to go away, it will pay them to shut them up.

Firstplus Kicked me Down over the past 4 years, and I was ready for giving up, until someone said to me, that loan is worth over £150k over the term, and if I told you that I would pay you at least 10% of that to fight it, what would you do.

Remember that its not just the PPI, its the interest on that for the length of the loan and that can amount to at least 5 holidays or more over the term.

So do yourself a favour and employ yourself to fight your own case, if it get a little tough then employ another to help on either a commission basis or something like that. (by that I do mean a lawyer)

Now have a good hard think about what I have said.. It is your Money.. It Is your right, and even though the odds may seem stacked against you.. The lender has more to loose than you do.

Give back as much as you get.. this time next year, we will see who is in the better position.

The law is with you, and Judges Hate these lenders, remember Judges were students once, with huge student loans, they know the pressures that lenders can put on people, everyone except the lenders hate credit (unless its there own)

Never get angry, always wait a day before replying to a letter.

Educate yourself, you never know you might just find you have a knack for complaining.

If you sit back and do nothing, then you can be sure that one day this will happen to your kids. Take action now and force these companies and the government to make changes..

You are not alone, people here and on other boards are here to help and let you vent off your anger.. but be careful to the information in which you release on these boards as you can be sure that the lenders read them every day.

If someone walked in to your house and stole £10k would you just sit back and let them take it, or would you use everything available to you to fight for it?

Then why sit back and let these companies abuse you.

Love your posts incipience, I totally agree with what you say now I've viewed it from your posts. I wish I have read all of this in 2005 when I got fobbed off from FP. They did forward my letter onto the broker. You are right all paperwork I have tells me to complain to the lender not the broker, even on paperwork from the broker it does not give any complaint addresses, therefore I should have picked up on this, but this was all new to me and have learnt along the way.

Thanks again

di3004

sacbaby37 wrote: »

I am fine thanks, yes i recieved letter from cap 1 offering half of my PPIs on 2 accounts, and just recieved statements from citi and they dont seem to be ringing true. How about you? xxx

Hi hun
Wow so its all looking hopeful then with Cap 1 ?Are you happy with that result?;)
Sorry if you posted on this already only quickly read through them, been painting, so just going through here quick lol.

So something is not right about the statements you received from Citi?

You requested a SAR for this one didn't you hun ?

sacbaby37

di3004 wrote: »

Hi hun
Wow so its all looking hopeful then with Cap 1 ?Are you happy with that result?;)
Sorry if you posted on this already only quickly read through them, been painting, so just going through here quick lol.

So something is not right about the statements you received from Citi?

You requested a SAR for this one didn't you hun ?

well with cap 1 i am wondering if they can offer me half, then why not go for the full amount lol, for citi yes i am gonna send off for a SAR should make things clearer i hope. Anyway its abit late for painting, are you one of these who has a new lease of life late at night?, I tend to do things late just because the kids are in bed lol. xxxx:D

di3004

sacbaby37 wrote: »

well with cap 1 i am wondering if they can offer me half, then why not go for the full amount lol, for citi yes i am gonna send off for a SAR should make things clearer i hope. Anyway its abit late for painting, are you one of these who has a new lease of life late at night?, I tend to do things late just because the kids are in bed lol. xxxx:D

arh just re-read on your other posting now lol....:D , yes you should go for the whole lot, definately, and I see these great lot on there have been saying the same here.;) So you go for it Sarah hun.
When you receive the SAR let us know, thanks hun.XXXX

(started the painting earlier....and once I started I could not stop)...:eek: lol, my youngest does not sleep, or more the case does not like sleep.....:eek: lol

dreamer33

sacbaby37 wrote: »

well with cap 1 i am wondering if they can offer me half, then why not go for the full amount lol, for citi yes i am gonna send off for a SAR should make things clearer i hope. Anyway its abit late for painting, are you one of these who has a new lease of life late at night?, I tend to do things late just because the kids are in bed lol. xxxx:D

I agree with you if they can offer half the money, then they can offer the full amount.

I always say if they offer anything they are admitting but not in so many words to some wrong doing.

Good luck

dreamer33

di3004 wrote: »

arh just re-read on your other posting now lol....:D , yes you should go for the whole lot, definately, and I see these great lot on there have been saying the same here.;) So you go for it Sarah hun.
When you receive the SAR let us know, thanks hun.XXXX

(started the painting earlier....and once I started I could not stop)...:eek: lol, my youngest does not sleep, or more the case does not like sleep.....:eek: lol

I don't know how you do it Di:A

di3004

dreamer33 wrote: »

I agree with you if they can offer half the money, then they can offer the full amount.

I always say if they offer anything they are admitting but not in so many words to some wrong doing.

Good luck

I must agree.;) X