PPI Reclaiming Discussion part 4

jadest

EllBee wrote: »

Hi Jadest,

I see we're both still waiting for something to happen with our cases!!!

I've been waiting for the FOS to make a final decision on my complaint against Loans.co.uk since June/July last year. My case has now been with the FOS since January 2008. The adjudicator found in my favour but obviously Loans.co.uk disputed this so my case was passed to the Ombudsman for a final decision. Or so I thought!!

I have just come off the phone from someone at the FOS who told me that he hasn't come across many cases that have taken as long as mine (!!!!!:rolleyes:!!!!) and that it was waiting to be passed to an adjudicator. I pointed out that it had already been through the adjudicator, giving his name, and explained that he had found in my favour and recommended that I should be reimbursed! The man I spoke to today apologised and agreed that it was waiting for a final decision and hopefully it wouldn't be too much longer!!! I am so bloody angry!!!!!!! :mad::mad:

I am really struggling at the moment as I have lost a lot of the work I do on a self-employed basis (the FOS have been aware of my financial situation since Christmas so the financial hardship route didn't work for me!).

According to the man I spoke to they currently have around 24,000 cases to deal with! Maybe if the FOS added an extra hefty charge on top of the payout for misselling (if the company is found to have missold a policy but disputes it) perhaps there might not be so many disputes and the FOS would not have such a heavy workload!! In addition, the FOS could make some money out of it and employ more staff to deal with the claims. Maybe the threat of a hefty fine might make these companies more compliant and less likely to dispute a claim.

Needless to say - I am not happy!! Needed to get this off my chest and share it with you (as you're dealing with the same company) and anyone else who might be interested.

Now I'm going to make myself a cup of tea and sit down and try and CALM DOWN!!!!!

All the best.

Ellbee

I can't beleive that the FOS are giving loans.co.uk so much time surely they should be giving them dead lines.

Sorry to hear you are still wiating;

Good-luck hope you hear something soon

secue

I had a loan from alliance and leicester a few years back, and i was given ppi on it. i thought the loan was a bit expensive, but i needed the money so i didnt grumble.

Anyway, to cust a long story short, i have recently used the template letters from the ppi reclaim article, i sent the first letter and got a reply 4 weeks later from alliance and leicester just basically saying "sorry its taken 4 weeks so far", then another 4 weeks later i got the same letter again.

Since then, i haven't had anything, despite me sending the second template letter threatening to take it to the ombudsman.

They are ignoring me

So my question is....is this normal? it seems highly unproffessional let alone rude of a major bank to just ignore someone thats got a loan with them.

is it worth me actually carrying out my threat and taking them to the ombudsman? do i have anything to lose?

marshallka

secue wrote: »

I had a loan from alliance and leicester a few years back, and i was given ppi on it. i thought the loan was a bit expensive, but i needed the money so i didnt grumble.

Anyway, to cust a long story short, i have recently used the template letters from the ppi reclaim article, i sent the first letter and got a reply 4 weeks later from alliance and leicester just basically saying "sorry its taken 4 weeks so far", then another 4 weeks later i got the same letter again.

Since then, i haven't had anything, despite me sending the second template letter threatening to take it to the ombudsman.

They are ignoring me

So my question is....is this normal? it seems highly unproffessional let alone rude of a major bank to just ignore someone thats got a loan with them.

is it worth me actually carrying out my threat and taking them to the ombudsman? do i have anything to lose?

Did you send the letter recorded delivery so you have a proof? If its been 8 weeks now you are free to go to the Ombudsman about it.

gumbi

dialysis wrote: »

Hi Di It is so unfair bet it wouldnt take a year if we owed them money!!! We are okay just hoping for a last minute repreive before we lose our home. Our council house is now empty so we should be hearing soon as to when we can move in. We are up and down still cant beleive I have to move out though but hoping it might be start of new life. Hope you are ok too;)

Gumbi here guys.....I've got hacked off with the whole Picture / FSCS fiasco too and have been back in touch my MP again:

Mr Arbuthnot,
I fully understand that there may well be a delay of up to 6 months from the date that Picture Finance are declared in default. My complaint is not about this but rather the fact that Picture are still yet to be declared in default.

I was informed in Feb of this year that Picture Finance were currently ‘pending default’ awaiting guidance from the FSCS legal department. My issue is that this is still the status and that cases are still on hold awaiting that guidance after 4 months!

I would remind you that during the now 2 years I have been on this journey I have in fact had to pay over £15,000 in repayments that include a PPI policy that was miss-sold to me. I have also heard several cases, (thankfully not myself) where Picture Finance are perusing repossessions on properties where the amount outstanding would be paid off upon repayment of the miss-sold policy. I fully understand the need for due diligence and correct procedure but when those process start to mean that people lose their homes due to the delay then they need to expedited by all means possible.

I believe that Government should consider looking at cases where financial institutions have the power to repossess property and cause untold financial hardship when they are in fact the main contributory factor to the situation.

My situation:
· I owe approx £1200, (2 months payments) to Target Loans the administrators of Picture Finance.
· They have threatened to declare me in default and begin legal proceedings
· I can do nothing about this and it will affect my credit rating for years to come.

Picture Finance Situation:
· Sell a PPI policy worth over £11,000 that earns up to a staggering 900% profit
· Use the system to delay the inevitable repayment of this money
· Go out of business and walk away from your responsibilities to consumers and staff alike
· Get a cushy job as an ‘advisor’ or start up a phoenix company that rises from the ashes of the failed one.

This is simplistic and yes most likely coloured by my own experiences but still not far from the truth. I am not unreasonable and at no point have I requested any special treatment, however my patience has now worn very thin. Please tell the FSCS that every day they delay increases the chances that somebody will lose their home!!

Financial institutions like Picture are using the bodies designed to protect the consumer as blocking tactics and delaying mechanisms due to the fact that they know their sheer workload means that individual cases are likely to take over a year to be addressed. This type of behaviour is reprehensible and unfair to both consumers and the people at the FOS & FSCS that are left dealing with desperate consumers that the financial institutions have abdicated responsibility for.

I hope this gives you an insight into the patience stretching, gut twistingly frustrating daily battle that those like myself are forced into in the name of ‘procedure’!

I await your reply with interest.

Martin's got some clout so why don't we suggest the penalty clause idea be taken up by him.....There's no doubt that companies like Picture have used the system and overloaded the FOS to delay repayments as much as they can, so I think it's about time we fought to close this loop-hole!

Charge them an extra 25% on top of the repayment if the case has to go to the FOS and they lose. Perhaps then they'll address the issue rather than avoiding it!

jimsta

Trying to reclaim my Wife's PPI with A&L, been with the ombudsman now for 6 months and heard nothing, Wife is nagging me why it's taking so long, but don't want to say anything to ombudsman just in case they put it bottom of the pile.
Trying to be patience but's it driving me bonkers.

dialysis

gumbi wrote: »

Gumbi here guys.....I've got hacked off with the whole Picture / FSCS fiasco too and have been back in touch my MP again:

Mr Arbuthnot,
I fully understand that there may well be a delay of up to 6 months from the date that Picture Finance are declared in default. My complaint is not about this but rather the fact that Picture are still yet to be declared in default.

I was informed in Feb of this year that Picture Finance were currently ‘pending default’ awaiting guidance from the FSCS legal department. My issue is that this is still the status and that cases are still on hold awaiting that guidance after 4 months!

I would remind you that during the now 2 years I have been on this journey I have in fact had to pay over £15,000 in repayments that include a PPI policy that was miss-sold to me. I have also heard several cases, (thankfully not myself) where Picture Finance are perusing repossessions on properties where the amount outstanding would be paid off upon repayment of the miss-sold policy. I fully understand the need for due diligence and correct procedure but when those process start to mean that people lose their homes due to the delay then they need to expedited by all means possible.

I believe that Government should consider looking at cases where financial institutions have the power to repossess property and cause untold financial hardship when they are in fact the main contributory factor to the situation.

My situation:
· I owe approx £1200, (2 months payments) to Target Loans the administrators of Picture Finance.
· They have threatened to declare me in default and begin legal proceedings
· I can do nothing about this and it will affect my credit rating for years to come.

Picture Finance Situation:
· Sell a PPI policy worth over £11,000 that earns up to a staggering 900% profit
· Use the system to delay the inevitable repayment of this money
· Go out of business and walk away from your responsibilities to consumers and staff alike
· Get a cushy job as an ‘advisor’ or start up a phoenix company that rises from the ashes of the failed one.

This is simplistic and yes most likely coloured by my own experiences but still not far from the truth. I am not unreasonable and at no point have I requested any special treatment, however my patience has now worn very thin. Please tell the FSCS that every day they delay increases the chances that somebody will lose their home!!

Financial institutions like Picture are using the bodies designed to protect the consumer as blocking tactics and delaying mechanisms due to the fact that they know their sheer workload means that individual cases are likely to take over a year to be addressed. This type of behaviour is reprehensible and unfair to both consumers and the people at the FOS & FSCS that are left dealing with desperate consumers that the financial institutions have abdicated responsibility for.

I hope this gives you an insight into the patience stretching, gut twistingly frustrating daily battle that those like myself are forced into in the name of ‘procedure’!

I await your reply with interest.

Martin's got some clout so why don't we suggest the penalty clause idea be taken up by him.....There's no doubt that companies like Picture have used the system and overloaded the FOS to delay repayments as much as they can, so I think it's about time we fought to close this loop-hole!

Charge them an extra 25% on top of the repayment if the case has to go to the FOS and they lose. Perhaps then they'll address the issue rather than avoiding it!

Hi Gumbi Thanks for that its brill!!! As you know my repossession is pending and there does not seem to be anything I can do about it, I have contacted my MP, told Pictures soclicitor the situation,emailed watchdog and told the FSCS but am getting nowhere when the compo does come and if it does we will be in our council house. I will do anything I can to fight this, as I am sure all on here will, just let me know if you have any further ideas or advice. Once again thank you for your info and support Dialysis:T:A

dickydonkin

secue wrote: »

I had a loan from alliance and leicester a few years back, and i was given ppi on it. i thought the loan was a bit expensive, but i needed the money so i didnt grumble.

Anyway, to cust a long story short, i have recently used the template letters from the ppi reclaim article, i sent the first letter and got a reply 4 weeks later from alliance and leicester just basically saying "sorry its taken 4 weeks so far", then another 4 weeks later i got the same letter again.

Since then, i haven't had anything, despite me sending the second template letter threatening to take it to the ombudsman.

They are ignoring me

So my question is....is this normal? it seems highly unproffessional let alone rude of a major bank to just ignore someone thats got a loan with them.

is it worth me actually carrying out my threat and taking them to the ombudsman? do i have anything to lose?

Secue

Exactly the same happened with me (Re A&L PPI Reclaim).

I also had two letters from them explaining they had not reached a decision on my claim (well my daughters actually - I am acting on her behalf).

After the 8 weeks had lapsed, I sent another letter (recorded - essential) explaining that I would be prepared to wait another 7 days for a decision, otherwise I would be progressing the claim by requesting a SAR followed by a complaint to the FSO.

This communication (like yours) was ignored. I then rang A&L who obviously could not divulge information relating to my daughters account, however, I was able to inform the person on the phone that a SAR will be forthcoming and due to the procrastination and delaying tactics used by the bank, the complaint will be taken to the next stage (FSO).

That seemed to have had a laxative effect on the process as contact by telephone was made the following day from A&L and an offer - half of the premium paid was offered in writing the next day (which will not be accepted) .

I would suggest that persistence will pay off. Keep on their backs otherwise they will ignore or certainly delay. Telephone them (0800 1412176) this freephone number takes you direct to the team dealing with such matters.

Good luck!

DP

marshallka

jimsta wrote: »

Trying to reclaim my Wife's PPI with A&L, been with the ombudsman now for 6 months and heard nothing, Wife is nagging me why it's taking so long, but don't want to say anything to ombudsman just in case they put it bottom of the pile.
Trying to be patience but's it driving me bonkers.

I have just rang about mine and was told that even fast track is now taking longer than ever and there are so many fast track cases that they are all being dealt with first so mine is likely to be longer than those. I then asked "so are fast track cases taking 12 months then" and he said "well yes, they can do". He then went on to say that they only have 800 people working there and they are completely free etc and they cannot work any faster. Is there anywhere we can all complain to to try and get the FOS to take on more workers as they must have the money to do so as the more cases they receive the more money they make and then people would not get into more needless debt waiting for their cases to be put forward. FOS requests the files I think immediately the complaint is recorded and then its just a waiting game. I wonder when it is that FOS gets their case fee money?? Is it straight away but they do not deal with it for 12/18 months or is it after the case is looked into. I would love to find that one out.

di3004

marshallka wrote: »

I have just rang about mine and was told that even fast track is now taking longer than ever and there are so many fast track cases that they are all being dealt with first so mine is likely to be longer than those. I then asked "so are fast track cases taking 12 months then" and he said "well yes, they can do". He then went on to say that they only have 800 people working there and they are completely free etc and they cannot work any faster. Is there anywhere we can all complain to to try and get the FOS to take on more workers as they must have the money to do so as the more cases they receive the more money they make and then people would not get into more needless debt waiting for their cases to be put forward. FOS requests the files I think immediately the complaint is recorded and then its just a waiting game. I wonder when it is that FOS gets their case fee money?? Is it straight away but they do not deal with it for 12/18 months or is it after the case is looked into. I would love to find that one out.

Yes your right Marshallka, I would love to find that one out as well.;)

dialysis

di3004 wrote: »

Yes your right Marshallka, I would love to find that one out as well.;)

Me too but is it called fast tracking or being fobbed off?