PPI Reclaiming Discussion part 4

dialysis

marshallka wrote: »

Thanks dialysis. Its far worse for you and i have now calmed down and just have to wait my turn I suppose. I just wish we could all do something for you matey.. its so blummin wrong what has happened with you.

I know there are others too in the same boat with Picture and have any of you thought about asking for martin himself's help. I wonder if he could do anything although I bet its all red tape and they would say "we are doing all we can".

Thanks Marshallka I have thought about contacting Martin but as you say it is all red tape and I agree I dont think it will make a blind bit of difference. I have had another letter from my MP who has wrote to the FSCS stating how urgent our case is re repossession, and requesting closure on our case. I dont think it will change anything other than the usual answer 'we have to wait until Picture are put into default' I am sick of hearing that now.:mad: The problem is that it still might take six months then. No hope at all

pinknico

Still cant see why the FSCS cant use the FOS way of seeing if we were mis sold instead of spending a year making up there own qualifying procedure.
I think most peoples frustration also comes from lack of communication, if it wasnt for gumbi, Iwouldnt have a clue what was happening.

dialysis

pinknico wrote: »

Still cant see why the FSCS cant use the FOS way of seeing if we were mis sold instead of spending a year making up there own qualifying procedure.
I think most peoples frustration also comes from lack of communication, if it wasnt for gumbi, Iwouldnt have a clue what was happening.

I agree Pinknico so does my MP but from reading on here I dont think even his input will make any difference to their 'rules'

marshallka

stereo_mike wrote: »

I see people are giving the FOS a bad time on here again. The one thing I would say is if you're not happy with how long the FOS are taking, then take it to court. However, you need to remeber that the FOS is free for consumers!!!!! You also have a higher chance of winning your case with the FOS so be patient!!!! I appreciate that some of you are in Hardship but this is taken into account not only when the FOS are looking at cases but also redress payments.

Cases that have taken up to 12 months is nothing, the longest one I have been involved with went on for 3 years!! Also don't rely on FOS upholds and redress to get you out of trouble with your debts, your complaint might not get upheld, then what are you going to do??

Enough ranting from me, now the good news.

FOS are upholding cases where successful claims have been made, therefore the comments made by Martin on the website are incorrect, if you have made a successful claim you can still claim for mis-selling.

Also the FOS are pretty much upholding cases for the same 3 reasons, so if you are submitting a claim to a lender, just use the points below.

1. Single premium offers no flexibility, and if you were likely to redeem your loan early, then a monthly policy should have been recommended. To be honest you don't even need to proove the loan was going to be re-paid early either.
2. The term of the policy not matching the term of the loan. Therefore when you come to obtain further cover you ae unlikely to be able to gain cover for medicial conditions that arose during the original policy, which you would have been covered for under a monthly policy.
3. You wanted to keep your monthly outlay to a minimum and therefore want the most cost-effective payment protection policy available (i.e. a monthly policy)

Hope this helps people with there claims.

Also Marshallka, FOS fees are paid once the case has completed.

Point taken stereo mike. It used to be about 6 months for the FOS and all I was saying is surely with there being the amounts of complaints that there are then surely that means more money for the FOS - hence more work for the unemployed maybe.

As regards using the courts - like with mine, its now time barred for this (that was in March of this year) and others alike. I know FOS do a good job really and I am grateful to them too but its like life in general, nothing changes unless we do anything about it. I have seen a fair few people on here getting impatient about their claims and would have thought that as with any business, more jobs often means the need for more people to be employed. It helps everyone then. Also there are the "wider implications" that may come about. Not as I know much about it but it seems like perhaps other complaints that were once not under jurisdiction can come into play.

Thanks for posting the bit above about the FOS and when you have made a claim too.

stereo_mike

marshallka wrote: »

Point taken stereo mike. It used to be about 6 months for the FOS and all I was saying is surely with there being the amounts of complaints that there are then surely that means more money for the FOS - hence more work for the unemployed maybe.

As regards using the courts - like with mine, its now time barred for this (that was in March of this year) and others alike. I know FOS do a good job really and I am grateful to them too but its like life in general, nothing changes unless we do anything about it. I have seen a fair few people on here getting impatient about their claims and would have thought that as with any business, more jobs often means the need for more people to be employed. It helps everyone then.

Thanks for posting the bit above about the FOS and when you have made a claim too.

The FOS's main income comes from the fees levied on authorised businesses every year. Although the FOS charge £500 per case this does not cover their costs per case. If the FOS increase their fees too much then the financial organisations will argue against it.

If your complaint is time barred by the courts then surely it is time barred by the FOS, as they use exactly the same rules??

At the moment the FOS cannot employ more people due to cost, in addition new people at the FOS are a nightmare at dealing with cases as they don't fully understand the process therefore taking even longer to look at cases, and ultimately more cases end up being contested.

marshallka

stereo_mike wrote: »

The FOS's main income comes from the fees levied on authorised businesses every year. Although the FOS charge £500 per case this does not cover their costs per case. If the FOS increase their fees too much then the financial organisations will argue against it.

If your complaint is time barred by the courts then surely it is time barred by the FOS, as they use exactly the same rules??

At the moment the FOS cannot employ more people due to cost, in addition new people at the FOS are a nightmare at dealing with cases as they don't fully understand the process therefore taking even longer to look at cases, and ultimately more cases end up being contested.

So it looks like nothing is changing then. Also I agree about the new people at FOS as there have been a few on here that have been given misleading info by them. We will all just have to wait then.

brucie34

got letter from lloyds tsb 8 1/2 weeks after first template letter saying need more time to look into cliam what should l do now

di3004

brucie34 wrote: »

got letter from lloyds tsb 8 1/2 weeks after first template letter saying need more time to look into cliam what should l do now

Hi there

Did their letter also state you can still continue to go to the Financial ombudsman service (FOS).

I would go to the FOS and if LLoyds get in touch in the meantime, and its a favourable response, you can then let the FOS know.;)
http://www.financial-ombudsman.org.uk/consumer/complaints.htm

cheesy*wotsit

Can someone please put my mind at rest. I have a 'live' loan with Northern Rock that I am currently paying, with PPI attached as part of the monthly payment. My ex-employer (solicitor) is dealing with it for me, but I left on not so fantastic terms with his secretary who I have to speak with to deal with any of this.

I have just received a letter stating that my court date is in August & not to worry as if NR win or part win I have insurance that will cover it. (sounds to me like he's not convinced we will 'win' - more worry). The only thing I have never been told although I have asked & asked (in writing & phone), & because it was my ex-boss he skirted round the answer, was who pays for the insurance if I lose? I was told 'dont worry, you're no win no fee', but surely the payment has to come from somewhere?

di3004

cheesy*wotsit wrote: »

Can someone please put my mind at rest. I have a 'live' loan with Northern Rock that I am currently paying, with PPI attached as part of the monthly payment. My ex-employer (solicitor) is dealing with it for me, but I left on not so fantastic terms with his secretary who I have to speak with to deal with any of this.

I have just received a letter stating that my court date is in August & not to worry as if NR win or part win I have insurance that will cover it. (sounds to me like he's not convinced we will 'win' - more worry). The only thing I have never been told although I have asked & asked (in writing & phone), & because it was my ex-boss he skirted round the answer, was who pays for the insurance if I lose? I was told 'dont worry, you're no win no fee', but surely the payment has to come from somewhere?

Hi there

Hopefully someone will be along soon to help in this matter.

I take it you signed to have this dealt with by the solicitor, your ex employer?

Not too certain on this actual matter but someone should post soon, good luck with this.;)

If you don't mind me asking though, what are your reasons for being mis sold?