MSE News: Banks bid to block PPI compensation

Alpine_Star

Common_Sense_2 wrote: »

I am a complaints manager for a company - 35% of all PPI complaints i get, don't actually have PPI

See above.

dunstonh

Why would I value the opinion of discredited PPI complaints handlers from a discredited industry?

You are letting your bias affect your judgement.

? If they get 90% of disputed PPI complaints decisions overturned by the FOS, they are hardly a credible source of unbiased information.

Again, you are being selective with the figures and using them out of context.

Common_Sense_2

Alpine_Star wrote: »

Why would I value the opinion of discredited PPI complaints handlers from a discredited industry? If they get 90% of disputed PPI complaints decisions overturned by the FOS, they are hardly a credible source of unbiased information.

Granted, many complaints do get upheld by the FOS in favour of the consumer, but to just say 90% is disparaging against some companies who did follow the rules and sell PPI correctly.

If you actually look at the data behind the headlines you will see instances in the FOS data ( http://www.ombudsman-complaints-data.org.uk/ ) that show that some companies had in fact had a much lower percentage upheld in the consumer's favour.

For example (and i do not work for any of these companies as mine is far too small to appear on the FOS radar):

Co-Op insurance - 47%
DAS - 19%
FORTIS - 28%
Nationwide - 45%
Pinnacle Insurane - 31%
Santander - 58%

Yes i know that there are a lot of companies with higher figures, but please do not tar all finance companies with teh same brush.

marshallka

The single premium complaints that get upheld mostly are the ones that do not cover the entire length of the loan and also if you cancel or settle the loan early you get very little back in way of a rebate.

TBH though when I have just looked at my co-op PPI (which was upheld because we had good reasons and it was "proved"!!!) IF we had required the PPI and could have used it, to cover my loan payments of £192.97 for the 5 months we had the loan, I actually paid a total amount of £545.06 in PPI (including that which was charged at settlement). This would mean a monthly payment of £109.01...is that justifiable??? Could I have had it cheaper maybe elsewhere?

marshallka

Alpine_Star wrote: »

Why would I value the opinion of discredited PPI complaints handlers from a discredited industry? If they get 90% of disputed PPI complaints decisions overturned by the FOS, they are hardly a credible source of unbiased information.

But going by the above figures from the BBC yesterday that would be 90% (or even 80% according to that aricle) of 30% that are sumitted to FOS of the 50% not upheld by the firms so what are all the other complaints submitted to the firms? Could they be classed as folks who were chancing it (not all but some) and dare not take it any further cause the reasons they have originally given have been found to be "not true" by the firms???

If the firms did not have to deal with the "try it ons" (and I genuinly believe there are lots of them!!), then the genuine complainants would not have to wait so long and be tarred with the same brush.

Alpine_Star

dunstonh wrote: »

You are letting your bias affect your judgement.



Again, you are being selective with the figures and using them out of context.

Note to self: Stop reading selected figures published in the biased IFAonline which eroniously claim that nearly 90% of PPI complaints are upheld by the FOS.....

http://www.ifaonline.co.uk/ifaonline/news/1336542/upheld-ppi-complaints-nearing-90-fos

dunstonh

Alpine_Star wrote: »

Note to self: Stop reading selected figures published in the biased IFAonline which eroniously claim that nearly 90% of PPI complaints are upheld by the FOS.....

http://www.ifaonline.co.uk/ifaonline/news/1336542/upheld-ppi-complaints-nearing-90-fos

No reference to the breakdown of the PPI complaints. You need the figures in context. So, yes, its not a reliable source. Probably why not many IFAs use that site.

marshallka

The complaints data from the Ombudsman is here

http://www.ombudsman-complaints-data.org.uk/

Apologies if posted already

Alpine_Star

dunstonh wrote: »

No reference to the breakdown of the PPI complaints. You need the figures in context.

I put the figures into context. The context of the figures is precisely how I presented them - the industry percentage of upheld FOS complaints.

I would imagine that if there was any significant fraudulent claiming which undermines the complaints data that forms the FSA's position, the BBA will present any evidence to that effect during the Judicial Review.

dunstonh

I put the figures into context. The context of the figures is precisely how I presented them - the industry percentage of upheld FOS complaints.

Ok, so are you saying that 90% of MPPI cases are upheld or 90% of standalone PPI or credit card PPI or loan PPI or secured loan PPI or storecard.......