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MSE News: Banks put PPI claims on hold in defiance of regulator
Comments
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Hello folks
My hubby received the remainder of his payout from Lloyds, it was in the bank this morning.
This is a payment that was owed, where they did not pay enough in March of this year, and dealt with by the FOS, so don't think this would have been involved with the JR as its in regards of a case dealt with earlier of this year, but hubby is happy anyway.:beer:0 -
How sickening is what?
This has now been posted on Legal Beagles as well, so unless we've got the same source, it seems to be common knowledge and in the public domain.
Earlier this week, we received notification that the FSA and the FOS had requested an extension to their Acknowledgement of Service to the Court. It came to me from a very good source, who has not let me down yet. The danger was that the FSA were not ready for trial and that they wouldn't be until later in the Spring - this would obviously mean that the hearing would be vacated in January.
From what we have ascertained this morning is that the Court has allowed them a short extension, but this would NOT affect the hearing date - which was the major concern.
Looks like we're getting ready to rumble at the end of January.
TBD.0 -
Ok - lets bury this once and for all.
This has now been posted on Legal Beagles as well, so unless we've got the same source, it seems to be common knowledge and in the public domain.
Earlier this week, we received notification that the FSA and the FOS had requested an extension to their Acknowledgement of Service to the Court. It came to me from a very good source, who has not let me down yet. The danger was that the FSA were not ready for trial and that they wouldn't be until later in the Spring - this would obviously mean that the hearing would be vacated in January.
From what we have ascertained this morning is that the Court has allowed them a short extension, but this would NOT affect the hearing date - which was the major concern.
Looks like we're getting ready to rumble at the end of January.
TBD.
Thank you for clearing this up.0 -
Thank you for clearing this up.
However, I think this is really good news for all of us. Firstly, it does give us the certainty that we will have a hearing at the end of January and we'll know who's come out on top. IF there was a vacation of hearing in January, then it could have had serious implications for all of us. The major one being, despite how bullish they're sounding at the moment, that the FOS make a request to the FSA for a waiver due to the sheer weight of complaints that they are currently receiving. Lets not forget here, theres going to be some SERIOUS VOLUMES going into the FOS. We've made a quick calculation and we're going to be sending them in excess of 50 next week alone, and we're only small - the big players will be hammering them in. Any delays to the JR will just mean that the FOS will get further deluged with complaints.
At least all parties now know that there are another 11 weeks to go before we have a clearer picture. I believe that the FOS would be able to handle the spike for a relatively short period of time.
Regards,
TBD.0 -
You're welcome - and I'll apologise again for posting the original post.
However, I think this is really good news for all of us. Firstly, it does give us the certainty that we will have a hearing at the end of January and we'll know who's come out on top. IF there was a vacation of hearing in January, then it could have had serious implications for all of us. The major one being, despite how bullish they're sounding at the moment, that the FOS make a request to the FSA for a waiver due to the sheer weight of complaints that they are currently receiving. Lets not forget here, theres going to be some SERIOUS VOLUMES going into the FOS. We've made a quick calculation and we're going to be sending them in excess of 50 next week alone, and we're only small - the big players will be hammering them in. Any delays to the JR will just mean that the FOS will get further deluged with complaints.
At least all parties now know that there are another 11 weeks to go before we have a clearer picture. I believe that the FOS would be able to handle the spike for a relatively short period of time.
Regards,
TBD.
I was once told by a worker at the fos! that there is a deal in place with most of the banks (who he listed for me) that once the Q/A and complaints are received by fos! they dont look at the circumstances of the complaint, rather they look for the bank name then if it appears on there "deal" list they enter on to a spread sheet for that particular financial house and send it to them to be "auto upheld" in bulk! i kid you not!
The reason he told me this was one of my clients complaint had been upheld, with a fos acceptance form sent out(with a full explanation of"when we find a policy has been missold blah blah blah")and forwarded on to the very happy client, who duly signed and sent back to them and given to barclays to pay! only for them to realise that there wasn't a ppi premium to refund! what i had seen on the paper work and what the client had lead me to believe was ppi on a mortgage acc. was not in actual fact ppi! it is now being investigated by another dept within fos! which one and what it actually was that was paid has still yet to explained to me!
what do you make of that then people!!????
also to add! when i spoke to a different person at fos! it caused all kinds s"%t with loads of feathers being ruffled! they ofcourse said denied there was a deal in place, but they could not deny the existence of the spread sheet and the paper work they had sent me!! FUNNY THAT A?0 -
Ok - lets bury this once and for all.
This has now been posted on Legal Beagles as well, so unless we've got the same source, it seems to be common knowledge and in the public domain.
Earlier this week, we received notification that the FSA and the FOS had requested an extension to their Acknowledgement of Service to the Court. It came to me from a very good source, who has not let me down yet. The danger was that the FSA were not ready for trial and that they wouldn't be until later in the Spring - this would obviously mean that the hearing would be vacated in January.
From what we have ascertained this morning is that the Court has allowed them a short extension, but this would NOT affect the hearing date - which was the major concern.
Looks like we're getting ready to rumble at the end of January.
TBD.
For the avoidance of doubt the Acknowledgment of Service has been served as scheduled. The Summary Grounds of Resistance have been dispensed with although this is in accordance with sec 4.a of the application.
It is the simply the Detailed Grounds for Resistance for which the FSA has secured an extension on.0
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