MSE News: Banks put PPI claims on hold in defiance of regulator

PortalTim

ankerbankers wrote: »

CHF - To clarify, yes the retrospective FSA policy statement is one of the issues being contested but another big issue is they are also contesting guidance published by the FOS and that will be a can of worms as well!

Would have thought the FOS guidance was the easist bit to defend. My understanding is that you have to ask for a JR with in three months of the thing you wnat to review being put in place. Since the FOS guidance has been in place for over two years and has been the basis for settlement of '000's of complaints then surely the FOS should simply ask for this element of the JR to be struck out on the basis due to a time bar......

Cardinals

PortalTim wrote: »

ankerbankers wrote: »

CHF - To clarify, yes the retrospective FSA policy statement is one of the issues being contested but another big issue is they are also contesting guidance published by the FOS and that will be a can of worms as well!

Would have thought the FOS guidance was the easist bit to defend. My understanding is that you have to ask for a JR with in three months of the thing you wnat to review being put in place. Since the FOS guidance has been in place for over two years and has been the basis for settlement of '000's of complaints then surely the FOS should simply ask for this element of the JR to be struck out on the basis due to a time bar......

Unfortunately the wording of the JR application makes clear that they regard the guidance as a 'continuing decision' and as such can challenge it now. In addition they have a right to a JR of any individual FOS decision taken now which would have the same effect if the overall guidance were to be struck out.

Alpine_Star

Cardinals wrote: »

PortalTim wrote: »

Unfortunately the wording of the JR application makes clear that they regard the guidance as a 'continuing decision' and as such can challenge it now. In addition they have a right to a JR of any individual FOS decision taken now which would have the same effect if the overall guidance were to be struck out.

Indeed but it still may have the potential to be a contentious issue at the application hearing.

petecorfu

audley16 wrote: »

Peter

Well done! Out of interest do you have any professional qualifications in financial services?

yes an order of merit from sherwood!

its called the robin hood badge A CLASS!

no! i have learned alot in 4 years in the industry though! so i prob would have if i had the time to go for them!

petecorfu

Alpine_Star wrote: »

I don't work for anyone - least of all a bank.

An ex Judge? or Solicitor?

Mr_CMC

Good Evening,

As my forum name suggests, I am very much in the Claims Management business, I actually fully own a company that has processed in excess of 12,000 PPI claims over the past 2 years.

We contemplated the "unenforceable" market place, but following advice from our lawyers, ran a million miles away from it.

We have never charged a penny upfront, and even pay the £10 SAR fee ourselves.

All postage is paid for on our side and the client side.

We charge a mere 20% INCLUDING VAT.

It is part of our authorisation from the MOJ to tell each and every client, on our recorded phone lines, that they have the opportunity to do the work themselves and keep the whole refund.

You would be surprised how swiftly we are told to "yep yep i understand that, but i prefer you to do it, not got the time etc etc etc"

If you are reading this, you have the time, patience, and aptitude to do the work, but please don't think all people do, as they simply don't, and for a small percentage are more than happy to let a moral company do the work, chasing up, help complete FOS questionairres etc.

Don't hate us all, we are simply trying to provide as good a service, at as cheap a cost as we can.

Thanks, and I do have some pretty strong views on this JR action, but they will come in good time.

Mr CMC

Alpine_Star

Mr_CMC wrote: »

Good Evening,

I actually fully own a company that has processed in excess of 12,000 PPI claims over the past 2 years.

I am lost in admiration.

But are we meant to be exchanging CVs here? Or have I misunderstood the purpose of this thread?

Mr_CMC

Alpine_Star wrote: »

I am lost in admiration.

But are we meant to be exchanging CVs here? Or have I misunderstood the purpose of this thread?

A sharp tongue is no indication of a keen mind.

audley16

Mr_CMC wrote: »

A sharp tongue is no indication of a keen mind.

I actually agree with Alpine Star here. Not really sure what your post has added to this thread that is relevant.

Perhaps if you would give your actual opinion on the JR rather than telling us to wait for your "strong view" you may be taken more seriously.

petecorfu

Mr_CMC wrote: »

Good Evening,

As my forum name suggests, I am very much in the Claims Management business, I actually fully own a company that has processed in excess of 12,000 PPI claims over the past 2 years.

We contemplated the "unenforceable" market place, but following advice from our lawyers, ran a million miles away from it.

We have never charged a penny upfront, and even pay the £10 SAR fee ourselves.

All postage is paid for on our side and the client side.

We charge a mere 20% INCLUDING VAT.

It is part of our authorisation from the MOJ to tell each and every client, on our recorded phone lines, that they have the opportunity to do the work themselves and keep the whole refund.

You would be surprised how swiftly we are told to "yep yep i understand that, but i prefer you to do it, not got the time etc etc etc"

If you are reading this, you have the time, patience, and aptitude to do the work, but please don't think all people do, as they simply don't, and for a small percentage are more than happy to let a moral company do the work, chasing up, help complete FOS questionairres etc.

Don't hate us all, we are simply trying to provide as good a service, at as cheap a cost as we can.

Thanks, and I do have some pretty strong views on this JR action, but they will come in good time.

Mr CMC

Good to have you here fellow cmc!!

its only £1 for the ppi dsar by the way!! lol! or is that a nice little hook for your clients?