GE Home Finance - MPPI Court ot Not?

ianhillwoodville

Thanks magpiecottage and others for interesting insights and I am sure sound advice.

Whilst I accept you are almost certainly right in your assessment magpiecottage I do think that having scoured the FSA Handbook - albeit as a layman - the rules on handling all complaints are pretty clear in that they must be properly investigated. So I cannot go to the FOS on the outcome of my current complaint but might be able to on the handling. Of course it all rather depends on the nature of their response.

Anyway for the cost of a stamp it's all quite cathartic, I might even start saying I don't believe it soon!

Just uncovered another little thing and again am probably wrong but. I read last night something in some regulations or similar that PPI was in fact a different loan although for convenience could be shown on the same agreement - I am googling like mad to find it again. Anyway the main loan was for more than £25,000 so was an 'unregulated' agreement (have I got that right) but the PPI wasn't so am looking to see whether the agreement was in fact flawed. SImilarly the LTV with PPI was in excess of 100% so am digging for some of the regulations and guidance on that just in case.

Forgive me all MSE'rs but if nothing else I am trying and many would say very!

marshallka

ianhillwoodville wrote: »

Thanks magpiecottage and others for interesting insights and I am sure sound advice.

Whilst I accept you are almost certainly right in your assessment magpiecottage I do think that having scoured the FSA Handbook - albeit as a layman - the rules on handling all complaints are pretty clear in that they must be properly investigated. So I cannot go to the FOS on the outcome of my current complaint but might be able to on the handling. Of course it all rather depends on the nature of their response.

Anyway for the cost of a stamp it's all quite cathartic, I might even start saying I don't believe it soon!

Just uncovered another little thing and again am probably wrong but. I read last night something in some regulations or similar that PPI was in fact a different loan although for convenience could be shown on the same agreement - I am googling like mad to find it again. Anyway the main loan was for more than £25,000 so was an 'unregulated' agreement (have I got that right) but the PPI wasn't so am looking to see whether the agreement was in fact flawed. SImilarly the LTV with PPI was in excess of 100% so am digging for some of the regulations and guidance on that just in case.

Forgive me all MSE'rs but if nothing else I am trying and many would say very!

And was rule 78 used in your settlement? If it was then they were asked to not use it on unregulated agreements?

ianhillwoodville

I do believe it was. The calculation is in the office but it was an extremely complicated list so will need to put my maths hat on to check definitively. When were they asked not to apply it do you know?

magpiecottage

roonaldo wrote: »

Most of the contractors were ex financial advisers, mortgage advisers and people who had worked in the industry for years, so would be CeMAP or FPC qualified. Most of the contractors like myself, would go round from firm to firm around the country on short term contracts doing complaint handling. There were a few graduates with no experience at all!! Then theres the actual FOS employed staff, I dont believe they touch the PPI complaints themselves.

Thanks for that roonaldo.

Not sure of the relevance of CeMAP or FPC to PPI as it is a general insurance contract and I would have thought CeRCH and CeRGI were more appropriate.

That is not to criticise you, only an observation that FOS may have shortcomings.

magpiecottage

ianhillwoodville wrote: »

So I cannot go to the FOS on the outcome of my current complaint but might be able to on the handling.

I understand where you are coming from but think it will fail on the grounds that if the complaint is about something outside FOS jurisdiction then its handling will also be outside jurisdiction.

Anyway for the cost of a stamp it's all quite cathartic, I might even start saying I don't believe it soon!

There is, I suppose, an argument that at least you can then be philosophical and will not have to live the rest of your life wondering.

You need to decide when the point comes to let it go, though. The emotional cost of battling on can eventually reach a point where it is not worth doing so.

I read last night something in some regulations or similar that PPI was in fact a different loan although for convenience could be shown on the same agreement - I am googling like mad to find it again. Anyway the main loan was for more than £25,000 so was an 'unregulated' agreement (have I got that right) but the PPI wasn't so am looking to see whether the agreement was in fact flawed.

It is possible that it was poorly drafted. However, that would not make it totally unenforcible and it would still fall outside FOS jurisdiction because credit broking other than residential mortgages only became subject to compulsory FOS jurisdiction in 2007, after you took it out.

It would also be possible to include it in the one loan agreement anyway.

SImilarly the LTV with PPI was in excess of 100% so am digging for some of the regulations and guidance on that just in case.

That would not make any difference - it simply means the lender has less security and is therefore taking a bigger risk.

That is a matter of legitimate commercial judgement. Even if the loan was under FOS jurisdiction it would not consider such cases.

marshallka

A guide here on MSE about complaining to FOS and treating customers fairly

http://www.moneysavingexpert.com/reclaim/fight-back-fos

He also mentions in this that if you miss the deadline of 6 months to FOS to start your complaint again. So many on here say you have missed out altogether but I would think after reading this its always worth another shot.

marshallka

magpiecottage wrote: »

I understand where you are coming from but think it will fail on the grounds that if the complaint is about something outside FOS jurisdiction then its handling will also be outside jurisdiction.

But the complaint would not be outside jurisdiction as the complaint is about the handling of the complaint (or not handling of the complaint) and it would then be asking FOS to make sure that firm handles it correctly and fairly.

ALL firms could pass the buck unfairly and all that consumers want is a chance. (Some firms just send out a letter saying that another firm sold the PPI and consumers KNOW and have evidence of this not being the case BUT they also know that both themselves and the so called broker is outside FOS jurisdicition so its just a way of getting into the system. All firms on the FSA register should treat customers fairly. They are clearly not. I think we will see a lot of complaints at FOS on this matter in that the firms are not handling complaints and giving any evidence to consumers of what they are stating.

Half the firms when they know that a complaint is outside of FOS jurisdiction just send out a letter that is actually a template letter for all. They have not even read the contents of the complaint and its certainly not personal. They need to address ALL complaints when they have had regular failings in their sales of PPI regardless of it being within FOS jurisdiction or since regulations began.

ianhillwoodville

Magpiecottage you are exceeding wise and yes I will have to recognise the time to quit. I am actually sanguine about the money to some degree, after all I've not had it for five years but have enough mischief in me to try and find the weak points. Not that I regard myself as an expert or a champion but somebody had to be the first to say PPI was commonly mis-sold and push it, oh get me next I'll be crying God for Harry, England and St George!

Seriously I think if nothing else it could be interesting to see if the FOS accepts a complaint about a complaints handling. I know they won't be able to make a decision on any mis-selling per se but they might be able to offer some help.

Let's see what happens some way to go I suspect and maybe if I get there I might get an Ombudsman in a really good mood who is tired of dealing with complaints that should have been sorted.

Then again I could not!

marshallka

http://www.fsa.gov.uk/pages/Doing/Regulated/tcf/pdf/complaints.pdf

marshallka

ianhillwoodville wrote: »

Magpiecottage you are exceeding wise and yes I will have to recognise the time to quit. I am actually sanguine about the money to some degree, after all I've not had it for five years but have enough mischief in me to try and find the weak points. Not that I regard myself as an expert or a champion but somebody had to be the first to say PPI was commonly mis-sold and push it, oh get me next I'll be crying God for Harry, England and St George!

Seriously I think if nothing else it could be interesting to see if the FOS accepts a complaint about a complaints handling. I know they won't be able to make a decision on any mis-selling per se but they might be able to offer some help.

Let's see what happens some way to go I suspect and maybe if I get there I might get an Ombudsman in a really good mood who is tired of dealing with complaints that should have been sorted.

Then again I could not!

I totally agree with you. Its the only way for those whereby the complaint would more than most likely to have been upheld if it had been within jurisdiction of FOS. You are only asking to be treated fairly. One of the rules for firms is to treat you fairly and they are breaking rules in not doing. That is your complaint.