Barclaycard PPI claim

[Deleted User]

efnewman wrote: »

We thought about Court

Do note that PPI mis-selling is an FSA issue, not a legal one.
I'd say your only realistic avenue is the Ombudsman. It may take up to a year, but it's free and (ultimately) likely to yield the most reward.

tifo

Moneyineptitude wrote: »

Do note that PPI mis-selling is an FSA issue, not a legal one.

Court can give results. The case has to be built around Conduct of Business rules and Unfair Relationship. It's an FSA issue but the FSA won't take action against a firm. The rules (marked 'R' as opposed to guidelines marked 'G') are part of law under FSMA 2000 so it makes any breach a legal matter. In the case of BCOB for example, the FSMA 2000 gives the consumer a right under s.150 to claim compensation.

I've seen cases where the bank has paid without going to trial and then paid the legal fees as well. They are so keen to not go to trial that they honour offers made years ago and will carry on mediation until a settlement is made between the solicitors.

The only problem is that cases over £5k carry the risk of losing and then having to pay the bank's (significant) costs. The limit is soon to be raised to £10k so will make some cases easier.

[Deleted User]

tifo wrote: »

The only problem is that cases over £5k carry the risk of losing and then having to pay the bank's (significant) costs. The limit is soon to be raised to £10k so will make some cases easier.

It's the potential cost versus gain that concerns me. Would any solicitor take such a case on a "no win-no fee" basis, for example?
The Ombudsman may take an age, but it's free and without any of the attendant risks of a court case.

efnewman

Well as we are now retired and on Pension Credit I think we should get Legal Aid. At the end of the day we can prove that the PPI was added, we can show by statements how much it cost, it was over 7 years and apparently these Policies only cover 5 years, I think them saying it because they can't find the Policy is an excuse. Perhaps we would stand more of a chance in the Small Claims Court.?

[Deleted User]

efnewman wrote: »

Well as we are now retired and on Pension Credit I think we should get Legal Aid.

I'd say that would be unlikely in cases of this nature, especially as the Ombudsman Service is already there for you.
Also remember that court cases are not normally heard for months, so not significantly any quicker than the Ombudsman.
If I were you I'd forget all about court and Claims Management Companies and ask the FOS to take your case.

efnewman

Yes you can get legal aid for civil cases. I might be dead in 12 months time lol. Also from what we have been told, they usually settle without going to Court like someone has just said. We could go with the FOS, wait 12 months and get nowhere, well from what I have read about others anyhow. Its hard to call. Thank you.

[Deleted User]

efnewman wrote: »

We could go with the FOS, wait 12 months and get nowhere

Do bear in mind that even if the Bank agreed to consider your case, there are no guarantees that it would uphold your complaint. Remember that it's not just the fact of having payment protection insurance that forms the basis of a valid complaint. You must have valid reasons to complain of mis-selling.
I'd also point out that any solicitor you approach will definitely try writing to the Bank in the first instance (so at least two months there) and would charge a fee for doing so if the Bank then agreed redress.

I can't stress enough, Ombudsman, Ombudsman...OMBUDSMAN

efnewman

Well as it was a Business loan, ie Self Employed. Was over 7 years and they only cover 5 years apparently and the fact we never knew we had it until all the TV adverts, I think we have a valid complaint, as the FOS have said. You actually don't need a Solicitor to go through the Small Claims Court you can do it yourself. Also the only reason they turned it down is because "they" cannot find the Policy, well we never remember seeing one either, but as we can prove it was paid by the statements we have then that cannot be disputed.

tifo

Moneyineptitude wrote: »

Would any solicitor take such a case on a "no win-no fee" basis, for example?

Yes, they do.

But then charge a 'success' fee of around 25%+vat same as any claims company.

I know a few that would take the case on.

tifo

Moneyineptitude wrote: »

I'd also point out that any solicitor you approach will definitely try writing to the Bank in the first instance (so at least two months there) and would charge a fee for doing so if the Bank then agreed redress.

The banks normally get back within a few weeks.

I know of a recent case where the bank has paid nearly £6,000 when the complaint was for around £750 on one account. The bank then went and looked at all previous loans and upheld all of them.

Quids in for the customer and the solicitor !!

The whole process took under 2 months. It might be a one off but it shows they can pay when they want to.