PPI Reclaiming discussion Part II

chipbeck

marshallka wrote: »

i would say 14 days here. How do they get away with it without it becoming a criminal offence of theft, deception and fraud.

Thats my thinking as well. What ever way your looking at it they have done something very wrong and should really be brought to justice. Boot and other foot job and I've little doubt I'd be for the high jump.

marshallka

Tiggrae, when does this become fraud and deception. Surely it is in some cases and we should be protected by some authorities.

tiggrae

marshallka wrote: »

Tiggrae, when does this become fraud and deception. Surely it is in some cases.

sometimes the line between civil claims (ie for breach of contract) and the criminal crimes of fraud and deception can become blurred. Of course there are two different courts which deal with the two different types of matters and the burdens of proof are very different in the two courts - you have to show criminal intent etc. for the crown court and it's very unlikely the Crown Prosecution Service would commence proceedings even if a complaint were made - bearing in mind the length of time etc. Basically before the Financial Services & Markets Act 2000 - Financial Companies were supposed to be self regulating (ie they were honerable and of course wouldn't cheat anyone - same with Members of Parliament that's why they are called the honerable or right honerable and they'de never cheat would they !!!!) So the 2000 Act was brought in to regulate the financial markets and try and avoid the corporate failures of BCCI, Maxwell etc. and stop people being cheated

MattClem

Sorry, just to clarify if I do ditch the policy and get renumeration can I then claim for the policy or do I have to pay off everything and then claim?

tiggrae

MattClem wrote: »

Sorry, just to clarify if I do ditch the policy and get renumeration can I then claim for the policy or do I have to pay off everything and then claim?

sorry, I don't quite understand the question - have been up since 5.30am !!!!

MattClem

If I ditch my policy now and the company gives me a refund of 5%-9% does this jeopordise any future claim I might make against the £9000+(I will have lost) for the policy being missold to me.

marshallka

tiggrae wrote: »

sometimes the line between civil claims (ie for breach of contract) and the criminal crimes of fraud and deception can become blurred. Of course there are two different courts which deal with the two different types of matters and the burdens of proof are very different in the two courts - you have to show criminal intent etc. for the crown court and it's very unlikely the Crown Prosecution Service would commence proceedings even if a complaint were made - bearing in mind the length of time etc. Basically before the Financial Services & Markets Act 2000 - Financial Companies were supposed to be self regulating (ie they were honerable and of course wouldn't cheat anyone - same with Members of Parliament that's why they are called the honerable or right honerable and they'de never cheat would they !!!!) So the 2000 Act was brought in to regulate the financial markets and try and avoid the corporate failures of BCCI, Maxwell etc. and stop people being cheated

So really then, if i, little me, forged a mortage or loan before this financial services and market act 2000 and then the mortage company came after me for the money they would not be able to do anything as it was before this date and would not be looked at as a criminal offense. Its one rule for the little people and then immumity from any CRIME for these lot. It stinks

tiggrae

MattClem wrote: »

If I ditch my policy now and the company gives me a refund of 5%-9% does this jeopordise any future claim I might make against the £9000+(I will have lost) for the policy being missold to me.

Hi no it doesn't if you've received a rebate be it high or low, if you believe you were mis sold the policy you can claim for the amount you've paid upto the settlement.

marshallka

Another for you tiggrae, its about the commission paid to a broker. I have a piece of paper that states £850.00 commission. This looks to be 5% of my actual loan. I cannot see that i paid this but it was obviously paid to the broker. It is only 5% of the loan and not the ppi so should i have been informed of this commission. I know there is something about commission and the customer being told its being paid. I don't know if this applies to me as i cannot see it charged to us specifically.

tiggrae

marshallka wrote: »

So really then, if i, little me, forged a mortage or loan before this financial services and market act 2000 and then the mortage company came after me for the money they would not be able to do anything as it was before this date and would not be looked at as a criminal offense. Its one rule for the little people and then immumity from any CRIME for these lot. It stinks

I don't think I've explained it well - the FS&M Act 2000 was brought in in an attempt to stop frauds happening in the first place by having a regulator or watchdog in place - a fraud is still a fraud either before or after the Act - for example the Maxwell brothers were imprisoned for fraud during the 1990's as were Directors of the Guiness Corporation for insider dealing - financial companies have been 'allowed to get away with it' because no one was looking over their shoulder and people believed they wouldn't be cheated - as a population we're becoming slowly more sevvy and less trusting -

You can write almost anything into a contract, then say well you signed it !! Hence the Unfair Consumer Contract Terms Regulations 1999 - it always pays to read the small print - it's a Contract, but most people have never been bothered - that's why they've been cheated !!!