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  • FIRST POST
    • Former MSE Helen
    • By Former MSE Helen 11th Dec 12, 10:31 AM
    • 2,324Posts
    • 971Thanks
    Former MSE Helen
    MSE News: PPI mis-selling payments now over 7.5 billion
    • #1
    • 11th Dec 12, 10:31 AM
    MSE News: PPI mis-selling payments now over 7.5 billion 11th Dec 12 at 10:31 AM
    "More than 7.5 billion has been paid out in total for PPI claims since January 2011, the latest FSA figures reveal..."

Page 1
    • Percy1983
    • By Percy1983 11th Dec 12, 11:49 AM
    • 4,990 Posts
    • 7,824 Thanks
    Percy1983
    • #2
    • 11th Dec 12, 11:49 AM
    • #2
    • 11th Dec 12, 11:49 AM
    I will say what annoys me with this is there is many policies which weren't mis-sold yet everybody is claiming it back.

    Yet its the 'stupid' like myself who read small print and never took out PPI who have missed out of years of free insurance.
    Have my first business premises (+4th business) 01/11/2017
    Quit day job to run 3 businesses 08/02/2017
    Started third business 25/06/2016
    Son born 13/09/2015
    Started a second business 03/08/2013
    Officially the owner of my own business since 13/01/2012
  • jeannie mary brown
    • #3
    • 30th Dec 12, 9:37 AM
    in court over PPI
    • #3
    • 30th Dec 12, 9:37 AM
    have gone to small claims court over M and S and Debenhams store cards as they have both refused to refund monies, bypassed Ombudsman. cards are quite old and they have used 2005 legislation to say cannot claim, has anyone done this before, can anyone explain this 2005 scenario ?
    Time of the essence as court cases up soon, they have employed big firm of solicitors so on my onio
    • dunstonh
    • By dunstonh 30th Dec 12, 12:27 PM
    • 98,597 Posts
    • 67,017 Thanks
    dunstonh
    • #4
    • 30th Dec 12, 12:27 PM
    • #4
    • 30th Dec 12, 12:27 PM
    have gone to small claims court over M and S and Debenhams store cards as they have both refused to refund monies, bypassed Ombudsman. cards are quite old and they have used 2005 legislation to say cannot claim, has anyone done this before, can anyone explain this 2005 scenario ?
    Time of the essence as court cases up soon, they have employed big firm of solicitors so on my onio
    Originally posted by jeannie mary brown
    Very few successes have been seen in court. Most lose and suffer costs. Lenders have been going to court and fighting the cases and not rolling over.

    The PPI issue is largely due to the FSA rulings. These rulings are not laws. So, are not recognised in court. The FSA have actually made it very easy for people to complain and succeed by moving the goal posts. It was that which the lenders were particularly unhappy about.

    The problem is that if you go to court, you cannot use the FSA and what it has done as they are not laws and your provider was never regulated by the FSA and never required to follow its rules. Also, the onus will be on your to show a breach of law. Almost certainly you wont be able to to do this. You will need evidence to support your allegations. What evidence do you have?

    2005 applies as insurance did not become regulated by the FSA until 2005.

    I think you are very brave for going to court. I suppose you only stand to have around 250 awarded against you. So, the overall cost for you wont be that much.
    I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
    • Moneyineptitude
    • By Moneyineptitude 30th Dec 12, 12:42 PM
    • 24,045 Posts
    • 13,452 Thanks
    Moneyineptitude
    • #5
    • 30th Dec 12, 12:42 PM
    • #5
    • 30th Dec 12, 12:42 PM
    have gone to small claims court over M and S and Debenhams store cards
    Originally posted by jeannie mary brown
    Why have you done this?

    2005 is the year regulation of the Insurance Industry by the FSA began.

    Didn't you do any research before deciding on court action?

    What concrete evidence of illegal wrong-doing on the part of the retailers do you have?

    When you are asked why you decided to "bypass" the Ombudsman, what reasons will you give?

    I'm afraid you'll be paying costs for this waste of time...
    Last edited by Moneyineptitude; 30-12-2012 at 12:48 PM.
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