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  • FIRST POST
    • MSE Guy
    • By MSE Guy 11th Oct 10, 6:09 PM
    • 1,628Posts
    • 1,255Thanks
    MSE Guy
    MSE News: Banks put PPI claims on hold in defiance of regulator
    • #1
    • 11th Oct 10, 6:09 PM
    MSE News: Banks put PPI claims on hold in defiance of regulator 11th Oct 10 at 6:09 PM
    This is the discussion thread for the following MSE News Story:
    Last edited by MSE Guy; 13-10-2010 at 1:14 PM.
Page 1
  • chudiver
    • #2
    • 11th Oct 10, 7:11 PM
    • #2
    • 11th Oct 10, 7:11 PM
    Wow.

    Surely there must be some misunderstanding... What happens if the FSA terminates their trading license?
    • marshallka
    • By marshallka 11th Oct 10, 7:13 PM
    • 14,494 Posts
    • 20,661 Thanks
    marshallka
    • #3
    • 11th Oct 10, 7:13 PM
    • #3
    • 11th Oct 10, 7:13 PM
    Defiant and certainly not a good example....

    Wrong, wrong, wrong

    This is like teaching anyone that does not agree with something that they can take the law into their own hands????
    Last edited by marshallka; 11-10-2010 at 7:19 PM.
    • marshallka
    • By marshallka 11th Oct 10, 7:18 PM
    • 14,494 Posts
    • 20,661 Thanks
    marshallka
    • #4
    • 11th Oct 10, 7:18 PM
    • #4
    • 11th Oct 10, 7:18 PM
    Wow.

    Surely there must be some misunderstanding... What happens if the FSA terminates their trading license?
    Originally posted by chudiver
    Doubt they would do that, the FSA had a loan of 200million from them!!!!
    • corbyboy
    • By corbyboy 11th Oct 10, 7:27 PM
    • 1,137 Posts
    • 1,378 Thanks
    corbyboy
    • #5
    • 11th Oct 10, 7:27 PM
    • #5
    • 11th Oct 10, 7:27 PM
    I am pretty disappointed about this. Just had a letter from Halifax 2 weeks ago saying that they are processing my PPI mis-selling complaint. Guess this is on hold now.
    • hopefulshell07
    • By hopefulshell07 11th Oct 10, 8:36 PM
    • 177 Posts
    • 187 Thanks
    hopefulshell07
    • #6
    • 11th Oct 10, 8:36 PM
    • #6
    • 11th Oct 10, 8:36 PM
    No wonder LTSB haven't sent me amy money! They received my acceptance in August but I haven't heard anything from them so far!
    • di3004
    • By di3004 11th Oct 10, 8:51 PM
    • 42,528 Posts
    • 56,679 Thanks
    di3004
    • #7
    • 11th Oct 10, 8:51 PM
    • #7
    • 11th Oct 10, 8:51 PM
    No wonder LTSB haven't sent me amy money! They received my acceptance in August but I haven't heard anything from them so far!
    Originally posted by hopefulshell07

    Chase them up, to what I am aware of, anything they have upheld they should still continue to pay out.
    Good luck.
    The one and only "Dizzy Di"
  • Premier
    • #8
    • 12th Oct 10, 8:16 AM
    • #8
    • 12th Oct 10, 8:16 AM
    "We know 81% of people who go to the Ombudsman with PPI complaints win. We know there has been systemic mis-selling
    Yet only an average of 5% of rejected complainants, across all product sectors, take their case to the arbitrator.
    Sounds like there is systemic mis-claiming going on too, if 95% of complainants give up on their claim at the first hurdle, especially when it's free for consumers to complain to the FOS, and all regulated companies will clearly offer this option to the complainant in their response.
    "Now to trolling as a concept. .... Personally, I've always found it a little sad that people choose to spend such a large proportion of their lives in this way but they do, and we have to deal with it." - MSE Forum Manager 6th July 2010
  • NIGELK
    • #9
    • 12th Oct 10, 9:16 AM
    • #9
    • 12th Oct 10, 9:16 AM
    I am very confused. The banks are seeking a judicial review of the new rules - right? So the High Court is just looking at the moment on whether a judicial review can be granted? That's all? So how on earth Lloyds Bank can use the legal argument when the court is just deciding on if a legal case can be allowed is beyond me! Does this make sense?
    • marshallka
    • By marshallka 12th Oct 10, 9:22 AM
    • 14,494 Posts
    • 20,661 Thanks
    marshallka
    I am very confused. The banks are seeking a judicial review of the new rules - right? So the High Court is just looking at the moment on whether a judicial review can be granted? That's all? So how on earth Lloyds Bank can use the legal argument when the court is just deciding on if a legal case can be allowed is beyond me! Does this make sense?
    Originally posted by NIGELK
    The thing is they have!!!
  • proeleche
    Sounds like there is systemic mis-claiming going on too, if 95% of complainants give up on their claim at the first hurdle, especially when it's free for consumers to complain to the FOS, and all regulated companies will clearly offer this option to the complainant in their response.
    Originally posted by Premier
    While I agree that some people will make claims purely to see what they can get, a big part of the reason that claims do not always go further is the way that firms deal with complaints.

    In my experience, a firm will ackowledge your complaint and tell you they are investigating; depending on how long you have been waiting, you may receive another letter saying they are still investigating. In a lot of cases, if they are rejecting your complaint, you are not told of your option to appeal to the FOS until you have in turn, sent a response to their initial rejection. This is the 2 stage complaint process which was recently criticised on national news and by the FSA.

    We must also ackowledge the fact that whistleblowers have repeatedly stated that firms insist on all complaints being rejected in the first instance, in order to save time and resources.

    So I would say that while some complaints will be spurrious, the management of complaints needs to be taken into account and we have to remember that not all people are aware of their rights and how to 'exhaust' these different complaints procedures.
    Last edited by proeleche; 12-10-2010 at 9:35 AM.
    • marshallka
    • By marshallka 12th Oct 10, 9:33 AM
    • 14,494 Posts
    • 20,661 Thanks
    marshallka
    http://www.insurancetimes.co.uk/story.asp?sectioncode=13&storycode=387172&c=1
    • mrs-stressed
    • By mrs-stressed 12th Oct 10, 9:33 AM
    • 582 Posts
    • 992 Thanks
    mrs-stressed
    Another kick in the nuts for all of us who are trying and hoping for a result. It now puts my three years of waiting as a complete and utter waste of my time and energy. I am so upset. I am not feeling emotional just bloudy well ENRAGED that these b******s can push and pull all of us round without any impunity whatsoever. I shall be sending another email (this will be the third one) to Eric Daniels - head of Lloyds - as at least I dont have to lick a stamp or envelope (too much energy) and I shall report back to tell you what one of his minions (it wont be him as he no doubt will be in Maldives sipping champagne and boasting of a result for the bank) says in his place.

    I am sorry to sound so scathing its just that I am SOOO ANGRY - but I have no where to vent my anger - so you guys are getting it instead!

    Mrs s x
  • mrs skint
    My sentiments exactly mrs s. It seems they can get away with any bl**dy thing just lately. Really considering having a look into other options as to where else to put my money - like a credit union.
  • mrs skint
    or under the freakin mattress for that matter
  • brokeally
    I spoke to the bank yesterday morning who said i should receive in excess of 6000 within 7 days. I have not yet got this in writing so im guessing i now wont get it.

    I will phone them again later then go from there, will let you know what response i get.
    • di3004
    • By di3004 12th Oct 10, 9:57 AM
    • 42,528 Posts
    • 56,679 Thanks
    di3004
    I think ongoing payments are still going to be issued.

    Ring them to double check on this because these were resolved before all this come about and frozen.

    Good luck.

    PS, read Marshallka's post above X
    The one and only "Dizzy Di"
    • marshallka
    • By marshallka 12th Oct 10, 9:59 AM
    • 14,494 Posts
    • 20,661 Thanks
    marshallka
    I think ongoing payments are still going to be issued.

    Ring them to double check on this because these were resolved before all this come about and frozen.

    Good luck.

    PS, read Marshallka's post above X
    Originally posted by di3004
    The bank said: We will stand by any settlements that have already been made. However, while the court is considering the issues raised by the BBA, any PPI sales-related complaints will be on hold until further notice.
  • NIGELK
    Email Address
    Another kick in the nuts for all of us who are trying and hoping for a result. It now puts my three years of waiting as a complete and utter waste of my time and energy. I am so upset. I am not feeling emotional just bloudy well ENRAGED that these b******s can push and pull all of us round without any impunity whatsoever. I shall be sending another email (this will be the third one) to Eric Daniels - head of Lloyds - as at least I dont have to lick a stamp or envelope (too much energy) and I shall report back to tell you what one of his minions (it wont be him as he no doubt will be in Maldives sipping champagne and boasting of a result for the bank) says in his place.

    I am sorry to sound so scathing its just that I am SOOO ANGRY - but I have no where to vent my anger - so you guys are getting it instead!

    Mrs s x
    Originally posted by mrs-stressed
    Mrs S

    Please let me know his email address because I'll like to vent my anger at "him" also. I notice that the Lloyds website doesn't appear to show email addresses - just phone numbers?
    • mrs-stressed
    • By mrs-stressed 12th Oct 10, 10:04 AM
    • 582 Posts
    • 992 Thanks
    mrs-stressed
    God your lucky (if thats the word) to even get a phone call!! My claim has been and consistently been not only genuine but hard fought for - for three years FGS. And I still dont have a result. Not likely now I think. It would be nice for someone to communicate with me personally instead of reading it in the media. I am a real human being with money problems DUE to their incompetance and now they have thrown it all back in my face and laughed whilst they did it (well, I just assumed there would be alot of hand-shaking and backslapping in the boardroom after that announcement).

    It just takes my breath away that we ordinary people just lie down and have our tummies tickled whilst these people rob us blind and still there is NOTHING WE CAN DO.

    I am truly truly disgusted with this lot and the new bank I am with is now charging 27.50 for going pennies over overdraft DUE to my employers cocking up my wages this month. So without exception they are ALL as bad as eachother.

    Mrs s x
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