Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • Former MSE Helen
    • By Former MSE Helen 23rd Apr 12, 3:21 PM
    • 2,324Posts
    • 971Thanks
    Former MSE Helen
    MSE News: PPI summit: Commitment to help consumers reclaim for free
    • #1
    • 23rd Apr 12, 3:21 PM
    MSE News: PPI summit: Commitment to help consumers reclaim for free 23rd Apr 12 at 3:21 PM
    This is the discussion thread for the following MSE News Story:

    Last edited by MSE Guy; 23-04-2012 at 5:52 PM.
Page 1
    • magpiecottage
    • By magpiecottage 23rd Apr 12, 7:21 PM
    • 9,114 Posts
    • 5,584 Thanks
    magpiecottage
    • #2
    • 23rd Apr 12, 7:21 PM
    • #2
    • 23rd Apr 12, 7:21 PM
    The regulation of these parasites would be funny if it were not so serious.

    There are regularly complaints on MSE about businesses which flout the rules and fraudulently take money from consumers - Ryan Stanton and George Stanton are the directors of Client Connect Limited which seems to be the biggest offender.

    I also regularly see complaints against independent advisers about non-existent PPI. Consumers need to be aware that if an ambulance chaser makes a claim in compliant that is untrue they could find themselves complicit in an offence under the Fraud Act.
  • jjr197
    • #3
    • 23rd Apr 12, 8:07 PM
    Nothing to fear
    • #3
    • 23rd Apr 12, 8:07 PM
    Any CMC that provides an honest service has nothing to fear from stronger regulation!

    Then again, as the banks currently ignore the regulation placed over them, wouldn't that be a better place to start?

    Jimi
  • jjr197
    • #4
    • 23rd Apr 12, 8:51 PM
    • #4
    • 23rd Apr 12, 8:51 PM
    Unsolicitated texting? Perfect reason for regulation!
    What are the bets that texting "Stop" does nothing?!
  • ppidisgrace
    • #5
    • 23rd Apr 12, 9:22 PM
    • #5
    • 23rd Apr 12, 9:22 PM
    how much are the banks paying promote to advise people to go direct?
    in the interest of transparency is this a fair question?
  • jjr197
    • #6
    • 23rd Apr 12, 9:56 PM
    • #6
    • 23rd Apr 12, 9:56 PM
    An interesting question! But not one that we'll ever get the answer to I bet!
  • Martinf
    • #7
    • 24th Apr 12, 7:46 AM
    • #7
    • 24th Apr 12, 7:46 AM
    when is FirstPlus going to be investigated, all they keep saying to us is the loan and PPI was brokered by another company who has ceased trading, people need help.
  • davidh025c
    • #8
    • 24th Apr 12, 7:58 AM
    • #8
    • 24th Apr 12, 7:58 AM
    No idea what the banks pay, if anything, unless they donate to the likes of which? I would bet not a lot if they did. Lets be honest, it doesnt make any difference to the bank, they pay out exactly the same whether through a CMC or direct.

    Most of thier advice (that I have seen-correct me if I am wrong!) is on thier own PPI FAQ pages of the banks website, encouraging people to call them directly. I would wager they would prefer people contact them direct as the PPI legitimately mis-sold is wholly owed to the customer, not in part via 3rd party, and the whole point of PPI reclaim is ensure the customer is back in the financial position they were before the mis-sell. So going through a CMC clearly leaves them out of pocket...
    Shirley
    Only YOU can stop YOU achieving what you want in life
    • magpiecottage
    • By magpiecottage 24th Apr 12, 9:46 AM
    • 9,114 Posts
    • 5,584 Thanks
    magpiecottage
    • #9
    • 24th Apr 12, 9:46 AM
    • #9
    • 24th Apr 12, 9:46 AM
    how much are the banks paying promote to advise people to go direct?
    in the interest of transparency is this a fair question?
    Originally posted by ppidisgrace
    My guess is a lot less than it costs them in complaints to FOS by ambulance chasers about non-existent PPI.
  • Borris-the-Bear
    Which are the companies that keep sending me texts like
    <B>
    +447540123928
    </B>
    Records indicate you may be entitled to circa 3,667 in compensationfrom the mis-selling of PPI on credit cards or loans. Reply PPI for info. M Ltd.
    <B>
    +447549496989
    </B>
    You may be entitled to a refund of up to 2,950 for miss-selling of PPI on a loan or credit card. Reply CLAIM for more information or stop to opt out
    <B>
    +447563243270
    </B>
    Records suggest you may be owed 2,700 for Mis-Sold PPI on Loans/cards/finance. Text YES to start refund. text STOP to stop.
    <B>
    +447592746090
    </B>
    "FREE MSG: Our records indicate that you may be entitled to 3,750 for the accident you had. To apply free reply CLAIM to this message. Ro opt out text STOP "
    <B>
    +447707248735
    </B>
    Records suggest you may be owed 2,700 for Mis-Sold PPI on Loans/cards/finance. Text YES to start refund. text STOP to stop.
    <B>
    +447729300761
    </B>
    Records suggest you may be owed 2,700 for Mis-Sold PPI on Loans/cards/finance. Text YES to start refund. text STOP to stop.
    <B>
    +447783493784
    </B>
    URGENT! If you took out a Bank Loan or Credit Card prior to 2009 you are almost certainly entitled to 3000 compensation. To claim reply YES
    <B>
    +447842243257
    </B>
    Due to new legislation,those struggling with debt can now apply to have it written off.For more information text the word 'INFO' or to opt out text stop.
    <B>
    +447842250197
    </B>
    URGENT! If you took out a Bank Loan or Credit Card prior to 2007 you are almost certainly entitled to 3000 compensation. To claim reply YES
    <B>
    +447934202673
    </B>
    You have still not claimed the compensation you are due for the accident you had. To claim then pls reply CLAIM. To opt out text STOP.
    ?

    Maybe I have enough of these things that I can make a claim for harassment now? Who do I text CLAIM to for that ?
    Originally posted by 2sides2everystory

    I always forward them on to my provider. I like to think Vodafone sends in a team of highly trained Ninjas to shut each and every one of them down. Martin wrote quite an interesting article on the subject (of spam texts not ninjas):

    http://www.telegraph.co.uk/finance/personalfinance/consumertips/9208456/Martin-Lewis-how-to-stop-spam-texts.html
  • marina81
    I tried to claim my PPI back but in the end went to a claim company as i couldn't get any sense at all out of my bank. They kept telling me they couldnt find my PPI then my signature didnt match it was madness and i just didn't have the time to spend every day on the phone to them. Seems to me that this is a PR Stunt from the banks as it screams look at us we are the good guys. If they had just done what they were supposed to in the beginning we wouldn't be in this mess. I also don't trust them to put this right or be transparent! I am starting to loose complete trust in our banking system and their "rules and regulations".
    • patfearn
    • By patfearn 24th Apr 12, 10:51 AM
    • 5 Posts
    • 3 Thanks
    patfearn
    PPI and finance companies
    When are finance companies like GE Money going to be investigated? When we took out a loan some years ago we were forced to take PPI otherwise the loan would not be authorised. I spoke to the broker, the insurance company (Cardiff Pinnacle) and GE Money who all said the same thing. No PPI no loan. Now GE money say that they ad no part in the sale of the PPI so they are not responsible and yet they have answered the complaint letters sent to Cardiff Pinnacle.
    Have reported both to regulator who have given them 8 weeks to address my complaint. Problem is they have already started delay tactics and sent all letters to an address where I haven't lived for three years. Lucky for me my daughter now owns that house .
    These people will try anything to avoid responsibility so isn't it time we focused on them as well as the banks. They are just as much to blame and were perhaps even more unscrupulous than the banks if that's at all possible
  • Borris-the-Bear
    When are finance companies like GE Money going to be investigated? When we took out a loan some years ago we were forced to take PPI otherwise the loan would not be authorised. I spoke to the broker, the insurance company (Cardiff Pinnacle) and GE Money who all said the same thing. No PPI no loan. Now GE money say that they ad no part in the sale of the PPI so they are not responsible and yet they have answered the complaint letters sent to Cardiff Pinnacle.
    Have reported both to regulator who have given them 8 weeks to address my complaint. Problem is they have already started delay tactics and sent all letters to an address where I haven't lived for three years. Lucky for me my daughter now owns that house .
    These people will try anything to avoid responsibility so isn't it time we focused on them as well as the banks. They are just as much to blame and were perhaps even more unscrupulous than the banks if that's at all possible
    Originally posted by patfearn
    GE Money (formally GE Capital Bank) were investigated and fined 610,000 in 2007. http://www.fsa.gov.uk/library/communication/pr/2007/015.shtml
  • BLINDEDBYMEDIAPROPAGANDA
    I tried to claim my PPI back but in the end went to a claim company as i couldn't get any sense at all out of my bank. They kept telling me they couldnt find my PPI then my signature didnt match it was madness and i just didn't have the time to spend every day on the phone to them. Seems to me that this is a PR Stunt from the banks as it screams look at us we are the good guys. If they had just done what they were supposed to in the beginning we wouldn't be in this mess. I also don't trust them to put this right or be transparent! I am starting to loose complete trust in our banking system and their "rules and regulations".
    Originally posted by marina81
    Not all claims are as easy as MSE makes out and we can be very helpful in situations such as these with our experience of how the lenders try every tactic in the book to wriggle out of paying but we obviously know what to do !
  • BLINDEDBYMEDIAPROPAGANDA
    Any CMC that provides an honest service has nothing to fear from stronger regulation!

    Then again, as the banks currently ignore the regulation placed over them, wouldn't that be a better place to start?

    Jimi
    Originally posted by jjr197
    Could not of put it better myself
    • Credit-Crunched
    • By Credit-Crunched 24th Apr 12, 12:09 PM
    • 2,114 Posts
    • 4,139 Thanks
    Credit-Crunched
    When are finance companies like GE Money going to be investigated? When we took out a loan some years ago we were forced to take PPI otherwise the loan would not be authorised. I spoke to the broker, the insurance company (Cardiff Pinnacle) and GE Money who all said the same thing. No PPI no loan. Now GE money say that they ad no part in the sale of the PPI so they are not responsible and yet they have answered the complaint letters sent to Cardiff Pinnacle.
    Have reported both to regulator who have given them 8 weeks to address my complaint. Problem is they have already started delay tactics and sent all letters to an address where I haven't lived for three years. Lucky for me my daughter now owns that house .
    These people will try anything to avoid responsibility so isn't it time we focused on them as well as the banks. They are just as much to blame and were perhaps even more unscrupulous than the banks if that's at all possible
    Originally posted by patfearn
    What did you spend the loan on?

    Seriously forced, gun to head, arm bar, nasty words. You were not forced, you were desperate for finance and would do anything to secure it.

    You are an adult, if you say yes to everything offered to you in every day life then you must lead a very very interesting existence.

    Yes, it was wrong at the point of sale, however if you did not like it you should have walked away. Simple.
  • Coiley
    Many of these companies "helping" people reclaim PPI, previously sold it to their customers in the past.

    There are some companies that visit you in the home. This is so they can get a foot in the door to sell other products and services that the client didn't necessarily want!
  • Bean31
    What did you spend the loan on?

    Seriously forced, gun to head, arm bar, nasty words. You were not forced, you were desperate for finance and would do anything to secure it.

    You are an adult, if you say yes to everything offered to you in every day life then you must lead a very very interesting existence.

    Yes, it was wrong at the point of sale, however if you did not like it you should have walked away. Simple.
    Originally posted by Credit-Crunched
    As taken off MSE

    It's a common complaint that consumers are told they must buy a policy from the same provider as the loan in order to be accepted for the product. This is mis-selling.

    Any company that subscribes to the Lending Code (see list) agrees it won't insist you buy an insurance product from it. Therefore if the salesperson:

    Didn't make it clear the policy was optional or tell you about any cooling off period
    Implied or stated it would be more expensive if you didn't take the insurance
    Implied or insisted you take out their policy to qualify for the product or help with your application
    Was very pushy when selling the product, so that you felt you could not say no
    Would not let you continue with the application if you did not sign the insurance agreement as well

    I rest my case - its a common complaint.....! There are thousands of people who needed money for whatever reason, banks have prayed on vulnerable people for years and still do! I see you are one of those with bad debt, question reversed "what have you spent your money on?"
  • vince05
    have used a company to reclaim ppi ,have i got to pay them the 800 pound they want from the 2800 we got offered we are getting a cheque sent to us and company are sending a invoice to be paid in 3 weeks
  • Bean31
    If youve signed their terms and conditions then yes! The vendor pays you direct then it's up to you to settle with the cmc etc.

    Well done on your win though, brilliant!!!!
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

1,453Posts Today

7,790Users online

Martin's Twitter