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  • FIRST POST
    • Rclj
    • By Rclj 6th Mar 18, 2:48 PM
    • 15Posts
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    Rclj
    Not upheld ppi claim but commission involved ?
    • #1
    • 6th Mar 18, 2:48 PM
    Not upheld ppi claim but commission involved ? 6th Mar 18 at 2:48 PM
    I had my ppi claim rejected today over the phone, was told I would receive letter with reasons why, I am not to worried as I know I was misold and feel this is a stalling tactic,
    The bank also gave me new info on details of my ppi saying it was commission based but due to current FSA rules can't be acted upon , I had no idea it was a commission sale as was bought in a bank from a bank employee this makes me more certain I was misold but how can I use this new info on a current claim ?
Page 1
    • dunstonh
    • By dunstonh 6th Mar 18, 3:22 PM
    • 92,558 Posts
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    dunstonh
    • #2
    • 6th Mar 18, 3:22 PM
    • #2
    • 6th Mar 18, 3:22 PM
    I am not to worried as I know I was misold and feel this is a stalling tactic,
    Nowadays, the banks are acting much more fairly on PPI complaints. It is one of the reasons why the FOS uphold rate on PPI complaints has fallen and they now reject more than they uphold (unlike a few years ago).

    So, its not likely to be a stalling tactic. There is no point them rejecting a complaint as a stalling tactic as that isnt how it works.

    However, if you have the evidence to back up your allegations and can show they are wrong (and not relying on unprovable allegations) then you will get your chance to show that to the FOS. However, you may want to show this to the firm if it helps your complaint.

    The bank also gave me new info on details of my ppi saying it was commission based but due to current FSA rules can't be acted upon , I had no idea it was a commission sale as was bought in a bank from a bank employee this makes me more certain I was misold but how can I use this new info on a current claim ?
    You may want to rewrite that as it is conflicting.

    Plevin only applies to rejected complaints. So, that part seems normal. The FSA is the Food Standards Agency. So, I doubt they referred to their rules. The financial regulator is the FCA. It is normal for a rejected complaint to be assessed under the Plevin criteria.

    Your post reads as if they are rejecting it too under the Plevin assessment. There could be several reasons for this. The most common one is that the debt was repaid before 2008 and therefore not subject to section 140 of the CCA 2006 (which became effective in 2008).

    The commission element has no impact on your complaint. Bank staff were not paid commission. It was the bank that got the commission. FCA rules did not require commission disclosure. So, it doesnt make it missold. However, it introduced a new set of rules that are to be applied retrospectively if you qualify. Your wording suggests you do not qualify.
    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.
    • Rclj
    • By Rclj 6th Mar 18, 3:39 PM
    • 15 Posts
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    Rclj
    • #3
    • 6th Mar 18, 3:39 PM
    • #3
    • 6th Mar 18, 3:39 PM
    I was on the phone to a man with a Dutch accent I apologise for this mistake on the letters
    • Rclj
    • By Rclj 6th Mar 18, 3:59 PM
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    Rclj
    • #4
    • 6th Mar 18, 3:59 PM
    • #4
    • 6th Mar 18, 3:59 PM
    I have asked bank to review their decision which is why I haven't gone into to much detail the guy on phone was helpful enough the policy it was for was pre Plevin so wouldn't be able to be added into any calculation but my point was if a bank hasn't informed you that you can buy the ppi else where and also that they are on commission of sale does this not back up any evidence I have submitted?
    • dunstonh
    • By dunstonh 6th Mar 18, 4:24 PM
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    dunstonh
    • #5
    • 6th Mar 18, 4:24 PM
    • #5
    • 6th Mar 18, 4:24 PM
    but my point was if a bank hasn't informed you that you can buy the ppi else where and also that they are on commission of sale does this not back up any evidence I have submitted?
    1 - There has never been any requirement for a bank to tell you that you can buy the PPI elsewhere
    2 - There was never any rule requirement on PPI to disclose commission the bank was paid on products in its own range.

    So, neither of those things are valid complaint reasons.
    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.
    • Rclj
    • By Rclj 6th Mar 18, 5:47 PM
    • 15 Posts
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    Rclj
    • #6
    • 6th Mar 18, 5:47 PM
    • #6
    • 6th Mar 18, 5:47 PM
    I used the Resolver tool that MSE recommends and one of the ppi check list is "Did the adviser (or literature) make it clear you could buy PPI from another provider"???
    So it must be something they are supposed to do
    • Nearlyold
    • By Nearlyold 6th Mar 18, 5:55 PM
    • 1,055 Posts
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    Nearlyold
    • #7
    • 6th Mar 18, 5:55 PM
    • #7
    • 6th Mar 18, 5:55 PM
    I used the Resolver tool that MSE recommends and one of the ppi check list is "Did the adviser (or literature) make it clear you could buy PPI from another provider"???
    So it must be something they are supposed to do
    Originally posted by Rclj
    It isn't. Any more than Tesco have to tell you can buy beans in Waitrose.
    • Rclj
    • By Rclj 6th Mar 18, 6:03 PM
    • 15 Posts
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    Rclj
    • #8
    • 6th Mar 18, 6:03 PM
    • #8
    • 6th Mar 18, 6:03 PM
    Well I guess the professional website and form must need updating as people are using it as a guide for their claims
    • -taff
    • By -taff 6th Mar 18, 6:09 PM
    • 7,406 Posts
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    -taff
    • #9
    • 6th Mar 18, 6:09 PM
    • #9
    • 6th Mar 18, 6:09 PM
    Yep, it does. Please e-mail the site owner to tell them that. I'm sure they will respond forthwith.
    • Rclj
    • By Rclj 6th Mar 18, 6:30 PM
    • 15 Posts
    • 0 Thanks
    Rclj
    It was updated in February 2018 so it might be that dedicated resolution firm and a top money advice site aren't as clued up as they make out then ....
    • dunstonh
    • By dunstonh 6th Mar 18, 6:34 PM
    • 92,558 Posts
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    dunstonh
    Well I guess the professional website and form must need updating as people are using it as a guide for their claims
    Originally posted by Rclj
    Wouldnt be the first time they made a mistake. Won't be the last. More importantly, that reason does not appear on the FCA list and does not appear on the MSE article on PPI.

    Remember that Resolver is a money maker. It harvests the data and sells it aggregated to third parties.

    I suspect it is down to wording.

    There has never been any requirement for a bank to tell you that you can buy the PPI elsewhere. There still isn't. However, if you ask if you can buy it elsewhere, they are not allowed to lie and say no. If they did then that would be a missale reason.

    The actual complaint reason is if you were not told it was optional or they insisted you took out their policy. Which is not the same thing as saying they didnt tell you that you could buy from elsewhere.
    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.
    • Rclj
    • By Rclj 6th Mar 18, 6:39 PM
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    Rclj
    My complaint is based on number of factors and having discussed this with the lender today
    • Rclj
    • By Rclj 6th Mar 18, 6:48 PM
    • 15 Posts
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    Rclj
    My complaint is based on a number factors the main ones being we werent told the ppi was optional and also that we had to have it if we were to get the product we wanted there are other reasons too . The first person I spoke to wasn't as helpful as the guy today, I actually came off the phone the first time feeling like I had been stitched up I explained that today on phone and that is why the guy said it'll be reviewed
    • dunstonh
    • By dunstonh 6th Mar 18, 8:40 PM
    • 92,558 Posts
    • 59,844 Thanks
    dunstonh
    the main ones being we werent told the ppi was optional
    Rare to see a complaint upheld on that basis unless it is in the documentation.
    l and also that we had to have it if we were to get the product we wanted there are other reasons too .
    If it was actually a condition of borrowing, then that is allowed and not a missale reason as long as the product was suitable.

    It is only a missale reason if that was a lie. However, again, its a difficult one to prove.

    They could still change their decision as none of us here have the benefit of the audit trail. Just be prepared for failure as you are looking at the weakest complaint reasons there are. Most succeed on stronger reasons than those or get lucky on an auto-payout.
    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.
    • kenmore
    • By kenmore 7th Mar 18, 11:09 PM
    • 2 Posts
    • 0 Thanks
    kenmore
    being pastered by claims fiirm
    I used a claims firm to see if I was missold ppi by the Halifax it was not upheld and the claim went no further. Last week the Halifax transferred money into my not for ppi but for the commission and interest which they didn't tell me about , I now have the claim company phoning me asking me for payment,I used the claims company for missold ppi and nothing else,I was just wondering if anyone was in the same boat/
    • dunstonh
    • By dunstonh 7th Mar 18, 11:25 PM
    • 92,558 Posts
    • 59,844 Thanks
    dunstonh
    I used a claims firm to see if I was missold ppi by the Halifax it was not upheld and the claim went no further. Last week the Halifax transferred money into my not for ppi but for the commission and interest which they didn't tell me about , I now have the claim company phoning me asking me for payment,I used the claims company for missold ppi and nothing else,I was just wondering if anyone was in the same boat/
    Originally posted by kenmore
    If the plevin payout is within 6 months of the rejection then the CMC is entitled to be paid. If its over 6 months, they are not unless you signed a new agreement with them or they had previously told you about Plevin and were active in the process.

    The rules are here:
    https://www.gov.uk/government/publications/claims-management-companies-plevin-guidance/plevin-guidance-for-claims-management-companies

    See section 3.

    The Ministry of Justice, back in 2014, in a bulletin issued about CMCs billing people for money they are not entitled to said it could be considered fraud.
    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.
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