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Fade888

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Fade888 last won the day on July 1 2017

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  1. Hi Ford, You asked that I have a read of your thread and comment. Apologies if I mix anything up the thread is a bit all over the place! First up, loving the confusion over CPP and Carholder Protection Plan, they share an acronym but (as was correctly ascertained) one is PPI and the other protection for your credit cards (and keys!) for fraud etc. rubbish product rightfully redressed as a scheme, sadly not enough ppl signed up for redress and its not worth the time or money for litigation. If anyone still has not claimed I would advise them to try as their bank or provider may surprise them, the fact they are paying out for some PBP, statute barred PBA etc. shows that just because they don't have to, doesn't mean they wont. As most have pointed out, credit card PPI redress it not as straightforward as a loan. They are required to pay back if a claim is upheld: A combination of the PPI premiums paid Contractual interest associated with the premiums (only) as part of the card balance i.e. if CC APR interest was applied the % that was applicable to PPI premiums on the account at that time at the 8% simple interest if at any point in the cards life if the sum of this refund would have put you into a positive balance (interest on the credit balance only) Assuming you know that PPI was charged on the balance so zero balance = no PPI paid in that month This means that credit card refunds will vary massively, I've seen ones where no 8% is payable and others where the 8% has been 60+% of a >£20k redress with the premiums being the smallest factor. It depends how you managed your credit card, big balance, minimum payments = biggest wins in my experience. When the balance is unknown due to the age of the card, the firm will take the average balance and reduce this equally over time to the start of the account as an assumptive to calculate the redress - in line with FCA guidelines for PPI redress. This means that you may get back more or less than you are entitled to, we will never know unless it can be proved otherwise. If the start date is unknown (as with some PBAs) they will make an assumptive with this e.g. Lloyds PBAs beyond their records are set as a date half way between the product start (feb 1990 for first PBA) and the start of their records in 9/2001 A SAR can be useful if you think the refund is incorrect but we are beyond the days (I hope!) when banks might try and pull a fast one, they will be using the same information as you would get back in a DSAR and, given the account was closed over 10 years ago, it will likely be 'purged', statements mainly unavailable or probably only 06-07 provided with a cover sheet stating the months a zero balance was held. This is where statements retained by the individual can be useful, if you can pull out the full stack they must use these to calculate accurate redress. As I said, this could be shooting yourself in the foot as the refund could be lower than the assumptive, the spread sheets online are sufficient to work it out yourself with some time and effort before you submit a dispute. As for your FOS referral... 6 months still applies barring exceptional circumstances. However this is only if the bank objects, if it is not about the decision but the redress paid they may not object to a referral over 6 months. It seems you made it in time though? With FOS you only really need to let them know of your intention to refer and get a reference to stop the time limit, you can then go about disputing with the bank, getting a DSAR et al without the worry of going over the time limit. IMHO You would be better placed talking to Lloyds about it, I cant see that you have yet approached them for clarification on the refund? Ask them to provide you with a more detailed breakdown of their calculations and the info they have as you are unhappy and will go to FOS if they are not clearer how it was worked out. Unlike other banks you wont have signed a 'full and final' acceptance form for PPI they just pay you so you can dispute willy nilly. That was a bit of a disjointed waffle, any specific questions let me know. P.S. on the subject of text speak, does anyone else now use 'obvs' since its addition to the dictionary? Being in the dictionary makes it ok - obvs...
  2. I'll have a read through on Monday, I've a lot of exp with wfs be that fscs, direct, underwriters 'unknown' underwriters, irresponsible lending, cca matters etc but looked at the thread and it's 30 pages! Busy weekend so fresh head on Monday, if I can offer any advice I will (can't promise!). WFS we're a terrible, predatory, noxious lender when they were trading so I can only imagine what the scope of your ills with them are
  3. Agreed they can't and shouldn't. From experience, wins on this matter are the exception, not the norm (but doesn't mean you shouldn't try!). PBA is the prime example, statute barring being used willy nilly for the most ridiculous reasons and FOS are allowing it to stick. Most banks will do the checks mentioned prior to sending the letter and retain the evidence should they be challenged. In this instance it appears they have record of a complaint being made which is slightly different as they would/should only respond to the complaint if they verified the customer name and address first. The PO (is that the term?) has stated there are exceptional circumstances - it is unclear from the FOS comms mentioned if they have made a jurisdiction decision already and will consider the claim outside the 6 month referral period or are in the process of making that decision based on those circumstances. If the former - great a win for the consumer and exception justly applied - if the latter then fingers crossed. All that aside, if FOS will consider the PPI claim as an exception there is no guarantee it will be upheld, but most recent FOS data gives you an 86% chance it will!!! joint 7th highest bank for FOS PPI upholds so they are definitely getting a lot wrong still in 2017
  4. Jolly good - I hope the jurisdiction decision is quick and you get a positive/fair outcome from FOS - its what they are meant to be there for! I would still recommend the Secret Commissions claim to Tesco as a back up, it wont affect your current claim/case to issue one and get it in the pipeline for 29/8/17 (you can also mention it to FOS who may put it in their Secret Commission outcome pipeline). Final comment - it did not become standard to cancel a PPI policy if a claim was upheld or rejected for PPI until 2013/14 so Tesco continuing to charge isn't unusual. They just hoped you would forget about it again and continue to pay! Swine's
  5. Hi Ads_UK Picked up on this one - new to the site and looking to help. Relates to the PPI element. I have two different routes to advise, but first, your current situation. Tesco's proof is the copy of that Final Response - they will have record it was delivered to that address. Proof of the claim being issued becomes irrelevant as, even if they had only written to your g/f outlining she had PPI and inviting her to claim (and she didn't) this would be enough to 3/6 year statute bar the claim as it is over 3 years since she 'knew or reasonably ought to know' she could have complained. I know, its rubbish, but its what's happening, banks wrote to millions of ppl from 2012 onwards and their claims are slowly becoming obsolete by default. Whilst I agree that you should ask them for further proof and pursue this line, from experience this has rarely been successful. FOS will consider claims over 6 months since the final response in exceptional circumstances, what these are is not clear and I knew a girl who worked in the FOS team calling people about these decisions and she reckoned 99% were not considered exceptional. It will be your word against Tesco. They have the letter and record it was sent. You have two Alternative options open to you which are other potential places you can get your money back 1. Secret Commission claim / Plevin This is not related to the first PPI claim, this is new and you should do this REGARDLESS!!! Your claim fits as the account was open after 4/2008 so the CCA stuff related to this applies. Issue a new complaint to Tesco about the fact that they were paid secret commissions on PPI and you were unaware of this and you want the money back (template somewhere probably) They will reply with a holding letter until 29/8/17 when advice on this becomes live. Then, if your premiums had commissions higher than 50% (which they likely will be) they will refund the difference plus contractual interest and 8% simple interest - simples! Its a fraction of what your g/f is entitled to but better than a wet fish to the chops NB. Make sure if they give you an acceptance form to sign that you get some advice first as this element should not stop you pursuing your current line with Tesco/FOS or option 2 (a well worded acceptance form can be the end!...Crafty beggars) Option 2 Second time today - litigate. The final response and all that jazz becomes irrelevant, this is CCA, account was open and paid in the last 6 years so you can do it and use Plevin to boot (but far more effectively than the FCA guidance - this is the LAW! you may get 100% back just on Plevin) You can do this: Directly - if your are confident in your ability to do so Solicitor - If you are not confident - it will cost you but advice is get a No Win No Fee specialist in PPI (Solicitor NOT CMC!) and it reduces the risk You can win your case in court, on your own or supported, and its not big scary court, its small claims and most crumble and pay before a court appearance is needed. This imho only is your most assured option to get your money back in full, with all the contractual interest and 8% simple interest on top (10 years = double the refund as a rule) I hope that helps! Let me know how you get on and best of luck Write a new complaint to Tesco Banks sent our millions of these letters and if three years passes that's its, they will reject and FOS will not consider unless expcetional circumstances
  6. Glad to be on board! I love waffling about PPI, PBA and the rest. Plenty of stuff in my head which is useless in any other setting that might be able to help others - two heads (or on this forum 320,000 heads) are better than one!
  7. No problem happy to help. Yes your Uncle will need to act on behalf of your Father as the executor to check for and claim back PPI, get him started right away to check with any bank your father used had for PPI, paid for current accounts and the kitchen sink. As your father has passed away you may be able to apply for a grant of probate for your mother so you can act on her behalf. Your father was the previous (I assume) executor and the right to act on behalf of your mother does not automatically pass to your uncle. As a next of kin, regardless of if there was a will, you should be able to apply for this for your mother. You will potentially need a solicitor and it may cost you some money to get the Grant of Probate, take a look at the PPI amount on her loan and if that covers it (along with anything else you might find) then its a worthy gamble as it wont be much use for ought else.
  8. PPI is sometimes simple and other times terribly complex. It all depends when you took it and with whom. High street banks = mostly easy street. Sub prime lenders and brokers = potential hurdles and brick walls. Well done on your successes, you can win this one too. If you call the FSCS with your reference (or just personal details if you cant find it) and ask them to resend you the paperwork they will re-open the case (they are never really 'closed' unless a decision is made). FSCS will not pay out as much as a full refund from a bank (directed by FOS or otherwise) will as they pay 90% and the 8% simple interest is replaced with a notional return which is pitiful in comparison. Alternatively they have a new online 'portal' but I don't know about you I prefer a trusty human. The FSCS form does ask you to give details of the loan if it is live, has been refinanced etc. I do not know if it will be restructured and defer to anyone who does - I believe it will be as the lender will have to follow the same rules as if a non FSCS PPI refund had been given and this would seem just. I only have experience of people I know / have helped family etc. Remember, big nasty form, not sure, call them for help and guidance. if in doubt, fill in as best you can and they will let you know if they need more details. Make sure to sign and date the two declarations AND the two forms at the back which allow them to get info on your behalf. Policy number? Call Covea or just stick in the loan number! The key firms here are still trading (lender and underwriter) so you will get that info easily. Best of luck and I'll look out for more questions and progress! New to this site its ace.
  9. Firstly, sorry for the loss of both your parents. As you mother died in testate (without a will) and your father dealt with the estate he was probably appointed executor of the estate / given a Grant of Probate. When your father passed away it now becomes important who dealt with his estate as they can act on his and your mothers behalf. If he left a will and appointed you as executor (or joint executor) then you can certainly claim for both of them. If he also died in testate and no one has yet been appointed executor or given a Grant of Probate then you will have to contact a solicitor (if one was involved then that one) to start that process. Alternatively, if neither has yet to have an executor appointed (more common than you think) then you will need to make steps to get appointed for both. NB. If you have other direct relatives who could also be appointed e.g. sibling they may need to be involved + you may be charged to get the grant of probate etc. gentleman I knew cost him about £400 and was unavoidable As for claiming PPI - don't just draw the line at that one statement/loan!!! Check EVERYTHING You cannot do a DSAR as this only covers the living, however, so long as you are the executor of either estates you can approach any bank or credit provider and ask for details of their accounts and if PPI was present and they will give you what they have on record. When you do so, take the evidence you can act on their behalf (death cert, will, grant of probate, letters of administration) with you as proof - if you issue a PPI complaint provide copies of these with the claim and be prepared to provide certified or originals depending on the bank. I know a man who received close to £50K in PPI refunds when he took the time to get a grant of probate, contact the lenders and issue the claim (his wife was a lifetime NHS employee so no need for PPI cover) - what you get back will depend on what was paid and if it was unsuitable but a great example of perseverance and following simple procedures paying off big time! Best of luck in your endeavours
  10. Indeed they can litigate themselves! It's all about choice. If you feel confident enough to do so then litigate, if not you can use the services of a solicitor but you pay for it - Solicitors, unlike CMCs, have expertise and qualifications which put them in good stead to represent you. Alternatively, avoid altogether and do the FSCS and Secret Commission claims yourself - you certainly don't need to use a CMC or a solicitor for those. To clarify I am not a solicitor or affiliated with one!
  11. Hi thought I could help you out here. Firstly the FOS outcome explanation: Underwriters can only be held responsible for the sale of PPI if the seller at the time was not regulated as they would have been the only regulated party at the time who could be held responsible for the advice (the lender in this trio is not involved in the advice) To further confuse this, they can only be held responsible if there is a direct relationship between them and the seller so with random brokers it usually won't stick, whereas with major sellers it will (i.e. Genworth/AXA for Santander Store cards) I hope this helps make sense of the FOS response. If it had been sold pre 14/1/2005 then you could not have claimed against the in default broker or used the FSCS but the underwriter may have been a valid option. Lucky you it was sold post 14/1/2005 as this gives you two options: 1. The FSCS The forms are a bit of a nightmare but not too complicated. You can call them and they are very helpful, as for ID, if you don't have any then call them and they can arrange verification in another way e.g. over the phone, other ID elements accepted like utility bills. They only do this in exceptional circumstances for vulnerable clients or when you really have no ID. There is a lot of info you might not be able to fill, however, so long as you have the name of the broker, lender (current and original) and underwriter you will be fine. there are two forms at the back of the form which you sign giving the FSCS authority to get the information from them. Alternatively you can jimmy it along by getting it yourself, call the lender and the underwriter and ask them to provide the full account statements and agreement (lender) and a letter stating all the elements of the policy such as cost and claims (underwriter). Once all this is done and signed they will confirm they have what they need and make a decision which can take a few weeks/months - they don't have a timescale If they uphold in your favour you will get back 90% of the premiums and interest and 'notional' interest on your losses - much less than a standard PPI refund from a bank but better than nothing Remember this service is FREE! You have another option... 2. Use a solicitor and litigate Because you are still paying your loan it puts it in range for a solicitor who specialises in claiming PPI. You can find them easily on the internet. Any solicitor worth their salt would be able to litigate against the lender for PPI using the CCA and win your case with 100% returns. Some charge a fee for services, others will change a % of the redress - however the redress will likely be higher as they will get PPI, premiums, interest and 8% compensatory interest (not notional) which, as a rule of thumb, doubles the refund if its 10 years since you took out the PPI. You can, of course, use the FSCS first and then a solicitor to get the rest as the infamous Susan Plevin case demonstrates - the choice is yours, a solicitor may take the pain out of those forms and provide a service to get the money back. To clarify, the win is not guaranteed though so No win No fee is a better option than paying upfront if you choose to use this option. There is a third parallel option you can do regardless which could get you some quicker cash. Complain to the lender about secret commissions, they will put your complaint on hold until guidance goes live on 29/8/17 They will then return the % of the premiums that were over 50% with interest - a smaller refund but as this is a sub prime broker sold loan it could be 20%+ of the value - this refund is all but guaranteed with the current guidance You are complaining to the lender as this is CCA stuff again and the broker/underwriter become irrelevant. PPI regulation also becomes irrelevant (i.e. pre 2005) as this is CCA 1974 Sorry this wasn't meant to be such a long post! If you have any more questions i'll be happy to reply
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