How far back can PPI be reclaimed?

[crocodiles]

Here are 5 of my 6 agreements with welcome.

They will hopefully back up my calculations (apart from the 2001 error).

 

have merged them into one small file - dx

croc .pdf

[crocodiles]

A wee update.

 

I think a letter to Welcome is now required.

Any further advice will be most welcome.

Edited June 7, 2011 by dx100uk
remove unnecessary publicity

[dx100uk]

croc

 

i have edited your last posts for obv reasons

 

there is no need to use reclaim co's

 

all the info is here on this site to do it yourself

 

all claims co's take a slice

 

do it yourself

 

get the lot!!

 

dx

[crocodiles]

Hi Dx,

 

Not sure what obv reasons were for but no worries.

 

I'm not sure about the steps I shoud take to get this money back.

If I go through FSCS, my oldest & biggest claims will be ignored.

Same goes for FOS.

I'm unsure about going directly to court due to the sums involved.

When I won against the Halifax a few years ago, It was through small claims.

This is obviously not a small claim.

I'm struggling with the chronology here.

I don't need to send a SAR (although I have done - with no reply)

Do I go straight to an LBA?

If so, what action am I threatening?

Can I go to a Sherrif court instead of a small claims court?

I'm a bit confused.

I'm sure my figures are accurate and I'm confident that I have a right to claim PPI (not so sure about MIF, acceptance fees & insurances just yet), but I just don't know what to do to set the process in motion.

 

Advice will be very welcome.

Edited June 7, 2011 by crocodiles
spelling

[dx100uk]

its an interesting issue with such large sums up for grabs.

 

i'm wondering if giving the FOS a ring or sending an email might not give you 'at least the next best' answer toward moving this forwardi?

 

at least it might clarify things

 

as for the reclaim co's, the edits were done to p'haps not give them any free publicity!

 

dx

[MrZ]

I imagine what you would want to do is start your claims for PPI, the ones you know will be dealt with by the FSCS. You will need to complete their forms for the claims. If you don't have the forms, you can ring the FSCS and request they send them to you. Get the ball rolling on the easy ones. Meanwhile for the PPI claims not handled by the FSCS (Pre 14 Jan 2005), you can tally up the total claim for each individual agreement. Write a letter of claim to Welcome for each one. I wouldn't bother asking for restitutionary interest or anything like that at the moment. You could include a statement asking them to consider 8% simple interest which would be awarded by the Court or FOS in most circumstances. If you have no problem giving them 8 weeks or more to reach a decision, or if you are content to go via the FOS should they not uphold your claim as you feel they should, then a basic letter will suffice.

 

If however you have intentions to go via the court for the claims not handled by the FSCS, then in your letter you should give them 14 days to make a final decision. At the end of the 14 days, if they have not made a decision, or if the decision is not to your satisfaction, then you send a second letter outlining your requirements. Give them a further 14 days to rectify, if not then without further notice to them you will start court action.

 

In between all of this time you can research more and decide if you are comfortable pursuing the claim on your own, or perhaps finding a no win no fee solicitor for the larger claims.

 

Because of the larger sums of money, the time periods involved etc, it may be worth making a few enquiries from solicitors who deal with contract/consumer law. Get a few opinions. If nothing else you should be able to determine if you are going down the right avenue.

 

Claims management companies will do nothing you cant do yourself. Save the money and do it yourself. They will take 25% plus VAT for doing nothing more than what you can do following the advice freely available on this and other forums.

 

There may be some issues for the other larger/outdated claims that may be better dealt with by a solicitor. A no win no fee firm wouldn't be willing to take them on if they feel there is little chance of winning. It never hurts to ask questions.

 

One thing I have learned in my dealings is, its not a quick process. My initial claim with Welcome was made in Nov 2010. I am still waiting on a court date to be issued. From there its likely to be a least another 3 or 4 months before final outcome is reached. I totally expect it to be around a year give or take a month or two before its all said and done. Point is, you have time to work out the best ways forward.

Edited June 7, 2011 by MrZ

[crocodiles]

FSCS are now openly backsliding all enquiries to Welcome customer services team, so no point asking them for impartial advice.

FoS were less useful than the FSCS (who at least confirmed my agreement numbers & amount of PPI sold for each case from 2001 onwards).

My questions were as follows;

Q. Can I pursue all of my claims as one package.

A. No. from 2003-2003, all claims will be handled by FoS. From 2005-present, all claims will be handled by welcome, sorry, "FSCS". All earlier claims will not be investigated at all.

Q. Since I wish to pursue Welcome for all PPI (and other charges) foisted upon me, can I take all of these claims through the court as one claim?

A. FoS can not comment upon any legal proceedings.

Q. If I were to do so, would the court look unkindly upon my case if I have not been seen to go through FSCS A& FoS?

A. Cannot comment upon any legal proceedings.

Q. Is it mandatory to go through FSCS & FoS before resorting to court procedings.

A. It is not mandatory. There is no obligation to use FoS or FSCS, but one cannot use these services and issue legal proceedings as well.

 

It looks like court for me.

But... Does their default status protect them from litigation for pre-2003 cases?

 

Should I send an LBA or a 2nd SAR?

Edited June 7, 2011 by crocodiles
SPELLING

[MrZ]

Read my previous post. I answered all these questions for you

 

The default doesnt limit you from going to court. If they go into administration, a different story.

 

Deal with each (PPI) claim separately.

 

The other charges are separate and need to be dealt with differently.

[crocodiles]

Thanks Mr Z,

 

However, without the interest claim included, the sums of money involved become much smaller.

It's the interest and the timescale that creates the high values.

Without claiming interest, I could claim £8853 in PPI and approx £3.5k for other charges.

I'm not a greedy man but that is quite a drop from £160k.

If there is no chance of winning in court with interest, then so be it but I'll bee seeking out that solicitor very soon.

[MrZ]

I'm not saying you wouldnt claim the interest if you went to court. What I am saying is Welcome are highly unlikely to entertain anything other than the 8% simple interest. Give them the oppertunity to set things right in your letter. IF and WHEN it goes to court, thats when you ask for damages/restitution.

 

Of course in your letters you can state that you will be seeking the award of costs and damages in court, but there is no need to go into what that amount will be. Why let them know your plan/strategy?

 

You know and I know that when you ask for the interest in your claim you will have a very good chance of getting it. Once you make the claim and they then see the amount, you will have the upper hand when negotiating to settle out of court. Do you see what I mean?

[crocodiles]

The penny is slowly dropping, lol.

Thank you so much for your help.

I think the £160k has given me vertigo.

I'm normally a little more analytical than this but my brain has been in a blender since those numbers appeared.

Thank you again.

[MrZ]

Cant blame you I would be dizzy too. This is why I say you should consider professional advise, it would be a shame to get anything less than what you are entitled to!

[crocodiles]

My sentiments exactly!

I'm already looking up local consumer lawyers.

I'll check a few out before deciding.

If I do win this one I hope it opens the floodgates.

I'd like to see Cattles properly rattled.

[crocodiles]

Quick update.

 

Got a letter from Welcome last week in response to my SAR.

They sent me a copy of my most recent agreement only, yet I asked for copies of all agreements, statements and correspondence.

Luckily I have 5 of the 6 originals and obtained the information I was looking for from the 6th via the FSCS, er welcome, helpline.

 

This lunchtime I visited a ''no win no fee' contract law solicitor, whose opening gambit was to ask me how much I was prepared to spend on litigation.

He then advised me that under Scots law, the best I could hope for was the repayment of PPI claimed plus 8% statutory interest.

He finished our meeting by advising me to inform any solicitor I meet of my wish to sue on a NWNF basis as in his opinion no one will touch it.

 

How's that for a confidence booster!

 

Next step is to send an SOC + letter of intent to Welcome for each agreement.

[crocodiles]

footnote....

 

I've just been told that my job is being made redundant, so all help & advice is now doubly welcome!!