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Banks Face Fresh Wave Of Ppi Compensation Claims After Landmark Ruling

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http://www.independent.co.uk/money/banks-face-fresh-wave-of-ppi-compensation-claims-after-landmark-ruling-10279243.html

The City Watchdog could be forced to introduce new rules around PPI mis-selling complaints following a landmark court ruling.

It could open the door to a landslide of fresh claims for compensation, even for those who have already been paid out for being flogged the often useless and expensive insurance.

The latest wrinkle to the scandal – which has already cost Britain’s banks an estimated £24 billion – centres on commission payments to lenders and advisers.

In November the Supreme Court ruled in the Plevin v Paragon case that failing to disclose commission made the relationship between lender and borrower unfair.

PPI the economic boost that can never end. I wonder how much these payments have boosted consumption and more importantly fresh lending for the banks?

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http://www.independent.co.uk/money/banks-face-fresh-wave-of-ppi-compensation-claims-after-landmark-ruling-10279243.html

PPI the economic boost that can never end. I wonder how much these payments have boosted consumption and more importantly fresh lending for the banks?

Plan A: the stealth fiscal stimulus that never ends.

A fat chunk of the PPI cash has been leveraged into the autoloan industry, that much we do know. Since Osborne's 'GDP recovery' is essentially dependent on driving household borrowing to an all-time record high, I guess he's hoping the British public will respond in a similar pavlovian fashion in this parliament.

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F**k me

The view which a court takes of the fairness or unfairness of a debtor-creditor relationship may legitimately be influenced by the standard of commercial conduct reasonably to be expected of the creditor.

Source: http://goughsq.co.uk/wp-content/uploads/2014/11/Paragon-v-Plevin-uksc.pdf

I don't know shit all about the law but when the Supreme Court uses language like this to overrule the Court of Appeal...

7fa6b0be9d5614e6e8aa57089f47c718ec462a46

To stormymonday_2011's main point, indeed - I predict automated calls. Lots of them.

Edited by bland unsight

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F*ck it.

This will be the cue for another deluge of PPI cold calling.

I even get the wretched things on my on-call work phone

If you have a smart phone, you can run apps which block such calls. They use crowdsourced data (ie our reports) to very quickly spread the numbers of scumsters among the users. In the past these companies could get away with keeping their numbers for a few weeks. That doesn't work when you're up again these apps :)

There is no need for you to suffer!

The main one I use is called "Mr Number". I like it particularly because it's very configurable. The option to "block" can be either "hang up" (ie answer call at the start of the first ring - you barely hear anything! - and then hang up on them, so an operator knows you're on to them), or "send to voicemail". And you can add either individual numbers, ranges, or types to each of those two. Eg I hang up on all 0843 numbers, but for Withheld scum I send them to voicemail, just in case it's someone genuine who doesn't yet understand that it's incredibly rude to call withheld (akin to banging hard on my front door whilst simultaneously covering over the spyhole with their finger). It's over 20 years since the introduction of CLI in the UK, plenty of time for all those broken switchboards to be fixed (the ones where they claim they can't stop it withholding outgoing CLI - real reason is they haven't heard of Presentation Numbers and think that withholding is the answer).

http://www.wikihow.com/Use-the-Mr.-Number-App

http://uk.pcmag.com/android-apps-reviews-news-tips/530/review/mr-number-block-calls-texts-for-android

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If you have a smart phone, you can run apps which block such calls. They use crowdsourced data (ie our reports) to very quickly spread the numbers of scumsters among the users. In the past these companies could get away with keeping their numbers for a few weeks. That doesn't work when you're up again these apps :)

There is no need for you to suffer!

The main one I use is called "Mr Number". I like it particularly because it's very configurable. The option to "block" can be either "hang up" (ie answer call at the start of the first ring - you barely hear anything! - and then hang up on them, so an operator knows you're on to them), or "send to voicemail". And you can add either individual numbers, ranges, or types to each of those two. Eg I hang up on all 0843 numbers, but for Withheld scum I send them to voicemail, just in case it's someone genuine who doesn't yet understand that it's incredibly rude to call withheld (akin to banging hard on my front door whilst simultaneously covering over the spyhole with their finger). It's over 20 years since the introduction of CLI in the UK, plenty of time for all those broken switchboards to be fixed (the ones where they claim they can't stop it withholding outgoing CLI - real reason is they haven't heard of Presentation Numbers and think that withholding is the answer).

http://www.wikihow.com/Use-the-Mr.-Number-App

http://uk.pcmag.com/android-apps-reviews-news-tips/530/review/mr-number-block-calls-texts-for-android

Thanks for the tip.

Sadly the on-call phone provided by my employer is an old Nokia E51 running Symbian. In addition most of my call outs are automated message alerts from computers which appear at first glance similar to many PPI texts right down to the number being withheld.

Quite how the PPI cold callers got the number is beyond me as I don't use it outside work.

Edited by stormymonday_2011

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Plan A: the stealth fiscal stimulus that never ends.

A fat chunk of the PPI cash has been leveraged into the autoloan industry, that much we do know. Since Osborne's 'GDP recovery' is essentially dependent on driving household borrowing to an all-time record high, I guess he's hoping the British public will respond in a similar pavlovian fashion in this parliament.

Plus he claws back 20% VAT up front on PCP auto sales even if it (mostly) keeps germans in a job.

Everybodys happy.

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