Your Money Claim Avis 

Réponse de Your Money Claim

11 juin 2020

Thank you for your email.

You asked us to look into two separate lenders.

The £24,000 loan you state was confirmed to have not had PPI added to it, so for obvious reasons there could not be any PPI compensation if there was no PPI sold.

You were advised of this via email and SMS text message on 14th June 2019 and raised no concerns about this at the time.

The offer you have received is related to a charge card account, which is a form of rolling credit.

On such agreements PPI is charged at a percentage of the balance each month, meaning if there is no balance there would be no PPI charged.

As you generally ran the credit facility without a balance, or cleared the balance each month, you were very rarely charged any PPI premiums and when you did the charges were very small.

Therefore, having only been charged £6.50 in PPI premiums on the card, we would consider the offer of compensation, which has been calculated in accordance with regulatory guidelines, is fair.

Indeed, the offer of compensation is 250% of what you actually paid in PPI premiums.

We are unsure what level of compensation you would expect having only paid £6.50 in PPI.

Should you wish to challenge the offer of compensation you are able to do so, but as it has been calculated correctly and fairly we would not consider there to be any reasonable or lawful reason why you would be due any more compensation based on the clear facts.

We encourage customers to read and understand information, updates and correspondence that is sent to them, and to contact us if they are unsure about anything.

Réponse de Your Money Claim

28 mai 2020

Thank you for your review.

When you completed your claim pack you were unable to provide any evidence that you had been sold PPI, and nor were you able to supply any account numbers.

This is not uncommon, given the potential passage of time since customers took out their credit agreements.

However, as this was the case, we have a regulatory obligation to make every effort to establish whether or not you had been sold PPI on your credit agreement(s) prior to then building a case for compensation.

We obtained confirmation that you had been sold PPI in January 2019 and advised you of this.

With the evidence to hand we built a solid case for you to be compensation, and requested that you supply a letter of authority in order to allow us to submit the case to the bank.

We chased the bank regarding matters shortly thereafter, and the bank claimed it had not received the case.

You were advised of this and we sent out another letter of authority to you, which was received in late March, and your case was submitted on the following day via recorded delivery, which was signed for by the bank.

We again chased the bank regarding matters, who again stated it had not received the case.

We responded to the bank, making it aware that it had signed for the case. Again, you were advised of this.

The bank, now knowing it had signed for the case, broke its usual protocol by requesting the case via email, which was sent to them on the same day.

In the lead up to the PPI deadline banks received an unprecedented surge in complaints, resulting in huge backlogs, which they are still suffering from even now.

We accept there have been delays and repeat requests in this case, but I trust the above explanation will serve to show that all delays and issues were as a result of errors, delays and poor processing by your bank.

Nevertheless, the case that was built and submitted by us, on your behalf, resulted in an offer of compensation which included additional interest up to and beyond the date of the compensation award, thus.

You were kept updated throughout via regular emails and SMS text messages.

Réponse de Your Money Claim

30 mars 2020

Thank you for your review.

When you entered into the terms of engagement, you agreed to provide documents or information requested within a timely manner.

We asked that you complete a short questionnaire by clicking on a link within an email and SMS text message we sent to you. This questionnaire would assist in determining whether you had a potential case. The questionnaire generally takes 1-2 minutes to complete.

We then sent a total of SIXTY FOUR REMINDERS over a period of SEVEN MONTHS before you completed the questionnaire.

As you took this long we then had to obtain a new letter of authority from you as the initial one would have been considered to have expired by your bank.

We built and filed your case, which resulted in a successful offer of compensation within six weeks of it being received by your bank, which is less than the eight weeks your bank had to investigate this type of claim.

There have been no delays caused by us.

Likewise, there were no delays caused by your bank.

The only delays were caused by you.

Nevertheless, we trust you are satisfied with the 100% success, which would have been with you much sooner had you completed the short questionnaire in the 1-2 minutes expected, rather than the seven months it took.

We encourage customers to read and understand information and messages that are sent to them, and to contact the office if they are unsure about anything.

Réponse de Your Money Claim

28 mars 2020

Thank you for your review.

As you are aware, you approached us to act on your behalf shortly before the PPI deadline.

You were unable to provide any evidence that you had been sold PPI, which is more than understandable.

However, this meant that we first had to make the relevant checks with your finance providers to see whether you had been sold PPI.

Upon receiving confirmation that you had been sold PPI we built a case for compensation and submitted it with your bank.

We notified you on a number of occasions that your bank may attempt to contact you to discuss the matter, but that we recommended that if this happened you politely reminded them that we were acting on your behalf.

We notified you that due to the number of last minute PPI claims being submitted to all banks that there would be a delay. It is unfortunate that banks failed to put in place the appropriate measures to ensure they could handle the last minute surge, but trust you will agree that these delays are due to the banks alone, and not us.

Once the claim was submitted to the bank you called us once to say that you had received a letter from the bank asking that you confirm your personal details, which was sent as your address is different now to the address you resided at when you had the credit facility with your bank, and you called once more to confirm you were returning an authority form we had sent. No other calls were made by you once the claim had been submitted to your bank..

There has been no reason to make contact with you via telephone during the process of the case as you have been kept updated throughout via a total of twelve emails and SMS text messages.

We did contact you via telephone upon receipt of the offer of compensation, in order to explain how the substantial offer of compensation had been calculated.

It is perhaps of interest to note that we managed to obtain an offer of compensation that was more than double the amount of PPI and interest payments you actually made. It was also important that we contacted you to explain the tax deduction that the bank automatically makes, and how this may be able to be recovered.

You have raised a point in respect of the fee which does surprise us, given it suggests you did not read the terms of engagement prior to signing to confirm you had read the terms of engagement. The terms of engagement clearly explains the fee.

Finally, we can confirm that you made no other telephone calls to us regarding the claim once it had been submitted, and we have also now had confirmation that you did not speak with the bank in respect of progressing the case or having any input into the case itself.

Nevertheless, we trust you are satisfied with the 100% success, and the award which was double the amount you paid in PPI and interest.

We encourage customers to read and understand information and updates that are sent to them, and to contact us if they are unsure about anything.

We would kindly suggest you review the reviews made either side of yours, which appear to be from customers that did read and understand the terms and updates provided regularly.