Payplan and PPI

[Rich]

I have the email address for the senior compliance offcer, who seems very good so I will email her thanks for the advice as usual Rich x

[Gemma Burton]

Just to clarify, not replying to the letters or phone calls will not hold up completion certificates. This is completely optional and you should only reply if you believe you were missold PPI.

[Rich]

Thanks Gemma for that

[Niobe]

We've had EIF on the phone this morning asking why we hadn't sent the forms back (I have actually posted them today with No PPI written across them).

I told the man on the phone that I'd never taken out PPI and apart from him sounding a bit incredulous that I hadn't, he accepted what I had said and was going to update the computer systems. I told him about Kallis as well and he promised to update her record.

We'll see what happens!!

[TigerTiger]

Gemma, you say that it's ok to charge a 40% fee for reclaiming PPI because it's the creditors who will be out of pocket in the context of an IVA. This is the same argument that used to be used by IVA companies when they claimed it's the creditors that pay the IVA fees themselves.The Advertising Standards Authority put a stop to that argument as they said that in the event of an IVA failing, only the customer would have paid the fees and the outstanding balances would reflect that. In the case of PPI fees, clearly the balances outstanding in the event of the IVA failing will be much higher than they would have been had a much more reasonable fee been taken or , ideally, no fee at all.It seems to me Payplan is misleading its customers if they support the line you're taking on this.

[TigerTiger]

Gemma, I'd also like to know, if possible, why Payplan's IVA customers are being charged 40% when the Claims company you've set up ( Stake Your Claim ) is charging Payplan debt management customers 10%. Why the dual pricing ? Where's the transparency in all this ?

[TigerTiger]

Gemma, Payplan's claims company ( Stake Your Claim ) say that where a PPI claim just reduces the balance owing and doesn't return any cash to the customer,the fees owing to them can be included in their DMP with Payplan - effectively making Payplan a creditor in the same DMP they are supposed to be administering. How is this consistent with OFT Guidelines and how , in such circumstances, can Payplan's advice be considered impartial ?

[TigerTiger]

Gemma, why is Payplan ignoring Ministry of Justice advice to anyone in a DMP that they should avoid using fee-charging claims companies ? They've seen the problems you're busy creating.Payplan generates millions for its shareholders - do you really need to do this ?

[TigerTiger]

Gemma, I see Payplan are asking for donations to keep their local Foodbank going. Is this just to give the impression of caring ? If not, why doesn't Payplan fund it properly from its loose change ?

[TigerTiger]

Gemma, I see Payplan are asking for donations to keep their local Foodbank going. Is this just to give the impression of caring ? If not, why doesn't Payplan fund it properly from its loose change ?

[TigerTiger]

Gemma, since Payplan are on the working group negotiating a Debt Management Protocol and discussing issues like best advice, overcharging and transparency, how does that square with its own policies on treating customers fairly ? Should Payplan not either re-think its claims 'service' or resign from the working group before undermining its credibility ?

[Michael Peoples]

Hi Tiger. You don't seem to be getting much of a response to your questions. Either Payplan have not seen your posts or they don't like them.

[TigerTiger]

Michael - ironic isn't it since it was Payplan started the thread . Maybe they're dizzy from all the spin they usually dish out.There are, however, serious issues raised - not least whether its appropriate for a company like Payplan to continue having influence on the Protocol discussions.

[Michael Peoples]

Fair points and Payplan should come on and answer them.

[Tina Shortland]

From all the fair questions you have asked TigerTiger they may be formulating a response to address them all in one response so maybe giving a little breathing space for them to catch up may give them chance. Either way hope you get a response.