Ah, the consumer penny drops at last.(posted 8143 days ago)Remember, knowledge is power, power is knowledge. The DPA is all about the consumer finally getting their rights and stopping the misuse of power by banks and the like.
The DPA is THE best law to ever come out of the UK legal system. It protects consumers, it is the ONLY UK act that actually states that you are entitled to compensation if your rights are violated. (But the route to compensation is a bit tortuous and maybe costly as well)
Here is a thought; If the MIG policies are indeed as described above, and the shortfall debt is reduced as a result, and by taking this DPA tack you are able to obtain a copy of the elusive MIG policy.... does this mean that everybody who has settled in the past, for whatever amount, can now ask for a copy of their MIG policy and then demand a refund?
They would also, if they have served a SARN on their bank/BS in the past, be able to submit an assessment request to the IC complaining that a copy of the MIG policy document was not supplied within 40 days. They have therefore suffered financial loss & distress as a result of this violation of their rights. If the IC upheld this complaint then they would be entitled to a refund of settlement monies paid, plus compensation for losses & distress.
Ahhhh, lots & lots of little IC pennies just dropped.
Good Luck.