PPI Reclaiming discussion Part III

marshallka

The new Financial Services Ombudsman Scheme will bring together The Banking Ombudsman; The Building Societies Ombudsman; The Investment Ombudsman; The Insurance Ombudsman; The PIA Ombudsman Bureau; The Personal Insurance Arbitration Service; The SFA Complaints Bureau and Arbitration Service; The FSA Independent Investigator. The new Financial Services Ombudman Scheme will be the largest ombudsman scheme in the world. It will have an annual budget of around 15m and employ over 300 staff. The Financial Services and Markets Bill was published by Her Majestys Treasury in July 1998. The Financial Services Ombudsman Scheme will be a company limited by guarantee without share capital. All Board Members are public interest non-executive Directors. The selection process for Board Members included public advertisements and interviews with a selection panel including public interest representatives. The appointment of the Chairman is made by the FSA with the approval of the Treasury. The Board will be holding its first meeting on 1st March 1999.

dreamer33

marshallka wrote: »

If it were a bank Pinknico then yes I would say (you only just became aware!!) as they would have been part of the Banking Ombudsman Scheme which was around before the new Ombudsman... Who was it with pinknico..;)

I think that you only just became aware would not come into this, as the bank keeps you updated with any charges applied and you would have been aware of them.

marshallka

dreamer33 wrote: »

I am certain that you can only claim bank charges going back 6yrs.

What about a credit agreement to do with a Credit card... does this come under the same as the a loan agreement. Its still an agreement...

Tiggrae told us you could not claim on loans over 6 years ago but then we found that if they were part of the old Banking Ombudsman etc then the rules could be applied and also the rule of "only just became aware" too.

I got the FOS to look at mine going back to 1999 although these were single premiums...

marshallka

dreamer33 wrote: »

I think that you only just became aware would not come into this, as the bank keeps you updated with any charges applied and you would have been aware of them.

I think Maxdp would be best to answer this one... didn't she make a credit card one going back further than 6 years....

di3004

marshallka wrote: »

What about a credit agreement to do with a Credit card... does this come under the same as the a loan agreement. Its still an agreement...

I thought it did...... , I still have mine and the adjudicator used this to help make his decision, this showed my CB amount and the part where Lloyds ticked for Unemployment cover yet I was not working....so I had taken it they would use this to back the case as well.
Mine was taken out Jan 2001, does that count or help as the FOS still dealt or still dealing with it, they were under GISC a the time though as well ?
Oh and we're 8 years on now, the FOS dealing with this case 7 years after, okay its with my bank, does that make any difference ?

dreamer33

marshallka wrote: »

What about a credit agreement to do with a Credit card... does this come under the same as the a loan agreement. Its still an agreement...

Its the same with credit card charges sure its only 6yrs as they too have to inform you of any charges, so you would have been aware of them.

Whereas in the case of PPI this has been added without some peoples knowledge.

When you sign a bank account credit agreement you are also agreeing to the T & Cs, however I am aware about the dispute going on at the minute ref unfair contract terms.

dreamer33

marshallka wrote: »

I think Maxdp would be best to answer this one... didn't she make a credit card one going back further than 6 years....

Not sure, but I know I used to compile the list of charges and they were only for 6yrs.

OOOOhhhhhh the cats out the bag:rotfl: :rotfl:

dreamer33

di3004 wrote: »

:eek: , now this is getting very interesting lmao :rotfl: :rotfl: :rotfl: tell us more please dreamer pmsl :rotfl: :rotfl: :rotfl:

LMAO:rotfl: :rotfl: just where I work DI that was all,:rotfl: :rotfl:no its not FP or for a broker lol

di3004

dreamer33 wrote: »

LMAO:rotfl: :rotfl: just where I work DI that was all,:rotfl: :rotfl:

Oops......:o :rotfl: :rotfl: :rotfl: lol X

dreamer33

marshallka wrote: »

Pinknico....

How far back can you go?
Before starting, it's important to see if your claim is valid.

• Did your policy start in the last six years?
  If your policy started in the last six years, whether you're still using it or not: Reclaim and ask your lender for a copy of the paperwork if you no longer have it.
• Is your policy older but still active or ended in the last six years?
  If your policy started over six years ago and you are either still using it, or it ended within the last six years: Reclaim and ask your lender for a copy of the paperwork if you no longer have it. Your chances of success may be reduced if you have been aware of the misselling for some time, you have already complained or your account is very old.
• Is your policy older?
  If your policy ended over six years ago and you have the paperwork: Reclaim, although your chances of success are reduced, as it will depend on what you can remember about the sale.
  If your policy ended over six years ago and you do not have the paperwork: It's unlikely there will be records and unlikely the reclaim will be successful.

This will be why the 6yr rule applies and why you can only go back 6yrs, because companies are only legally obliged to retain info for a period of 6yrs, after which time they destroy it.