PPI Reclaiming Discussion part 4

TORCHWOOD

I had a car finance product with Welcome Finace some time ago, within the time limit though. I provided all the detail to the company, account details, amounts and reasons why I have been mis-sold.

I received their final response rejecting the claim. I completed all the FSA ombudsman paperwork and sent this off.

I have received a reply from them stating this is something they don't deal with and have passed my details onto the Financial Compensation Authority.

I thought that it was upto the Ombudsman to decide if a claim should be upheld? My claim was for a straight mis-selling of PPI on a Hire Purchase Car loan.

Could someone advise what all this means, I am confused? Will I get a result in this or has it been a waste of 12 months time.

Thanks

naominaz

Thanks for all your I'll write another letter and let you know how that goes

all the best

di3004

TORCHWOOD wrote: »

I had a car finance product with Welcome Finace some time ago, within the time limit though. I provided all the detail to the company, account details, amounts and reasons why I have been mis-sold.

I received their final response rejecting the claim. I completed all the FSA ombudsman paperwork and sent this off.

I have received a reply from them stating this is something they don't deal with and have passed my details onto the Financial Compensation Authority.

I thought that it was upto the Ombudsman to decide if a claim should be upheld? My claim was for a straight mis-selling of PPI on a Hire Purchase Car loan.

Could someone advise what all this means, I am confused? Will I get a result in this or has it been a waste of 12 months time.

Thanks

Hi there

It seems that the FOS (financial ombudsman service) cannot deal with your complaint because the year you taken out the finance, Welcome were not regulated or governed then by GISC, where the FSA taken over in Jan 2005.

Then what they do is suggest other avenues for you.

I am a little baffled on whom they said they passed your details on to, do you mean the Financial Compensation scheme? (FSCS)?

Sorry if I have mis read, if you could post back with further info on this then maybe we can give you more of an idea of what is what.;)

Thank you.

kayjayzed

I'm new to posting on this Forum, although I have used it to successfully claim PPI from LloydsTSB.

I am now writing to ask about advice on claiming PPI from Tesco Insurance that I took out in 2000 and repaid in 2005 and I still have the loan agreement. The only difference is that I became redundant in 2001 and had a successful claim for payment of my loan whilst I was looking for work for about 11 months. The reason I was wondering if I would be entitled to any compensation is because when I took out the loan I did not realise that it would only cover my payments for up to 12 months if I was made redundant and not the remaining term of the loan. Also I paid a single premium at the beginning of the loan for PPI.

Please could you advise if it would worth putting a claim through and how I should go about it.

amersall

kayjayzed wrote: »

I'm new to posting on this Forum, although I have used it to successfully claim PPI from LloydsTSB.

I am now writing to ask about advice on claiming PPI from Tesco Insurance that I took out in 2000 and repaid in 2005 and I still have the loan agreement. The only difference is that I became redundant in 2001 and had a successful claim for payment of my loan whilst I was looking for work for about 11 months. The reason I was wondering if I would be entitled to any compensation is because when I took out the loan I did not realise that it would only cover my payments for up to 12 months if I was made redundant and not the remaining term of the loan. Also I paid a single premium at the beginning of the loan for PPI.

Please could you advise if it would worth putting a claim through and how I should go about it.

hi there, not 100% sure about this, but i would imagine that as you made a claim on this and had 11 loan payments made that the ppi was fit for purpose, i think (not too sure) but unemployment on any ppi is only for 12 months, you may struggle with this argument though, i would give fos a ring and ask about the front loaded part , you may just be lucky.Unless someone posts to correct me who maybe knows more about this

di3004

kayjayzed wrote: »

I'm new to posting on this Forum, although I have used it to successfully claim PPI from LloydsTSB.

I am now writing to ask about advice on claiming PPI from Tesco Insurance that I took out in 2000 and repaid in 2005 and I still have the loan agreement. The only difference is that I became redundant in 2001 and had a successful claim for payment of my loan whilst I was looking for work for about 11 months. The reason I was wondering if I would be entitled to any compensation is because when I took out the loan I did not realise that it would only cover my payments for up to 12 months if I was made redundant and not the remaining term of the loan. Also I paid a single premium at the beginning of the loan for PPI.

Please could you advise if it would worth putting a claim through and how I should go about it.

Hi and welcome

And yes you can still make a reclaim.
If successful your refund will just be reduced of what they have awarded you of a ppi claim.

So there is no harm in giving it a go.

More details on the guidelines of reclaiming, with a questionnaire stage one to send to the ones involved, the questionnaires are quite recent and issued by the FOS, keep copies as well in case you need to refer to them at a later date.;)
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Good luck, please keep us posted.

amersall

di3004 wrote: »

Hi and welcome

And yes you can still make a reclaim.
If successful your refund will just be reduced of what they have awarded you of a ppi claim.

So there is no harm in giving it a go.

More details on the guidelines of reclaiming, with a questionnaire stage one to send to the ones involved, the questionnaires are quite recent and issued by the FOS, keep copies as well in case you need to refer to them at a later date.;)
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Good luck, please keep us posted.

cheers di, i knew someone would know, i never thought about the ppi used being taken off if you win, ta for that xx you learn something new everyday!!

amersall

http://www.moneysavingexpert.com/news/reclaim/2010/05/financial-ombudsman-warning-over-expensive-claims-management-firms

di3004

amersall wrote: »

cheers di, i knew someone would know, i never thought about the ppi used being taken off if you win, ta for that xx you learn something new everyday!!

Hi hun, that's okay.:A;)

It did not used to be the case though I don't think, but I am aware you can reclaim now even if a claim have already been made, for instance it may protect you for one thing and not another.:)XX

kayjayzed

Hi again,

Thanks for your very helpful advice. I will complete the questionnaire and keep you posted of how it's going.