PPI Reclaiming Discussion part 4

odd_socks

Trevor112 wrote: »

Hi Everyone,

I took out a loan with Central Trust in 2003 over a 10 year period, which included PPI.

I was self employed at the time, but it was never explained that I would not be able to claim due to my employment status.

My business ceased trading in 2006 and I took up full time employment, however, I was made redundant in 2009, I contacted Central Trust to enquire about a claim.

I was told (to my surprise) that my cover was only valid for the fist 5 years and had now expired. I told them that I was still paying the policy, the answer.... well most people would have taken out loans to pay off existing ones, and started the 5 years period again.

Well, not me, I wanted to claim, but was refused on the '5 year rule'.

After finding this site, I sent off the ombudsman form to Central Trust, after a week, I received a letter basically saying 'tough' and I cannot do a thing about it as they were not regulated by the FSA or GISC at the time the loan was taken out, they also quote the Limitation act of 1980 and is therefore 'time barred'. They also state that it is not there intention to respond any further.

Anyone else had any dealings with this company? Any success or failure stories?

I am passing this on to the obudsman, I will let you know the result.

Regards


Trevor :mad:

Hang five i am sure someone on here will be able to give you some advice on this one.

Sorry i can't help,i just started claiming myself and i am at the early stages

di3004

Trevor112 wrote: »

Hi Everyone,

I took out a loan with Central Trust in 2003 over a 10 year period, which included PPI.

I was self employed at the time, but it was never explained that I would not be able to claim due to my employment status.

My business ceased trading in 2006 and I took up full time employment, however, I was made redundant in 2009, I contacted Central Trust to enquire about a claim.

I was told (to my surprise) that my cover was only valid for the fist 5 years and had now expired. I told them that I was still paying the policy, the answer.... well most people would have taken out loans to pay off existing ones, and started the 5 years period again.

Well, not me, I wanted to claim, but was refused on the '5 year rule'.

After finding this site, I sent off the ombudsman form to Central Trust, after a week, I received a letter basically saying 'tough' and I cannot do a thing about it as they were not regulated by the FSA or GISC at the time the loan was taken out, they also quote the Limitation act of 1980 and is therefore 'time barred'. They also state that it is not there intention to respond any further.

Anyone else had any dealings with this company? Any success or failure stories?

I am passing this on to the obudsman, I will let you know the result.

Regards


Trevor :mad:

Hi Trevor

You have a good case as well, shame they were not regulated by FSA etc, but I have been in the same position, and the FOS have otherwise suggested the insurer of the loan instead, they would have been regulated.

So what you do is contact the query line with the FOS, and ask them on your next best direction from here myself and others have ours being dealt with through the insurer/underwriter as another direction on trying to get back our money.
So give them a ring and get back to us, we can take it from there, good luck.

di3004

odd_socks wrote: »

Could you picture it though

Yes I can, because your from Wales pmsl :rotfl::rotfl::rotfl::T:D

h0pusp0pus

thats really strange as on my abbey credit card statments each month ri8ght acrossthe top in big blue writing is mbna?? do you think mbna are under santander as well??

di3004

h0pusp0pus wrote: »

thats really strange as on my abbey credit card statments each month ri8ght acrossthe top in big blue writing is mbna?? do you think mbna are under santander as well??

It does sound that way doesn't it?

odd_socks

di3004 wrote: »

Yes I can, because your from Wales pmsl :rotfl::rotfl::rotfl::T:D

:o:o:o

LMAO :rotfl::rotfl::rotfl:

Mikey1414

Hello,
I don't know about everyone else on the site, however whilst appreciating FOS's position - Iam totally frustrated by the length of time taken to process our PPI claims - I have one now outstanding a year (I appreciate many here waiting much longer) - with no resolution in site - I am intending to refer to the BBC/my Member Of Parliament (MP) so that they can investigate further. I urge you all to do the same. Mike.

di3004

Mikey1414 wrote: »

Hello,
I don't know about everyone else on the site, however whilst appreciating FOS's position - Iam totally frustrated by the length of time taken to process our PPI claims - I have one now outstanding a year (I appreciate many here waiting much longer) - with no resolution in site - I am intending to refer to the BBC/my Member Of Parliament (MP) so that they can investigate further. I urge you all to do the same. Mike.

Hi there

Wishing you the best of luck and hope you hear of a good outcome soon.;)

h0pusp0pus

morning everyone

right ok so ive had 2 letters this morning one from mbna with regards to my abbey credit card they are going to investigate and get back to me in 4 weeks and one from santander regards my burtons mens wear car confirming my complaint and that they will get back to me within 28 days , so just waiting to hear from hsbc now lets hope we all get a quick outcome now that they have got the ball rolling on this and i hope you all get a lovely big fat cheque though your letter box soon

Fortuna1

What a fantastic morning!

After being an avid reader of this forum I decided to chance my luck on an old loan agreement I found languishing at the back of my filing cabinet. I took out a loan with Alliance and Leicester back in 1999 over 5 years that included PPI of £1453.80. At the time I was completely broke and when I was told over the phone that I stood more chance of being approved if I took out the PPI, in desperation I agreed.

Thankfully, being a very sad filer of paperwork, I found the original agreement and I sent a copy of this to Santander along with the questionairre and a letter on the 10th May (yes, two weeks ago!)

This morning I received a letter back from them telling me that 'After considering the available information, we have not been able to establish whether you were provided with sufficient details to allow you to make an informed decision when this policy was taken out. We would like to offer £2554.81 as a refund, including interest, of all the premiums paid for the PPI element of the loan.' That's all the payments plus £1101.01 in interest from June 1999 to May 31st 2011!

Hooray......Keep the faith people! The money will be in my bank within two weeks - that's a month since I wrote the original letter!

Good luck Ya' All!

For your info, I sent the letter to

PPi Complaints Team
PO Box 6197
Milton Keynes
MK10
1UY