Help needed Bank have replyed to PPI

loulou1972

Hi
Can someone advise me
I took out a loan with LLoyds bank in 2002 for £7k which ended in 2004.

They have rejected my claim for PPI refund quoting the FOS quidelines stating under section2.3 time limits for referal of complaint to the FOS disp 2.3.1 (1) (c).

I was of the understanding that if the policy ended in the last 6 years i could make a complaint. Am I right?

DO i let this go or what do i write?

Also when i cancelled that loan i took another one consolidating my debts in 2004.

They have written in the letter they want me to give details of the discussion with the seller and detail why i decided to purchase the policy.

They have incuded a copy of the loan agreement and it had a yes no box for payment protection but this was already ticked by the pc...

Is this the scary letter telling me to get lost Martin was talking about.

What do i do next??

HELP!!!!!!!!!!

Lou

marshallka

loulou1972 wrote: »

Hi
Can someone advise me
I took out a loan with LLoyds bank in 2002 for £7k which ended in 2004.

They have rejected my claim for PPI refund quoting the FOS quidelines stating under section2.3 time limits for referal of complaint to the FOS disp 2.3.1 (1) (c).

I was of the understanding that if the policy ended in the last 6 years i could make a complaint. Am I right?

DO i let this go or what do i write?

Also when i cancelled that loan i took another one consolidating my debts in 2004.

They have written in the letter they want me to give details of the discussion with the seller and detail why i decided to purchase the policy.

They have incuded a copy of the loan agreement and it had a yes no box for payment protection but this was already ticked by the pc...

Is this the scary letter telling me to get lost Martin was talking about.

What do i do next??

HELP!!!!!!!!!!

Lou

If you have been told that you cannot claim to the Ombudsman as this is out of date then this is not true. If you only became aware then you can. Have they sent you a final response to this.

di3004

I agree Marshallka as LLoyds were covered by GISC before the FSA taken over.;)

maxdp

Isn't it also 6 years from when the loan finished that they have to keep the paperwork and/or 6 years from when you first noticed it. Can somebody confirm this please

marshallka

From what i am led to believe they have to keep paperwork for 6 years from when a loan etc is finished. However, in order to get a copy of an agreement (fully signed etc) you would only be able to do this using a SAR request as once an account is finished then they have no need to supply this to you under the CCA section 77/78. Usually though this is supplied within the SAR.

3) Subsection (1) does not apply to—
(a) an agreement under which no sum is, or will or may become, payable by the
debtor, or

As regard the six years from when you first noticed. I assume you mean for making a complaint. This can be overuled by both the FOS and also the courts. The courts would be under section 32 limitations act I think and this is also how FOS look at it too. It would be a case of "only just became aware of the complaint" but on saying that, the firm has to be within FOS's jurisdiction too. Being either a bank as most would fall under the old banking ombudsman or a member of the GISC too.

loulou1972

Hi Marshallka and everyone else

No i haven't replyied yet because the letter sort of scared me. so what shall i write??
I have only just become aware of the ppi issues now??

Any info would be excellent.

Thanks

Lou

maxdp

That is what I am finding confusing cause if a loan was settled say seven years ago and you claim that you have only just been make aware that you were miss-sold then they would not have to have the paperwork still stored, would they? So you could not get copies and could not prove either way.

It seems to be a grey area.

maxdp

loulou1972 wrote: »

Hi Marshallka and everyone else

No i haven't replyied yet because the letter sort of scared me. so what shall i write??
I have only just become aware of the ppi issues now??

Any info would be excellent.

Thanks

Lou

Lou am sure Marshallka will come back to carry on with this.

Please do not be scared of the letter. That is the reason lots of people do not take it forward. You are on here with lots of people who can help and /or support you.
They are going to write bolshy letters to you because they want to try and put you off.

Good Luck am sure it will be fine.;)

loulou1972

thanks it's nice to know i've got support:T

marshallka

Loulou, where they state the disp 2.3.1 (1) (c) this is from the rule book of taking complaints to the FOS and unless you actually work in that field is probably the wrong thing to have put. (just scare tactics). I have found the rules here....


http://www.fsa.gov.uk/pubs/hb-releases/rel31/rel31disp.pdf


The one they have quoted you is



c)

more than six years after the event complained of or (if later)

more than three years from the date on which he became
aware (or ought reasonably to have become aware) that he had
cause for complaint, unless he has referred the complaint to
the firm or VJ participant or to the Ombudsman within that
period and has a written acknowledgement or some other

record of the complaint having been received

I would just take it to the FOS and see.



Did you actually make the complaint some time ago to them???

Just a thought


Why can't they use plain english......

loulou1972

Marshallka

So just cut out sending the 2nd letter and do the FOS letter instead??

What about the other loan and wanting to know about the conversation with the seller and why i felt mis-sold?

No 3 weeks ago after seeing it on this website.. are they having me on??