Help needed Bank have replyed to PPI

marshallka

loulou1972 wrote: »

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?

Oh sorry, I thought they had sent the final response.

You need to get a final response from them before you can take this to the OMbudsman though so you need to reply and reiterate your complaint to them and then take this to the FOS. If they are asking you about the conversation can you remember any of it. If you feel you need some back up you can always request a SAR from them but again this is going to take 40 days to supply it and will hold up your complaint. I would just say if you did not want the PPI and were not given a choice or whatever your reasons were in the first letter and state them again.

loulou1972

oh will pen a good letter on Monday

thanks for your help your a star.

marshallka

maxdp wrote: »

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.

I don't know that bit myself. I think that they only have to legally keep records for 6 years but I got my records from the bank going back further than that. I suppose some legal person would know but not being one myself I would not. If you send off the SAR then its 6 years and the CCA request is only if the loan is still outstanding. I am sure that someone on here will post with the correct info. I suppose it would all depend on if YOU had the info yourself. Some people have the info stashed up their lofts and forget all about it......... proof of claims etc...I was lucky with one of mine as I had the paperwork and my bank did not.

Martins guide says here

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.

maxdp

marshallka wrote: »

I don't know that bit myself. I think that they only have to legally keep records for 6 years but I got my records from the bank going back further than that. I suppose some legal person would know but not being one myself I would not. If you send off the SAR then its 6 years and the CCA request is only if the loan is still outstanding. I am sure that someone on here will post with the correct info. I suppose it would all depend on if YOU had the info yourself. Some people have the info stashed up their lofts and forget all about it......... proof of claims etc...I was lucky with one of mine as I had the paperwork and my bank did not.

Martins guide says here

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.

Hmm it is a grey area then really. That is what is confusing cause they say from when you were aware that you had a complaint. Only if you kept the paperwork in your loft could it be used.

Firms are not obliged to keep the paperwork for that long, although they used to keep info on microfiche, nowadays obviously discs etc.

Some lenders keep their info a lot longer than others.

Thanks for the info

marshallka

maxdp wrote: »

Hmm it is a grey area then really. That is what is confusing cause they say from when you were aware that you had a complaint. Only if you kept the paperwork in your loft could it be used.

Firms are not obliged to keep the paperwork for that long, although they used to keep info on microfiche, nowadays obviously discs etc.

Some lenders keep their info a lot longer than others.

Thanks for the info

Don't thank me for the info. I have none of solid evidence. I only know what I learn from here. A lawyer would know or something like that. I am not one and don't claim to be either. Was just trying to help.

If anyone knows otherwise then please would they post. lol

maxdp

Am sure will hear if that not right.

marshallka

maxdp wrote: »

Am sure will hear if that not right.

Can't wait for this one then. Perhaps martin can update the guide then too.:D Although the SAR i used actually asked for info on microfiche too. It was different to the one that was on here.:D

Lots of info here about it if you want to read.

http://www.ico.gov.uk/upload/documents/library/data_protection/detailed_specialist_guides/what_is_data_for_the_purposes_of_the_dpa.pdf

marshallka

I queried this in some posts and posted this some time ago

Q: How long should organisations keep data for? The Data Protection Act says that information should be kept for no longer than is necessary. The Act does not specify what a ‘necessary’ period should be for particular information. Each case would be considered on its own merits. If an organisation is obliged to retain data for a given length of time under any other laws, this should be taken into consideration.
For example, financial institutes may have to keep some information for up to six years in accordance with the Financial Services Authority regulations. A sole trader, however, may not need to keep information for longer than a month.


I sent a letter of complaint to the ICO too about this and was told that if my firm did not have the information then there was nothing I could do.

I also got told that "they would not want to incriminate themselves would they" regarding Firstplus. I never got a reply to my complaint and it was over 10 months ago.



http://www.opsi.gov.uk/acts/acts1998/ukpga_19980029_en_1

marshallka

maxdp wrote: »

Hmm it is a grey area then really. That is what is confusing cause they say from when you were aware that you had a complaint. Only if you kept the paperwork in your loft could it be used.

Firms are not obliged to keep the paperwork for that long, although they used to keep info on microfiche, nowadays obviously discs etc.

Some lenders keep their info a lot longer than others.

Thanks for the info

Just found a debate here from petermb and tiggrae

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Quote:
Originally Posted by petermb
I dont think that lenders have to destroy documentation. Many do destroy the paperwork but then keep a copy on microfiche or tape. It does not surprise me if they do destroy it. Some just lose information anyway. I think you will find they have to keep records for seven years regarding inland revenue purposes.

Hi that's correct it's 6 years + the current year for Inland Revenue and 7 years for VAT purposes




Also tron-ess too

Originally Posted by Tron_ess
If the Loan is still going then they should keep details of the loan. What they may not have to keep is details of all insurance if that has expired / cancelled etc. This is where it can get messy - especially if your dealing with lenders and brokers.
For most lenders though - the reality is, is if they have your loan / credit agreement records... any accompanying insurance records are likely to still be with it - especially for single premium products as technically you take a "PPI" Loan in order to pay for this. In my experience very few firms legitimetely don't have those records. Its normally that they can't locate them, because until recently many has very poor records management proceedures...so they try their utmost to get out of things and drag things out. If things go to court and they can't reproduce contractual documentation - their chances can be slim. For Credit Agreements - unless they can produce an executed credit agreement - they'd have trouble enforcing it.


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Quote:
Originally Posted by tiggrae
you can make a claim in the court for any time limit - however, if over 6 years the defendant can request the claim be dismissed as it's past the 6 year limit specified by the Limitations Act 1980 - however, under Section 34 of the Limitations Act you can state as you only just became aware of the fact you've been mis represented to, as you have no legal knowledge or background to know you'de been decieved you can request the judge hear the case. The risk is that there is no precident set and it is down to each individual judge as to whether he / she will allow the case to be heard - if not it will be struck out - another risk is costs, the defendant could apply for costs to be awarded to them if the case is struck out.

And troness replied

Also see a lot on here about companies claiming they don't have records over 6 years old.
Important to note that they should be keeping records for 3-6 yrs(depending on what record) AFTER their relationship with the customer has ended. So even if people took their polcies out 7 years ago ... if it only ended 2 years ago, the company should still have the records.

maxdp

That has explained. After reading the post from Troness that is where I was getting my info from. Remember reading somewhere it may have been from there.

That has sorted out my thoughts.

Appreciated