PPI Time Barred ?

Sidekick_2

Hi all,

Can anybody advise me please?
After a call out of the blue in September 08 by a loan busting company, they advised me that I may have been mis sold PPI on many of my loans.
although I did not instruct them to work on my behalf (I felt there charges were too high) I decided to look into this myself.

I put a complaint into my bank in October 08 on the grounds that i was mis sold many loans and did not receive the appropriate refunds when the loans were paid off early via another loan.

The loans go back to when I was a sole trader 2002 and before. The last loan being settled late 2007. since 2002 my business has been incorporated and all the loans since then are through the Ltd Company.

The 1st response I received from the bank stated that I was time barred under statute of limitations and that PPI is deducted from the outstanding balance from the top up loan.

I wrote a 2nd letter stating that I disagreed and I produced statements to the fact that no refund was made to these loans even though they were paid off early, which was contrary to there own Refund policy.

I have now received a final response stating much the same as the first letter advising me that the financial ombudsman may not look at this complaint, because all these loans are out of the six years of my complaint.
(bearing in mind I have all of the relevant documentation)

Please can anyone advise me.

maxdp

Sidekick wrote: »

Hi all,

Can anybody advise me please?
After a call out of the blue in September 08 by a loan busting company, they advised me that I may have been mis sold PPI on many of my loans.
although I did not instruct them to work on my behalf (I felt there charges were too high) I decided to look into this myself.

I put a complaint into my bank in October 08 on the grounds that i was mis sold many loans and did not receive the appropriate refunds when the loans were paid off early via another loan.

The loans go back to when I was a sole trader 2002 and before. The last loan being settled late 2007. since 2002 my business has been incorporated and all the loans since then are through the Ltd Company.

The 1st response I received from the bank stated that I was time barred under statute of limitations and that PPI is deducted from the outstanding balance from the top up loan.

I wrote a 2nd letter stating that I disagreed and I produced statements to the fact that no refund was made to these loans even though they were paid off early, which was contrary to there own Refund policy.

I have now received a final response stating much the same as the first letter advising me that the financial ombudsman may not look at this complaint, because all these loans are out of the six years of my complaint.
(bearing in mind I have all of the relevant documentation)

Please can anyone advise me.

Hi Sidekick.

Seing as you have all documentation you probably have a good cause. How do you feel that you have been miss sold.?

pinknico

Some people are making and winning claims from as far back as the '90s so it shouldt be a problem if you have been mis sold or not rebated correctly.

Sidekick_2

maxdp wrote: »

Hi Sidekick.

Seing as you have all documentation you probably have a good cause. How do you feel that you have been miss sold.?

I was self-enployed at the time of all the loans taken out,so even I was out if work it was likely that I would have an income and not able to cliam.

All the paper work was filled out by bank managers and sent to me to sign, the PPI was always filled in and the paper work does not show it was optional.
Most of these were loans which consolidated previous loans and exsiting overdrafts, as recommened by bank managers.
I also can't find any refunds apart from a cheque send in 2005 for one refund?
Thanks for reply

maxdp

Sidekick wrote: »

I was self-enployed at the time of all the loans taken out,so even I was out if work it was likely that I would have an income and not able to cliam.

All the paper work was filled out by bank managers and sent to me to sign, the PPI was always filled in and the paper work does not show it was optional.
Most of these were loans which consolidated previous loans and exsiting overdrafts, as recommened by bank managers.
I also can't find any refunds apart from a cheque send in 2005 for one refund?
Thanks for reply

Hi There Sidekick

I have also claimed back loans whilst being self employed. It sounds as though you have a pretty convincing case there. I have claims going back to 2001 on loans and they are not time barred. Plenty of people have claimed as Pinknico has said. You could also try the legal route. If you wish more information on this just pm me. I would ring up the FOS and talk to them first of all and ask where you stand.

di3004

maxdp wrote: »

Hi There Sidekick

I have also claimed back loans whilst being self employed. It sounds as though you have a pretty convincing case there. I have claims going back to 2001 on loans and they are not time barred. Plenty of people have claimed as Pinknico has said. You could also try the legal route. If you wish more information on this just pm me. I would ring up the FOS and talk to them first of all and ask where you stand.

Hi Max, I agree with you, "Sidekick" does seem to have a good case here and I would not leave it there.
Go for it Sidekick and give us a yell if you need any help through this reclaiming, I also read that someone was successful from a refund from the 1990's.;)

(Max just came back from the hospital , my eldest could not stand up this afternoon due to bad pains in the lower of his abdomen, just came home, its to do with a problem he had as a baby, blocked bowel, he's give a prescription and has to make an appointment to see his GP).
He seems okay now, thank goodness.;)

maxdp

di3004 wrote: »

Hi Max, I agree with you, "Sidekick" does seem to have a good case here and I would not leave it there.
Go for it Sidekick and give us a yell if you need any help through this reclaiming, I also read that someone was successful from a refund from the 1990's.;)

(Max just came back from the hospital , my eldest could not stand up this afternoon due to bad pains in the lower of his abdomen, just came home, its to do with a problem he had as a baby, blocked bowel, he's give a prescription and has to make an appointment to see his GP).
He seems okay now, thank goodness.;)

Oh Di so sorry to hear that. Hope he stays better now. N and I on MSN if you want to talk.xx