How far back

aga151

Hi, as a newbe to this,can some one tell me how far back does this claims go!! or is there a time limit.

aga:j

melorablack

No time limit, just be aware that the information the bank/organisation has will be limited the older the account. Also the regulations were completely different then so you may not get the outcome you were hoping for.

Can't hurt to try though.

And also, the bank/organisation may not have all the details (or any details) of your accounts if they are very old so you may have to provide these youself.

di3004

aga151 wrote: »

Hi, as a newbe to this,can some one tell me how far back does this claims go!! or is there a time limit.

aga:j

Hi there and welcome,

I would try anyway, if you have a case of being mis sold, as you can still be successful.

However, your chances are possibly stronger for the last 6 years, and then again depending if the actual company in question were covered as in regulated by GISC taken over by the FSA in Jan 2005, if for instance if the company do not resolve your complaint for you, the FOS (Financial ombudsman service) are only able to investigate complaints who were covered by these regulators, but give it your best shot.

Another thing is, if you've no Copy of the Loan agreement, write to that company to request a copy of this, enclose a £1 postal order or cheque payment, they should supply these by 12 days.
They normally charge a £1 each for these requests.

If they are unable to supply the agreements, they should then let you know why and send back your payment.;)
Always use recorded delivery for posting.

And more information here on reclaiming, follow the reclaiming procedures and templates, write your own reasons, they have 8 weeks to respond, and the final response from them should give details of the FOS, if eligible.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

The way I see it, if you don't try you will never know, so good luck.;)

di3004

melorablack wrote: »

No time limit, just be aware that the information the bank/organisation has will be limited the older the account. Also the regulations were completely different then so you may not get the outcome you were hoping for.

Can't hurt to try though.

And also, the bank/organisation may not have all the details (or any details) of your accounts if they are very old so you may have to provide these youself.

So glad you came along to confirm this.:T
Cheers.;)

melorablack

di3004 wrote: »

So glad you came along to confirm this.:T
Cheers.;)

Just a little bit of trivia while we're on the subject:

The oldest bank account I have seen was from 1971.
The oldest credit card was from 1982.
The oldest mortgage was from 1983.
The oldest PPI policy was from 1986.
The oldest secured loan was from 1988.
The oldest unsecured loan was from 1991.

However all of these accounts were still open and so still showing on the systems. I have no idea what documents would have been available for the bank account and mortgage because I never looked into these, I just happened to notice how old they were whilst dealing with another query.

I got the agreement for the credit card (which I was amazed at but apparently the filing system was better then than it is now...typical! :rolleyes:)

The agreement for the unsecured loan was provided by the customer.

No agreement was available for the secured loan.

A lot of companies go through a lot of system changes very often and although I could see all of those accounts from that long ago there have been accounts from the last 4-5 years that I have been unable to find on the systems with no explanation as to why. :mad:

If the customer has the credit agreement or even just details such as who the account was with, when it was taken out, when it closed, how much it was for etc it can make things a lot easier with older accounts. :beer:

di3004

melorablack wrote: »

Just a little bit of trivia while we're on the subject:

The oldest bank account I have seen was from 1971.
The oldest credit card was from 1982.
The oldest mortgage was from 1983.
The oldest PPI policy was from 1986.
The oldest secured loan was from 1988.
The oldest unsecured loan was from 1991.

However all of these accounts were still open and so still showing on the systems. I have no idea what documents would have been available for the bank account and mortgage because I never looked into these, I just happened to notice how old they were whilst dealing with another query.

I got the agreement for the credit card (which I was amazed at but apparently the filing system was better then than it is now...typical! :rolleyes:)

The agreement for the unsecured loan was provided by the customer.

No agreement was available for the secured loan.

A lot of companies go through a lot of system changes very often and although I could see all of those accounts from that long ago there have been accounts from the last 4-5 years that I have been unable to find on the systems with no explanation as to why. :mad:

If the customer has the credit agreement or even just details such as who the account was with, when it was taken out, when it closed, how much it was for etc it can make things a lot easier with older accounts. :beer:

This is brilliant Melorablack.:T

Thanks for posting this, its very interesting.

I take it though it does make it that little easier if they were actually covered by any of the regulators as stated in my above post, in regards of using the FOS?
Even though there are other ways of taking it further.

Still, just to have paperwork is a help, cool, will have to remember this to tell others on here, or maybe refer them to your post.

I think this info would be good as a Sticky thread.;)

melorablack

di3004 wrote: »

This is brilliant Melorablack.:T

Thanks for posting this, its very interesting.

I take it though it does make it that little easier if they were actually covered by any of the regulators as stated in my above post, in regards of using the FOS?
Even though there are other ways of taking it further.

Still, just to have paperwork is a help, cool, will have to remember this to tell others on here, or maybe refer them to your post.

I think this info would be good as a Sticky thread.;)

Sorry but I don't know too much about the fos so I'm not too sure about who they would help or not...in all our 8 week/FRLs we give ombudsman rights no matter how old the account is and if it does go the FOS then a different dedicated team deals with them.

I have only seen the fos refuse to help a customer on a complaint we had declined 3 years ago and the customer went back to them after 3 years. The fos said our decision was made too long ago for them to deal with.

Sorry I can't be of more help here.

di3004

melorablack wrote: »

Sorry but I don't know too much about the fos so I'm not too sure about who they would help or not...in all our 8 week/FRLs we give ombudsman rights no matter how old the account is and if it does go the FOS then a different dedicated team deals with them.

I have only seen the fos refuse to help a customer on a complaint we had declined 3 years ago and the customer went back to them after 3 years. The fos said our decision was made too long ago for them to deal with.

Sorry I can't be of more help here.

That's okay.;)

Its good to know there are other options then, such as where you are.;)
Brilliant.:beer:

aga151

Thanks you guys for all your info,think my self employment started in 1977 to 1999,but will look into it,as you say,if you don't try you'll never know. great Forum.

aga