Help with endowment mis-selling questionaire

cazarol

Following reading various reports etc I used the Which website to compile letters regarding 3 endowments I was sold in 1986,1987 and 1992 all after my being given the idea that they would definitely repay my mortgage and much more besides.
I have received detailed questionaires in response and just wondered what your thoughts are on completing these. I am find it very difficult to recall things relating to my salary and other circumstances when I took out the policy. I cant see the relevance in establishing if I was mis-sold the policys in relation to what my current income is. At the time of taking this option I was very young and very naive and just saw the excess money available after repaying my mortgage!
In the accompanying letter I think it reads to say that if they dont get the questionaire returned within 21 days they will base everything on 'assumptions'.
I would appreciate any assistance that anyone would be kind enough to give as I wonder if I should just leave them to their 'assumptions' rather than stress myself trying to remember my salary of 20 years ago, age 19!!! etc etc

Many Thanks

dunstonh

Answer the questions factually and dont make anything up. If you cannot recall something, say so and dont guess. If you are caught out telling lies on the form, that can work againt you in other areas.

vinno65

Hi Cazarol,
as Dustonh says answer truthfully if you don't know just say you don't know.
If the people who sold you the endowments did there job properly then they should have a record of your circumstances at the time of each sale. If they haven't got these records or have destroyed them then you may end up winning by default as it is up to them to prove that the sales were compliant. Still don't understand why records have been destroyed for products designed to last 25 years (excuses such as data protection are often cited) but the old cynic in me has ideas.
anyhow good luck and don't be fobbed off
regards vinno

dunstonh

Still don't understand why records have been destroyed for products designed to last 25 years (excuses such as data protection are often cited) but the old cynic in me has ideas.

A lot of them have been lost. Takeovers result in documents being moved from pillar to post and they arent particulary looked after (at least not back in the 80s and 90s). Back in my tied days, the rule was to hold on to them for 6 years after the date of the sale. Data protection was the fear then but we have to remember that data protection today doesnt have the same fear factor that it did 10 years ago.

Now, guidence issued has been that you hold on to all documentation forever. With electronic means, thats easy.

teecee90

Just answer the questions as best as you can. If there is a question that you think you can answer, but are not sure, just precede the answer with.."To the best of my recollection..."

They are just trying to get as much information as possible to make an assessment. Dont lie, but also dont worry if you cant prove everything you say at this stage.