Don't give up on Endowment Claim! Success with FP

leona71

As some of you may know we have been in a bit of a battle with our Endowment Policy Friends Provident since February this year. First they said we were time barred and we appealed and that was successful, then we had several forms to fill in and lots of phone calls and questions were made by FP. Finally we were granted compensation of £3767 which we received by letter today. So just goes to show that you have to fight these Companies if you were wrongly sold the Policy in the first place. Some people might think...oh we're timebarred that's that then - but no it isn't!!

So a big thanks to Martin and MSE as i wouldn't have known anything about claiming and what to do. It's saved us heaps and honestly i wouldn't have got this money without the advice re MSE.

Thanks and good luck everyone

Leona

EdInvestor

Well done Leona. It's a real achievement to extract redress out of FP.:mad:

leona71

Yes after all the horror stories about FP i was rather surprised - i think you've just got to stick to your guns as that Company try to fob you off with any old excuse letter.

Thanks for all your advice you gave me, it's been so helpful.

vinno65

Hi Leona

Good news and well done. I think it would be helpful to other people if you would post exactly why you were time barred originally and why they lifted it later.

regards Vinno

sushanson

Good news - Abbey have offered £1500 as goodwill payment for endowment sold to me in 1986. They have no records from that time and have agreed that I may have been mis-sold in terms of being told that policy would achieve value or more.
Thank you Martin for giving information that was simple to follow. The time taken from first approach to Abbey to offer was 6 weeks.

Regards Su

EdInvestor

Check out Vinno's successful court action against the FP timebar here

vinno65

sushanson wrote:

Good news - Abbey have offered £1500 as goodwill payment for endowment sold to me in 1986. They have no records from that time and have agreed that I may have been mis-sold in terms of being told that policy would achieve value or more.
Thank you Martin for giving information that was simple to follow. The time taken from first approach to Abbey to offer was 6 weeks.

Regards Su

Hi sushanson you say the Abbey have offered you a good will payment I hope you haven't accepted it. The Abbey are signed up to voluntary juridiction of the FOS regarding complaints for sales prior to 1988. They therefore have a duty to investigate your case fully and pay you redress if there has been a miss-sale. Why are they then offering a good will payment?? They have admitted a miss-sale on the grounds that they can't prove otherwise so they should be working out the correct redress for you. Can you clarify if the £1500 is a good will gesture or a redress figure?

regards Vinno

dreamylittledream

Vinno

Abbey word their pre A day offers as 'a good will payment' (as do Bradford and Bingley) - however the figure offered is calculated under RU89 and calcualtions should be available if requested.

vinno65

dreamylittledream wrote:

Vinno

Abbey word their pre A day offers as 'a good will payment' (as do Bradford and Bingley) - however the figure offered is calculated under RU89 and calcualtions should be available if requested.

Thanks for that I wasn't aware

regards Vinno

leona71

Hi All

We were time barred as it mentioned we were out of time re the red letter dates etc and apparently missed the deadline within a few months. End of story they said they couldn't help any more.

So i asked for copies of my files dating back to 2000 and thankfully they gave me all the letters from 2000 to 2006. I found out by reading the letters that they were sent to my previous address and nothing had been updated on their side. So if i hadn't checked what was in their file then i wouldn't have won anything. I would have just left it as that.

In some of the letters they discussed that i was to 'wait and see what happens re the shortfall' and i also challenged this.

Thankfully my case was overturned and i won which was great. So if anyone is timebarred it's totally necessary to see your file.

Leona

vinno65

Thanks for the info Leona and well done
Makes you wonder though how many people give up when told they are time barred?
regards Vinno