freedom Finance acting as broker

woodymeg

could any one let me know if they have had any joy at reclaiming ppi against a loan been sold to them from freedom acting as broker

marshallka

woodymeg wrote: »

could any one let me know if they have had any joy at reclaiming ppi against a loan been sold to them from freedom acting as broker

When was it sold to you? I know of a few that have won against Freedom and some even from before Freedom were regulated in court cases.

woodymeg

marshallka wrote: »

When was it sold to you? I know of a few that have won against Freedom and some even from before Freedom were regulated in court cases.

first one was in June 2005, then secound in Dec 2005 x

marshallka

woodymeg wrote: »

first one was in June 2005, then secound in Dec 2005 x

They are BOTH fine for FOS and easier for them NOT to get out of. If you require any help with the reclaiming just shout.

woodymeg

marshallka wrote: »

They are BOTH fine for FOS and easier for them NOT to get out of. If you require any help with the reclaiming just shout.

thank you will see when and what they write back to me saying x x

marshallka

woodymeg wrote: »

thank you will see when and what they write back to me saying x x

Good luck.;)

HayleyJ_2

marshallka wrote: »

When was it sold to you? I know of a few that have won against Freedom and some even from before Freedom were regulated in court cases.

I didn't know of anyone who had won against Freedom pre 2005 - can you provide details Marshalka please - you will remember my situation hopefully!

marshallka

HayleyJ wrote: »

I didn't know of anyone who had won against Freedom pre 2005 - can you provide details Marshalka please - you will remember my situation hopefully!

There were two that actually went through the courts and just before court they settled their claims. It was a long hard process but they won. It did mean though battling. They basically sent them a claim and form N1 etc (don't know the procedure exact) but then freedom offered ridiculous amounts of which they both declined and then they won just days (might have even been on the day) before the case with a larger amount.

HayleyJ_2

marshallka wrote: »

There were two that actually went through the courts and just before court they settled their claims. It was a long hard process but they won. It did mean though battling. They basically sent them a claim and form N1 etc (don't know the procedure exact) but then freedom offered ridiculous amounts of which they both declined and then they won just days (might have even been on the day) before the case with a larger amount.

Ah, I see. I have been beavering away with this malarkey. Sent complaints to the FLA, FSA and FOS (they defo won't help tho) and also the Financial Services Commission in Gibraltar, who are very interested in gathering evidence that will prove that Bespoke have been conducting financial activities whilst unregulated. They are aware of them, but so far have had no proof re; their activities. I called Iain Farr from Bespoke (who was nothing short of useless!) but did tell him that he hadn't heard the last of me!

I wrote to Freedom today to ask them to send a final response to me (I've never actually had one) and confirm that A) they were not acting as a Broker (as we thought) but as a processor for Bespoke, that they knowingly entered us into an unregulated and unprotected financial arrangement with Bespoke, C) we signed documentation that stated we were entering into an agreement with Bespoke (which will provide fsc in Gib with their evidence) and D) how much commission/fees Freedom received as a result of our transaction.

I am also in the process of writing to the OFT with regard to Freedom's conduct and to query if they were acting in the spirit of their Consumer Credit Licence.

My next steps are the legal route......

marshallka

HayleyJ wrote: »

Ah, I see. I have been beavering away with this malarkey. Sent complaints to the FLA, FSA and FOS (they defo won't help tho) and also the Financial Services Commission in Gibraltar, who are very interested in gathering evidence that will prove that Bespoke have been conducting financial activities whilst unregulated. They are aware of them, but so far have had no proof re; their activities. I called Iain Farr from Bespoke (who was nothing short of useless!) but did tell him that he hadn't heard the last of me!

I wrote to Freedom today to ask them to send a final response to me (I've never actually had one) and confirm that A) they were not acting as a Broker (as we thought) but as a processor for Bespoke, that they knowingly entered us into an unregulated and unprotected financial arrangement with Bespoke, C) we signed documentation that stated we were entering into an agreement with Bespoke (which will provide fsc in Gib with their evidence) and D) how much commission/fees Freedom received as a result of our transaction.

I am also in the process of writing to the OFT with regard to Freedom's conduct and to query if they were acting in the spirit of their Consumer Credit Licence.

My next steps are the legal route......

Hi hayley, in GIB its not finance that has to be regulated, its the selling of insurance from what I am aware and the seller has to have been authorised. The FSC needs evidence that Bespoke sold to you the PPI as that is what was a regulated activity and they need to check whether Bespoke were unauthorised to do this???

As regards saying your loan was unprotected is not entirely true as it states somewhere on the agreement that you are no doubt but your protection is actually not what it should be as you can take Bespoke to court and hold the hearing here in the UK but from what someone on here told me (and I did confirm) you cannot get bailiffs to go into GIB if you won and IF they did not pay up so your rights are somewhat restricted really.

Glad you are carrying this on and good luck on the legal side of things.

HayleyJ_2

marshallka wrote: »

Hi hayley, in GIB its not finance that has to be regulated, its the selling of insurance from what I am aware and the seller has to have been authorised. The FSC needs evidence that Bespoke sold to you the PPI as that is what was a regulated activity and they need to check whether Bespoke were unauthorised to do this???

As regards saying your loan was unprotected is not entirely true as it states somewhere on the agreement that you are no doubt but your protection is actually not what it should be as you can take Bespoke to court and hold the hearing here in the UK but from what someone on here told me (and I did confirm) you cannot get bailiffs to go into GIB if you won and IF they did not pay up so your rights are somewhat restricted really.

Glad you are carrying this on and good luck on the legal side of things.

The one thing that I have on my side is that I did not sign any documentation that referred to a financial agreement with Bespoke. There is nothing that I could find in my credit agreement and I didn't get any documentation re; the PPI, so don't know if that says anything about them. The document I signed was a Freedom one, which technically means that they are responsible. However, this is still to be confirmed by the FLA.