Carrington Carr Broker Fee and income protection Miss Sold - Reclaim Help

dunstonh

thought I wouldn't have a chance to claim as I had signed this and that and had all the reasons & recomendation documents.

Doesnt matter. The FSA and FOS do not allow bad advice to be signed away as acceptable by the consumer unless you are doing an execution only transaction (i.e. no advice) or you are an insistent client where the best advice is documented but you choose to overrule the adviser. Generally, its not your place to know what is best when seeking advice. So, you are not in a position to say what the adviser is doing is right or wrong.

All you need to do is complain that a single premium MPPI was sold when a monthly one should have been as you wouldnt have been charged interest on the debt built up by the single premium and would be able to retain cover for the whole period (with monthly) unlike the single premium which only covers a limited term.

You dont need an ambulance chaser (unlikely to be a solicitor as they have been warned off by the Law Society). Single Premium MPPI is one of the easiest things to complain on. It has an over 90% upheld rate.

growler8936

Thanks for the reply dunstonh. I will get the ball rolling ASAP

caroline25

watching with interest as I'm in the same position!

growler8936

caroline, did you get my reply to your message as nothing has appeared in my outbox!!

Ladycare

I recently requested a ppi mis-sold paymEnt to carrington carr, I had a response today and they said as the policy was sold 7th december 2001 it was the GISC that regulated the sale of MPPI policies. On 14th January 2005 was appointed representative of legal and general partnership ltd and therefore any complaints do not fall into the FSA provision and therefore the financial ombudsman service has no recourse. Does anyone have any suggestions as to what to do next? Any suggestions would be helpful. Thanks.

dunstonh

Does anyone have any suggestions as to what to do next?

Give up. Its game over. You already had a low chance of success as it was MPPI (complaint upheld rate on MPPI is far lower even on complaints that are within the allowable period). Yours is pre-regulation so they dont have to consider your complaint.

griffb23

hi ladycare,

pretty much in the same position as yourself, our mppi was taken out 2004, our complaint as been with the fos for about six months now, while they have told us before what you have been told they are looking at other avenues,(i believe underwriters), but i am not holding my breath especially after dunstonh post,good luck anyway

stitcherooni

Don't give up. File a complaint with the FSO. They are looking at many complaints about this.

dunstonh

stitcherooni wrote: »

Don't give up. File a complaint with the FSO. They are looking at many complaints about this.

The FOS (to give it the correct initials) can only rule on complaints within their jurisdiction. So, please explain why you are telling someone not to give up who has already been told it is outside the jurisdiction of the FOS?

magpiecottage

dunstonh wrote: »

The FOS (to give it the correct initials) can only rule on complaints within their jurisdiction. So, please explain why you are telling someone not to give up who has already been told it is outside the jurisdiction of the FOS?

The rules on this are complex and unfortunately most people do not understand them. Essentially, though, a complaint about a breach of the GISC code, or the mortgage code can only be considered by FOS if the firm subscribed to that code at the time AND subsequently fell directly under FOS jurisdiction.

Carrington Carr has NEVER been under FOS jurisdiction. As an Appointed Representative of Legal & General, the FOS jurisdiction is indirect. Legal & General is responsible only for those activities it undertook as its representative.