Report Endowment Misselling Compensation SUCCESSES

MUSTBEFUNNY_2

Thx:money:

GEMELL_2

Policy with Freinds Provident

Took out endowment 13 yrs ago to cover mortgage of £32,555
Then told could have a shortfall of £18000 minimum aaaaah

Panic stations! went onto repayment pushing up my repayments and adding another 2yrs to my term.

As my endowment was worth so little i sold it on (silly me):mad:

Would i still be able to put a missold claim in or am i to late?

Any advice would be most welcome:T

Thanks

dunstonh

Virtually all FP endowments would be time barred now. Only one way to find out though.

It is worth checking the available funds on the FP endowment. They have some pretty good unit linked funds which offer greater potential than with profits and some (but not all) of their endowments allow free switching.

GEMELL_2

Sorry you say TIME BARED

I thought you could still put a claim in?

Do these companies set there own deadline!

dunstonh

The deadline is 3 years from a red warning or significant risk of not hitting target. They then follow this up with a warning of your last chance to claim.

The format is set by the FSA but the firms will have different dates to when you are informed. FP have been very active with the time bar.

mrcinlondon

My Friends Provident policy time bars in June 07 (they allow an extra month for posting) so check with FP first.

GEMELL_2

But when were you informed of the stortfall/

mrcinlondon

Informed of shortfall long time ago but last reprojection letter dated 10 May 06. Red letter would have been nearly 3 years ago.

clairville

just recieved offer of compensation from equitable life my acceptance of the offer of redress will constitute an irrevocable instruction to the Society to take the required actions -- is this normal pratice forthis type of offer ?

Str4tm4n

A combination of idleness and a dim view of my chances of success kept me from bothering to follow up on looking into making a claim. When my financial advisor offered to have a go on my behalf I couldn't see why not. Wthout his help I may have given up on it as I can't say it was without complications but so far I have received 3K from the smaller of my two claims and I'm waiting to hear from the other somewhat more complicated (but potentially bigger)one.
So even if like me you don't feel particulary enthusiastic about it, give it a go!