Unable to reclaim PPI

Glenisis

Hello,
Looking for help and advice with the following problem if possible.
I contacted Brunel Franklin in the hope that they would be able to
Recover PPI from Endeavour Personal Finance, however they replied
Without any explanation informing me they were unable to act for me.
I emailed Brunel Franklin and asked why they were unable to help there
Response was as follows.
Freedom Finance who sold me the Policy were not registered with the General Insurance Standards Council until it became compulsory in 2005. This meaning that following the rejection from Freedom Finance there is no option to refer the case to the Financial Ombudsman Service for adjudication as F.O.S. will have no jurisdiction with my case. There only advice was to claim through a Solicitor and they were unable to find a Solicitor who would take the case on a no win no fee basis. Has anyone else had the same experience? And does anyone know of a way round this problem.

Allan
Edinburgh

di3004

Glenisis wrote: »

Hello,
Looking for help and advice with the following problem if possible.
I contacted Brunel Franklin in the hope that they would be able to
Recover PPI from Endeavour Personal Finance, however they replied
Without any explanation informing me they were unable to act for me.
I emailed Brunel Franklin and asked why they were unable to help there
Response was as follows.
Freedom Finance who sold me the Policy were not registered with the General Insurance Standards Council until it became compulsory in 2005. This meaning that following the rejection from Freedom Finance there is no option to refer the case to the Financial Ombudsman Service for adjudication as F.O.S. will have no jurisdiction with my case. There only advice was to claim through a Solicitor and they were unable to find a Solicitor who would take the case on a no win no fee basis. Has anyone else had the same experience? And does anyone know of a way round this problem.

Allan
Edinburgh

Hi Allan and welcome.

Yes this is well known to happen.

What I would do now in your case is ring the FOS anyway, even though they would not be able to adjudicate against these as these were not members of GISC where the FSA taken over in Jan 2005 (they are only able to investigate complaints who were members of these regulators), but it will possibly be the case of writing to the insurer instead.

Many of us here have been in the same situation as you, and its been suggested by the FOS to write to the insurer instead who would have been regulated when you taken this out, if they say no then the FOS will then be able to investigate this for you.
Tel number to ring FOS here:
http://www.financial-ombudsman.org.uk/contact/index.html

The FOS are also trying to make the insurer/underwriters responsible, and its another direction to take to try to get your money back if all else fails.

The lender on request should be able to send you the policy details by post, the details of the insurer will be enclosed on the policy.

Please let us know how you get on if you don't mind, that will be cool, cheers.;)

Di

PS, I would not involve a claims company they will charge you, if you have a go yourself, with help from this site, if successful you will get to keep all your refund, you will find more info on the link below of the guidelines of reclaiming with template letters and so on.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance