update

Consumerist

deeb604 wrote: »

my letter from funding corp on 31st Aug tells me i applied for the loan on 9 october 2002 over the phone bla bla then it says

'whilst we feel that the policy was sold in your interest we are prepared to make the following offer

• A full refund of all the premiums paid by you including interest totalling £2781.56.

I would be grateful if you could sign the below form confirming you accept this offer in full and final settlement against all parties of your complaint'
I sent reply in acceptance 2nd Sept , they received it 3rd Sept.

Just a thought here. . .

Is not the offer, once accepted, a written agreement. If you have a copy of their offer and proof of receipt of your acceptance (i.e. Recorded Delivery tracking number) then the clock on the Limitations Act has just been re-started.

The issue now is the breaking of a written agreement you have just entered into with Finance Corp. It no longer has anything to do with the original PPI complaint. Finance Corp may have dropped off here by making the offer and not withdrawing before you accepted.

marshallka

Consumerist wrote: »

Thanks for that marshallka. I have been following this thread, on and off, but seem to have missed the point on this one. My apologies to Dee, as well.

Did you pursue your particular case any further?

I have only had a case like this one against the insurer which is within jurisdiction and comes under compulsory jurisdiction BUT this was just an unfair rebate complaint (the broker was not regulated and the FOS will only look at cases for misselling against the ones that actually sold the policy). I did win incidently but like I say, just unfair rebate through FOS.

My other cases going back further than 6 years were against banks and these would come under the old banking ombudsman so again within the new Ombudsman's jurisdiction. If a firm were a member of GISC then this would mean that a complaint could be bought before the Ombudsman but I don't think that the Funding corp was and that is perhaps why FOS cannot adjudicate.

marshallka

Consumerist wrote: »

Just a thought here. . .

Is not the offer, once accepted, a written agreement. If you have a copy of their offer and proof of receipt of your acceptance (i.e. Recorded Delivery tracking number) then the clock on the Limitations Act has just been re-started.

The issue now is the breaking of a written agreement you have just entered into with Finance Corp. It no longer has anything to do with the original PPI complaint. Finance Corp may have dropped off here by making the offer and not withdrawing before you accepted.

Again consumerist I had a case against the insurer for an unfair rebate and it was at FOS waiting for an adjudicator. In the meantime I had an offer from the Insurer via an email and also a letter too. This offer was one which I would have accepted and I had to ring them to accept. I did do but when I rang I was told that this amount was worked out wrong and that a new offer was being sent and it was £2K less than their original one. I then rang the special department at FOS that was looking into insurance complaints against the insurers for misselling (although mine was only for unfair rebate) and their manager told me that it was quite acceptable for a firm to make a mistake and right it before paying out. I then had no option than to accept the lesser amount. FOS said they would not get involved.

deeb604

Consumerist wrote: »

Just a thought here. . .

Is not the offer, once accepted, a written agreement. If you have a copy of their offer and proof of receipt of your acceptance (i.e. Recorded Delivery tracking number) then the clock on the Limitations Act has just been re-started.

The issue now is the breaking of a written agreement you have just entered into with Finance Corp. It no longer has anything to do with the original PPI complaint. Finance Corp may have dropped off here by making the offer and not withdrawing before you accepted.

Thanks all for the advice, I have sent off to the FOS but am not opptimistic. Consumerist - I tried the whole ' I have proof of the offer and acceptance and the withdrawel letters' Apparantly this could be deemed as human error!! Bleak really no official body seems able to help, I didn't get any rebate on this PPI when I settled early, hence their offer was off full PPI paid, joke really screwed by this company!!!

di3004

deeb604 wrote: »

Thanks all for the advice, I have sent off to the FOS but am not opptimistic. Consumerist - I tried the whole ' I have proof of the offer and acceptance and the withdrawel letters' Apparantly this could be deemed as human error!! Bleak really no official body seems able to help, I didn't get any rebate on this PPI when I settled early, hence their offer was off full PPI paid, joke really screwed by this company!!!

Wishing you luck with this Dee, Its awful isn't it?:mad::mad:

Will keep an eye on your posts here, fingers crossed.;)

Consumerist

deeb604 wrote: »

I didn't get any rebate on this PPI when I settled early . . .

OK. If the loan was paid off early in Nov 2004 and no rebate was given then, surely, you are entitled to claim for the unpaid rebate and 8% interest since the date of early settlement. Did you get any rebate at all?

You are still in time for this claim.

marshallka

Consumerist wrote: »

OK. If the loan was paid off early in Nov 2004 and no rebate was given then, surely, you are entitled to claim for the unpaid rebate and 8% interest since the date of early settlement. Did you get any rebate at all?

You are still in time for this claim.

Hi consumerist, the thing with this one is that not all rebates are unfair and sometimes there would have been a rebate which you would not know of without a breakdown of the settlement.

You also have to actually prove the rebate was unfair as the FSA say that a pro rata rebate is acceptable.

With an unfair rebate complaint its only against the actual premium paid and not all the interest you are charged on this. You would need to state to FOS why your rebate was actually unfair. IF however, you were definately not given a rebate at all then that is frowned upon so you do have a complaint there. Unfair rebate complaints are against the insurer and not the lender.

Consumerist

Thanks marshallka.

It sounded, from Dee's post that there was no early repayment rebate at all i.e neither on the loan nor on the PPI and I was kinda hoping that there may be reasonable cause for complaint on that account.

Consumerist

deeb604 wrote: »

Thanks all for the advice, I have sent off to the FOS but am not opptimistic. Consumerist - I tried the whole ' I have proof of the offer and acceptance and the withdrawel letters' Apparantly this could be deemed as human error!! Bleak really no official body seems able to help, I didn't get any rebate on this PPI when I settled early, hence their offer was off full PPI paid, joke really screwed by this company!!!

Hate to keep on about this but I feel, as do others on this thread, that you have been treated apallingly by Finance Corp.

Their offer might have been construed as "human error" if the offer to repay PPI and compensation was on the basis it was a mis-sold policy.

BUT they have denied mis-selling and the offer was, therefore, not connected to your past PPI and is, in fact, a recent goodwill agreement, which you have accepted.

I think you have a cause for complaint, although I am not a lawyer. This kind of agreement may not, however, come within FOS jurisdiction and you may have to risk a court case.

deeb604

Consumerist wrote: »

Hate to keep on about this but I feel, as do others on this thread, that you have been treated apallingly by Finance Corp.

Their offer might have been construed as "human error" if the offer to repay PPI and compensation was on the basis it was a mis-sold policy.

BUT they have denied mis-selling and the offer was, therefore, not connected to your past PPI and is, in fact, a recent goodwill agreement, which you have accepted.

I think you have a cause for complaint, although I am not a lawyer. This kind of agreement may not, however, come within FOS jurisdiction and you may have to risk a court case.

Thanks for your support, unfortunatley the FOS haven't been much help so far, I am considering court its £80 should I risk it, I don't know could end up £80 worse off, would be nice if there was an agency that could advise if its worth risking an £80 outlay.