monument Payment break Plan

magpiecottage

The "Limitation Act" refers to the Limitation Act 1980, which puts time limits on claims for various things. It does not apply to complaints that fall under the jurisdiction of the Financial Ombudsman Service.

Sales of general insurance only fall under FOS jurisdiction if:

• The recommendation to purchase took place on or after 14 January 2005 (which will not apply to the OP who purchased in 2001)
• The firm concerned was subject to one of the Insurance, Banking or Building Societies Ombudsman schemes at the time (which seems very unlikely in this instance)
• The firm voluntarily submits itself to FOS jurisdiction (which is also unlikely)
• At the time the firm submitted itself to the voluntary code of the General Insurance Standards council and the insurance is of a type which the code covered. I do not know if Monument subscribed to the code or when it first did so (the code came in during 2001) and I do not know whether this particular policy was covered by it.

If it is not covered by these provisions then the Limitation Act gives you six years from the date of the events giving cause for your complaint or, if later three years from when you became aware, or ought reasonably to have become aware, that you had cause for complaint to start legal action against them.

Slimming-world

Hi

Sorry to add a question to your thread

I wrote the Monument requesting the refund of PPI, and received a long winded letter basically say NO as I hadn't had any PPI applied in the last 6 years.

My question is: Is this correct?

Slimming-world

Sorry to Bump... has anyone got any ideas??

kalikin

Hiya

Dont know if anyones read my recent post but I took a monument credit card approx 12 years ago and it was provided by barclays now I'm sure at that point of sale the payment break plan was an insurance policy that paid a percentage of your balance in the event of illness/redundancy

It was then sold on to an r rapheal and son bank and it appears it changed from an insurance to a pay your premiums and if you become sick/redundant you dont have to pay your monthly payment and interest will be freezed - BUT IT NEVER REDUCED THE BALANCE

Its now been sold on again to a COMPUCREDIT GROUP

Im signed off work with acute mental health problems and they are threatening legal action I have no assets am on benefits and live with parents - go figure what they can do

Ive just sent them the FOS questionnaire and I am fully prepared to go FOS

Remember it costs a lender £2000 for every person who takes a complaint to them - win or lose

eirelav1962

my creditcard was with providian that was 2001 it is monument just now

ALIBOBSY

It is just aother FOB off tatic from monument there is no time limit on how far back PPI clams can go. I would write back and insist on a refund in line with FOS guidence ie full refund of ALL premiums plus interes paid plus 8% on top.
I would add if they are unable to do this you want a final response so you ca proceed to a complaint with the FOS.

BUT at the end of the day its your decision, they are banking on the fact that some people just want a quick result and may need the money now/want the debt cleared. You need to weigh up small refund now or much larger figure later.

Good luck
Ali x

eirelav1962

i will write another letter to monument and see what they say if i dont get any response i go to the fos i ahve def paid more than 485 pounds from 2001 t0 2007

hancock7b

Hi i have claimed when card was monument and had no problem, however i need to make another claim as been injured but cant seem to find a number and barclaycard cant help. My monument card was transferred to barclaycard. Anybody help with a number?

Thanks

grunner2009

Hi everyone.
Had a phone call tonight from monument saying that I'm entitled to claim back my Payment break plan,just thought this was a bit odd that they are telling people they can do this.
They said to use Premier claims plus,has anybody else had this phone call???
And I would like to know if anyone has got their Payment break plan money back??

Thriftkitten

Hi and sorry if this is the wrong thread, but I was looking through my old statements that I found in the attic last night ad came across my old momument card statements, it appears I had been paying for this payment break plan, the card dates back from about 2007 to 2004, is it still worth trying to push for a Ppi claim please? and if so how do I go about it... many thanks.