time to face defeat?

gillbrian

Hi
we took out a loan in 2004 (october) with Paragon through the broker Freedom Finance. I tried to claim back the single premium PPI of £4,305 from Paragon who said I needed to ask Freedom who said I needed to ask Bespoke!! to cut a very long story short I asked FOS to investigate in September 2009. Nearly two years on and still no decision. FOS say they have to try to claim from the insurer as Wilmslow (Freedom, Bespoke) were not regulated at the time of the loan.
Given that Wimslow have now gone bump my question is this... Is there really any chance of getting our PPI refunded now or should I just forget about it and put the mis selling down to (expensive) experience?
I'm sure there are lots of people in the same boat and it is so infuriating that they (whoever THEY might be) can get away with it.
thanks

DrSqueeze

I certainly wouldn't give up, but at the same time I wouldn't pin all my hopes on it.

Are the FOS still actively dealing with your complaint?

gillbrian

thanks for replying. The FOS are still dealing with my complaint but when I last spoke to them, they didn't sound too positive, saying they couldn't force anyone to take responsibility and they just have to wait and see if they do! I feel frustrated as I know we have a good case on a few counts but as it's unlikely anyone will take responsibility I think it's a lost cause.

amersall

Bide your time, let the FOS get on with it, you may be lucky,you may not.
You have come this far so hang on in there.

marshallka

That is right what FOS are saying.... they cannot force them to take responsibility BUT I am sure there must be something going on in the background on this (I assume its Cassidy Davis/Lloyds Society is your insurer).

Personally I would just keep asking them where they are with this and perhaps say to FOS that it seems they are stalling maybe so that a consumer could not use the courts if they wanted to?? Its not right that this is taking so long. I wonder if there is a court case on the horizon maybe and then this will set a precedent!!

gillbrian

thanks for your replies, it does help to know I can sound off to people who can relate.
Marshallka, the insurance company is London and Edinburgh, don't know if that makes any difference.
The FOS said they would update me by mid august so will wait to see if anything comes from that. 2 years is a long time to wait for an answer although I appreciate that the FOS must be swamped and our case, like so many others, is complicated.

gillbrian

Hi
further to my claim against paragon/bespoke/wimslow/freedom finance/london scottish

I have received a letter from FOS today saying they are unable to consider my claim against the business that sold the policy but they are trying to see if they can consider a claim against the underwriter (london scottish)
they go on to say they are gathering information to establish the relationship between the different companies.
they say they need to investigate thoroughly as the decision affects whether they are legally allowed to look at my complaint.
they also say their decision will affect a large number of other complaints currently with them.

Is anyone else in a similar situation to me?

Does anyone have any information regarding the FOS on this i.e are they waiting for some legal insight or whatever?

I would be grateful for any help/empathy/comments

thank you

DrSqueeze

The fact they're still looking into the situation is a positive note. As is the suggestion that a lot of other similar complaints are ongoing. The more people in the system, so to speak, the greater the importance of resolving it one way or another.

Let them get on with it, and keep asking for an update from time to time.

Good luck, and hang on in there!

gillbrian

thank you for your reply DrSqeeze.

is there anyone else out there in a similar situation to ours?

magpiecottage

London & Edinburgh is part of Aviva. I think, though I cannot be sure, that it subscribed to the General Insurance Council's Code of Practice.

If Freedom Finance did not then L&E would have been in breach of the Code by accepting business from it. You would therefore have possible grounds for complaint that, had it not breached the Code the policy would never have existed.

mumofmonkeys

Hi Gillbrian (is that pink)?? you will know wot I mean.

We too are and have been waiting since October 2008 for a response and have been told the same as you. We can only wait and hope.

Regards