Time Retail Finance - COMET

mark54321

Hi peeps

In the late 90s I had a Time Retail Finance account for some stuff I bought from Comet. The account had PPI on it. I'd like to contact Time Retail Finance to discuss this, but from googling about it appears they went bankrupt a few years ago. I seem to remember reading somewhere that GE had taken over their accounts but I'm not sure how accurate this is.

Does anyone know for definite? Or has claimed back PPI on a Time Retail Finance account?

Cheers

Mark

magpiecottage

Time Retail Finance Limiteddoes still exist. Since 14 January 2005 it has been an Appointed Representative of Santander Retail Cards Limited.

Your problem is that Santander has no reponsibility for any sale before then and FOS has no jurisdiction over Time.

mark54321

Thanks for the reply... does that mean it's not worth contacting Santander?

di3004

Hi there

You can still give it a go, but they will possibly come back and say as they were not regulated you would not be able to make a complaint on this account to the Financial ombudsman service (FOS), as the FOS will only be able to adjudicate complaints on regulated businesses where not all were before 14 Jan 2005.

If they reject though you can try the underwriter direction, if you call the FOS and explain your situation, its possibly an avenue they will suggest, and they will investigate on any liabilities the underwriter/insurer also had on the ppi policy, and its likely the underwriter/insurer were regulated.
The bank/business should provide details of the underwriter on request.

Good luck.

magpiecottage

di3004 wrote: »

You can still give it a go, but they will possibly come back and say as they were not regulated you would not be able to make a complaint on this account to the Financial ombudsman service (FOS), as the FOS will only be able to adjudicate complaints on regulated businesses where not all were before 14 Jan 2005.

It is almost certain they will do this.

If they reject though you can try the underwriter direction, if you call the FOS and explain your situation, its possibly an avenue they will suggest, and they will investigate on any liabilities the underwriter/insurer also had on the ppi policy, and its likely the underwriter/insurer were regulated.

I am afraid the insurer is not liable for anything to do with the actual sale of the policy unless the intermediary was their representative which, for insurance of this type, would only have applied to their own employees before 2005.

There is a technical argument that can theoretically be used to force liability onto the insurer but it relies on a voluntary code which only came into force in 2001 so something from the 1990s will not be covered.

di3004

Arh yes of course, 1990's, missed that part,. cheers Magpiecottage.;)

mark54321

Is it worth contacting Comet?

As far as I'm concerned, I went into Comet to buy goods at the time. All the paperwork I signed was put in front of me by their sales rep at the point of purchase of goods.

Is there therefore any scope for me asking for the PPI back from Comet and it being their problem to get it back from Time Retail Finance or chalk it up as a loss?

reformedspender

My husband had a Comet Time Card years ago for something he purchased at the store but then for years after he had paid off the purchase was charged £8.25/month for 'personal accident insurance'. I have statements from February 2005 until August 2006 but I have a document that states that he took out the policy in 2002.

Is this the same as PPI and if so how on earth do we go about making a claim without all the original documents? Are we passed the time limit for making a claim?

Sorry to sound so ignorant...