Loosing the will to live with this claim

dunstonh

Be wary of legal action as the PPI issue is an FSA issue and not a legal one. Courts have been ruling in favour of lenders as things like single premium are not unlawful and the onus is more on the individual to prove wrong doing in law.

magpiecottage

amersall wrote: »

This thread is re Cardiff Pinnacle from last year ( that you made a post on) with people who are trying to claim against the Insurer, this thread has new posts and Cardiff Pinnacle seem to be looking at these claims after FOS contacted them.
https://forums.moneysavingexpert.com/discussion/3272014

There is a very specific circumstance in which you might have complaint relating to a missale against Cardif Pinnacle. If the intermediary did not subscribe to the GISC code then Cardif Pinnacle, which did, was not allowed to accept the business and was itself in breach.

Marshalka has suggested that it had a duty to monitor the activities of intermediaries but that is not true. If the intermediary subscribed to the code then the insurer was, and is, entitled to assume that it acted properly in the sale and has no liability.

If I want to know if a particular insurer and/or intermediary subscribed to the GISC code and/or the Mortgage Code I seek that information from FOS so it really should not be beyond the wherewithall for FOS to identify for itself whether this is the case.

I know about the qualifications for Financial Advisers as my Sister in law was one of these with one of the main Banks, the swatting and exams she had to do were unbelievable, she is now Management but still has to keep on top of what the regulators keep asking Banks for and is still doing exams, I take my hat to anyone who has to keep on top of the rules and regulations in the financial sector.

It is very hard and, of course, the cost will in the end be passed on to the consumer.

When you advise you only have to keep up to date with current rules. To deal with complaints properly you have to keep referring back to what it was decades ago. Unfortunately most of those at FOS often seem to be dealing with things that happened when they were in short trousers or even nappies but apply current standards to them.

But that brings me back to my point about competence.

I was only letting the op know that the Insurer may be a possible route and not that they would win mis sell this way.

It may be. I suggest the OP checks with FOS whether Compass Finance subscribed to the GISC code at the time and, if not, whether the insurer did. If the answer to the first question is "no" and the second "yes" then they have complaint against the insurer that they have suffered a loss directly attributable to the insurer's breach of the code.

It is, I think, unlikely that a court would find in their favour but FOS may well do.

amersall

_pale__pale_ Was expecting you to shoot me down in flames
Phew thanks Magpiecottage :cool:

magpiecottage

amersall wrote: »

_pale__pale_ Was expecting you to shoot me down in flames
Phew thanks Magpiecottage :cool:

Aw I'm getting soft in my old age!

amersall

magpiecottage wrote: »

Aw I'm getting soft in my old age!

All I can say is THANK GOD :D:D:D

chrissywill

Thanks everyone for your advice with this. Not sure what to do next, will have to think about it, but it looks like I loose.

magpiecottage

chrissywill wrote: »

Thanks everyone for your advice with this. Not sure what to do next, will have to think about it, but it looks like I loose.

You need to find out who the underwriter (insurer) is.

roonaldo

J_i_m wrote: »

You could take it to court.. but if you lost it'd be very costly. Probably best to accept defeat.

take who to court? the seller doesnt exist anymore.