Are GE Money passing the buck

roonaldo

calce1987 wrote: »

A selling complaint can still be registered if the policy was active within the last six years, wether it was after 2005 or not. Below is an exter from Martin Lewis' piece in the Express some time ago

"How far back can I go?

As long as the PPI was active within the past six years (or is still active), then reclaiming is fine: for example, you took it out in the Nineties but were still paying it five years ago. For older policies, you can still try to reclaim (and some succeed), but the chances are lower"

thats not relevant to this case, you are talking about a company that wasnt regulated at the time of the sale and isnt under FOS jurisdiction.

what you have quoted would be relevant to DPA, as most firms ditch certain records after 6 years.

calce1987

Can I just ay then that I would suggest you contact Anglian, and let us know what they say. I think you'll find that they will investigate your complaint (even if dunstonh is correct and they don't have to) as I am speaking from experience when I say companies (including my previous employer) will still investigate claims prior to 2005.

[Deleted User]

calce1987 wrote: »

I think you'll find that they will investigate your complaint (even if dunstonh is correct and they don't have to)

Yes, they would look at any complaint and (after investigation) reply that they are not going to uphold the complaint because they were not regulated at the time of the sale!

Dunstonh and Roonaldo are correct and there are numerous examples posted on this forum as evidence of this...

magpiecottage

calce1987 wrote: »

As long as the PPI was active within the past six years (or is still active), then reclaiming is fine: for example, you took it out in the Nineties but were still paying it five years ago. For older policies, you can still try to reclaim (and some succeed), but the chances are lower"

The six year reference is a red herring. The question is whether there is evidence.

If neither party has any then the complaint will founder.

The widespread misconception seems to have been borne out of a combination of:

• Section 14A of the Limitation Act 1980 which says a claim can be timebarred if it is more than six years since the event giving rise to that claim and more than three years from the date on which the complainant ought to have realised they had grounds to make a claim;
• FSA rules giving the same time limits;
• FSA guidance indicating that records should be held for at least six years from the date of sale;
• HMRC requirements to hold tax records for at least six years.

The problem is that if you took out a PPI policy on a loan which was paid off six or seven years later, then there is no longer a need to keep the records.


In addition, if the PPI was sold by somebody else then the lender will have no record of that sale anyway.


As far as Anglian is concerned, if the sale took place on or after 14 January 2005 then it is covered by the FSA handbook and FOS has jurisdiction.


Prior to that and it is not and the only way to force redress is through the courts - which have been far less inclined to find in favour of consumers on this issue.

dunstonh

http://forums.moneysavingexpert.com/showpost.php?p=47345325&postcount=18

response on another thread from Anglian windows.