PPI Confusion

Cossy

Hi some advice please.
Found all our mortgage paper work and it clearly states that we have paid over £5600 for protection in 2003. I spoke to the mortgage lenders and they said it was nothing to do with them. So after more digging the payment was to the advisor Carrington Carr Ltd.
I have read that Carrington Carr Ltd. no longer trade? Is this correct and if so can a claim still be made as I would guess they would be underwritten by someone.

magpiecottage

No - your complaint is with Carrington Carr. However, since they never fell under the direct jurisdiction of FOS (and have now gone bust anyway, I believe) you have nowhere to go.

If it was on or after 31 October 2004 you could complain to Legal & General but not for a 2003 sale.

Cossy

Thanks Magpiecottage.
Just seems strange that a company that had so many finacial awards can go bust and rise again with a different name. Is there no other means of progressing this?

dunstonh

Just seems strange that a company that had so many finacial awards can go bust and rise again with a different name

Awards are a gimmick. Never buy on awards. For example, one of the worst stakeholder pensions there is, the Virgin Stakeholder, is one that has had many awards. Most awards are given on the level of business provided, or how much advertising that company has made in the magazine or scratching of backs. Vote for us this year and we will vote for you next year.

Is there no other means of progressing this?

No. FSCS protection didnt begin until 2005 and only applies to cases bought after that. Not before.

Cossy

Ok Thanks for your help.
I think it is bad that a finacial advisor can come round. Advise someone (suggesting that they would not have a mortgage offer without the protection). Then fold the company and restart again with no come back. Reminds me of the double glazing compaines back in the 90's. That appeared on the watch dog programme.

dunstonh

I think it is bad that a finacial advisor can come round. Advise someone (suggesting that they would not have a mortgage offer without the protection). Then fold the company and restart again with no come back. Reminds me of the double glazing compaines back in the 90's. That appeared on the watch dog programme.

They were not financial advisers. They were mortgage advisers. However, i agree with the sentiment and so does the FSA. It now looks out of companies attempting to phoenix.