Toomey Peugeot PPI Claim

crum

Hi

I put in a claim for PPI for insurance purchased 19 Aug 04 and my response received states the following.....

the sale of PPI at motor dealerships was not regulated by the FSA until 14 Jan 05, any sales before that time are unregulated.

As the sale of your policy was outside the scope of FSA any complaint which you may have is time barred under the 6 year statute of limitation rules and the FOS has no jurisdiction in handling this complaint.

Can anyone confirm this is accurate please?

Thanks in advance.

dunstonh

Can anyone confirm this is accurate please?

It is accurate (in respect of regulation dates - not 6 year bar). FSA regulation didnt start until January 2005. So, any sale prior to that date by someone/firm who was not a member of a predecessor regulator or official body (such as the GISC) does not have to considered under any complaint.

Banks were members of the GISC. Hence why they consider complaints going back pre-regulation. Car dealers were not (most loan brokers and mortgage brokers were not either).

magpiecottage

J Toomey Motors Ltd of
Service House
West Mayne
Basildon
Essex
SS15 6RW

Is regulated by the FSA so FOS will have jurisdiction over any sales it may have made under the GISC code.

However, it may not have done.

The six year limit is NOT accurate as you have up six years from the original event or three years from when you first became aware of a problem if that is later.

If FOS cannot consider the complaint, though, you would need to go to court where the risks to you are higher and the chances of success lower.

picky123

The six year limit is NOT accurate as you have up six years from the original event or three years from when you first became aware of a problem if that is later.

If FOS cannot consider the complaint, though, you would need to go to court where the risks to you are higher and the chances of success lower.[/QUOTE]

As this would fall outside the FOS regulation. the three year rule does not apply.

It WILL be time barred under the statute of limitations