Endowments, missold

NatSar64

Just had a phone call (didn't get their name) phone No 01803210300. Saying I could be entitled to money back regarding Endowment policy. We cashed in our policy's approx 8 yrs ago knowing there was a short fall, but the money came in useful for paying off some debts and doing home upgrades. Would like to know if it is still possible to get any money back or am I out of time.

Did ask them to send more info via Email, nothing back as yet

McKneff

They have cold called you.

They are just scamming, they would have no idea before they picked the phone up whether you had an endowment policy or any other debt.

You took your payment some years ago and would have signed in full and final settlement as to the figure.

Never take any notice of cold callers, they are untimately after your money.

holly_hobby

As stated this is a cold calling company.

It is probable that you are timebarred on any mis-sale re suitability (not poor performance), as you had 3 yrs from receipt of your 1st red letter to lodge any complaint.

The fact you surrendered this some 8 yrs ago, in the knowledge it had a shortfall to target, tells me that you are well out of time on this ... and there is no merit or basis to lodge any claim, which would be routinely rejected on the above reasons.

My advice, forget the call, and the jokers that made it.

Hope this helps

Holly

dunstonh

Would like to know if it is still possible to get any money back or am I out of time.

Over 3/4 of endowments are timebarred from complaint.

Seeing, as Holly says, that you have three years from being reasonably aware of an issue to make a complaint and the surrender was 8 years ago knowing that a shortfall position existed, it would seem likely that a timebar could be applied.

There are only a few companies still cold calling as the issue is largely over now. One starting with the letter E is doing the rounds but they are well known for telling porkies and putting in fake complaints. You dont mention who was spamming you but if they began with the letter E, walk away.

Annisele

I'm pretty sure I know who Dunstonh is talking about - but even if the company name doesn't begin with E, I still think you should walk away.

If you do have a valid complaint, you can deal with it yourself - and then you won't have to pay a third of your compensation to a claims management company.

If you don't have a valid complaint (and from the sounds of it you really don't), then you can save yourself some time by leaving it be.

holly_hobby

If the complaint would surround suitability (ie unaware target sum not gted) - which it sounds as though it would - this was effectively timebarred at the VERY latest in 2008 (ie - working backwards from the 8 current yrs since surrender (= 2005 discovery), then taking account of the +3 yr window of opportunity from discovery (= 2008) - and then this date only applies IF this was the first time he became aware of the non-gte nature of the target sum) - which I doubt.

In reality, I suspect he's probably timebarred from as far back as early to mid 00's - bearing in mind that the industry revised emv exercise had commenced by 2000 - which is when the first indication of trouble was indicated by providers via red and amber EMVs being issued (although it has to be said, some EMVs were initially green, subsequently changing as the continuing poor rtns and losses deepened over time).

Anyhoo, this complaint (cetainly if ATR based) is definately a dead duck - which I know may be disappointing OP, but nevertheless is the case I'm afraid.

Hope this helps

Holly x