Where do I start...PPI rejected

lcharles

Gosh....I'm overwhelmed with forums/blogs re the subject of PPI and now I really don't know how to continue.

I've done the first step re writing to the company complaining and using the useful template within this site. A letter has come back to me to say "because of the sale of my policy pre-dates Financial Services Authority regulation they believe my complaint is time barred under the Limitation Act 1980 - therefore they have rejected my complaint.

They also advised that it's a waste of time pursuing it with the Financial Ombudsman as the PPI policy commenced prior to regulation in January 2005 and the crux of my complaint also pre-dates regulation.

They advised it's the final response to me.

My problem is I did not know I was paying the PPI until I received a statement from the company (which it seems I'm still paying into) plus I called the Ombudsman and they advise to write a letter back to the company (probably because they cannot cope the the demand) to say I am not happy with their response and to investigate my case further.

Has anyone experience this? Can you suggest an effective letter? I guess I need to stop this payment asap..!!

dunstonh

The FOS cannot really do anything for you because its a pre-regulation case. They have no remit to act. So, they are just telling you something rather than nothing. However, if the company have said they are not going to review it because it is pre-regulation then it is unlikely that another request it going to change their mind.

By all means, write again but don't hold your breathe.

lcharles

Thanks for reply.
Out of interest would/could I get any type of claim back from when the regulation took place in 2005 until now? As mentioned before it seems that I'm paying the premium from way back prior to 2005 until I recently received the statement (which I never had before).

[Deleted User]

lcharles wrote: »

Out of interest would/could I get any type of claim back from when the regulation took place in 2005 until now?

Understand that you can only complain about the circumstances of the sale in a mis-selling complaint. If the sale took place prior to regulation in January 2005, the seller doesn't have to consider your complaint at all. It doesn't matter whether you claim you did not know about the PPI, it was sold to you in an unregulated environment so your reasoning is irrelevant.

You seem to want to cancel this insurance, if that is the case contact the provider to do so. However, do note that you won't get a refund of any payments so far made.

As you already found out, the Ombudsman cannot help you-but it's nothing to do with the number of cases they can adjudicate on.

Basically, your complaint is over.

magpiecottage

lcharles wrote: »

They also advised that it's a waste of time pursuing it with the Financial Ombudsman as the PPI policy commenced prior to regulation in January 2005 and the crux of my complaint also pre-dates regulation.

Maybe, maybe not. It depends on whether they subscribed to the General Insurance Standards Council's Code of Practice at the time of the sale.

If they did then FOS probably can look at it.