Time Barring

KIMY

Can anyone explain full context of time barring as l had a loan through First National who do not exist now, this complaint of PPI on this loan of front loaded over £10k was referred to FOS in May 2010 against underwriter Cardiff Pinnacle and they are stating "Time Barred" as loan paid off in full at beginning of 2004 . My adjuicator is trying to fight this as l did complain about Insurance rebate in 2004 to GE Money as loan run for only 18 months and only £2040 rebated and they gave me another £2700 as a goodwill gesture.
I am a bit baffled because l have all original paperwork which clearly shows box was automatically ticked and clearly know one will take responsibility.
Cardiff Pinnacle is the broker and where regulated, do l stand any chance or is it just wishful thinking for all this miss justice

antrobus

KIMY wrote: »

Can anyone explain full context of time barring ....

A PPI mis-sale complaint would be 'time barred' six years after the date of the sale or three years from the date on which you realised there was a potential complaint, whichever is the later.

KIMY

But l never realised or aware until all publicity in 2010 that it was optional and therefore missold. And have read on this great forum many banks and financial institues including Cardiff Pinnacle have accepted liability and paid back people. This is why l am baffled and also why the FOS are still trying to investigate this and after 3.5 years l thought a decision by FOS would been made. Thank you for your advice

McKneff

Just because you didn't realise it wasn't optional, doesn't make it a miss sale, you would have had to signed to say you accepted it.

-taff

Cardiff Pinnacle didn't sell it to you, FN did. CP have no liability for the sale at all, and the FOS, as you've been told before, is just trying to use you as a test case for future complaints.

You're not likely to see any money back. Forget about it completely until there's a resolution

KIMY

Many thanks Taff l think you are right xx

PPIRanger

CP are liable for pre-ICOB First National/GE sales. Being out of time is a different matter, however. If it's six years since the sale and three or more years since you ought to have become aware you had cause to complain, you're stuck.

[Deleted User]

PPIRanger wrote: »

Being out of time is a different matter

This thread is from 2013.

PPIRanger

Yes, I can see the date stamps.

[Deleted User]

PPIRanger wrote: »

Yes, I can see the date stamps.

So why bump up an old thread? OP was satisfied with the answers given last year.

PPIRanger

The answer was wrong.