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Help/Advice Needed Ref PPI Please
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Luise_2
Posts: 1 Newbie
Hi Everyone,
Got a very complicated PPI Claim and hit a brick wall I don't want the company to get away with how awful they treat their Customers so I am hoping someone knows how they can be held accountable.
Cutting a very long story short, it has gone to the FOS, but not an Ombudsman yet unless I can find out how the FOS can consider this complaint.
This is the main details from the FOS latest letter to me:
As we previously explained to you, we are only able to consider complaints about sales of PPI before 14 January 2005 (the day insurance mediation became regulated) if the seller was covered by one of our predecessor schemes at the relevant time.
The business was a member of the Mortage Code Compliance Board (MCCB) at the point of sales, which means that complaints could be considered by one of our predecessor schemes, the Mortgage Code Arbitration Scheme (MCAS). However, under the Transitional Order which gave us power to consider such complaints, we can only do so to the extent that MCAS could have done.
For the purposes of the Code a mortgage is defined as:
'a loan secured on the home which you, as a personal customer, own and occupy, unless the loan is governed by the Consumer Cedit Act 1974'
The loan is governed by the Consumer Credit Act 1974 and so MCAS would not have been able to consider your complaint. This means that I am unable to consider it either.
I am really hoping there is some way this company can be held accountable so any advice will be greatly received. It has taken me 2 years to get to this point! The Loan was taken out in October 2003.
Thank You.
Got a very complicated PPI Claim and hit a brick wall I don't want the company to get away with how awful they treat their Customers so I am hoping someone knows how they can be held accountable.
Cutting a very long story short, it has gone to the FOS, but not an Ombudsman yet unless I can find out how the FOS can consider this complaint.
This is the main details from the FOS latest letter to me:
As we previously explained to you, we are only able to consider complaints about sales of PPI before 14 January 2005 (the day insurance mediation became regulated) if the seller was covered by one of our predecessor schemes at the relevant time.
The business was a member of the Mortage Code Compliance Board (MCCB) at the point of sales, which means that complaints could be considered by one of our predecessor schemes, the Mortgage Code Arbitration Scheme (MCAS). However, under the Transitional Order which gave us power to consider such complaints, we can only do so to the extent that MCAS could have done.
For the purposes of the Code a mortgage is defined as:
'a loan secured on the home which you, as a personal customer, own and occupy, unless the loan is governed by the Consumer Cedit Act 1974'
The loan is governed by the Consumer Credit Act 1974 and so MCAS would not have been able to consider your complaint. This means that I am unable to consider it either.
I am really hoping there is some way this company can be held accountable so any advice will be greatly received. It has taken me 2 years to get to this point! The Loan was taken out in October 2003.
Thank You.
0
Comments
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Your complaint is pre-regulation and for it to get this far two years on, you must have had other letters explaining this to you already.I am really hoping there is some way this company can be held accountable so any advice will be greatly received. It has taken me 2 years to get to this point! The Loan was taken out in October 2003.
Basically, your complaint is going nowhere as FOS can't adjudicate and you've wasted your time pursuing this past the original complaint stage.
Time to move on from this.0
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