PPI Claim - 16 months later

blastarhymes

Hi guys just thought i would drop a message,

I put a claim into Greenhill finance/GE Money for a loan i had and yes it had PPI on it, this was a 5 year loan taken 2005/6 ish,

The loan has since been settled, but upon receiving my claim, GE have said its down to Greenhill as they did the selling and GE have said, Sorry its outside of timescales.

So i followed a few suggestions on here and wrote off to the FO, i sent them my prof of PPI, the settlement documents etc, 12 months later they came back to me to say Greenhill had said they won't pay because its outside of timescales, the FO are still looking at this but have not come back to me for a while, shoudls i still be hopeful ?

is there any sort of time limit on a PPI claim, i have all the documentation and i was mis-sold the polacy.

Brokerwise

blastarhymes wrote: »

Hi guys just thought i would drop a message,

I put a claim into Greenhill finance/GE Money for a loan i had and yes it had PPI on it, this was a 5 year loan taken 2005/6 ish,

The loan has since been settled, but upon receiving my claim, GE have said its down to Greenhill as they did the selling and GE have said, Sorry its outside of timescales.

So i followed a few suggestions on here and wrote off to the FO, i sent them my prof of PPI, the settlement documents etc, 12 months later they came back to me to say Greenhill had said they won't pay because its outside of timescales, the FO are still looking at this but have not come back to me for a while, shoudls i still be hopeful ?

is there any sort of time limit on a PPI claim, i have all the documentation and i was mis-sold the polacy.

The rules are six years after the event complained about, or three years after you first became aware that you may have grounds for complaint, whichever is longest.

You must complain to the ombudsman within six years of the event complained about, or three years after you first became aware that you may have grounds for complaint, whichever is longest. So if you only became aware of the PPI mis-selling within the last three years
you can complain. This is interesting in itself regarding the lifespan of PPI complaints in general - when is the three year period up? Unless you live on Mars I would say it is there or there about's now.
When did this forum start ? I would say most people would be aware of the PPI 'scandal' by 2010/2011 at the very latest.

dunstonh

shoudls i still be hopeful ?

No.

is there any sort of time limit on a PPI claim, i have all the documentation and i was mis-sold the polacy.

Regulation on insurance did not start until January 2005. There were some voluntary bodies prior to that or earlier organisations that some firms belonged to which give continuation of consumer protection (the banks for example have to consider further back for that reason). However, most brokers, advisers, dealers, retailers etc were not and do not need to consider pre Jan 2005 sales complaints.

GE have no liability as they didnt sell it. The complaint is not about the product. It is about the sale of the product. The seller has the liability but as this is pre-regulation they can reject it. In a very very small number of cases, an insurer can carry the liability depending on the commercial arrangement and the date it occurred. It is unusual and only results in success in a tiny minority of cases.

Brokerwise

dunstonh wrote: »

No.


Regulation on insurance did not start until January 2005. There were some voluntary bodies prior to that or earlier organisations that some firms belonged to which give continuation of consumer protection (the banks for example have to consider further back for that reason). However, most brokers, advisers, dealers, retailers etc were not and do not need to consider pre Jan 2005 sales complaints.

GE have no liability as they didnt sell it. The complaint is not about the product. It is about the sale of the product. The seller has the liability but as this is pre-regulation they can reject it. In a very very small number of cases, an insurer can carry the liability depending on the commercial arrangement and the date it occurred. It is unusual and only results in success in a tiny minority of cases.

This is not a pre 2005 sale though unless I am missing something

blastarhymes

well the loan would have been taken after Jan 2005 so would be within the regulation on insurance period ?

And regards - The rules are six years after the event complained about or 3 years after when you realized -

does this mean the date the loan started or the last time the loan was active, ie i made final payment in about 2009/10 (settled early)

I wrote to the FO over mid to end 2012 so if i became aware around 2010/11 i was certainly within the 3 year scale for acting on it,

I think i have written the money off and if it does come through it will be a nice bonus, i think the amount was £1950 + interest for quite a few years now.... but we will see

Brokerwise

blastarhymes wrote: »

well the loan would have been taken after Jan 2005 so would be within the regulation on insurance period ?

And regards - The rules are six years after the event complained about or 3 years after when you realized -

does this mean the date the loan started or the last time the loan was active, ie i made final payment in about 2009/10 (settled early)

I wrote to the FO over mid to end 2012 so if i became aware around 2010/11 i was certainly within the 3 year scale for acting on it,

I think i have written the money off and if it does come through it will be a nice bonus, i think the amount was £1950 + interest for quite a few years now.... but we will see

six years after the sale took place so that is out of the window but you qualify on the three year rule - what is the basis for the complaint and subsequent mis-sale?

blastarhymes

erm, i received sick pay from work..i was actually off sick in the period and claimed it (sick pay from work that is), the contract i signed had a pre authed computerized tick already in the PPI box, and was told at point of sale it would help me get the loan if i spent additional money with them....young stupid and desprate i belive, lol

blastarhymes

Timely update - Spoke to the FO today, there are a group of us all who have been rejected by Greenhill finance based on time scales, the fo are saying were within the 3 years and there saying were not, Green hill now have to prove that we know over 3 years ago and that the time is up, so when they cannot do this (As if i new sooner i would have claimed sooner) we will all be passed for assessment. Told i would get an update in a couple of months.....

Insider101

Brokerwise wrote: »

The rules are six years after the event complained about, or three years after you first became aware that you may have grounds for complaint, whichever is longest.

You must complain to the ombudsman within six years of the event complained about, or three years after you first became aware that you may have grounds for complaint, whichever is longest. So if you only became aware of the PPI mis-selling within the last three years
you can complain. This is interesting in itself regarding the lifespan of PPI complaints in general - when is the three year period up? Unless you live on Mars I would say it is there or there about's now.
When did this forum start ? I would say most people would be aware of the PPI 'scandal' by 2010/2011 at the very latest.

You would have thought so but you would be surprised how many people never give a second thought to the possibility they may have been affected.

Both FCA and FOS have made it clear that they will not accept general publicity as an acceptable reason to impose a timebar. Basically if the bank are going to do this, they need to show that in this individual case the customer meets the three year criteria, I.e that they had reason over three years ago to be aware that they might have been affected.

This is one of the reasons why they are sending proactive letters out advising customers that they may have been impacted. A personalised letter to the customer's address will suffice to show that they ought to have been aware. Hence, three years after sending the letter out they can timebar any future complaint.

blastarhymes

This is one of the reasons why they are sending proactive letters out advising customers that they may have been impacted. A personalised letter to the customer's address will suffice to show that they ought to have been aware. Hence, three years after sending the letter out they can timebar any future complaint.

Well they certainly did not send any letters out, they were a bit of a dodgy company by the sounds of it and also have now ceased trading under that name, the fo are dealing with them under a different name now (Greenhill finance t/a The Loans Company)

just going to sit back and wait now, we have written the money off but if we get something back in it will be a nice little rain day pot.