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Are the PPI time-limits on this site correct?
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AGONY_AUNT
Posts: 3 Newbie
The advice given on the site states: "Older insurance that's still active, or ended within the last six years: You can start a reclaim. The six-year rule applies to active insurance, so a policy taken out 12 years ago but paid off five years ago was still active within the key six year period." My brother took out a 10-year loan in 2004 which was finally paid off in January 2014. PPI was included but only up to his 65th birthday (in January 2009). A claim for mis-selling was submitted in November 2012, but the company rejected it on the grounds that it was out-of-date. The Ombudsman has agreed with the company, pointing out that the claim should have been submitted within 3 years of January 2009. Is the Ombudsman wrong or is the advice given on this site incorrect?
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Comments
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You've already asked this twice
https://forums.moneysavingexpert.com/discussion/4938215
https://forums.moneysavingexpert.com/discussion/4935504Non me fac calcitrare tuum culi0 -
Also, if he was sold it prior to January 2005 as finance from a double glazing form, they won't have been regulated.Non me fac calcitrare tuum culi0
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Makes you wonder why we bother replying sometimes.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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It's a way to pass some time....Non me fac calcitrare tuum culi0
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I don't think you have told the OP what they want to hear. So here it goes, OP your brother is due thousands in compensation, he will buy a brand new BMW and fly off to the Caribbean to celebrate. Ok?0
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