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PPI claim made in 2002 - time-barred?
Moderato
Posts: 1 Newbie
Hi,
Can anyone give advice on our case?
We took out a loan with GE finance (formerly First National) back in 2002. We made a complaint about the PPI in 2002, before PPI claims were publicised, but was fobbed off by them. At that time we didn't think we would succeed, so we didn't pursue it.
Last year, after hearing about the PPI scandal, the flames of my indignation were reignited and I decided to try again, but this time was fobbed off with the 'time-barred' excuse.
Do we have a leg to stand on? Does the fact that we 'claimed' at the time mean the case is not time-barred? Does the fact that they were more-or-less defrauding us make a difference?
To clarify, the circumstances were as follows:
We applied for the loan and were visited at home by a 'Purple Loans' rep.
When filling the form, he didn't say the PPI premium was loaded on to the loan up front - the form we signed showed the correct monthly repayment, but did not show the PPI premium or total loan value including PPI.
He didn't quote us a monthly repayment that excluded PPI, or even indicate that we could take the loan without PPI at a lower monthly repayment, so we didn't realise it was higher than would have been without PPI.
He didn't leave a copy of the signed loan form with us when he left.
We didn't receive the loan documents until after the 'cooling off period. When we got them, additional fields containing the PPI lump sum and the total (loan + PPI) were filled in.
We took the loan so I could start a business. However, my wife was in secure professional employment with a high salary and her own sickness insurance, so we didn't need the PPI. We told this to him but he said the 'beauty' of the loan he was offering was that PPI was included in the cost.
So we were duped. You can say we were fools, and should have paid more attention to which parts of the form had been left blank, and what the terms said, but he was a smooth operator and had gained our trust.
We wrote to them shortly after, complaining and asking for the £3000 or so back, but they turned us down flat. At that time, we didn't think we would succeed and so didn't pursue it.
Only last year, after seeing the PPI scandal did we write again, but then they said the case was time-barred.
Thanks, if you made it to this point, and any advice would be really appreciated.
Regards,
PPI Dupe.
Can anyone give advice on our case?
We took out a loan with GE finance (formerly First National) back in 2002. We made a complaint about the PPI in 2002, before PPI claims were publicised, but was fobbed off by them. At that time we didn't think we would succeed, so we didn't pursue it.
Last year, after hearing about the PPI scandal, the flames of my indignation were reignited and I decided to try again, but this time was fobbed off with the 'time-barred' excuse.
Do we have a leg to stand on? Does the fact that we 'claimed' at the time mean the case is not time-barred? Does the fact that they were more-or-less defrauding us make a difference?
To clarify, the circumstances were as follows:
We applied for the loan and were visited at home by a 'Purple Loans' rep.
When filling the form, he didn't say the PPI premium was loaded on to the loan up front - the form we signed showed the correct monthly repayment, but did not show the PPI premium or total loan value including PPI.
He didn't quote us a monthly repayment that excluded PPI, or even indicate that we could take the loan without PPI at a lower monthly repayment, so we didn't realise it was higher than would have been without PPI.
He didn't leave a copy of the signed loan form with us when he left.
We didn't receive the loan documents until after the 'cooling off period. When we got them, additional fields containing the PPI lump sum and the total (loan + PPI) were filled in.
We took the loan so I could start a business. However, my wife was in secure professional employment with a high salary and her own sickness insurance, so we didn't need the PPI. We told this to him but he said the 'beauty' of the loan he was offering was that PPI was included in the cost.
So we were duped. You can say we were fools, and should have paid more attention to which parts of the form had been left blank, and what the terms said, but he was a smooth operator and had gained our trust.
We wrote to them shortly after, complaining and asking for the £3000 or so back, but they turned us down flat. At that time, we didn't think we would succeed and so didn't pursue it.
Only last year, after seeing the PPI scandal did we write again, but then they said the case was time-barred.
Thanks, if you made it to this point, and any advice would be really appreciated.
Regards,
PPI Dupe.
0
Comments
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You should have continued in 02 with this, as this was taken out before regulation on 14th January 05 the FSCS cannot help you likewise the FOS.
You could try to find out who the insurer was and make a claim to them, this could also get you nowhere.0 -
It's not an "excuse", your complaint was concluded twelve years ago when you accepted their original rejection. The circumstances are completely irrelevant as you are legally time-barred from advancing this any further and you have no access to the Ombudsman.was fobbed off with the 'time-barred' excuse.
Time to move on from this...0 -
It may not be timebarred if they did not tell you that you had six months to go to FOS.
But only FOS can make a call on that.0
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