PPi Credit Plus / British Credit Trust

andygoss

Hi Guys

I'm after some great advice, like most on here, I've been on the forums for a while, I didn't really think I would get much success, however following a rescent win from Black Horse (only took 4 years...) it spured me on to claim back the money that was coned out of me with the bad bank/sales ethics. Like many on here I have a poor credit history, which meant when I have needed finance, as in really needed, I have had to accept whaty I could get, bringing me to my current question.

25/07/05 I entered a hire purchase agreement with British Credit Trust to buy a car, I found the paperwork for the agreement the other week and there is £25.82 per month of the agreement different to what it said I needed to pay per month and what I did, when looking at the schedule it says the total monthly payment not broken down, overall it really isn't clear. When I was sold the agreement I was just sold the total monthly cost, wasn't explained PPI and it really wasn't something I needed. I was desp for a car at the time so was just over the moon to get it sorted so didn't really query it at the time.

I used a format letter on here and emailed BCT last week, who next day told me it was nothing to do with them and that I would need to go to the broker, Credit Plus, details I found online, 48 hours later I received a letter back from them as a Final response, the part of this I am asking about is the final paragraph:

Under the relevant FSA rules DISP 2.8.2 complaints must be made within 6 years of the event complained of, if later "3 years from the date on which the complainant became aware (or ought to have become aware) that he had cause for complaint. However your claim predates our clients regulation with the FSA. As such we need to make you aware that your claim is out of time and rejected in accordance with section 5 of the limitation act 1980.

Is this right, confussed me as I had read all PPI was under the same regs since Jan 2005 and also I have seen many people successfully recover older claims.

I appreciate any help, also sorry if this issuer has been submitted before but couldn't find it.

Regards

Andy

dunstonh

Is this right, confussed me as I had read all PPI was under the same regs since Jan 2005 and also I have seen many people successfully recover older claims.

The rule they quote does exist. However, they are applying it strangely.

There has to be a trigger point for the 3 year clock to start ticking. Such as them writing to you to say you have PPI and can complain if you wish.

However, in this case, they are saying that at the point of sale, they were not regulated and therefore do not have to consider the complaint. That seems strange as you say you entered into contract on 25th July 2005. That is post regulation (although it is the date of application that matters. Not the date of advance. So, that would suggest they are saying that either they didnt sell it to you (someone else did) or you have your date wrong.

I have looked on the FSA register for Credit Plus and there is only one company with that trading name and they were not authorised in 2005. So, do you have the right company?

andygoss

Hi, the company British Credit trust refered me to is Which Deal t/a Creditplus Ltd. The response came from a legal department saying they were acting on their behalf, I'm at work at mo so not got the name of that. The date I have is right, I actually have copies of the agreement and letter with the schedule.

Thanks for any advice, am I best just scanning in all the letter, agreements etc and sending to the ombudsman any way or will they just throw it out.

dunstonh

Hi, the company British Credit trust refered me to is Which Deal t/a Creditplus Ltd.

That company is the one I saw on the FCA register. They were not authorised at the time you say you did it. So, their rejection makes sense. If you were not authorised at point of sale then you couldnt have done it or it was arranged pre-regulation.

Is it possible that they arranged the loan (which they would have been able to do at that time as it was unregulated) but the PPI was added post sale by british credit trust Are you sure its PPI?

andygoss

The payment schedule states it included ppi, this schedule was a letter by British credit trust that they sent after the loan was accepted and there was only the total payment to them each month, it was them that refered me to the credit plus company, they didn't deny I had it, they confirmed I had, just that they were not regulated at the time, surely that means they were not even allowed to sell it in the first place...

dunstonh

were not regulated at the time, surely that means they were not even allowed to sell it in the first place...

Correct. If the application was completed after 13 Jan 2005 then they had to be regulated to sell it.

I think the best thing to do now is to go back to this company and point out that it was bought via them after regulation began and what they are saying is that they appear to have sold it to you unlawfully as they should have been regulated and on that basis, do they wish to change their mind. Otherwise you will go to the FOS and you will let the FCA know that they were selling regulated products whilst unregulated.

If they still reject after that, then go to the FOS.

andygoss

Thanks for the advice, I will do that tonight, as they were so fast responding I'm sure it wont take them long to reply ��

andygoss

Looks like I'm out of luck, their agreement letters state they were members of the FLA, upon looking at the FLA site they wont review the case as they have stated in the final response that it was out of time and you can only go to the FOS if it was after April 2007.

Was gonna post the FLA website but I cant, however google FLA and PPI and it comes up.

Not sure where to go with it now, I was miss sold but looks like the business get away with it in this case, would love to know how others successfully reclaim older car loan PPI...

paulahow71

Hi we purchased a car through BCT IN 2002 I wrote a letter to Peoples who sold us the car and they said they had no information on the car as it was so long ago, I was tolD to contact BCT. The only way I found to contact them was via email Alistair which I did 4 months ago but to no avail. Then I found his mobile number to which I have left 3 voicemails, again to no avail. Can anybody help us with a direct number to contact them please

[Deleted User]

paulahow71 wrote: »

Hi we purchased a car through BCT IN 2002 I wrote a letter to Peoples who sold us the car and they said they had no information on the car as it was so long ago, I was tolD to contact BCT. The only way I found to contact them was via email Alistair which I did 4 months ago but to no avail. Then I found his mobile number to which I have left 3 voicemails, again to no avail. Can anybody help us with a direct number to contact them please

You are wasting your time with this because the sale of this insurance took place prior to regulation in 2005. In addition, you've already been told they no longer have any records.

I certainly would not be calling any individual's personal mobile number as that might be construed as harassment.

Your complaint has already been rejected by the seller and you have no access to FOS or the FLA. It's game over for you.

30somethin

andygoss wrote: »

Hi Guys

I'm after some great advice, like most on here, I've been on the forums for a while, I didn't really think I would get much success, however following a rescent win from Black Horse (only took 4 years...) it spured me on to claim back the money that was coned out of me with the bad bank/sales ethics. Like many on here I have a poor credit history, which meant when I have needed finance, as in really needed, I have had to accept whaty I could get, bringing me to my current question.

25/07/05 I entered a hire purchase agreement with British Credit Trust to buy a car, I found the paperwork for the agreement the other week and there is £25.82 per month of the agreement different to what it said I needed to pay per month and what I did, when looking at the schedule it says the total monthly payment not broken down, overall it really isn't clear. When I was sold the agreement I was just sold the total monthly cost, wasn't explained PPI and it really wasn't something I needed. I was desp for a car at the time so was just over the moon to get it sorted so didn't really query it at the time.

I used a format letter on here and emailed BCT last week, who next day told me it was nothing to do with them and that I would need to go to the broker, Credit Plus, details I found online, 48 hours later I received a letter back from them as a Final response, the part of this I am asking about is the final paragraph:

Under the relevant FSA rules DISP 2.8.2 complaints must be made within 6 years of the event complained of, if later "3 years from the date on which the complainant became aware (or ought to have become aware) that he had cause for complaint. However your claim predates our clients regulation with the FSA. As such we need to make you aware that your claim is out of time and rejected in accordance with section 5 of the limitation act 1980.

Is this right, confussed me as I had read all PPI was under the same regs since Jan 2005 and also I have seen many people successfully recover older claims.

I appreciate any help, also sorry if this issuer has been submitted before but couldn't find it.

Regards

Andy

Hi Andy,

Just wondering if you ever got anywhere with this? Im in exact the same boat but i took my finance out in 2007.

Thanks
Becs