Freedom Finance

Ian_Patton

Hi All


I'm after a bit of advice please, I took PPI out, without knowing, in 2004 on a loan from Freedom Finance. So I contacted Stanton and Fisher (before reading this website lol) to act on my behalf to claim my PPI back. Freedom Finance no longer trade and sold the loan to GE money. The loan has now finished. Stanton and Fisher confirmed with GE money that PPI was taken out with this loan. But GE money have said they are not liable because they did not sell the PPI to me as they took the loan over. Stanton and fisher have replyed to me and said that they cant take the claim further because the loan was taken out in 2004 and the FCA introduced they guidelines in 2005.


What should I do next, have I a claim still.


Regards Ian

dunstonh

But GE money have said they are not liable because they did not sell the PPI to me as they took the loan over.

The seller is liable. Not the lender. Unless the seller was a staff member or direct agent of the lender.

Stanton and fisher have replyed to me and said that they cant take the claim further because the loan was taken out in 2004 and the FCA introduced they guidelines in 2005.

Also correct.

What should I do next, have I a claim still.

You havent said what your complaint is. So, its difficult to say whether you have a complaint or not. However, your issue is that your case is pre-regulation and through a broker and they dont have to consider pre-regulation complaints unless they volunteer to do so (and that is unlikely).

[Deleted User]

Ian_Patton wrote: »

I took PPI out, without knowing, in 2004 on a loan from Freedom Finance.

dunstonh wrote: »

You havent said what your complaint is.

Reading the above, his complaint that the PPI was "apparently" added to the loan without his knowledge or agreement. The problem is that, even if the case was not pre-regulation, the complaint is very weak and very likely to be contradicted by the OP's signature agreeing to the PPI on the original paperwork.

Regardless, the complaint is indeed over before it's begun.