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PPI reclaim rejected.
GlennTheBaker
Posts: 2,977 Forumite
I have been helping a relative to claim ppI. The response from the Finance company is that a PPI claim was raised in 2012 and rejected and is now being rejected 2017 due to commission? Stating "I can confirm the commission was 41.32% as the commission is below 50% no refund is due".The letter advises the complaint is now closed. I have not come across this before. Is it best to leave or next step Ombudsman?
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The PPI complaint has already been rejected once, and is out of time for the ombudsman. The only other complaint would have been the commission, if it had been over 50% you would have got the surplus back.
Your complaint is over.
You don't have access to the Ombudsman.Non me fac calcitrare tuum culi0 -
GlennTheBaker wrote: »I have been helping a relative to claim ppI. The response from the Finance company is that a PPI claim was raised in 2012 and rejected and is now being rejected 2017 due to commission? Stating "I can confirm the commission was 41.32% as the commission is below 50% no refund is due".The letter advises the complaint is now closed. I have not come across this before. Is it best to leave or next step Ombudsman?
The complaint was rejected in 2012 and the opportunity to go to the ombudsman expired 6 months after that.
There has been a new development referred to as Plevin where the FCA have instructed that, on rejected complaints, if the commission on the PPI was over 50%, then the amount over the 50% threshold should be refunded. e.g. if the commission was 52%, then the 2% should be refunded.
They have said that it was 41.32% and therefore below the 50% threshold and nothing is refundable.
You cannot go to the ombudsman.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 -
You cannot keep complaining about the same finance. Once rejected by the Ombudsman, the complaint closed.
This case came to a final conclusion five years ago.
Time to move on from this...0 -
Thank you very much for all the information. The complaint has never been to the Ombudsman so not rejected by them.This space has been intentionally left blank0
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GlennTheBaker wrote: »Thank you very much for all the information. The complaint has never been to the Ombudsman so not rejected by them.
You get 6 months from a rejection of a COMPLAINT to go to the FOS otherwise you can't refer to them.
It's hard to tell here because you have used "reclaim" and written "claim" twice, you claim on the insurance if you have event such as losing your job and need the PPI policy to pay out. If you mean your relative complained and was rejected in 2012 then you are out of time for the FOS.
The company has simply checked their records in case Plevin applied, have confirmed it doesn't and have reiterated the original rejection.Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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Regardless, a five year old complaint (rejected by the bank at that time) cannot now be referred to the Ombudsman. You made a "new" complaint this year, but it is the SAME complaint.GlennTheBaker wrote: »The complaint has never been to the Ombudsman so not rejected by them.
This case came to a final conclusion five years ago.
Time to move on from this...0
This discussion has been closed.
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