Will Pelvin make any difference?

forestfirecracker

Hi I Will try and keep this short.

In 2005 my partner and i took out a loan with The Alliance and Leicester. It was paid off early in 2008. There was PPI attached to the loan which was sold to me over the phone by one of the brokers.

I didn't know at the time that it had been sold to me or what it really was.

I recevied a letter in Feb 2009 saying that I may have been mis sold and that i needed to contact them if I so wish to pursue it. Naivley I didn't really know at the time what the letter was referring to so I ignored it and the subsequent letter they sent to me to ask if I wanted to make a complaint.

Fast forward to this year and after seeing how easy it is to make a claim and sure that there would have been PPI on the loan I contacted Santander to make a compliant.

In the post today I have had a letter that tells me that due to the fact that they wrote to me twice in 2009 that the complaint is time barred as I had not complained in 3 years. so I am basically being told to get lost.

Can anybody advise if this is correct?
Am I being fobbed off?
Should I just drop it?
Or should i complain to the Financial ombudsman?

Personally I feel that as I was unsure what I was being sold when the policy was taken out how would I have a better understanding of it 3 years later when they wrote to me and I had in fact paid off the loan early so didn't have any of the paperwork.

Just really looking for some sort of support or advise on if its worth carrying on with or should I just let it go.

Thanks in advance

[Deleted User]

Plevin only applies to rejected complaints, but your complaint isn't even being considered because it's time-barred. Plevin will never therefore apply in your case.

You ignored the Bank's letters for too long and now you will have to accept that you are too late.

Sorry.

Nasqueron

A correctly applied time bar cannot be overturned unless the firm agrees to it I'm afraid. This complaint would appear to be over

dunstonh

Fast forward to this year and after seeing how easy it is to make a claim and sure that there would have been PPI on the loan I contacted Santander to make a compliant.

Santander had already made it easy for you by letting you know in 2009 that there may have been an issue and what to do if you felt it was mis-sold. So, their method was even easier than other methods available.

Can anybody advise if this is correct?
Am I being fobbed off?
Should I just drop it?
Or should i complain to the Financial ombudsman?

Yes it is correct.
No you are not being fobbed off
Yes you should drop it
You dont have access to the FOS.

Personally I feel that as I was unsure what I was being sold when the policy was taken out how would I have a better understanding of it 3 years later when they wrote to me and I had in fact paid off the loan early so didn't have any of the paperwork.

It doesnt mater. You received a letter letting you know the issues and potential complaint reasons and inviting you to complain. You didnt act on it and the 3 year timebar has kicked in.

Agricolae

Pretty much as others have said.

However...

A complaint about mis-sold PPI may not be the same as a complaint about an unfair relationship being created between borrower and lender due to the non-disclosure of commission on that PPI.

But then again, it may be. The dust has not even really begun to settle since the FCA's policy announcement and the rules are complex around time limits. It's up to the OP what they do, and they really should have complained much earlier, but I wouldn't necessarily say they should give up at this point.

-taff

Their complaint wasn't rejected, it was time barred.
Plevin applies to those who have been rejected.
Or at least it does so far.

Agricolae

-taff wrote: »

Their complaint wasn't rejected, it was time barred.
Plevin applies to those who have been rejected.
Or at least it does so far.

I guess we will have to wait and see how the banks and FOS interpret the new FCA rules.

dunstonh

It is possible that plevin could be applied here. So, I am not going to rule it out. Whilst a new complaint is futile asking them to look at it again because of plevin could result in success (or may not)

[Deleted User]

-taff wrote: »

Or at least it does so far.

Indeed, the rules have been changed before and they could be again.