Old ppi 19 years not mainstream banks

Gee_jay

I took out a loan 1998 60 months paid in full with Colonial finance now Chatham finance I had ppi but was told I would have a better chance of getting loan with ppi.
I have original agreement and letter from Chatham confirming the takeover of colonial .
I have sent these to a claims company and they have told me that the sale took place before the finance company was not regulated , this means Colonial was not required to follow guide lines now set by the current regulator, and this would make my complaint very weak.
And unlikely to be investigated. My agreement states that it is regulated by the 1974 consumer credit act.
Should I forget it or are my claims company cherry picking as they are pursuing my other claims.
Thank you for any input on this.

[Deleted User]

Claims companies don't cherry pick. They'd fish a half eaten sandwich out of a bin if they saw one.

Given all they do is stick a stamp on an envelope, if they're not even willing to spend 60p on your case, you know it's a loser.

dunstonh

I have sent these to a claims company and they have told me that the sale took place before the finance company was not regulated , this means Colonial was not required to follow guide lines now set by the current regulator,

Regulation of insurance started Jan 2005. Banks were members of an earlier body. That is why they have to go back further. However, brokers and small lenders do not.

So, considering yours is 1998 and repaid by 2003, the information seems correct.