PPI company sold to company in Gibralter

bazantil

We took out a loan with HFC quite a number of years ago, attempted to make a PPI claim in 2014 only to be told that the company that owned our loan then was based in Gibralter and they are not governed by the same laws and therefore we were unable to make a claim. After more takeovers it appears that we are now back in the UK with our current company. Firstly will we be able to make a claim now its back in the UK and secondly, if not, then will the Plevin claim also be ruled against?

[Deleted User]

Your post is very confusing.

Who was or is based in Gibralter? The PPI company? Or your lender?

Are you making a claim or a complaint? And about what?

bazantil

Basically our initial loan was taken out with HFC and over the years has changed to Freedom Finance, GE Money, Bespoke Finance name changed from Karacus Limited, Paragon and now Moorgate Loan Servicing (not necessarily in that order).
During one of these change or companies, our debt was eventually sold to a company that was based in Gibralter and as they are not governed by UK laws then we were not entitled to claim any PPI.
As we are now back in the UK with Moorgate is it worth trying to claim again? either PPI or Plevin?
Thanks for reading.

[Deleted User]

If your complaint has already been rejected, it's not now possible for you to complain again just because another company has taken over.

bazantil

We didn't actually put a claim in, was merely trying to ascertain who we needed to contact.

McKneff

Why do you think it was miss sold and do you have paperwork to back that complaint up

bazantil

I did have at the time I was looking into it, but when we were told that the company that now owned our debt was based in Gibralter etc I believe I shredded it (I could be wrong and will obviously have a good look). On the paperwork it did have PPI ticked on it I believe, which is why I started trying to find out what to do.

antrobus

Moorgate Loan Servicing is a specialist in administering accounts on behalf of third parties. Moorgate Loan Servicing is a trading style of Paragon Finance PLC

https://www.moorgateloanservicing.co.uk/

So Moorgate are merely adminstering the loan on behalf of someone else. Possibly Paragon, possibly another company.

This thread here has some information regarding the Bespoke Finance Limited (formally Karacus) based in Gibraltar, which also makes reference to both Freedom finance and GE Money.

https://forums.moneysavingexpert.com/discussion/979335

See also this thread here...

https://forums.moneysavingexpert.com/discussion/5165216

and here....
https://forums.moneysavingexpert.com/discussion/4323475

It all seems a bit muddy, but my best guess would be that Freedom Finance was a broker and a trading name of this Bespoke Finance based in Gibraltar. They arranged the loan from HFC that was later sold to GE Money and then Paragon (possibly). But who owns the loan is neither here nor there. The PPI policy was sold by Freedom Finance and they would have liability for the mis-sale. Except of course, that brokers weren't regulated before 2005, and Gibraltar based brokers have likely never been regulated.