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Paragon PPI 2000 non regulated
TAFKADAz
Posts: 2 Newbie
Hi I have successfully claimed some PPI from credit card companies and banks.
However my biggest loan was with Paragon finance in 2000 - 2005, they have looked at records and sent me a statement of the account but state
"We confirm PPi was taken out on this account on 24th July 2000 for £43.46 per month. The broker for this sale was Midland & General.
The sale of general insurance (including payment protection) was not regulated by the FCA until 14th Jan 2005. As the policy was taken out in 2000 in therefore falls within a non-regulated environment.
So am I right in thinking this one will be a lost cause?
However my biggest loan was with Paragon finance in 2000 - 2005, they have looked at records and sent me a statement of the account but state
"We confirm PPi was taken out on this account on 24th July 2000 for £43.46 per month. The broker for this sale was Midland & General.
The sale of general insurance (including payment protection) was not regulated by the FCA until 14th Jan 2005. As the policy was taken out in 2000 in therefore falls within a non-regulated environment.
So am I right in thinking this one will be a lost cause?
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Comments
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Hi I have successfully claimed some PPI from credit card companies and banks.
However my biggest loan was with Paragon finance in 2000 - 2005, they have looked at records and sent me a statement of the account but state
"We confirm PPi was taken out on this account on 24th July 2000 for £43.46 per month. The broker for this sale was Midland & General.
The sale of general insurance (including payment protection) was not regulated by the FCA until 14th Jan 2005. As the policy was taken out in 2000 in therefore falls within a non-regulated environment.
So am I right in thinking this one will be a lost cause?
Yes, liability for miss-sale goes to the seller. As the seller was a broker and not regulated at the time it can be dismissed without any refund so it would be pointless complainingSam 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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