PPI Reclaims not covered by the FOS

maxdp

PaulinWeston wrote: »

Many thanks to Di3004 for her very good advice... Anybody had any luck with "Statute Bars"? I'm told that I can't complain because the loan agreement / PPI started more than 6 years ago (6 years and 2 months!!!). Is there a way to get around this - or do I give it up

Hi Paulin

Who told you that it was statute barred. It is 6 years from the time the agreement finished not started. They would keep or should keep the paperwork up until you finished paying the loan. Am sure that is the case.

maxdp

Hi Di

Have pm'd you.:rotfl:

di3004

Hi Max and thanks.:D

Arms are pretty heavy after the fastings/bloods drawn on both of them today lol, I'll manage though, I should be used to it by now, but I will be fine thanks for message.:A x

petermb_2

PaulinWeston wrote: »

Many thanks to Di3004 for her very good advice... Anybody had any luck with "Statute Bars"? I'm told that I can't complain because the loan agreement / PPI started more than 6 years ago (6 years and 2 months!!!). Is there a way to get around this - or do I give it up

Dont be fooled by yet another red herring. If you have a copy of the agreement you will be able to claim successfully, even if the loan has already been repaid.

PaulinWeston

Thanks everyone!

PaulinWeston

Hi Everyone! I'd just like to say that I've been in contact with a barrister who is specialising in all types of PP claim.... Boy-oh-Boy WHAT a revelation....... There's so MUCH to say but get this:

If you were mis-sold PPI then there are arguments that the WHOLE credit agreement is unenforceable. This means that you could be claiming not just the PPI (plus interest) but ANY interest charged under the agreement too!!!

His answers to my questions were precise and easy to understand (and he hasn't promised me I'll win etc etc - just that there are lots of factors that I hadn't even considered)!

I trust that nobody minds me passing this information on - because I have found the help and support on this forum so useful - that I wanted to do my bit to help any other poor soul who's banging their head against the preverbial brick wall...

I'm not posting the Barrister's details (unsure if it is against the forum's rules) - but am happy to pass on any info via private message (again - as long as it doesn't break the rules & on the condition that everyone recognises their own case is different).

Oh - one more thing - this is a whole new area of law and there are solicitor firms who are begining to specialise in it for nowt, nada, no fee!!! (as long as your claim is over £5K and remember that's £5K of any insurance, charges or credit on the agreement).

I've found one today who's agreed to take on my claim (just as I was ready to give up because it all felt too hard) when all the other (big) companies made me feel as welcome as a fart in a spacesuit.

helenlb

:mad:
Hope someone reads this tried to post stacks of times not very IT literate!

Anyway got a mortgage through a Broker with SPML back in 2003, paid it off Nov 2008 as we went with a new lender. unknown to us we also had PPI, only in one name, didnt even know we had it - been out of work and never claimed! every rule in the book broken.
Submitted first and second letter to SPML - now Capstone, they say as the PPi was done via a broker they were not part to any conversation covering terms and conditions at the point of sale, therefor the responsibility lies with the broker. Is this true?? I hope not cos I think they have gone bust! Help x

di3004

helenlb wrote: »

:mad:
Hope someone reads this tried to post stacks of times not very IT literate!

Anyway got a mortgage through a Broker with SPML back in 2003, paid it off Nov 2008 as we went with a new lender. unknown to us we also had PPI, only in one name, didnt even know we had it - been out of work and never claimed! every rule in the book broken.
Submitted first and second letter to SPML - now Capstone, they say as the PPi was done via a broker they were not part to any conversation covering terms and conditions at the point of sale, therefor the responsibility lies with the broker. Is this true?? I hope not cos I think they have gone bust! Help x

Hi there
Left you a post on the other thread you posted, in regards of the Financial compensation scheme (FSCS).;)

PaulinWeston

Hi HelenLB

I had a similar situation (I think) to you. My advice is don't give up because you probably still have a claim. The way it was explained to me is that the people who benefited from the PPI are the ones you go after. That "sounds" like Capstone. In legal speak: They are responsible for breaches of fiduciary duty of their agent(the Broker):

But I'm NOT a lawyer so I'd strongly suggest you seek some legal advice

petermb_2

helenlb wrote: »

:mad:
Hope someone reads this tried to post stacks of times not very IT literate!

Anyway got a mortgage through a Broker with SPML back in 2003, paid it off Nov 2008 as we went with a new lender. unknown to us we also had PPI, only in one name, didnt even know we had it - been out of work and never claimed! every rule in the book broken.
Submitted first and second letter to SPML - now Capstone, they say as the PPi was done via a broker they were not part to any conversation covering terms and conditions at the point of sale, therefor the responsibility lies with the broker. Is this true?? I hope not cos I think they have gone bust! Help x

Capstone have always been part of the Southern Pacific/ London Mortgage group and were originally adminsitration services to those lenders. Since those lenders ceased lending the front face has been Capstone.

I would imagine it will be the lender who arranged the ppi but I suppose it could have been the broker. Even so the ppi is part of the loan.

Do you have the original offer for the mortgage. This and the terms and conditons may shed some light as to who is responsible.