PPI Reclaims not covered by the FOS

di3004

mangle101 wrote: »

Received a reply today from NIG, it states that as the underwriters of the PPI they are not responsible or involved with the sale & the finance of the PPI & therefore unable to respond to the allegations or questions in your letter....the sale of the policy along with any finance agreement remains the sole responsibility of DAF & as you have already made contact with DAF concerning the sale of the policy, & they have responded, there is very little we are able to add.

So, not quite a full & final, what now?

Right, with this one the FOS should investigate, this is the response I also received from the ones we wrote to but the FOS will be able to investigate these, as they are also trying to make the insurers/underwriters responsible, but if you want to ring them first to have this confirmed.
http://www.financial-ombudsman.org.uk/contact/index.html

Please let us know what they say cheers X

mangle101

Just telephoned the FOS & they took various details & are going to write to NIG & are sending a PPI questionaire for me to complete, copy & send to NIG aswell. Upon receipt of this they then have 8 weeks in which to respond. Will keep you informed as things develop.

di3004

mangle101 wrote: »

Just telephoned the FOS & they took various details & are going to write to NIG. Will keep you informed as things develop.

Cool........:T, good luck.;)

magpiecottage

The logic behind making the insurer responsible is that the GISC Code of Practice prohibited insurers that subscribed to it from accepting business from intermediaries that did not (and vice versa).

This means that if the insurer subscribed and the intermediary didn't the insurer should never have accepted the business and, therefore if it had not breached the Code the policy would never have existed.

If you take the case to FOS, then you need to make clear that this is the basis of the complaint against the insurer.

barloo69

My gosh DI, is there a thread you do not subscribe too ? You are everywhere. :-)

I wonder if you could give me a second opinion on this hun.

I had a old car loan with Black Horse which had PPI attached. I sent a request for info off to Black Horse and didnt hear anything back. I sent another nudge letter but this time got a "sorry cant find you" letter, requesting my address & dob to help them search. Obviously I gave them this info and gave them a further a 40 days.

Now some 60 days later, I havent heard a sausage.

I was going to go straight to IC to report them, but Ive had a thought, could this be a cunning tactic by BH to say cant find details, then get told off by IC and as IC cant adjudicate in the matter the case therefore gets closed and dealt with resulting in BH not having to make any kind of redress.

What you reckon.

As ever answers on a postcode.

di3004

barloo69 wrote: »

My gosh DI, is there a thread you do not subscribe too ? You are everywhere. :-)

I wonder if you could give me a second opinion on this hun.

I had a old car loan with Black Horse which had PPI attached. I sent a request for info off to Black Horse and didnt hear anything back. I sent another nudge letter but this time got a "sorry cant find you" letter, requesting my address & dob to help them search. Obviously I gave them this info and gave them a further a 40 days.

Now some 60 days later, I havent heard a sausage.

I was going to go straight to IC to report them, but Ive had a thought, could this be a cunning tactic by BH to say cant find details, then get told off by IC and as IC cant adjudicate in the matter the case therefore gets closed and dealt with resulting in BH not having to make any kind of redress.

What you reckon.

As ever answers on a postcode.

Hi there LOL........:D, you will find me everywhere........just about :rotfl::rotfl::D;).

I would personally write to the CEO (Chief Exective Office) and complain to him or her staff about these failing to provide you with the requested info.
Did you also send them the payment for the info request?
And if so have they taken the payment out of your account, if you paid by cheque?

essexal

Can someone please help me. I took a £26,000 loan with £4,030 PPI with Paragon Personal Finance in 2002 (via a broker called dial 4 a loan who are now owned i think by Welcome Finance) this loan was then completely settled in Aug 2004.

My issue is that i have been to two claims companies - The now defunct Ratio, who i got no response from on the claim and also another claims company in Potter's Bar. Ratio took on my case but obviously didnt get anywhere with it, and now the new company is stating i have no chance of winning the case because Paragon Personal Finance didn't come under FOS until 2007.

So i am very confused at the moment because i had one company stating i had a good case and the other now saying i don't stand a chance ?

As an FYI the premium was a single premium upfront, and states this on the policy doc. My argument is that at no time was i told that i could get a policy with a monthly premium and from what i can see on my loan agreement and insurance policy is does not state that the insurance was optional.

However without the regulation from the FOS is there any realistic chance of winning ? I am a bit gutted because Ratio toldme it would take some time but that it was a very good case.

Any help is much appreciated

Thanks
Alastair

di3004

essexal wrote: »

Can someone please help me. I took a £26,000 loan with £4,030 PPI with Paragon Personal Finance in 2002 (via a broker called dial 4 a loan who are now owned i think by Welcome Finance) this loan was then completely settled in Aug 2004.

My issue is that i have been to two claims companies - The now defunct Ratio, who i got no response from on the claim and also another claims company in Potter's Bar. Ratio took on my case but obviously didnt get anywhere with it, and now the new company is stating i have no chance of winning the case because Paragon Personal Finance didn't come under FOS until 2007.

So i am very confused at the moment because i had one company stating i had a good case and the other now saying i don't stand a chance ?

As an FYI the premium was a single premium upfront, and states this on the policy doc. My argument is that at no time was i told that i could get a policy with a monthly premium and from what i can see on my loan agreement and insurance policy is does not state that the insurance was optional.

However without the regulation from the FOS is there any realistic chance of winning ? I am a bit gutted because Ratio toldme it would take some time but that it was a very good case.

Any help is much appreciated

Thanks
Alastair

Hi Alastair

Do not give up on this one yet.

I take it your you've not actually signed up with a claim management company then?
I would not trust them anyway and always have a go yourself, if successful you get to keep all your PPI refund and interest etc.

However, some of us have been in the same situation as you where the loan company/broker were not covered by the FOS, but the FOS are suggesting to pursue through the actual insurer/underwriter instead, where to what I know of would be covered by these.

I would in your case contact the FOS anyway, and let them know your situation, and ask if you think you should pursue this with the insurer instead.
You should find the details of the insurer on the policy details, if you do not have these, the loan company should supply them to you on request.

So basically you write to the insurer to complain about the PPI, if they do not accept responsibility then move this on to the FOS.
Although the chances are they will say no, the FOS will or should investigate your complaint against these, I have one in now with the FOS awaiting for a Adjudicator.
The FOS are also trying to make these responsible, so its another direction to take, to try to reclaim what is rightfully yours.

More on reclaming here:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

To contact the FOS here:
http://www.financial-ombudsman.org.uk/contact/index.html

Quite a few to what I am aware of have or are going this direction.

Good luck, please let us know how you get on, cheers.

Di

Jonahmaul

Am hoping that somebody with some more financial knowledge than me would be able to help with this inquiry. I am making a PPI mis-selling complaint on behalf of my mother in relation to a Debenhams store card she took out in 1998 (now run by Santandar but originally GE Capital Bank). I have sent them the two template letters & both times they have written back rejecting the complaint. However, in the latest letter they have claimed that we cannot go to the financial ombudsman as they have no jurisdiction over this complaint because of when it was sold? Can anyone confirm if this is the case or as Di states in the last post, should I try to make a claim anyway? I fail to see how the FOS can't have jurisdiction over the financial company? (For info Santandar's stance has basically been that my mother was sent the terms & conditions after signing up so should've read them & known that she could cancel without penalty even though she was told in store she had to have the insurance or she could not have the card).

Thanks

di3004

Jonahmaul wrote: »

Am hoping that somebody with some more financial knowledge than me would be able to help with this inquiry. I am making a PPI mis-selling complaint on behalf of my mother in relation to a Debenhams store card she took out in 1998 (now run by Santandar but originally GE Capital Bank). I have sent them the two template letters & both times they have written back rejecting the complaint. However, in the latest letter they have claimed that we cannot go to the financial ombudsman as they have no jurisdiction over this complaint because of when it was sold? Can anyone confirm if this is the case or as Di states in the last post, should I try to make a claim anyway? I fail to see how the FOS can't have jurisdiction over the financial company? (For info Santandar's stance has basically been that my mother was sent the terms & conditions after signing up so should've read them & known that she could cancel without penalty even though she was told in store she had to have the insurance or she could not have the card).

Thanks

Hi there

It is actually those at the FOS who are suggesting the insurer/underwriter direction as they are trying to hold these responsible as well, as these would be the ones to make sure you were eligible for the insurance and that is was suited to your requirements.

The suggestion I can only make here is to contact the FOS on your case, and see if they suggest this avenue to you as well.

Many of us are going this direction, so its worth a shot to get what is rightfully yours and you have exhausted other avenues.

Good luck.;)