PPI Reclaims not covered by the FOS

di3004

kesker1963 wrote: »

hello the secured loan was taken out on the 22nd of december 2004 and the broker was the personal loan express that have gone into liquidation ans all first plus, fos and fis say i have no claim as they were not regulated at that time of the loan.

Hiya, if they were not regulated, then neither the FSCS or the FOS can help, but the FOS can if you go the insurer/underwriter direction, this have actually been suggested by the FOS to take this avenue in trying to get back what is rightfully yours.

The insurer/underwriter would have been regulated.;)

I would contact the FOS and they will explain and advise you to the next step on this.

Give them a call and let us know what they say.
Good luck.

As you may know they are open office hours only.:)

di3004

I note you have stated that you have already been in touch with the FOS, so this may depend on who you talk to.

I would therefore let them know that you are aware the underwriter have been suggested to people in the same situation.;)

di3004

I will give you an example of one of mine.

My broker was Click Finance, and the lender Endeavour Personal Finance.
The broker dissolved in about 2006.

I noted that Click was still running, the same manager/direction, but these were different Click's with different company numbers.
I was of course very annoyed knowing that the same members were still running companies, and then got in touch with the FOS.

I was first told to contact the FLA (Financial leasing association) I did that, but it was useless, as they would not do anything to help, although the broker/lender was registered with these.

And I am aware that lots on here have not been successful with trying through the FLA.

Anyhow, I then came across a few posts on here that the FOS were also trying to make the insurer/underwriter responsible, as they were all part of the sales process too, they decline and/or approve etc, and make sure your eligible for the loan and the ppi.

They would have been regulated as an insurer.

So in time I got in touch with the FOS and mentioned about I had heard about this avenue and they told me to do the same.;)

However, its likely the insurer will say no, as you make a reclaim with them as you did the broker (you use the same reclaiming procedures), but if they say no - then you can complain to the FOS who will be willing to take it on.

I believe there have been success this way, but it may take some time.

Mine have been with the FOS since last October 2009, but it have been passed on to the adjudicator, and ongoing, so they have not turned it away, and they keep in touch with me often to let me know they are still investigating.

jes58

I received a reply from Capital One advising me that they didn't consider that the PPI that I took out in 2000 on my First Plus loan was mis-sold. In the letter it named the provider of the PPI as Cassidy Davis Insurance Group so I called them and they are going to get back to me with more information. As I was on a roll I decided to phone Capital One as being a bit dense I didn't understand where they fitted into all of this and it is apparently them that sold me the PPI policy and Cassidy Davis were the underwriters.
I had no idea that Capital One were involved as the only people that I spoke to at the time of taking out my loan were First Plus and it was them who persuaded me to take out the PPI, there is no mention of Capital One on any of my paperwork and the PPI cover details are on First Plus headed paper.
If a First Plus salesperson sold me the cover how are Capital One able to make a decision to if it was mis-sold?
The letter says that it is the final response on the matter and the FOS says that they can't arbitrate as Capital One did not subscribe until 2001, so I guess that is the end of it.
It is so disappointing as I feel I have be totally conned out of thousands of pounds which I could really do with as at the moment I am unable to work.

di3004

jes58 wrote: »

I received a reply from Capital One advising me that they didn't consider that the PPI that I took out in 2000 on my First Plus loan was mis-sold. In the letter it named the provider of the PPI as Cassidy Davis Insurance Group so I called them and they are going to get back to me with more information. As I was on a roll I decided to phone Capital One as being a bit dense I didn't understand where they fitted into all of this and it is apparently them that sold me the PPI policy and Cassidy Davis were the underwriters.
I had no idea that Capital One were involved as the only people that I spoke to at the time of taking out my loan were First Plus and it was them who persuaded me to take out the PPI, there is no mention of Capital One on any of my paperwork and the PPI cover details are on First Plus headed paper.
If a First Plus salesperson sold me the cover how are Capital One able to make a decision to if it was mis-sold?
The letter says that it is the final response on the matter and the FOS says that they can't arbitrate as Capital One did not subscribe until 2001, so I guess that is the end of it.
It is so disappointing as I feel I have be totally conned out of thousands of pounds which I could really do with as at the moment I am unable to work.

Hi there

Sorry to hear of the running around your getting here.

I understand that a few have been in the same situation, and have made contact to the FOS on the best avenue to take here.

So you could contact them, explain your situation as you have above and they should advise on the best direction for you......
http://www.financial-ombudsman.org.uk/contact/index.html

It may be worth a phone call.

Please let us know how you get on, good luck.;)

Paul62_2

Dear Jonahmaul, I am in a very similar position and wondered how you proceeded and did you have any success.
Regards
Paul

Paul62_2

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 in relation to a Debenhams store card I 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. They have referred me to the FLA which on the face of it appears to have no chance as they are there to protect the Banks.
(For info Santandar's stance has basically been that I was sent the terms & conditions after signing up so should've read them & known that I could cancel without penalty).

Is there a meaningful way to proceed, has anyone had any success and if so how ?

Thanks

di3004

Paul62 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 in relation to a Debenhams store card I 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. They have referred me to the FLA which on the face of it appears to have no chance as they are there to protect the Banks.
(For info Santandar's stance has basically been that I was sent the terms & conditions after signing up so should've read them & known that I could cancel without penalty).

Is there a meaningful way to proceed, has anyone had any success and if so how ?

Thanks

Hi there

Hope someone posts up soon for you with their own experience, and the FLA are not that much cop either to be honest, the FOS as you know are unable to deal with them, but they do suggest other avenues, such as the underwriter/insurer as another way, these would have been regulated.
Give the FOS a call and see what they say about this direction, good luck.

wilkinson_claire

I'm hoping someone can help me out as I am now near on tearing my hair out with this one!
I applied to Consumer Credit Services in April after receiving a random call from their sales person. The advised me they had to take £199.99 for the service but if the service was unsuccessful then i would be refunded.
I received a letter from them on the 18th August advising me that my claim was unsuccessful and that the refund department would be in touch shortly to arrange my refund.
I waited a week and heard nothing. I called CCS who advised me it could tkae up to 28 days for the refund.
We are now on the 27th September and I am still £199.99 short. When i ask for a manager or team leader i get informed they "don't speak to customers!" either that or they cut you off!
I have sent a letter today giving them 5 days notice to refund my money or i would have no alternative to contact the financial ombudsman. How can I get my money back? It is mine! :-(

Thanks Claire

di3004

wilkinson_claire wrote: »

I'm hoping someone can help me out as I am now near on tearing my hair out with this one!
I applied to Consumer Credit Services in April after receiving a random call from their sales person. The advised me they had to take £199.99 for the service but if the service was unsuccessful then i would be refunded.
I received a letter from them on the 18th August advising me that my claim was unsuccessful and that the refund department would be in touch shortly to arrange my refund.
I waited a week and heard nothing. I called CCS who advised me it could tkae up to 28 days for the refund.
We are now on the 27th September and I am still £199.99 short. When i ask for a manager or team leader i get informed they "don't speak to customers!" either that or they cut you off!
I have sent a letter today giving them 5 days notice to refund my money or i would have no alternative to contact the financial ombudsman. How can I get my money back? It is mine! :-(

Thanks Claire

Hi Claire so sorry to hear this.
Have you also made contact with the Ministry of justice and see what they may suggest?
http://www.justice.gov.uk/contactus.htm

And hope this will be sorted out soon, I would then have a go yourself with free help from this site if you want to.

Lots have had no end of trouble with using claims companies.

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

Di