PPI Reclaims not covered by the FOS

DAW2110

I took out a loan with First National Home Finance Limited which was brokered by Freedom Finance in 2003. In Sept 2005 the loan was taken over by GE Capital Homes Ltd who bought out FNHF. I paid the loan off in full in Oct 2005. There was PPI attached to the loan and I was told it was a pre-requisite of acceptance for the original loan. I said I was already covered by a company policy which safeguarded my salary in the event of me being unable to work but I was told I still needed the PPI. Not only was this missold but when I then paid the policy off in full I received no PPI refund. Freedom Finance are now in administration and I am told by the FSCS that I can't claim because the policy is pre 2005. Any help would be gratefully received in terms of whether there is another avenue to claim through and whether any one has been successful. thks

dunstonh

Freedom Finance are now in administration and I am told by the FSCS that I can't claim because the policy is pre 2005.

That is correct.

You have no-one to complain to. Game over.

dunstonh

lets wait for FOS developments.

You mean the idea that some at the FOS seem to have given people despite nothing in law or FSA regulations suggesting anything like it should occur.

The issue is over the sale of the product. Not the product itself. The product provider has no liability for the actions of the seller unless the seller is an agent of the provider. To pass the liability onto a third party who had no involvement in the process is not logical and probably unlawful.

Brummie70

I've got a Debenhams store card through Santander & trying to reclaim my PPI. I didn't remember signing or seeing a section on the agreement for PPI, and don't remember being asked any questions before taking out the PPI or the PPI costs / benefits being explained to me.
Santander have sent me a copy of the agreement showing my signature agreeing to the PPI & telling me a policy summary & document was mailed to me for review. They also mentioned that they offer a 30 day no quibble guatantee where the PPI could have been cancelled. I've still got a copy of my original agreement from 2003, but don't have any recollection or record of the policy summary & document.
They also mention that the insurance was cancelled in 2009, but I have seen a 'Payt Protect' quoted on my January 2012 statement?
Santander have advised that they are not up holding my claim of miss-selling, & said if I am still dissatisfied I should refer my complaint to the Finance & Leasing Association?
Does anyone know who they are? and why Santander have not referred me to the Obudsman?
Is it worth pursing?
Appreciate any advice please in the best approach of pursing this.

dunstonh

Does anyone know who they are? and why Santander have not referred me to the Obudsman?

It means your sale was not through a company regulated by the FSA and therefore you have no access to the FOS.

Is it worth pursing?

What is your complaint? What evidence or factual information do you have to support your complaint?

atky

Help!
I put it a claim direct with Lloyds tsb credit card back in June 2011. After numerous letters saying they were still looking into the claim, I received one in November with a statement to say they had upheld my claim and enclosed a cheque! :j. However that was not the good news, it appeared that they had not gone back far enough with the dates, so out of couteousy I provided them with copies of all the previous statements (December 2011) so they could recalculated my claim. Well to this day after having numerous arguments with the front desk staff (as the payment office are not aloud to talk to anybody) I still have a cheque that I cannot bank and they have not resolved my claim.
I think 12 MONTHS is slightly going over the 28 / 56 day gentlemen agreement??? :mad::mad::mad:

rogs

Hi all, i have been paying ppi monthly on a mortgage for the last eleven years, it was mis-sold so the bank are offering a refund of the ppi monies payed which is £1807 plus they are giving 8% interest on the money which works out at £848 this is then taxed so it drops to £678 so £1807+£678= refund of £2485. as far as i can see im only getting back what is rightfully mine with no compensation, is this right or are they pulling a fast one?
Thanks Rogs

[Deleted User]

rogs wrote: »

H as far as i can see im only getting back what is rightfully mine with no compensation, is this right or are they pulling a fast one?
Thanks Rogs

The 8% is your compensation, the fact that it's taxable is irrelevant since it would have been taxed in the same manner if it was in a Bank account (and what Bank account paid 8%?)

rogs

Thanks moneyineptitude,
yes i think 8% is ok for interest as you say saving rates were not that good but the money could have been making extra payments on mortgage which was around 6.5% i think at the time but still makes 8% ok. I still feel you only get back what your owed with nothing for the inconvenience or hassle of it all, but i guess thats how it goes. A friend received £6500 just for a credit card ppi so i guess he must of paid out alot in the first place.
Thanks for your input.

67lkj89

I had ppi on a car loan taken out in 2002,not told that I didn't need it as I had income protection in place no one asked me.Anyway to cut a long story short I rang up the ombudsman as I knew car dealership not covered,they said to find out who the underwriter was and file a complaint against them.which I will be doing.Not sure if this info' might help anybody.