Please help I'm going round in circles!!

Thechiefy

So here's the situation

3k PPI Paid in November 2007 on a loan with Endeavour Personal Finance (Accounts owned by Endeavour are now HSBC)

The secured loan was sold to us by Broker Ridge Ltd (No longer in existence)

HSBC Say it's nothing to do with them as it was sold via a Broker

The Financial Services Compensation Scheme say Broker Ridge Ltd were not authorised by the Financial Conduct Authority at the time I conducted business with them.

Is that game over or am I missing something??

Please Please Please Help me!!

Bermonia

Nope you’re right it’s hame over I’m afraid - you can only complaint about mis-selling to the person that sold it, in this instance the broker. As they were not regulated at the time of the sale they do not need to consider your complaint and it is therefore the end of the matter.

-taff

Not regulated in 2007?

[Deleted User]

Thechiefy wrote: »

The Financial Services Compensation Scheme say Broker Ridge Ltd were not authorised by the Financial Conduct Authority at the time I conducted business with them.

If you used the broker in 2007 then they were very much regulated. Are you certain of the date involved?

Bermonia

Apologies misconstrued the date there

-taff

When did you take out the loan?

Thechiefy

Thats the information the FSCS gave me when I entered the dates, Start of loan was November 30th 2007.

What now??

Thechiefy

OK So there is a further development, it would appear that Broker Ridge was a appointed representative of a firm called Firstplus Financial Group Plc, when I enter a claim on the FSCS against them the message I get back is; FSCS is currently not accepting applications for the specified firm.

What now???

-taff

I would phone the FSCS and make sure that they said the loan wasn't covered because it certainly should have been in 2007.

-taff

It's whoever sold you the loan, not who provided the finance, so as above, go back to the FSCS about Broker Ridge. You may have to fill an actual paper form for this though....:)

Thechiefy

So just watched Martin on ITV and suddenly had the thought that I may be better going after HSBC on the Plevin rule, is my thought process correct??