Ppi claim not uphel by fos - after waiting for months

SERIOUSPPICLAIMER

My claim was against First National Tricity along with Cardiff Pinnacle going back to 1998. After years of going to and from various companies finally contacted FOS last year.
FoS said:
"Due to the time that has passed since your finance and PPI policy were taken they're limited on the information they still hold. The information and evidence that we've been provided with suggests that your PPI policy was sold to you before 14 January 2015. This is the date when all businesses selling insurance became regulated - and from that date they had t follow specific rules on how they sold insurance. The Ombudsman can't generally look into complaints about PPI policies sold before this date. But there are some limited circumstances where we may be able look into this further.
So instead of turning away cases like yours from the start we've been checking to see if there is anything else that might we could look into the sale of your PPI policy.
Unfortunately after reviewing your case in more detail I have been unable to conclude that the sale of the policy was covered by either us or one of the dispute resolution schemes that existed before us. As a result, this sale is not one that we can investigate.
I am sorry that this will be disappointing news for you - and that this isn't the answer you were hoping for"

I don't understand - because I have had a claim with Capital One going back to 1998 and was able to claim back directly with them. They never mentioned about a time limit. I had this claim started in 2003 with First National Tricity who went into administration and GE Money taking over and subsequently by Santander who rejected.

Has anyone had this experience with Santander or FOS. Unbelievable - I had all the documentation, Cardiff Pinnacle certificate to prove that I had the money taken out. Santander did not exist in UK in the 1998 so how can they say it was not in their policy? At that time no one knew so much about PPI as they do now. Even the staff who sold the policy had no training or awareness.

I would like to hear from anyone who had similar letter from FOS.
Thought FOS would be helpful.
Thanks

BoGoF

So who actually sold you the PPI policy? First National Tricity were a Finance Company (I think) but what was the finance for.

If car finance or a sofa (as examples) what the FOS is saying is that these 'sellers' of PPI were not regulated at the time of sale Bottom line is they cannot consider the complaint.

Other financial institutions such as banks and credit card providers were regulated so could not reject claims in the same manner.

Basically it's game over I'm afraid.

[Deleted User]

SERIOUSPPICLAIMER wrote: »

The information and evidence that we've been provided with suggests that your PPI policy was sold to you before 14 January 2015. This is the date when all businesses selling insurance became regulated

I'm guessing this will be a typo on your part since Regulation began on January 14 2005? The point is that FOS cannot consider pre-regulation complaints about PPI not sold by Banks who were covered by an earlier regulatory body.

SERIOUSPPICLAIMER wrote: »

Santander did not exist in UK in the 1998 so how can they say it was not in their policy? At that time no one knew so much about PPI as they do now.

Actually, complaints about PPI started almost as soon as the product was launched and began to be widely (mis)sold. You have left it until 22 years later to complain. In addition, Santander did not sell you the policy..

SERIOUSPPICLAIMER wrote: »

would like to hear from anyone who had similar letter from FOS.

What would be the point of hearing from people who have been similarly rejected? No one will have been able to challenge this because FOS was not the regulator at the time your PPI was sold.
Your only alternative would be to take this to court, however I don't recommend you do that based on the "case" you have put forward here..

SonOf

I don't understand - because I have had a claim with Capital One going back to 1998 and was able to claim back directly with them.

Insurance regulation started on 14th Jan 2005. However, some businesses were members of an earlier body prior to that date. Mainly the banks, building societies and some insurance companies.

That is why Capital One have considered your complaint.

However, in this case, the sale was made via a retailer or third party. Nearly all of those were not regulated prior to 2005 and the FOS has no remit in that scenario.

Has anyone had this experience with Santander or FOS.

Plenty have.

Unbelievable - I had all the documentation, Cardiff Pinnacle certificate to prove that I had the money taken out.

its not unbelievable. Its a position of fact. You bought prior to regulation and the company that sold you the PPI was not covered by an earlier body at the time. So, they cannot have breached regulations that they were not party to.

There is nothing wrong with having PPI. So, you proving you had it is not a reason for complaint. Even if the complaint was eligible to be considered.

Thought FOS would be helpful.

The FOS have been very helpful in your case. They have confirmed that it is pre-regulation. They have gone out of their way to see if another company is ultimately responsible. Unfortunately, there isn't. That doesn't make the FOS unhelpful. It is just confirming the factual position that your complaint has failed as pre-regulation.

-taff

The FOS can't investigate something they have no jurisdiction over. Your complaint was with a finance company who were not regulated at the time, and Santander have no liability, neither do Cardiff Pinnacle...Your complaint is over...

SERIOUSPPICLAIMER

Thank you all for your replies.

I bought a computer through Tiny Computers who went into administration while ago. So the loan was financed by First National Tricity, and the insurance company was Cardiff Pinnacle.

At the time I was an agency worker and would not have had any benefits, yet I was told it was part of the package and I had to have it without which the loan could not have processed.

I had another PPI claim which was paid out by Cardiff Pinnacle and the finance company was First National Bank. So similar companies that is why I don't understand why one company can pay out and not the other. I had double glazing though Zenith which went into administration also at a later stage. I have successful claims but never had to go to FOS and dealt with directly and got paid directly without any hassle. Even a House of Fraser card I had which had PPI put on managed to claim from Santander who hesitated at the beginning but paid out later when I submitted all the documents.

[Deleted User]

SERIOUSPPICLAIMER wrote: »

I had another PPI claim which was paid out by Cardiff Pinnacle and the finance company was First National Bank. So similar companies that is why I don't understand why one company can pay out and not the other.

The reason behind the failure of this complaint and not the others has already been explained in detail in the responses given earlier. For reasons best known only to them, your other complaints were upheld by the lenders despite them being pre-regulation. Unfortunately, this one was rejected and the Ombudsman had no regulatory power to accept your referral I'm afraid.

Can I suggest you read the responses again carefully in order to understand?

You really cannot progress this any further...

SonOf

I bought a computer through Tiny Computers who went into administration while ago. So the loan was financed by First National Tricity, and the insurance company was Cardiff Pinnacle.

So, Tiny computers sold you the PPI. Not first national Tricity or Cardiff Pinnacle.

I had another PPI claim which was paid out by Cardiff Pinnacle and the finance company was First National Bank. So similar companies that is why I don't understand why one company can pay out and not the other.

It depends on the date of the sale and the commercial relationship that exists.

Even a House of Fraser card I had which had PPI put on managed to claim from Santander who hesitated at the beginning but paid out later when I submitted all the documents.

There was a period of time that house of Fraser PPI complaints were placed on hold pending a review of who carried the liability. The commercial relationship that existed found that Santandar were and once that decision was made, there was no debate on the issue.

Bermonia

As a former FOS employee I can confirm that what have you have been told already by FOS and those on this forum are correct.

There are some very rare cases where the insurer out of their own goodwill will “take responsibility” for a pre-regulated sale.

However in your scenario this is not the case and your complaint has come to an end. You are of course free to pursue whatever avenues you wish, however these would be fruitless and merely cause you further hassle - time to put this one to bed I’m afraid.

sun73

Weren’t Cardif Pinnacle/Pinnacle Insurance members of the ABI in 1998?

Would that give some jurisdiction to the FOS?

Bermonia

No as they were not responsible for the sale... as stated an insurer can elect to ‘take responsibility’ for some sales however this is down to them and they have a high threshold for those they would consider.

Ultimately given the passage of time and changes in ownership there would little no evidence from time of sale to support or refute a complaint, as such the most likely outcome would’ve been a reject anyway.