PPI Reclaiming discussion Part II

tiggrae

Ploddy wrote: »

Okay, I have taken marshallka's advice and checked the Information Commissioner's website, as well as petermb's advice and looked at the Inland Revenue's website, :beer:

On top of this I have read :eek:
Data Protection Act 1998
Freedom of Information Act 2000
Financial Services and Markets Act 2000
Financial Services Act 1986

believe me, very good for insomnia,

however unless I have missed it, none of these acts stipulate how long banks/financial institutions need to retain there records for.

Whilst I believe that it must state somewhere about the 6 year rule, I having great difficulty finding it, and really need to quote the act and section in my reply to HFC, (who are stating they do not need to keep records this long).

Any help is appreciated.

Ploddy

Ok when you're talking about the 6 year rule firstly I think that is within the Statute of Limitations Act 1981 (ie you can only recover a debt if you request it back within 6 years). As for documentation, all companies under Taxes Act have to keep their records for 6 years + the current tax year

marshallka

Is there any way i can find out when Bespoke Finance in Gibraltar first opened. I have emailed companies house in Gibraltar but it looks like a service you have to subscribe to and pay for. Its not like ours here. Can anyone confirm this. www.companieshouse.gi
I cannot find the information from this site. Would someone have a look and find out. If it is they were registered and formed after Jan 2000 i know they are definately lying with regards to my loan. God i am getting obsessed with all this but its really eating me up that we had no protection and that it has to be a court case and no help from the authorities here. I hope Freedom Finance and Firstplus get their comeuppance soon.

Ploddy

homer_j wrote: »

http://www.fsa.gov.uk/pages/Doing/small_firms/advisers/FAQ/handbook.shtml#record

Record keeping section

tiggrae wrote: »

Ok when you're talking about the 6 year rule firstly I think that is within the Statute of Limitations Act 1981 (ie you can only recover a debt if you request it back within 6 years). As for documentation, all companies under Taxes Act have to keep their records for 6 years + the current tax year

Cheers guys, hopefully I will be able to get all the details using the info you've provided. :dance:

veryannoyed_4

Last year I took out a loan with my bank. They told me that because of the ammount I was borrowing I had to take out PPI (which I didn't want). Today I approached them to say that I wasn't happy that I was forced to take out the PPI, and my bank agreed to cancel the PPI. The problem is that to do this they need to creat a new loan. Because they put all the interest on at the start of the loan, the settlement figure is higher than the ammount I originally borrowed (even though I have made 7 repayments), and I will also have to pay interest on the new loan. The ammount that I have paid back so far + the ammount of interest that I will be forced to pay on the new loan will cost me thousands, because of a policy which I was forced to take. What can I do about this? I know I can claim back the PPI, but what can I do about the extra interest?

homer_j_3

You need to make a formal complaint for them to rebate the amount that you have paid and recalculate the loan as if you never had it.

You may need to put a complaint in to get this with the FOS.

Kaia_2

marluc wrote: »

tiggrae wrote: »

no bespoke and freedom - they would be classed as the sellers, FirstPlus is only the loan provider so they are free to wash their hands of the PPI mis selling.


Hi.
I've just checked the defence from FF solicitor's. TThe defendent (FF) arranged for claimant + husband to borrow the sum of £19,140 (loan amount) from IGroup Loans(the loan). It comprised the following: an advance amount of £15000, an amount for optional PPI which was to be provided by Ace Insurance S.A.-N.V and Sterling Life Ltd (the insurance).
I have never heard of thease 2 companies. I only have letters with IGroup (now GE Money) and FF letterheads.
I think I will now look at who these 2 other companies are. Are they allowed to use other companies without informing the "buyer" of the loan?
:mad: :mad: :mad: :mad: :mad:
I am still preparing my "statement of Fact" which has to be back by 9th June.

In my case the broker is Freedom Finance , the lender was First National (now known as GE MONEY) and the PPI sold by Freedom is underwritten by Pinnacle.

Kaia_2

Not had that phone call yet (channel 4 ).....Hmmm
Although I did have to pop out this afternoon , maybe I missed it, although no message on answerphone

marshallka

Kaia wrote: »

Not had that phone call yet (channel 4 ).....Hmmm
Although I did have to pop out this afternoon , maybe I missed it, although no message on answerphone

Maybe it will be tomorrow Kaia. Let us know. I have emailed as well. I hope they do get in touch with you as i want Freedom Finance to have as much bad publicity as possible.:mad:

marshallka

Kaia wrote: »

marluc wrote: »

In my case the broker is Freedom Finance , the lender was First National (now known as GE MONEY) and the PPI sold by Freedom is underwritten by Pinnacle.

Kaia, was your ppi that was added a cashback one. Mine was and I feel sure it was Firstplus's own policy. I am hoping to get my SAR from freedom soon so then i will be a better position and also i have written again to Firstplus for copies of the terms and conditions with the loan etc but nothing yet. I am feeling a little stumped at the moment as to what i should be doing. I hope if the FOS are going to say they can not look at it they will let me know soon as i don't want to wait 6 to 9 months for an answer of "sorry its not something we can help with.". I keep thinking of gathering more evidence every day to get these crooks with as i feel i will be on my own with it. Keep us posted tomorrow about the news thingy.

Kaia_2

Hi Marshallka
No I wasnt told anything about cashback by Freedom
I know ...disappointing there was no call, although as I said I did have to pop out, lets hope he rings tomorrow.
I'm glad you sent an email as well, the more of us the better surely.
Same here regarding SAR, mine should be here by mid June (giving the full 40 days) it will be very interesting to see whats there and whats missing!