PPI Reclaiming discussion Part II

tiggrae

marshallka wrote: »

We are actually at a loss here........


Di is claiming against endeavour for unfair rebate. According to Tiggrae, FOS will look into complaints about this and take the date of settlement as the date of applicable to the claim. We need this confirming and its soooo confusing. If you read back over the posts then you will see Di was told by Endeavour the following

""As your complaints relates to an event which took place prior to 6 April 2007, the Financial Ombudsman Service would be unable to adjudicate on a complaint against Endeavour Personal Finance.""

Does this looks to be a "Consumer Credit" area and not the date that they were FSA registered. If so when was FOS able to look into complaints about consumer credit.(was it from April 2007). Singlep seems to think the claim has to be on the against the loan for the ppi so does this mean a consumer credit area also. If this is so then the loan is a "contract", the PPI was a "loan" and you can claim unfair terms in consumer contracts as advisers failed to act in customer's best interest, Misrepresentation etc etc.

I wish tiggrae could explain to us.

Also if you are complaining about a consumer credit issue then is it ok to bring your complaint to FOS within six years (or the 3 years that you should have been reasonably aware) of the April 2007 jurisdiction and therefore you can go back to 2001. (If the company was FSA registered at the date that the incident happened??? or is it just if they had a consumer credit licence????), or is it for events that have actually happened after April 2007????

If the first part is correct then Di is ok and Endeavour have it wrong in that she only became aware of this recently and Endeavour were regulated by the FSA at the time of her settlement and did have a CCL too.


I understand what i mean here but i'm not too good at explaining it.

Anyone care to agree/disagree with me here

Just found this

Prior to 6th April 2007, the Financial Ombudsman Service covered all businesses regulated by the FSA including banks, mortgage firms, insurance companies and financial advisers. This included around 70% of the consumer credit market by value. From 6th April coverage will be expanded to all businesses holding consumer credit licenses, meaning the ombudsman service will be able to consider a wider range of complaints about financial matters from car loans to pawn broking and from store cards to hire purchase.


So does this mean that as long as they are FSA registered at the time of the "consumer credit" incident then you are ok to ask for help from FOS.

OK just extract this from the FOS regarding PPI

Three main types of
problem arise that can lead to complaints to the ombudsman.

The first type of problem is where a claim on a payment protection policy is turned down. In other words, the consumer has bought a policy and made a claim on it – but the insurance company refuses to pay out, perhaps because of an exclusion clause in the so-called "small print" of the policy.

The second type of problem involves payment protection policies that may have been "mis-sold". This might be the case if, for example:

• a consumer did not realise they were taking out a policy that they did not actually want; or

• the policy was not properly described to them – and they bought it not understanding it wasn’t suitable or how it worked.

The third type of problem involves disputes about refunds of premiums –where the consumer has paid for a payment protection policy with an up-front single premium (which is frequently added to the loan).
If the consumer pays off the loan early, only a small refund may be available – which can give rise to complaints.

what should I do if I am unhappy about my payment protection insurance?

If you think you may have grounds for a complaint, get in touch first of all with the company you think is responsible. Give them a chance to look into your concerns.

What can we look at?

We can look into complaints about a very wide range of financial matters. However, the rules and restrictions we have to follow mean there are some types of dispute we can’t help with.

In particular, you should be aware that time limits may affect our ability to look into your case if you leave it too long to complain after you know (or should have known) that there’s a problem.

If you ask us to look into your complaint, we will explain any particular rules and restrictions that may apply in your own individual case – and we will always give you the chance to query anything you don’t understand.

If you’re not sure if your complaint is one we can help with, just ask us.

Therefore, in conclusion all I can say is that if your claim falls within the 3 categories (ie not paid out, mis sold or unfair rebate) then initial contact whoever is responsible - if your claim is not upheld by them then contact the FOS to see if they are allowed to look at your complaint (ie did the company concerned come under their jurisdiction at the time the event took place) as they appear to be the only ones with the definative set of (unpublished) rules about what timescales exist.

If the FOS can't look at your complaint then there is always the County Courts

tiggrae

Clb3718 wrote: »

Hi

No they never sent me anything to say that they were using my PPi payments against the so called discount.

This is really doing my brain in now I just feel like giving up.

Thanks
xxx

just ring them up and ask them to put in writing exactly how they calculated the redress - tell them you're not happy with the way they've handled your claim and if they don't put it all down in writing you'll take your complaint to the financial ombudsman - you don't need to request a SAR !

di3004

clb3718

Like I said Tiggrae will give better advice than me.....;) , I would do what Tiggrae suggests above.

Please ignore the part about the SAR hun with what I said to do, they should supply you with what you request free of charge.;)

Good luck.

Clb3718

Okay Ive spoken to them and asked for their calculations to be written down, they say I should receive this by Wednesday next week so ill come back with what they say.

Sorry for all the hassle lovlies but my head will explode otherwise!

Ill post again once I receive this.

Have a lovely weekend all

xxxxxxxxxx

di3004

Clb3718 wrote: »

Okay Ive spoken to them and asked for their calculations to be written down, they say I should receive this by Wednesday next week so ill come back with what they say.

Sorry for all the hassle lovlies but my head will explode otherwise!

Ill post again once I receive this.

Have a lovely weekend all

xxxxxxxxxx

Wonderful.;)
We look forward to hearing from you about this and there is no hassle.....;) , that's what this site is for hun, to help and help each other out.

You too have a good weekend hun.:D

Di.
x

di3004

Here is a link - welcome link to the financial ombudsman service, may be of some interest to you.

The video download links for this are on the right hand side of page.;)

http://www.financial-ombudsman.org.uk/about/video_welcome.htm

Clb3718

Thank you.
xx

di3004

I think this link is also interesting, copied and pasted from the CAB.;)

http://www.adviceguide.org.uk/index/life/debt/credit.htm#Payingtheloanoffearly

Laini

chrisbe3333 wrote: »

I have a complaint about Black Horse Finance.
Its been going on since Sept 07 and still no result.

I know the ombudsman is overwhelmed but this is a bit much.
Whats the normal time limit for these things, anyone know?

I would have thought you would have an adjudicator by now so have you got a point of contact at the FOS?
I would email them or ring them for an update.

weymouthjo

Hi, I am new to this and hope I am in the correct place. I have just received a letter from MBNA saying that, following my enquiry about being missold PPI in 2000, they have investigated my complaint and are unable to refund any premiums. They go on to say that my complaint relates to a period that is outside of the time limits for referral to the FOS. Any ideas on what to do next??? Thanks