PPI Reclaiming discussion Part II

tiggrae

marshallka wrote: »

So it has not happened then or has it?? Is it now passed and happening??

which bit -the document was dated august 2002 - the bits I put on here (ie section 2) were just a summary of what was already in place - the document then goes onto to talk about for example insurance intermediaries coming under their jurisdiction - which the document says will probably be the last quarter of 2004.[/

tiggrae

marshallka wrote: »

So complaints about banks (are they insurance intermediaries??) should always be within jurisdiction even before Dec 2001 if they were in one of the other 8 schemes??

yes, by the look of it you can make a complaint against Firms, and their activities, that were covered by any of the eight former

complaint-handling schemes (listed in paragraph 1.1 of this paper)
immediately before 1 December 2001

but don't know how far back you can go

and no banks are not insurance intermediaries (that's the likes of First Plus)

di3004

This is useful, found on the FOS website.

http://www.financial-ombudsman.org.uk/publications/ombudsman-news/4/on-loan1.htm

marshallka

tiggrae wrote: »

yes, by the look of it you can make a complaint against Firms, and their activities, that were covered by any of the eight former

complaint-handling schemes (listed in paragraph 1.1 of this paper)
immediately before 1 December 2001

but don't know how far back you can go

and no banks are not insurance intermediaries (that's the likes of First Plus)

This is on FOS's site

In considering complaints about payment protection insurance, we continue to apply our long-standing approach to the sale of insurance products – and the complaints we have seen have raised very few new issues. Applying the standards set by the law, by good industry practice since the 1990s, and in recent times by the FSA, enabled us to be clear about the approach that we take to selling insurance – and to follow this approach consistently in these cases.

marshallka

From Di's leaflet of 2001 here this is an important thing that I have never thought about but needs addressing



extending the debt
[FONT=Verdana, Arial, Helvetica, sans-serif]When existing borrowers extend their debt, it is common for the lender to issue a new loan incorporating all the borrower’s liabilities. This will result in the sale of a new insurance policy, but it can leave the borrower unprotected, at least for part of the loan. For example, if a borrower has consulted a doctor before the new policy comes into force, any illness that is later diagnosed as being related to the symptoms for which the borrower saw the doctor is unlikely to be covered. And if the borrower then becomes unemployed, he or she will not be able to claim during the initial period excluded by the policy – often the first 90 days.[/FONT]

and also it mentions the ABI on here and yet is does the ABI mean anything like the GISC does to the FOS

The Code of the Association of British Insurers (ABI) – shortly to be replaced by the Code of the General Insurance Standards Council (GISC) – requires the seller to ‘ensure as far as possible that the policy proposed is suitable to the needs and resources of the prospective policyholder’. But many of the complaints we receive indicate this has not happened.

marshallka

tiggrae wrote: »

yes, by the look of it you can make a complaint against Firms, and their activities, that were covered by any of the eight former

complaint-handling schemes (listed in paragraph 1.1 of this paper)
immediately before 1 December 2001

but don't know how far back you can go

and no banks are not insurance intermediaries (that's the likes of First Plus)

I would say you can go back from when you became aware you had a problem.

marshallka

tiggrae wrote: »

yes, by the look of it you can make a complaint against Firms, and their activities, that were covered by any of the eight former

complaint-handling schemes (listed in paragraph 1.1 of this paper)
immediately before 1 December 2001

but don't know how far back you can go

and no banks are not insurance intermediaries (that's the likes of First Plus)

Also with banks isnn't selling insurance themselves an "activity" in itself?? If that is the case and you only just became aware then surely all your complaints going back donkies can be looked into if you have the info (as they probably won't) and also if they were covered by these 8 schemes:eek:

franjam

Hello and thank you Di, Marshallka and Maxdp for your helpful replies. I think I will give the reclaiming company a miss but will press ahead with my MCOL submission as if I don't take this as far as I can I will always regret it. My claim is with HFC who I am aware from this site have already been fined. I intend to claim for the last 6 years, and have the info for this, although the card was taken out in 1992. Neither I or HFC have the original documentation and therefore no objective evidence but I believe that on the balance of probabilities I was mis-sold. I worked for the NHS at that time and had at least one years sickness cover with them. Also I would never have paid for anything that was optional so can't believe that it was properly explained to me. Anyway enough from me....I will now complete the MCOL form and send it off. Will let you know how it goes. Thanks again.

marshallka

Just found this that proves that the Co-op were part of the Banking Ombudsman Scheme

Complaints to the Banking Ombudsman Scheme For the year ending 1997, the Banking Ombudsman Scheme received 130 complaints from customers of The Co-operative Bank. This is a reduction on the previous year, when 150 complaints were registered; and this is particularly impressive when one considers that the bank's personal and corporate account base increased by 20% and 15% respectively, over that period.

That is probably why they asked about my earlier ones as well.:j

What do you think Tiggrae.???

di3004

franjam wrote: »

Hello and thank you Di, Marshallka and Maxdp for your helpful replies. I think I will give the reclaiming company a miss but will press ahead with my MCOL submission as if I don't take this as far as I can I will always regret it. My claim is with HFC who I am aware from this site have already been fined. I intend to claim for the last 6 years, and have the info for this, although the card was taken out in 1992. Neither I or HFC have the original documentation and therefore no objective evidence but I believe that on the balance of probabilities I was mis-sold. I worked for the NHS at that time and had at least one years sickness cover with them. Also I would never have paid for anything that was optional so can't believe that it was properly explained to me. Anyway enough from me....I will now complete the MCOL form and send it off. Will let you know how it goes. Thanks again.

Hi hun
We wish you all the very best, and please feel free to post up when you want and if you require help with any of your claims.;)

Oh I also used to work for the NHS.:D .

Good luck hunni
Di.
xx