PPI Claim upto 30 years

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Hitower68
Hitower68 Posts: 3 Newbie
in Loans
Any advise on the following

I was contacted last week by a company called Citizen Financial Advisory Services ( CF Advisory), offering a no win no fee service to recover PPI claims upto 30 years ago.

Amongst other PPI claims, they stated they had found car loans dating back to 1988 & 89, that I could claim PPI on (£6K in total plus interest)
Queries are:
1. How good are CF Advisory?
2. Is it true claims can be made up to 30 years back?

Also they stated "no win no fee" yet in their small print wanted me to make an up front "one off payment" of £495. Is this a con?
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Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
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    Of course it is.

    They are selling you a £495 stamp. And probably won't do anything for it.

    If you feel you have a complaint about PPI, then buy your own stamp for significantly less and send it off yourself.
  • jellie
    jellie Posts: 884 Forumite
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    Yes it is. If you believe you've been mis-sold PPI, put a complaint in yourself. It's an easy and free process.
  • Hitower68
    Hitower68 Posts: 3 Newbie
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    Thank you both for the response, problem is, I can't remember who I had the car loans with back in the 80's
  • Hitower68
    Hitower68 Posts: 3 Newbie
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    Having thought about it, one of the cars was a Mitsubishi and the finance was with the dealer ( I don't think they are there anymore) What claim form would I use and who would I send it to?
  • National_Debtline
    National_Debtline Posts: 7,998 Organisation Representative
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    Hi Hitower68


    Unfortunately the reality is it would be almost impossible for you to reclaim PPI where you have no paperwork, no record of the debt on your credit file and the car dealership no longer exists.


    The claims management company is most likely fishing, in the hope that someone they send the letter to had car finance in the 80s. If anyone pays their fee, they'll have made money even if they can't recover the PPI.


    It's never a good idea to pay a claims management company for something you can do yourself for free, but I'm afraid in this case you're going to struggle to do that due to the lack of information.


    Susie
    @natdebtline
    We work as money advisers for National Debtline and have specific permission from MSE to post to try to help those in debt. Read more information on National Debtline in MSE's Debt Problems: What to do and where to get help guide. If you find you're struggling with debt and need further help try our online advice tool My Money Steps
  • BoGoF
    BoGoF Posts: 7,099 Forumite
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    So was the first contact from them saying they had found these loans?
  • BoGoF
    BoGoF Posts: 7,099 Forumite
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    If you had PPI through a dealer and it was pre 2005 then you have no chance anyway.
  • PeacefulWaters
    PeacefulWaters Posts: 8,495 Forumite
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    Google statute of limitations while you're at it.
  • sourcrates
    sourcrates Posts: 28,878 Ambassador
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    edited 27 October 2017 at 6:13PM
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    Never use one of these scam companies.

    For a successful claim to be made, either you, or the company concerned, must still have copies of the paperwork for the mis-sold product, or at the very least account numbers, if you have neither, then you wont win back anything.

    All you need to know here :

    https://www.fca.org.uk/ppi/
    I’m a Forum Ambassador and I support the Forum Team on the Debt free wannabe, Credit file and ratings, and Bankruptcy and living with it boards. If you need any help on these boards, do let me know. Please note that Ambassadors are not moderators. Any posts you spot in breach of the Forum Rules should be reported via the report button, or by emailing forumteam@moneysavingexpert.com. All views are my own and not the official line of MoneySavingExpert.For free non-judgemental debt advice, contact either Stepchange, National Debtline, or CitizensAdviceBureaux.Link to SOA Calculator- https://www.stoozing.com/soa.php The "provit letter" is here-https://forums.moneysavingexpert.com/discussion/2607247/letter-when-you-know-nothing-about-about-the-debt-aka-prove-it-letter
  • -taff
    -taff Posts: 14,504 Forumite
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    Forget the car dealership, they weren't regulated.

    CF Advisory want to charge you hundreds of punds which you won't get back because it's basically a form of advance fee fraud.

    Save your money. There are no good claims companies. Come to the PPI board if you want more detailed info.
    Shampoo? No thanks, I'll have real poo...
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