Capital Bank PLC

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  • LostShepherd
    LostShepherd Posts: 5 Forumite
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    Don't worry I will ignoring any know it all negativity along the way :)
  • dunstonh
    dunstonh Posts: 116,379 Forumite
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    LostShepherd wrote: »
    Don't worry I will ignoring any know it all negativity along the way :)

    It isn't about negativity. It is about being factually correct.

    Insurance regulation started in January 2005. So, any sale made before January 2005 does not have to be considered by the firm unless they were a member of an earlier body. This is why the banks have to consider earlier complaints.

    However, car dealers had no previous body. So, they can and do reject PPI complaints sold prior to regulation as being pre-regulation. You will have no access to the FOS either as they can only be referred to if it is a regulated sale.

    If the car dealer was acting as a representative of the lender (which can happen with some in-house financing - i.e. same brand finance company to car manufacturer) then these often have to consider pre-regulation complaints as the lender were members of an earlier body.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
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    LostShepherd wrote: »
    Don't worry I will ignoring any know it all negativity along the way :)
    Good idea. Complain regardless. Why ask the forum if you are proceeding anyhow?

    The thread was started in 2012 and no one at all has returned to report any success.

    By all means ignore such "negativity".
  • derrh2
    derrh2 Posts: 15 Forumite
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    Hi ive recently remembered that i had car finince with capital bank i have a referance number it was set up in dec 2006 not sure if i have ppi with that as i have no paperwork is it worth ringing black horse as i know some were transferred to them
  • DragonDancer
    DragonDancer Posts: 3 Newbie
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    Hi,
    I have just been reading through this thread, as the first loan that I ever took out was for car finance, but was directly from Capital Bank back in Aug 1993 for a private car sale. I have no details of the loan itself, and all bank statements from that time have long been destroyed. Would this come under the 2005 regulations?
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
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    DragonDancer wrote: »
    the first loan that I ever took out was for car finance, but was directly from Capital Bank back in Aug 1993 for a private car sale. I have no details of the loan itself, and all bank statements from that time have long been destroyed. Would this come under the 2005 regulations?
    Certainly the Bank would already have been regulated for Insurance sales in 1993 but, a quarter century on, do you really expect there to still be any records of this long ago loan? Do you even know for sure that you purchased PPI?

    I very much doubt you'll be able to progress this...
  • DragonDancer
    DragonDancer Posts: 3 Newbie
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    I know for certain that I took out PPI, as I was told that I would not be able to get the loan if I didn't. Finding out later that this was untrue, I have never taken PPI out on any credit since.

    I agree that it is highly unlikely that I have a chance of claiming after all this time, which is a shame because it was most definitely mis-sold.

    Many thanks for your time.
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
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    edited 22 September 2017 at 1:23AM
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    DragonDancer wrote: »
    I was told that I would not be able to get the loan if I didn't.
    One of the weakest complaint reasons, this, because it's not something you can present any documentary evidence of. The passage of time is also against you; why did you not complain when you found out years ago that the insurance was not compulsory?

    Regardless, 24 years on, the chances of there still being any records at all of this finance are very slim indeed.
  • Tmars2005
    Tmars2005 Posts: 2 Newbie
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    My Partner has just reclaimed over £1000 from Capital Bank PLC for a car loan from 2003. It's never too late to try!!
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
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    Tmars2005 wrote: »
    My Partner has just reclaimed over £1000 from Capital Bank PLC for a car loan from 2003. It's never too late to try!!
    2003 is nowhere near as long ago as the 25 year old finance the posters from 2012 & 2013 were complaining about.

    Regardless, well done on your success from 15 years ago.
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