Ford Credit PPI - FOS say No!

[mishel02]

Hello

I need a bit of advice. Ive recently started a claim against Ford Credit for a mis-sold PPI policy when I bought my car in 2004. I was told by the salesman I would need to take out PPI (their platinum policy!) in order to get the credit, he said this was because my credit rating was not very good and they needed to be protected.
Anyway the loan was only for 3 years and it was finished in 2007. I wrote to Ford stating why I was mis-sold and I got the standard letter we are looking into it.
A few weeks later I had a responce from them saying I was not entitled to a refund because I had signed for it and then recived the policy documents in the post. I sent another letter asking them to reconsider and I got a final responce letter from them saying they were not present at the sale so can not verify what was actually said by their salesman.
I proceeded to report them to the FOS, anyway a few weeks later I have been told by the FOS they cannot investigate as Ford were not registered when I took out the PPI.
Where do I stand now and where do I go from here?
Please help I dont want to give this up?

[Scrappy01]

Try the FLA (Finance & Leasing Association)? Ford should have told you at the bottom of the final response letter who you could refer the complaint to and how long you had to do this, usually its 6 months.

[mishel02]

Thanks, they said to go to the FOS within 6 months which I did and they said no. Ill try the FLA, thanks.

[Scrappy01]

GE Money said the same to me, then changed it to FLA in the final letter. Perhaps just call the FLA and ask them about if Ford is a member.

[lilal]

my exprience of the fla is DON,T BOTHER .they are nothing more than an extension of the banks that are members .the fla do not regulate or can tell the banks what to do,whether it is right or wrong .i wrote to them in nov ,ge sent a letter back word for word what they sent me 2 months previous.fla IS funded by the same bank you are complaining to.go to cab and they will assist you in making a small claims action.this is the route now for me .

[juliex]

hi

we had a ppi with ford credit [platinum cover] never recieved policy through post, also took it out on a car in dec 2006 have just traded car in for another one declined the ppi, i am self employed with a business and was at the time of taking it out, they also never metioned any of the usuall questions i'm hearing of ie:- exsisting conditions do u think it is worth trying to reclaim it many thanks

[alanalana]

Hello Mishel,

do not despair. I am not totally familiar with car credit but.....

Firstly have you submitted a S.A.R - (Subject Access Request) to Ford credit? asking for all the information relating to the Consumer agreement.
Do you have the original paperwork for the agreement?

The first letter from Ford credit is a standard fob you off letter to make you go away.

I got a final responce letter from them saying they were not present at the sale so can not verify what was actually said by their salesman

So these people do not keep records! How Clever is that? so how do they then state the PPI was not missold?
Ford may not have been registered at the time you took out the loan but they have to be regulated by someone!!

I will make a few visits online to see what I can find out about Ford credit and get back with any relevant information as soon as possible.

A possible problem is the timescale the FOS cannot deal with any PPI issues prior to 14 Jan 2005 as that is when the FSA stepped in with directions on the PPI issue.

Chin up

aa

[alanalana]

Hello Mishel,

this is a link to the Financial Services Authority (FSA) and Ford credit is definately on the FSA register so a complaint to them may help get the ball rolling

FSA Register

This is the information from the FSA Register search on FCE Bank plc
Basic details for:

204469 - FCE Bank Plc

Current status:Authorised Effective Date:01/12/2001 Tied Agent:Undertakes Insurance Mediation:
Registered under Money Laundering Regulations: (this is the link to MLR 2007 http://www.hm-treasury.gov.uk/media/...ations2007.pdf
Address:
Central Office
Eagle Way
Brentwood
Essex
CM13 3AR
Phone:
Fax:
Email:
Website:
44 01277 692 900

No email address supplied

Notices:UK authorised firms who have a deposit-taking permission do not usually need to obtain separate permission from the FSA to receive money from clients.

Ford credit are listed under FCE Bank plc so let me see what else I can find for you.

aa

[alanalana]

hello again,

the FCE are not members or associate members of the British Bankers Association ( Now there's a suprise )

This is the link to their website:
Fce Bank Plc

More to follow if I can find anything for you

aa

[alanalana]

Mishel please check out these additional links

FCE Bank Plc - Company Overview

This website shows you are not alone in you dealings with FCE

Kommisar vs FCE Bank plc - Penalty Charges Forum

Ford's FCE Bank plans 5-year euro bond -lead | Deals | Regulatory News | Reuters

and one from moneysavingexpert forum

PPI on vehicle finance - MoneySavingExpert.com Forums

http://www.mylocalservices.co.uk/Her...nk_Plc.htmlAll of the above are FCE Bank plc links of one sort or another. Yet another large organisation being greedy.

aa

[alanalana]

Mishel,

I would complain to the FSA and the head office of Ford Credit (FCE Bank plc) about their underhand refusal to refund missold PPI.

hope all of the above helps your cause

aa

[lilal]

i don,t think it is timescale that governs a complaint the fos takes on.the company being complained about had to be members of organisations that were disbanded upto jan 05 ,like the gisc ,ring fos they will tell you if they can help .