Thread: PPI from Loans.co.uk with FOS need help|!

Hi I filed a complaint about 16 months ago through the fos. This was for a loan taken out with Loans.co.uk with GE Money. When I wrote to GE money to try and claim this back they told me that Loans.co.uk had sold the insurance policy to me so I wrote to Loans.co.uk and they said that we had agreed the PPI and that was the end of it. Anyway, my complaint form was sent to the FOS some 16 months ago. Today I have received a letter from the FOS saying that "this may be outside their jurisdiction, as the policy was from Cardiff Pinacle not Loans.co.uk. They are writing to Cardiff Pinacle to see who sold me the PPI.

I know that the loan was taken out through Loans.co.uk and they did all the leg work, ie finding the loan and telling me how much the PPI was. As far as I can remember I never spoke to Cardiff Pinacle this was all dealt with by Loans.co.uk. Loans.co.uk even say on a letter I have that they sold me the PPI insurance.

I am so worried now, I guess I need Cardiff Pinacle to tell the FOS that Loans.co.uk sold the PPI and not themselves. If this isn't the case will I have to start again as at the moment my claim is against Loans.co.uk and not Cardiff Pinacle. It has taken so long already and it seems I have got no where. Do the FOS sound to you as if they think I don't have a claim.

Sorry if this muddled, but hoping someone can help or has been in the same situation. X

Thanks alanalana, I am just worried that my claim should of been against Cardif Pinacle and not Loans.co.uk, although it was them as far as I am concerned that sold me the loan and PPI. I can remember back in Feb 08 I spoke to someone at Cardif Pinacle and they told me that no insurance documents had ever been sent to me and I should complain to the fos I have the persons name written down that I spoke to. The thing is the loan and the PPI was sold by Loans.co.uk and this is why the complaint was about them. I never spoke to Cardiff Pinacle, just Loans.co.uk. I am not sure really what the FOS are saying, apart from that they are contacting Cardiff Pinacle to see who sold me the PPI. I am just so fed up that it has taken 16 months to now be told that I may not be able to claim for mis-selling from Loans.co.uk.

Just an update.

Spoke to the fos yesterday, case for PPI (Loans.co.uk). They told me that they are trying to claim back from Cardiff Pinnacle who were the insurance company.

The case has now been with the FOS for 19 months! they say they have a conference call booked between the FOS lawyers and Cardiff next week to discuss all cases (hundreds of cases). Unfortunately the PPI was taken out before 2005 and I am not sure that it is looking good. The only thing I do have is that someone from Cardiff actually told me that I was never sent any documentation for the policy and that I should complain to the FOS! I have given FOS her name but I don't have a date of the phone call as it was over a year ago, although I guess they record calls.

Wonder if anyone is in the same situation or could offer some advice. Thanks

Hi, Im in exactly the same boat as you, issued a claim through the courts only last Mondayfor refund of PPI with interest, now totals £9,400.
This will total £21.000 with the 8% statory iterest added at Court.

I spoke to Cardiff Pinnacle, (they have not replied to any of my letters since April 09) in May and they confirmed that they were unable to locate any Policy documents.Iasked if they would still hold information as far back as 1999 and was told the system would still show it as being issued.

G E have been appauling to deal with, I am sick to death with them now, backwards and forward passing it around the not answering letter, so now with the Court, will keep you up dated if you like.
This is for First National Bank in 1999 now owned by G E.

Have also another PPI claim issued for PPI totally £21.000.with GE / London mortgage

P S Also have found on the net and I quote

"Burgess says to many policies were taken on board without sufficiant underwriting or checks arried out and hs accused Cardiff Pinnacle of dropping customers at the first sug an economic downturn

Burgess says "Pinnacle has been inept as it wrote high risk insurances without doing proper checks They did not determine from the onset whether polices were suitable to be underwritten They have not treated customers fairly and been driven by greed just when there may be people who will need these policies more that ever.

Good Luck
Bach

Thank you Bach for you response.

I too am sick of this now, I am hoping the fos can win this for everyone. If anything I would like Cardiff to have to pay out to the hundreds of people because of the dodgy way the policies were sold - especially with no documentation.

Yes, please let me know how your case goes and good luck. X

Scrapper, they will not admit to anything, have you thought about contacting the FOS for advice.

Another update.

The fos inform me that their solicitors have spoken with Cardiff and are writing to them with their recommendations with regards to claiming back PPI. The FOS tell me the next step if Cardiff refuse is that they (FOS) will take it to court. So think still will have to wait a long time but they are still fighting for me and others in the same position.

Just another thing I got sent by Martin Lewis today:
Massive new PPI misselling crackdown. 185,000 rejected loan insurance reclaim cases may be reopened. Reclaim £1,000s now
If you've got or had a loan in the last six years, you could be entitled to £1,000s back. Even household names have been misselling Payment Protection Insurance (PPI) alongside their loans. Regulator crackdown: The FSA's announced 'tough new measures' saying 40% of single-premium policies, the most common type, sold since Jan 05 will be investigated & if missold, providers must offer customers refunds. Old cases reopened: It's also considering reopening 185,000 previously rejected complaints - no surprise after recent stats showed for lenders like Lloyds TSB, Egg & Capital One, over 90% of cases they rejected, got awarded compensation if they reached the Ombudsman

hiya tagal

Yes there days are numbered as the FSA and fos are getting tired of the fob offs the consumers are facing.

Have you read the latest article by the FSA in its entirerty makes interesting reading.

Good Luck to you

Regards

PF

Hi Tagel
Any latest news on this.

I have a claim against Cardiff Pinnacle, that the fos are passing onto an adjudicator.

Regards

Hi Garyca, I spoke to the Ombudsman yesterday. The latest is that they have now heard from Pinnacle with regards to the letter the fos legal department sent. Pinnacle are appealing against the claim. I think I understand correctly, that it seems to be about who was actually responsible for the sale of the PPI. The FOS told me that it is now with the head Ombudsman and their legal team. Unfortunately I never hear anything from the FOS unless I ring them, so I ring them monthly for an update. Its been about 22 months now, but the FOS are still fighting so maybe they think that we have a case. I think it will be a long wait still. The fight goes on. Also just waiting for new template letter for new bank charges letter and will be fighting that again as well.

Cheers Tagel
I will call them next week for an update as well.
I will post if i hear anything different.


Regards

Still waiting, been with fos 26 months now! Their legal team are involved now with my claim for PPI with Cardif Pinnacle. It's taking so long but they are still fighting for me, apparently legal process takes a long time. Wondered if anyone else has a claim with Cardif - the FOS tell me there are about 1300 claims. So fed up now!

Hi tagel

I'll be very interested to see what the outcome of your case is.

I also had a PPI case against Pinnacle Insurance for a loan taken out in July 2004. Pinnacle were the Insurance underwriters.

Anyway my case has been with the fos for wellover a year,and on Monday i got a letter from the ajudicator with the FOS.

Which says

I am sorry to have to tell you we were unable to investigate your complaint about Pinnacle Insurance Plc because the event you have complained about (the sale of Payment Protection Insurance) took place on a date before the sale of insurance policies by this firm became covered by our jurisdiction and the transitional arrangements in place that can extend our jurisdiction in certain circumstances do not help in this instance.

Hope you have better luck.

When was your loan taken out?
If it was before 2005 like mine, i can't understand why its taking over 2 years to sort?

Regards

Hi Garyca my loan was taken out in 2003 with Loans.co.uk. I spoke to the fos this week and they say that my case is with their solicitors, they are waiting for a response back from Cardif legal team and this is what seems to be taking the time. They tell me because it has gone this far (to the head adjuicator and legal team) it will take time for the two parties to correspond.

With regards to your claim, does this mean that is the end of it. When I speak to the FOS they tell me that it may end up going to court if Cardif still disagree. I can't understand why your case has been dismissed by the FOS - unless of course my letter is in the mail, although they still say that I have a case.

Tracey

I know i can't understand it myself.
I know Pinnacle were members of the FSA from 2001, but were not members of the GISC.
I will give them a ring this week to clarify.

I found this below in regards to the fos and PPI.


transitional arrangements for insurance intermediaries

In issue 42 of ombudsman news, we noted that our jurisdiction has recently expanded to include insurance intermediaries. This article outlines the insurance intermediary activities that are now covered by the Financial Ombudsman Service. It also explains the arrangements for dealing with relevant transitional complaints – those that concern events that occurred before insurance intermediaries joined our jurisdiction.

firms within our jurisdiction
From 14 January 2005, the following activities became regulated by the Financial Services Authority (and therefore fell within our jurisdiction):

dealing in insurance contracts as agent

arranging deals in insurance contracts

advising on insurance contracts

assisting in the administration and performance of insurance contracts. This means that many firms which carried out such activities and were previously outside our jurisdiction – such as insurance brokers – are now covered by the ombudsman scheme. We also have jurisdiction over firms that have been granted interim permission by the Financial Services Authority to carry out general insurance mediation activities.
There are a few specific exceptions to this extension of our jurisdiction:

travel agencies – when the insurance is sold as part of a package holiday

retailers – when selling extended warranties on some goods, such as refrigerators and televisions

loss adjusters – but not loss assessors who act for customers in relation to insurance claims; and

the handling of insurance claims on behalf of insurers under a delegated authority. retrospective jurisdiction
As well as having jurisdiction over complaints about events occurring on or after 14 January 2005, the Financial Ombudsman Service also has a limited ‘retrospective’ jurisdiction. This covers some complaints about events that occurred before 14 January 2005. The retrospective jurisdiction comes about because of provisions set out in a statutory instrument informally known as The mortgage & General Insurance Transitional Order. The Order allows us to look at complaints about intermediary activities that occurred before 14 January 2005 if:

the firm was a member of the General Insurance Standards Council at the time of the event complained about

the complaint would previously have been covered by the General Insurance Standards Council Dispute Resolution Facility

the complainant is an individual who is acting otherwise than solely for the purposes of his business; and

the firm became regulated by the Financial Services Authority on or after 14 January 2005. Such complaints are known as relevant transitional complaints. While we will determine them in line with our ‘fair and reasonable’ jurisdiction, we must also take into account what the General Insurance Standards Council might have decided. We will not have jurisdiction over any complaints that the Council was already handling before 14 January 2005. Our usual time limits will apply.
In a future issue of ombudsman news we will include case studies illustrating some of the jurisdiction issues surrounding transitional arrangements for intermediaries. In the meantime the following flow chart should help to clarify which retrospective complaints we are able to look at.

Dear Garyca,

Let me know how your phone call goes as surely they can't say no to one person and yet carry on the fight for another. Its all very complicated and I don't understand much of it. I do get fed up of ringing them but I never hear anything unless I ring them.

I will keep you informed if I hear anything too.

Good luck, Tracey

Will do tagel.
The ajudicator that was on my case is not around at the moment.

Reading my letter again i'm even more puzzled.

A paragraph i didn't take in at the time.

However, i am presently investigating the possibility of raising your concerns with the underwriter of your policy, ie the insurance company who actually provided the cover under the policy. It would be helpful if you could provide us with any information you have on the underwriter of your policy.

Seem to be going backwards here. The fos have had all my documents and know that it was Pinnacle insurance who were the underwriters, which was my complaint in the first place, over a tear ago.


When ive spoken to him, i'll hopefully know more and what is happening

Garyca, my original complaint was with Loans.co.uk. The fos said that this was out of their jurisdiction and therefore said that Cardif Pinnacle were the underwriters and so the claim should be with them. Cardif disagree but the FOS are apparently in discussion with Cardifs legal team. So not sure what will happen but as yet the FOS are still pushing for a refund for me. I hope that you manage to speak to the ajudicator, although when I speak to mine he tells me because it is with the legal team and he has to wait to hear from them - which is the thing that is taking the time. Who was your original loan with - seems if they have got their wires crossed if you have already told them that Cardif are the underwriters. Let me know how it goes and I will keep you posted also.
Tracey