ppi help

[rnp1966]

i sent off the fso forms to ge money which became 8 weeks old on the 23/12, i received a letter back after the 8 weeks saying they had closed the complaint, i called and asked why and it transpires they did it in error.

It was brought to my attention that as i put two claims (one for 2002 and one for 2004) only the last on would be looked at and i will need to send another complaint for the 2002 claim. The outcome will be that it is time barred.

I understand that i need to go to the FLA rather than the FSO as the claim was 2004.

 

any pointers in the right direction would be much appreciated.

[rebel11]

Hi rnp

 

They may claim it's time barred, but it's your money and you want it back, I would just pursue it see what happens. Here's some guidance note:

 

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

[dj1971]

Certainly is not time barred, no matter what they may tell you.

 

Personally, I would contact the FOS and ask if they will take on your claim. They will be able to advise you on your next steps.

 

Good luck

 

DJ

[zubo]

Certainly is not time barred, no matter what they may tell you.

 

Personally, I would contact the FOS and ask if they will take on your claim. They will be able to advise you on your next steps.

 

Good luck

 

DJ

 

I am taking a bank through court at the moment trying to reclaim ppi and one of their defences is statute of limitations.

 

This can be challenged if you investigate the term discovery.... Essentially the clock actually starts from the point you discover a problem...

 

Z

[rnp1966]

Thank you for the replys, i wil contact fos this afternoon

[rnp1966]

Letter back from ge money today stating as far as they are concerned all points raised in the 2004 complaints are not justified so they have closed the complaint do i now escalate to the fos for this one ?

[dirkuberpower]

Letter back from ge money today stating as far as they are concerned all points raised in the 2004 complaints are not justified so they have closed the complaint do i now escalate to the fos for this one ?

 

2 things.

 

1,Yes they can time bar, if you dont complain within 6 years of the mis-sale or 3 year from knowing that there is something wrong then its time-barred.

2, It does not fall under FOS jurisdication,you have already been told this. FOS cant help you. The FLA (Financial Leasing Assocation) may be able to help you.

[dirkuberpower]

They may claim it's time barred, but it's your money and you want it back, [/url]

 

 

that is actually wrong. If PPI was mis-sold then its a refund of premiums with 8% interest. If not mis-sold, like any other insurance you are not entitled to it back.

Insurance is not a policy to take out and gain premiums back years later.

[rnp1966]

2 things.

 

1,Yes they can time bar, if you dont complain within 6 years of the mis-sale or 3 year from knowing that there is something wrong then its time-barred.

2, It does not fall under FOS jurisdication,you have already been told this. FOS cant help you. The FLA (Financial Leasing Assocation) may be able to help you.

 

2, i have not been told this on the forum. You are of course saying that what w are told by ge money is to be taken without question.

[rnp1966]

that is actually wrong. If PPI was mis-sold then its a refund of premiums with 8% interest. If not mis-sold, like any other insurance you are not entitled to it back.

Insurance is not a policy to take out and gain premiums back years later.

 

I am aware that "Insurance is not a policy to take out and gain premiums back years later". So which lender do you work for?

[dirkuberpower]

I am aware that "Insurance is not a policy to take out and gain premiums back years later". So which lender do you work for?

 

ha ha, very good, I cannot say.

[dj1971]

rnp,

 

Have GE money said anything in their letter about this being their final decision?

 

If not, then you will need to write back to them and get their final decision in writing. Once you have this, you can refer their case to the FOS.

 

Good luck

 

DJ

[dirkuberpower]

Once you have this, you can refer their case to the FOS.

 

 

its already been stated its not under FOS jurisdiction.

[dx100uk]

2 things.

 

1,Yes they can time bar, if you dont complain within 6 years of the mis-sale or 3 year from knowing that there is something wrong then its time-barred.

2, It does not fall under FOS jurisdication,you have already been told this. FOS cant help you. The FLA (Financial Leasing Assocation) may be able to help you.

 

there is no time limit on PPI reclaims.

 

under limitations act sec 32c it 'when you became aware'

and

i dont know where this 3 yrs comes from either........

 

dx

[dirkuberpower]

You wouldn't know.

 

Yes it does exist, its in fsa's DISP rules. Some firms may excercise it as its not in line with tcf (treating customers fairly) and different interpretation of the rules. After the 3 years since knowing or 6 since the sale it falls out of fos jurisdiction.

Edited February 23, 2011 by dirkuberpower