PPI mis-sold by a firm [London Scottish] now in administration

[Fred_Funk]

Hi guys! It's like this...

 

Does anyone know if the Financial Services Compensation Scheme [FSCS] will now consider claims for mis-sold PPI dating from before January 14, 2005 [when PPI sales were first regulated by the FSA].

 

I know at one point they wouldn't but was wondering whether this remains the case given: [1] The FSA website states that the codes of the Association of British Insurers and, from 2001-2005, the General Insurance Standards Council were applicable to sales of PPI; and moreover [2] the judicial review brought by the BBA has now upheld this approach by the FSA.

 

Thanks in anticipation

Fred_Funk

[dx100uk]

unless you had a separate DD to the PPI provider

whomever you paid your PCM too is responsible

 

dx

[Fred_Funk]

Not entirely sure what a PCM is but I paid my PPI premium to London Scottish, who are now in administration.

 

My question is whether the FSCS will look at claims, such as this one, dating from pre 2005 [when PPi sales were first regulated by the FSA]?!

[dx100uk]

sorry dont know

 

ims21?

 

i take it this is the one still going on from your 2007 posts?

 

there several theads on here about them

 

all of which im sure your are aware and have read.

 

do you know who the insurers were? go after them?

 

Ernst & Young are the administrators, have tried them?

 

 

point 3 here looks interesting too

 

http://www.fsa.gov.uk/pages/Library/Communication/PR/2009/129.shtml

 

hth

 

dx

[Fred_Funk]

Rang the FSCS today and was transferred to Deloitte, who it seems are dealing with claims for mis-sold PPI on behalf of the FSCS.

 

Guy I spoke to was adamant that they couldn't consider any claims dating from before January 14, 2005 [when PPI sales were first regulated by the FSA]. Indeed he was so adamant about this that I'm inclined to believe that, at least in this respect, he knew what he was talking about.

 

However, when quizzed further on who, if anyone, I might pursue my claim with, he was very vague and failed completely to inspire any confidence that he knew what he was talking about. His view was that I could only pursue the broker, ie London Scottish, and that as they were in administration but beyond the remit of the FSCS that was the end of the road.

 

I asked him if, this being the case, I could pursue the underwriter - on the basis of whatever code they might have been signed up to at the time I took out the PPI - and his response was that this wasn't an option. However, I'm thought FOS guidance said otherwise and am far from convinced this advice is correct. In these circumstances, I would, as ever, appreciate the thoughts of my fellow CAGgers.

 

Thanks in anticipation

Fred_Funk

[ims21]

Have you spoken to fos about this?

 

Their suggestion of last resort would be to track down the underwriter and claim from them.

 

Since London Scottish are no more then a court claim wouldn't be an option in my view.