PPI - The Funding Corporation

[Red76]

Hi

- has anyone managed to successfully claim back PPI from the Funding Corporation?

 

I took a loan out in 2004 and I am sure the PPI was mis-sold.

The loan was settled in full in 2007.

 

In between I tried to cancel the PPI but they told me it wouldn't reduce the monthly payment.

Amongst other mis-selling practice, I know I wasn't told about the limited cancellation period.

 

I have sent my first letter asking them to confirm PPI on the account and my intention to issue complaint.

 

Their reply just states that they believe as 6 years have passed since the PPI was sold they believe it is statute barred pursuant to Section 5 of the Limitation Act 1980.

I know this is rubbish.

However, they also state that they do not believe my loan falls under jurisdiction of the FOS as it pre-dates 2005.

I have seen a few other posts referring to this but can see no evidence of anyone following it up with them.

 

I know the FOS ultimately won't be able to deal with my complaint - any advice on a way forward with TFC would be great.

 

Thanks

[Red76]

I'm sorry, I should also have said that their complaints department never seem to pick up the phone on the number given - has anyone ever managed to speak to them?

[bigphil61]

Hi Red76, I'm currently in the middle of claiming mis-sold PPI with HFC Bank from 1998, so definately nothing stopping you from claiming back your missold PPI! I'm sure someone from the site team will be along shortly with advice on how to deal with TFC. BP

[Red76]

Hi bigphil61

 

Thanks and good luck with your claim. I am also claiming from LloydsTSB going back to 1998, its just that I get the impression that the Funding Corporation use the fact that they weren't FSA regulated pre-2005 as a reason to blanket reject/ignore all complaints. I haven't seen anyone post a success against them! I am going to fight it somehow though as I am sure of my case.

 

I also had a store purchase financed by HFC in 2003 - I'm not sure if I had PPI on it but want to get the ball rolling - how did you start with them?

[dx100uk]

hfc will prob claim the docs have been destroyed.

worth an SAR though, unless ou have the agreement.

 

the same with TFC

 

if you got the agreement.

 

they cant really argue.

 

dx

[Red76]

Hi Dx100uk

 

For TFC I don't have the agreement but its still on my credit report as it was closed in May '07. Plus they have already implicitly acknowledged the loan by replying in the manner they did? The thing I am worried about is they are saying the complaint is invalid as they weren't regulated by FSA pre-2005 and therefore I can't take it to FOS?

 

Incidentally, the monthly payment for the loan on my account is given as £177 on my credit report. I know I was paying approx. 230 a month, so the PPI must have been treated as a separate payment, even though I only paid 1 DD for the duration of the loan. Does this have any implications for the way the PPI was sold? I think the insurance may have been provided by AXA but I have no way of checking and I never dealt with anyone other than TFC.

[dx100uk]

have you sar'd tfc?

 

dx

[Red76]

No, but intend to pronto.

 

I have just sent a SAR to LloydsTSB re: other PPI claims.

[bigphil61]

Hi Red76,

 

I started the ball rolling with a SAR as I did not have the paperwork, I got enough paperwork back to start my claim!

 

BP

[intend]

Any update on this please? About to start process with tfc