Funding Corporation - possible reclaim of ppi

[intend]

Having sorted out son in laws debts thanks to this site and taken control of the situation,

 

I am looking to reclaim any ppi he might have had on a series of loans he had when trying to support his parents

whilst his mother was terminally ill and his Dad a full time carer.

 

had a credit report and

 

as well as Welcome - a nightmare to deal with and currently on back burner

- came across The funding corporation and a loan from August 2004 til October 2008 - 50 months at £81

- looks like no defaults on it but suspect some form of ppi.

 

Read a few old threads on various sites which all seem to peter out very quickly due to not being regulated by FOS.

 

Guess starting point is a SAR to TFC as have no paperwork and see what turns up.

 

in meantime will trawl the web for any info/success stories.

 

sorry for typing - just out of hospital after op - only got wrong hand to type with

- will also start a thread for the lloyds loans he has/had when i can make some sense of the timeline.

[hillards]

A SAR is needed so you can look at the agreement and confirm if there was PPI, and how much. If you are dealing with this on his behalf you will need a signed letter of authority, you may already have found that out with Welcome.

 

For your information - http://companycheck.co.uk/company/04055624/THE-FUNDING-CORPORATION-LIMITED

THE FUNDING CORPORATION LIMITED

Registered Address: I M House, South Drive, Coleshill, West Midlands, B46 1DF

 

I'm just on with Welcome - http://www.consumeractiongroup.co.uk/forum/showthread.php?415458-Welcome-PPI-claim-pre-2005

[intend]

Cheers hillards - thanks for address - will type up SAR letter today and send off. off to read your thread on Welcome and refresh my memory of my dealing - know involved the compensation scheme people (FCSC?) but got no joy.

 

guess it is going to be a long process

 

intend

[intend]

SAR letter signed for - will keep you all updated with any developments - 40 day clock ticking.

[intend]

Playing silly buggers - letter today saying signature does not match. Delaying tatics just make me more determined.

[intend]

Still awaiting info - had to send copy of driving license and now utility bill for change of address. Still plenty to be getting on with.

[hillards]

Are you sure you are you any more...?

[intend]

Not when I look in the mirror!!

[hillards]

Not when I look in the mirror!!

Oh - I see what you mean !

[intend]

Got all info from TFC - ppi of £700 on top of a loan for £2000 - work that out at 25% of monthly payment down to PPI. About to input into spreadsheet. Hope my % calculation correct!

 

Also has about a dozen unpaid DD fees of £25 - is it worth reclaiming these? - sure that the amount acceptable was reduced to £12, plus letter fees of £85, ranging from £15 to £30 per letter.

 

Have been off-line for a while - had surgery and off work for 6 months then really busy with work - but good to be back - off to look at the Llyods ppi now.

 

All advice gratefully received.

 

Intend

[intend]

Loan was taken out in August 2004 - does this mean it was not regulated by FOS?

[maroondevo52]

Loan was taken out in August 2004 - does this mean it was not regulated by FOS?

 

Hi,

 

To the best of my knowledge, the Ombudsman claim that they can't consider any complaint against a company because the ppi policy was sold before 14 January 2005, the date when all businesses selling insurance became regulated, only if the seller was a member of a precursor to the FSA, like the GISC

 

Although general insurance broking was not subject to the jurisdiction of FOS until 2005, if the firm subscribed to the General Insurance Standards Council's code of practice at the time it will do if the firm subsequently came under FOS jurisdiction and, since all consumer credit licence holders now are, I think it might.

[intend]

Thanks for input - FOS questionnaire just completed and about to post off. Been busy so this has been on back burner - not feel up to the challenge of taking these on.

[intend]

TFC were members of The Association of British Insurers and signed up to the Code of Practice for the selling of General Insurance. Hopefully this allows the FOS to investigate. All the paperwork from TFC states that if unhappy could I may be able to complain to FOS - guess the "may" will stump me!!

 

Also requested they repay late payment fees of £25 on grounds the PPI contributed to financial hardship.

 

Form and letter off tomorrow.

[maroondevo52]

 

Form and letter off tomorrow.

 

Good luck with that.

[hillards]

Also requested they repay late payment fees of £25 on grounds the PPI contributed to financial hardship.

Needs to be made as a totally separate claim - I did PPI first and then claimed charges, just in case there was anything that affected interest applied or the charges themselves. That could have meant duplication of an amount being claimed.

 

Say they said that a PPI amount was the cause of a default charge being applied, through going overlimit, then they should repay that as part of the PPI claim. In effect, you cannot determine the total amount of charges until they've cleared the PPI claim IMHO obviously.

[intend]

Acknowledgement rec'd from TFC so clock ticking - not hopeful of easy claim but prepared to battle with them

[intend]

Letter rec'd - claim rejected. Will post up details when I get sight of the letter. Not surprised from what I have read about TFC. Will need some sound advice on how best to proceed but will not give up without a fight.