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Can anyone provide me some advice about claiming PPI from Creation Finance
I set up my account with Resolver last year. I have been successful with a couple of my claims except for Creation
Who do I approach to claim PPI for Kall Kwik and Debenhams account opened up in the 1990s as I am getting knock back response from Santander
Creation Finance acknowledge I have did paid PPI when I checked but have received a letter today stating I was complicit when I signed up for the store card in 1990s, which is absolute rubbish as no one was really aware of it then until 10 years later. Can someone suggest what is my next move.
Here is an extract of the letter below;
The credit agreement you held with us was for a Dolcis store card account and commenced on 12/10/1995. As your agreement commenced prior to 6 April 2007, it falls outside the scope of the relevant complaint handling rules. However, your credit agreement will still fall within the scope of s.140A of the Consumer Credit Act 1974. As such, we have considered whether any undisclosed commission in relation to the PPI policy sold has made the credit relationship unfair.
In the circumstances of this claim, we do not consider that there was any unfairness. We have set out the reasons for this decision below.
The PPI product which you were sold was a regular premium PPI policy (one to which you paid an amount each month). The decisions made by the Courts in which unfairness has been found for a failure to disclose commission relate to single premium PPI (policies where a single lump sum is paid when the policy is taken out). The position in relation to a regular premium product is significantly different, as explained below.
Independent evidence taken by the Competition Commission during its review of PPI in 1994 established that due to the low monthly cost of regular retail PPI, customers were relatively unconcerned by the cost and they were therefore unlikely to make the effort to shop around as the potential savings were viewed as too little to be worth the effort of doing so. Due to this fact, the Competition Commission was therefore unable to justify a point of sale prohibition on the sale of regular retail PPI.
You had control over the PPI as you could elect to clear your monthly balances so as to incur no further PPI premiums, choose not to transact, close your account or cancel your PPI policy at any time without penalty.
For this reason, we do not consider there to be an unfair relationship in your case.
In light of the above factors, we have therefore decided not to uphold your complaint. This letter sets out our final response to the complaint.
Look forward to hearing an response.
Can anyone provide me some advice about claiming PPI from Creation Finance
I set up my account with Resolver last year. I have been successful with a couple of my claims except for Creation
Who do I approach to claim PPI for Kall Kwik and Debenhams account opened up in the 1990s as I am getting knock back response from Santander
Creation Finance acknowledge I have did paid PPI when I checked but have received a letter today stating I was complicit when I signed up for the store card in 1990s, which is absolute rubbish as no one was really aware of it then until 10 years later. Can someone suggest what is my next move.
Here is an extract of the letter below;
The credit agreement you held with us was for a Dolcis store card account and commenced on 12/10/1995. As your agreement commenced prior to 6 April 2007, it falls outside the scope of the relevant complaint handling rules. However, your credit agreement will still fall within the scope of s.140A of the Consumer Credit Act 1974. As such, we have considered whether any undisclosed commission in relation to the PPI policy sold has made the credit relationship unfair.
In the circumstances of this claim, we do not consider that there was any unfairness. We have set out the reasons for this decision below.
The PPI product which you were sold was a regular premium PPI policy (one to which you paid an amount each month). The decisions made by the Courts in which unfairness has been found for a failure to disclose commission relate to single premium PPI (policies where a single lump sum is paid when the policy is taken out). The position in relation to a regular premium product is significantly different, as explained below.
Independent evidence taken by the Competition Commission during its review of PPI in 1994 established that due to the low monthly cost of regular retail PPI, customers were relatively unconcerned by the cost and they were therefore unlikely to make the effort to shop around as the potential savings were viewed as too little to be worth the effort of doing so. Due to this fact, the Competition Commission was therefore unable to justify a point of sale prohibition on the sale of regular retail PPI.
You had control over the PPI as you could elect to clear your monthly balances so as to incur no further PPI premiums, choose not to transact, close your account or cancel your PPI policy at any time without penalty.
For this reason, we do not consider there to be an unfair relationship in your case.
In light of the above factors, we have therefore decided not to uphold your complaint. This letter sets out our final response to the complaint.
Look forward to hearing an response.
