Beech Financial Management Limited PPI

[gaz776]

I have wrote on here many times in the past for advice and it was always well received.

I have been after PPI for a few years now and was struggling with one which was to do with Acenden and the broker was Beech Finance. I had struggled so I got Belmont Thornton to go after them on my behalf, although I would not recommend this company to anyone they are unprofessional and rude, however I did not find this out until I had already signed the contract with them. Putting that to one side and after a lot of mess around and 100 hundred phone calls pestering them to deal with it, I finally got a letter back today that states:

Beech finance state the PPI was not mis-sold although it clearly was as I was self-employed and was in a wheelchair due to it happening in the army and both were never asked or dealt with by Beech finance.

It also says at PPI was mis-sold over 6 years ago Belmont believe it is unlikely that my claim will be considered by the Ombudsman as it appears time barred from the courts and outside of the jurisdiction of the FOS.

Apparently companies such as Beech Finance were not a member of the FOS back then so if they don't want to deal with you they don't have to. Belmont told me I would have to take Beech to court other than that I am stuffed. I wouldn't mind but the PPI would be about 30K now.

Belmont dealt with another one for me Loans.co.uk which I took out at the same time in 2001 and both were paid off by 2003 in full including PPI, however that one has gone to the financial Ombudsman which may take up to 18 months to get a reply. Both loans were taken out at the same time, the same reasons for being mis-sold, one can go to ombudsman and be dealt with and the other can't, what is the point in the legal battle with PPI if every company doesn't have to follow the rules.

Is there anything I can do?

Many Thanks

Gareth

[di30]

Re: Beech Financial Management Limited PPI

Oh dear

I am so sorry to hear this and because of them not being regulated by the FSA I bet this was why they rejected, knowing that the FOS are not able to adjudicate complaints non regulated, if they were it wouldnt surprise me if they would have upheld it.

However, personally what I would do now is close down the business with the claims company and have a go at writing to the insurer of the business.
They would have highly likely been regulated being an insurer/underwriter and its the avenue the FOS will suggest.

Some of us have been successful in going this direction ourselves without the involvement of the FOS (in going the underwriter/insurer avenue).
So what you would have to do is, find out who they were, let us know and we can help you with a letter, or pm me.

I would not ask the claims company to do this for you, close the business and ask for any paperwork to be returned and remember it should be no win no fees to pay.

Hope this helps.

[gaz776]

Re: Beech Financial Management Limited PPI

Hi Di

Thanks for taking the time to write back I think its about the 4th time you have in the last 6 months and its appreciated. I had another PPI claim with loans.co.uk and they said it was not mis-sold so that has gone to the Ombudsman about 3 months ago, I then received a reply to tell me it would take 18 months or up to to get an answer, I won't hold my breath as things like this don't go my way usually, its for about 30K too.

With regards to Beech Finance the insurer/underwriter of the PPI was Market Management Services, I still have the certificate and it says its a Protective Payment Plan and covers for unemployment, death ect. I gave a copy of this certificate to Belmont a while ago but they got back to me saying that MMS said it was nothing to do with them as they were only the underwriter and it was Beech that mis-sold it.

So now I have explained that, what do you think Di?

[Sickofbullies]

Re: Beech Financial Management Limited PPI

I have this week had a case against First Response Finance-which has been rejected by the ombudsman-who suggested that I pursue the underwriter-does anyone have a template letter for this-if so can you please inbox me.-Thanks for your help.

[Sickofbullies]

Re: Beech Financial Management Limited PPI

Sorry I did not mean to hijack your post.

[di30]

Re: Beech Financial Management Limited PPI

Hi Di

Thanks for taking the time to write back I think its about the 4th time you have in the last 6 months and its appreciated. I had another PPI claim with loans.co.uk and they said it was not mis-sold so that has gone to the Ombudsman about 3 months ago, I then received a reply to tell me it would take 18 months or up to to get an answer, I won't hold my breath as things like this don't go my way usually, its for about 30K too.

With regards to Beech Finance the insurer/underwriter of the PPI was Market Management Services, I still have the certificate and it says its a Protective Payment Plan and covers for unemployment, death ect. I gave a copy of this certificate to Belmont a while ago but they got back to me saying that MMS said it was nothing to do with them as they were only the underwriter and it was Beech that mis-sold it.

So now I have explained that, what do you think Di?

Hiya

It's my pleasure

The underwriter will always say its nothing to do with them, so basically if there is no other way to go with this to getting your money back, due to the main broker not being regulated by FSA, or they are no longer active where again your unable to go to the Financial compensation scheme (FSCS) because they were not FSA registed, the FOS will always suggest the underwriter.

Now in regards of complaining to the underwriter, its all about wording of the complaint, as we are not exactly putting the full liability on to them but they DO have some liabilities and involvement of when the policy was set up for you.

You can see a copy of my letter if you wish, then I can PM you with it, it may help you along with your's.
Let me know, cheers.:tinysmile_grin_t:

[di30]

Re: Beech Financial Management Limited PPI

I have this week had a case against First Response Finance-which has been rejected by the ombudsman-who suggested that I pursue the underwriter-does anyone have a template letter for this-if so can you please inbox me.-Thanks for your help.

Sorry to hear of the rejection, and I can of course send you a copy of my own letter if you wish.