PPI Time Limitations

[Turboman]

Di---you ever come across a case whereby the 3 year rule has been brought into play?

http://fshandbook.info/FS/html/handbook/DISP/2/8#DES223

DISP 2.8 Was the complaint referred to the Financial Ombudsman Service in time?

DISP 2.8.1
01/08/2011
FCA

1, 2The Ombudsman can only consider a complaint if1) the respondent has already sent the complainant its final response; or
(2) eight weeks have elapsed since the respondent received the complaint; or3
(3) in relation to a complaint the subject matter of which falls to be dealt with (or has properly been dealt with) under a consumer redress scheme:3(a) the respondent has already sent the complainant its redress determination under the scheme; or3
(b) the respondent has failed to send a redress determination in accordance with the time limits specified under the scheme.3



DISP 2.8.2
01/08/2011
FCA

1, 2The Ombudsman cannot consider a complaint if the complainant refers it to the Financial Ombudsman Service1) more than six months after the date on which the respondent sent the complainant its final response or redress determination; or3
(2) more than: (a) six years after the event complained of; or (if later)
(b) three years from the date on which the complainant became aware (or ought reasonably to have become aware) that he had cause for complaint;
unless the complainant referred the complaint to the respondent or to the Ombudsman within that period and has a written acknowledgement or some other record of the complaint having been received;
unless3) in the view of the Ombudsman, the failure to comply with the time limits in DISP 2.8.2 R or DISP 2.8.7 R4, 5 was as a result of exceptional circumstances; or
(4) the Ombudsman is required to do so by the Ombudsman Transitional Order; or
(5) the respondent has not objected , on the grounds that the time limits in DISP 2.8.2 R or DISP 2.8.7 R have been exceeded4, 5, to the Ombudsman considering the complaint.

Turbs

[di30]

Re: PPI Time Limitations

Is there a time limit for making a claim?

You must complain to the ombudsman within six years of the event complained about, or three years after you first became aware that you may have grounds for complaint, whichever is longest. For example, if you were sold PPI in 2005, you may still be able to take your complaint to the Financial Ombudsman Service if you only became aware of the possible mis-selling last year.
If your PPI policy has expired, you may still be able to claim, as the provider still may have broken the rules on mis-selling.

[Turboman]

Re: PPI Time Limitations

Thanks Di

But have you actually heard of either a business or the ombudsman invoking the 3 year rule and rejecting the claim?

Turbs x

Is there a time limit for making a claim?


You must complain to the ombudsman within six years of the event complained about, or three years after you first became aware that you may have grounds for complaint, whichever is longest. For example, if you were sold PPI in 2005, you may still be able to take your complaint to the Financial Ombudsman Service if you only became aware of the possible mis-selling last year.
If your PPI policy has expired, you may still be able to claim, as the provider still may have broken the rules on mis-selling.

[Never-In-Doubt]

Re: PPI Time Limitations

Yes it happens. It's happened on here so to bypass it you never put that you were aware 3 years ago. You say you only just became aware after seeing all the publicity / telly adverts.

If you've been arguing with the bank / FOS within the time limit and it goes over 3 years that's ok as it's not your fault and technically your complaint was in time.