A couple of weeks ago we received two letters from a specialist PPI (Payment Protection Insurance) claims firm claiming that we had mis-sold PPI to two of our customers, at the time of signing them up for credit agreements for double glazing installations – one from 2004 and the other one we have no record of at all.
Both letters are identical standard letters apart from the names and addresses of the customers concerned. They did not state the date of the credit agreement, nor did they state the value of the PPI premium we allegedly sold. All they stated was that our representative failed to fully explain the details and conditions of the PPI and in their words “no doubt due to the high commissions we receive”.
The letters also stated that under FSA (Financial Services Authority) regulations, we have 5 days to confirm receipt of their letters, 8 weeks in which we must carry out a full investigation and submit our final response and that under no circumstances must we contact their clients (our customers!).
The two letters were received only one day apart from one another and due to the fact that we no longer sell PPI (and haven’t done for many years) and back in 2004 sold next to none, this is by far too much for coincidence and therefore I strongly believe that the PPI claims firm have been given access to the finance company’s (lender’s) database and that there maybe there is some sort of conspiracy going on there, and I question the legality of this?
I have just taken professional advice on this matter and basically, the situation is what I expected and hoped for. The credit agreement was dated in 2004, before sales of PPI were regulated. Therefore they cannot legally win a claim against us and the response time scales they are demanding do not apply. Furthermore, we are completely entitled to contact their clients as they are our customers, and I intend to.
Claims for mis-sold PPI insurance are a big thing at the moment and I’d bet my last dollar that the big players in the industry have received similar letters too, or will do in the near future.
To be honest, the financial claims leaches (and that’s all they are) that are attempting to extort money from good honest companies like ourselves and many others really get under my skin and if my predictions are correct, many other companies in the double glazing and conservatory industry that have been around a while will be receiving these claims.
If any other companies reading this have already received these types of unfair claims, I would be interested to hear from you.
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