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PPI Reclaiming Discussion part 4
Comments
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Hi there, this is my first post here, so please be gentle with me! We took out a 10 year loan for some new windows with GE money just over six years ago, PPI was sold to us over the phone, really felt we could n't say no. The PPI only lasted for 5 years which was not explained to us. GE have just replied to out 'letter one', basically they say that because we took out the policy over six years ago they do not have to investigate the claim, they would find it too difficult to find the relevant documentation and we can complain to the Finance and Leasing Association but they would be unlikely to assist us. So where do we go from here? Should we give up? Any help would be greatly appreciated.
Hello and welcome.;)
Sorry to hear this, that's the thing with older loans etc, just because they were nort regulated then they do tend to fob off, but if they have suggested the FLA, contact them and let them know that GE Money have told you to go this direction.
I am sorry I have not gone this direction myself, but some have and may post up with their experience, good luck and more details on FLA here:
http://www.fla.org.uk/fla/The one and only "Dizzy Di"
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i really feel sorry for you, this is a bad situation to be in. i am not sure and maybe someone who knows more about this will tell you better, but you will have to pay them, they did you a service and now its payback, i am sorry this is not what you need to hear but a lot of people go to claims companys and pay a fee, when you can do it yourself for the cost of a couple of stamps and the help of the people on this siteMe and my husband have a loan with first plus, we took a payment protection policy with it which we were advised we would get back the premiums after 5 years if we did not make a claim. Since all the headlines for re-claiming PPI we decided to try this. We used one of the third party companies and we have received an offer after only 4 weeks but I need advice on what to do now. In total we are receiving back over £6000 but they are paying £3800 to the loan account and then I would receive the rest totalling just under £3000 for interest and payments made, the company I have used are charging me £2700 and I will be left with £190 approx. I asked them the question that if I do not accept what would happena dn they have told me that I would still have the same fee to pay. I need advice and HELP!!!!0 -
hi there, thats rubbish, go to fos, good luck with this, i have yet to hear about anyone being sold ppi in an upfront honest way, this company will be no exception trust me!!Hi Can anyone help me please, I took out a loan with The Funding Corporation in April 2005. The loan has since been paid off but I was told that I had to take out PPI in order to receive the loan. This was set at the highest level of Platinum. I used the template letter on this site to write to them and yesterday, seven and a half weeks later, I received a reply satting that they would not be refunding me the money on the grounds that there staff are fully trained and therefore would not mis sell insurance products and that that I had signed the form for PPI. They have also sent through a copy of an insurance needs analysis tick sheet which I have never seen before! Where do I go from here - Help please!0 -
Hi Can anyone help me please, I took out a loan with The Funding Corporation in April 2005. The loan has since been paid off but I was told that I had to take out PPI in order to receive the loan. This was set at the highest level of Platinum. I used the template letter on this site to write to them and yesterday, seven and a half weeks later, I received a reply satting that they would not be refunding me the money on the grounds that there staff are fully trained and therefore would not mis sell insurance products and that that I had signed the form for PPI. They have also sent through a copy of an insurance needs analysis tick sheet which I have never seen before! Where do I go from here - Help please!
Hello there.;)
Did they mention that this was the final decision, and if so did they mention that you can complain to the financial ombudman service (FOS) from here?
If so then go to the FOS, you can ring them to arrange for them to send you the form, or you can download and print from their website here:
http://www.financial-ombudsman.org.uk/consumer/complaints.htm
Enclose copies of your correspondende within the complaints form.
If they did not mention any of the above, then write back and tell them you want this complaint reconsidered as you still strongly believe this was mis sold to you with your reasons given on your first letter, and tell them if they do not refund you, you will take your complaint further to have this investigated, such as with the FOS.
Good luck with this and please keep us posted, best to keep on at them.;)The one and only "Dizzy Di"0 -
Can anyone pls help me with working out my numbers?
Details as follows:
Amount of credit - £7000
Interest on Cash Advance - 1955.24
PPI - 1775.90
Interest on PPI - 495.46
Total payable - 11,226
The loan was originally for 84 mths but I paid it off early after @ 9mths.
I just want to make sure I know what to ask for and am hopeless with numbers.
Many thanks!0 -
Can anyone pls help me with working out my numbers?
Details as follows:
Amount of credit - £7000
Interest on Cash Advance - 1955.24
PPI - 1775.90
Interest on PPI - 495.46
Total payable - 11,226
The loan was originally for 84 mths but I paid it off early after @ 9mths.
I just want to make sure I know what to ask for and am hopeless with numbers.
Many thanks!
Hi hun.
Sorry I'm not good at working out calculations......:o and don't want to give you the wrong information, so hopefully someone will be along soon to take a look at them for you, good luck.;)The one and only "Dizzy Di"0 -
whole heartedly agree with all the above, i would investigate more on this, i would not be happy at all, the company went into default not the consumer, is everyone still making monthly payments on the loans, and if they are who are you paying it to? or if the company is in default do your loans get wiped off, i dont think so, this is disgusting, you were mis sold and that money is yours
I've never missed a payment. There are no arrears. The original adjudicator argued with me (I was at all times polite) that the FOS tell the company to put the refund into any outstanding account, I don't get cash. However I have a different adjudicator now. Don't know if this will make a difference. I mean Ive got this claim fast tracked on the grounds of financial difficulty. I still await the FOS decision. I emailed him yesterday telling him I couldnt pay my rent this month, begging to have the cash paid to me, not to the company. So far no reply.0 -
Thanks Di.
Hope so xx0 -
Hi there, this is my first post here, so please be gentle with me! We took out a 10 year loan for some new windows with GE money just over six years ago, PPI was sold to us over the phone, really felt we could n't say no. The PPI only lasted for 5 years which was not explained to us. GE have just replied to out 'letter one', basically they say that because we took out the policy over six years ago they do not have to investigate the claim, they would find it too difficult to find the relevant documentation and we can complain to the Finance and Leasing Association but they would be unlikely to assist us. So where do we go from here? Should we give up? Any help would be greatly appreciated.
Hi, just to let you know. I had the very same letter from GE Money telling me to go to FLA. I instead went to FOS who said that they could in fact look at it anyway. Well a few weeks have passed since that and the FOS have agreed to take the case on but they are pursuing the Insurance provider rather than GE Money.
So may be worth doing the same and give the FOS a ring.
Good luck and fingers crossed.If you see a penny, pick it up, all day long you'll have good luck !!!!!!0 -
Hi, just to let you know. I had the very same letter from GE Money telling me to go to FLA. I instead went to FOS who said that they could in fact look at it anyway. Well a few weeks have passed since that and the FOS have agreed to take the case on but they are pursuing the Insurance provider rather than GE Money.
So may be worth doing the same and give the FOS a ring.
Good luck and fingers crossed.
Thanks for posting this up barloo69.;)
Glad the FOS are looking into yours for you.The one and only "Dizzy Di"0
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