PPI Reclaiming discussion Part III

showergirl

marshallka wrote: »

They do usually drag it out the full 8 weeks as they stall but think positive and you may get lucky...;)

Let us know how you get on..

Thanks to you and Di for your support. Will let you know if I hear anything. Hope you get better soon

marshallka

Neptune76 wrote: »

Hi Everyone,

I had a few loans with PPI on them a few years back. I had the PPI because most of the loans I took out I was told that because my credit rating was poor I had to take out the PPI or I prob wouldn't get The loan. Anyway I now know because of this brilliant website that this was rubbish!!

I am in the process of claiming back the PPI from the companies that Have miss sold me the PPI.

Last week I received a letter from A&L offering me a full refund with 8% interest witch I have excepted and await the cheque.:j


Not so good though with GE Money. Today I received a letter back from them saying;

Credit protection insurance was placed onto your account as this option was signed on the finance agreement in the dealership. I can also confirm that the dealership is independently authorized by the FSA to provide and sell insurance products directly. As the sale of the insurance was made with the dealership we would not be liable for this action and any issue surrounding the sale of this product should be raised with the dealership.

Does anyone have any views on this? Surly the hard sell of the PPI is directed by GE Money. I am unsure of how to go about my next step. Can anyone advise me on this please. Oh and the PPI option was not signed for. It was just ticked but not by me but by the sales person.


Steve

You need to take this complaint to whoever sold you the PPI in the first instance. If it was not GE that sold it they are right in telling you to go to the dealership here. Just make the complaint in the same way as you have to GE money and give them 8 weeks for respond.;)

marshallka

Neptune76 wrote: »

Hi, Well the loan was with GE Custom Finance. I got the loan from a company that offered car finance. How it worked was, I went to their office and then they drove me to a dealer to choose a car then took me back to their office to sort out the finance. They told me that Unless I took out the Insurance I wouldn't get the loan. They did not offer any other insurance.

Steve.

Well Steve if that is the case you were missold this as it was NOT compulsory to the loan.

Just take a look at the link here and see what you can add and delete from the template letter. Its always best to do your own from this. There are lots of reason on there for the misselling so pick out the ones that are applicable to yours.

You then write to the firm that actually made the sale of the PPI to you if this is different from the lender and don't forget to send this recorded delivery so you always a proof and dates etc.

After that you have to give them 8 weeks for a full and final response. In this time it is usual to get a response of "sorry we sold this to you fairly" but you then respond to this and reiterate your complaint again. The next time they write they either give you a final response which you would need in order to take this complaint to the FOS or offer to settle.

http://www.moneysavingexpert.com/rec...urance#reclaim


Good luck

marshallka

di3004 wrote: »

Hi Max.
Now SAR info wise is 6 yrs in order for them to provide the info, yet some may be lucky beyond that which they may keep on microfiche.

I think your right here Max.;) regarding the PPI mis selling.

I got mine from co-op going back further than 6 years... Although it was only the agreements that they had and not the statements of account.

marshallka

Neptune76 wrote: »

Hi, Thanks for your reply. When you say front loaded what do you mean? I still have the loan agreement! Basically there is a separate box for credit protection insurance with my name in it and the box ticked. None of this was written by me. All i did is sign.

Front loaded actually means that the PPI was paid as lump sum in the beginning of the loan and was actually another loan on top of your orginal loan. As this is another loan on top there is also interest on it too for the full term of the loan so in actual fact its a very costly way of paying for a premium. What the sellers often do is tick these for you so no need to worry about the tick box as you state "not ticked by you".

marshallka

di3004 wrote: »

Marshallka

Hope your feeling better hunni, you rest and only come back when you feel better, we can manage, although I am not as quick as you.;) lol.

Get better real soon hun and don't worry about me, its all under control, you know what I mean.:D :A .

Di.
xxx

I am well enough to post on here Di but still feel rough.. my hubby has got it now and has gone to work with it so feel really guilty as at least I am able to rest at home.

marshallka

showergirl wrote: »

Thanks to you and Di for your support. Will let you know if I hear anything. Hope you get better soon

Arrr, thanks for that showergirl. I wish I could have helped out yesterday but back now...

marshallka

A bit of news here from the AFB...:rolleyes:

http://www.mortgageintroducer.com/mortgages/232751/4/Today's_breaking_news/AFB:_End_to_single_premium_PPI_would_harm_consumers.htm

marshallka

Still no payment into my account from the co-op and 5 days are up now(like they said in THEIR letter). Will wait until the end of the week and then take this back to the adjudicator...:mad:

marshallka

And more news about mortgage protection insurance here...

http://www.moneymarketing.co.uk/cgi-bin/item.cgi?id=178073&d=340&h=341&f=342