PPI Mis selling

amonag68

Hello,

I wanted some advice.

I have been actively claiming against loans that had PPI on them. My claim is because I was self employed and I deem the unemployment cover useless due to the fact that if became un 'self employed' due to the failure of my business then I would be bankrupt, the debt would die anyway and be handled by the official receiver.

I have submitted 4 claims against GE Money. The first loan account they have agreed to refund in full, another they are refusing saying that as its over 6 years old it doesnt fall under the jurisdiction of the Financial Ombudsman, even though the one they have agreed on is over 6 years old!!! And another they are saying bacause this was sold by St Helens Glass who are now out of business they cannot refund me due to the fact that they were not invloved in the point of sale. My belief is that they should be held to task as its their product and they would have been pushing St Helens Glass to sell this product for sizeable commissions no doubt.

Can someone please help and see if i am indeed still able to carry this claim forward or am i now wasting my time?

Cheers

Andy

di3004

amonag68 wrote: »

Hello,

I wanted some advice.

I have been actively claiming against loans that had PPI on them. My claim is because I was self employed and I deem the unemployment cover useless due to the fact that if became un 'self employed' due to the failure of my business then I would be bankrupt, the debt would die anyway and be handled by the official receiver.

I have submitted 4 claims against GE Money. The first loan account they have agreed to refund in full, another they are refusing saying that as its over 6 years old it doesnt fall under the jurisdiction of the Financial Ombudsman, even though the one they have agreed on is over 6 years old!!! And another they are saying bacause this was sold by St Helens Glass who are now out of business they cannot refund me due to the fact that they were not invloved in the point of sale. My belief is that they should be held to task as its their product and they would have been pushing St Helens Glass to sell this product for sizeable commissions no doubt.

Can someone please help and see if i am indeed still able to carry this claim forward or am i now wasting my time?

Cheers

Andy

Hi Andy

Sorry to hear if your having issues here.

Maybe someone could confirm this to you who ever have been with the same company as yourself, regarding regulation of this company and so.

If you cannot go through the Finanical ombudsman association, contact the FLA (Financial leasing association) who may be able to point you in the right direction.
Here is the website here, you should find the contact details here:
http://www.fla.org.uk/fla/

Fingers crossed.

Have you still the documents for these?
I would request a SAR (Subject Access request) but the company may only send you the information on your account(s) going back as far as 6 years only, yet I was lucky enough to receive info from years earlier, but not the same company as the one you mention, I will post up a SAR anyway in case you want to do this, even if you want to use it for other companies for reclaiming, I will post this in the post below.

Now if a company has stopped trading, liquidised in the last few years, you could also contact the FSCS, the compensation scheme to see if they have these on their list, if so, you will be able to reclaim from them, but contact them first by emailing or ring them, you will find contact details on their website here:
http://www.fscs.org.uk/contacts/

Sorry I am unable to help much in these issues here, but with a bit of luck somone will post up to help who have been in the same situation.

I will post the SAR below, they should send all the information they have on you by 40 days of request, there is a charge of £10 cheque or postal order payment for this, delete what does not occur to your request.
Good luck.;)

di3004

As promised in my above post, here is the SAR template letter, remember to post by recorded delivery and add your £10 payment.


DATA PROTECTION ACT 1998
SUBJECT ACCESS REQUEST

Date: xx:xx:xxxx

Dear Sir/Madam
Name xxxxxxxxxxxx
Account No’sXXXXXXXXXXXXXXXXXX


I understand that you currently hold details of my personal and financial information within your internal record systems with regard to personal loan accounts and credit cards accounts

I would be grateful if you would provide the following for ALL accounts or associated accounts I hold or have held with your organisation:

1. Full copies of all contracts which you believe exist or have existed between myself and your organisation, including true copies of any documents you hold in support of the same.
2. A complete list of all transactions or statements relating to ALL of my Loan Accounts with your organisation.
3. Copies of all documents which include any of my personal information including copies of any contacts or invoices, emails or computer records containing my personal information, or any records which pertain to this information.
4. Full copies or transcripts of any correspondence in postal, email or any other format which you have entered into with any individual, organization or third party which contains my personal or financial, or which pertains to me.
5. Where any previous information or records held have been deleted or disposed of, the methods used to do so, including dates, certificates or references confirming details of destruction. Where you are unable to provide such certificates, please provide a declaration, signed by an authorised officer of your company, confirming the dates and methods of destruction of this data.
6. Full hard copy print outs of my personal or financial information, held in a digital, magnetic or any other format which is held in any archives, backups or other storage devices / locations.
7. Underwriting sheet or other such document recording any commission (or other) payment made to an intermediary or packager, and/or payment/commission from the insurer in relation to my account.

Where you have used abbreviations and/or codes, I would request that an accompanying sheet be provided so as to translate these abbreviations and/or codes and their meanings, I also request an accompanying appendices of the documents included and reference to the purpose or meaning to those documents.

I request that you provide all the information requested above, even though you may consider that it falls outside Data Protection.

I reserve the right to refer to the contents of this letter if an application for pre-action discovery is necessary relating to any of the documents requested herein.

I enclose a cheque in the sum of £10 to cover your fee.

IF YOU ARE UNABLE TO DEAL WITH THIS REQUEST, YOU SHOULD IMMEDIALTELY FORWARD IT TO THE PERSON WITHIN YOUR ORGANISATION RESPONSIBLE FOR DATA PROTECTION.

I look forward to hearing from you in the first instance of receipt.

Your Faithfully.

amonag68

Many thanks for your help, most appreciated

Credit-Crunched

"the debt would die anyway and be handled by the official receiver"

not technically true, they would be able to chase you if you were trading as anything other than a ltd company.

are you a sole trader?

petermb_2

amonag68 wrote: »

Hello,

I wanted some advice.

I have been actively claiming against loans that had PPI on them. My claim is because I was self employed and I deem the unemployment cover useless due to the fact that if became un 'self employed' due to the failure of my business then I would be bankrupt, the debt would die anyway and be handled by the official receiver.

I have submitted 4 claims against GE Money. The first loan account they have agreed to refund in full, another they are refusing saying that as its over 6 years old it doesnt fall under the jurisdiction of the Financial Ombudsman, even though the one they have agreed on is over 6 years old!!! And another they are saying bacause this was sold by St Helens Glass who are now out of business they cannot refund me due to the fact that they were not invloved in the point of sale. My belief is that they should be held to task as its their product and they would have been pushing St Helens Glass to sell this product for sizeable commissions no doubt.

Can someone please help and see if i am indeed still able to carry this claim forward or am i now wasting my time?

Cheers

Andy

First issues first
Lenders do claim that PPI over 6 years old is not claimable. True if you are simply claiming premiums back under mis-selling. There are other issues that are not time barred and the six year is irrelevant.
secondly,
Dont let lenders bamboozle you. They sold the PPI, not the broker. It is irrelevant if the broker went out of business.

amonag68

Yes I am a sole trader.

wutus

Hi,
Can anyone advise me on whether to pursue a claim as I originally sent a letter back in November and after they eventually replied in Jan ( saying basically I was not entitled to make a claim due to the fact that PPI was explained in writing/ contract at time I took loan out even though I didnt really understand wot it was and just went along with it, they also sent a leaflet from ombudsmun , adding if I were to make a claim they would obv say I knew what I was taking. now after much diliberation ( dont know if spelt it right ) want to try again, should I ?? it would amount to at least £3000 and its with Welcome Finance

maxdp

wutus wrote: »

Hi,
Can anyone advise me on whether to pursue a claim as I originally sent a letter back in November and after they eventually replied in Jan ( saying basically I was not entitled to make a claim due to the fact that PPI was explained in writing/ contract at time I took loan out even though I didnt really understand wot it was and just went along with it, they also sent a leaflet from ombudsmun , adding if I were to make a claim they would obv say I knew what I was taking. now after much diliberation ( dont know if spelt it right ) want to try again, should I ?? it would amount to at least £3000 and its with Welcome Finance

Hi There that is a standard reply I would go for it but make sure you do it soon because you have to respond within 6 months of their reply to you otherwise it will be too late.

wutus

Hi there,
thanks for that, will pursue asap however it is just after 6 months so not sure if they would allow me to do so or whether to start again ??

di3004

wutus wrote: »

Hi there,
thanks for that, will pursue asap however it is just after 6 months so not sure if they would allow me to do so or whether to start again ??

Hi there

Do you mean to take to the Financial ombudsman service (FOS)? or to write another letter to the finance company?

If its 6 months with the finance company, you may need to write back and tell them why you have not got back sooner for them to reconsider, "maybe you had personal reasons".

Again if the 6 months have passed to go to the FOS, if there was a personal reason why you did not do this in that timescale let them know and ask them to consider investigating your complaint.;)



Good luck and post up for help.