PPI Reclaiming Discussion part 4

di3004

This here is copied and pasted from Martin's front page, thought I would also post here if it helps, while your on this thread, about what companies have been fined so far....................
Or for more info, refer back to Martins page link here:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance


Many major providers, including Alliance & Leicester, Egg and Capital One have been fined for “not treating customers fairly”, and more are expected soon. If yours has, it’s very likely you’ve a case.
Does this apply to you? Expand the full list of [URL="javascript:showDiv4()"]Fined providers[/URL].



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The regulator, the FSA, has said it wants to see better practice and has fined several companies for failing to treat their customers fairly. More fines, which could be for up to £1 million, are expected.

Who’s been fined so far?

• Egg: Fined £721,000 in Dec 2008 for serious failings in its credit card PPI sales by telephone between Jan 05 and Dec 07. Egg has said it will be writing to customers, asking them to call a dedicated number if they are concerned they were missold PPI, and will compensate where appropriate. More Info: Egg.
• Alliance and Leicester (A&L): Fined £7 million, the highest fine to date by far, in Oct 2008 for serious failings in its PPI telephone sales between Jan 05 and Dec 07. A&L has said it will be writing to all the customers concerned. More Info: Alliance and Leicester.
• 5 motor retailers: GK Group Limited, George White Motors Limited, Ringways Garages (Leeds) Limited, Ringways Garages (Doncaster) Limited and Park’s of Hamilton (Holdings) Limited were fined a total of more than £175,000 in Aug 2008 for exposing a total of 2,175 customers to the risk of being sold unsuitable PPI policies. More Info: Motor retailers.
• Liverpool Victoria: Fined £840,000 in July 2008 for serious failings in the sale of single premium PPI on telephone loans sold betweeen 14 January 2005 and 8 August 2007. It has also agreed to compensate customers if their policy is not appropriate and to refund interest automatically. More Info: Liverpool Victoria.
• Land of Leather Ltd: Fined £210,000 in May 2008 for allowing its sales force to sell PPI, between May 2006 and Feb 2007, without effective monitoring or training. More Info: Land of Leather.
• HFC Bank, also trading as "Household Bank" and "Beneficial Finance": Fined £1,085,000 in January 2008 for putting customers at an unacceptable risk of being sold PPI when it was not suitable for them. Failings took place in branches between Jan 2005 and May 2007. More Info: HFC Bank
• Capital One: Fined £175,000 in February 2007 for failing to ensure that 50,000 customers buying credit cards and loans between January 2005 and April 2006 received important information about the policy. More info: Capital One
• GE Capital Bank Ltd: (supplies cards for Asda, Comet, Debenhams and Topshop among others): Fined £610,000 in January 2007 for inappropriate sales of its store cards and credit cards. More info: GE Capital Bank Ltd
• Redcats: Fined £270,000 in December 2006 for also not having adequate systems and controls in place to minimise the risk of unsuitable sales. More info: Redcats
• Regency Mortgage Corporation: Fined £56,000 in December 2006 for not collecting sufficient information during a PPI sale to ensure its recommendations met customers' demands and needs. More info: Regency Mortgage Corporation
• Loans.co.uk: Fined £455,000 in October 2006 for not having appropriate systems and controls to minimise the risk of unsuitable sales. More info: Loans.co.uk

Are you a customer of one of these firms?

If you’re a customer of one of these companies it may have already been in touch with you, but if it hasn’t you should definitely send a reclaim letter asking for justification that your policy was sold with your best interests in mind.

Other companies are likely to be fined too

The FSA is likely to announce further fines, this is important as it hugely strengthens your reclaim, so ensure you get the free weekly email to keep updated on this.
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funkyc27

gumbi wrote: »

I know that there are a few regulars to this forum who have more than a passing interest in Picture Finacial and the FSCS.

I've been fortunate to have found an excellent contact at the FSCS that has been giving me regular updates as to the status of the case so I thought it only fair to share that information with those that need it most!

Latest update is that there hasn't been any real progress over the last few weeks however his email does clear the mists of procedure that until this point have proved impenetrable:

"At present we are currently waiting on guidance from our Legal Department regarding claims against Picture Financial Services Plc.

Primarily, this is to ensure that the eligibility criteria used to assess Payment Protection Insurance (PPI) claims is consistent for each claimant.


Although I am unable to give an exact timescale for these guidelines to be finalised, please be assured that we are trying to resolve this issue as soon as possible.


Once the guidelines have been agreed, we will then be in a position to determine whether we have received at least one eligible claim against the firm.

Hopefully this won't be too much longer."

It looks as if the finish line may be in sight for those of us that have been part of the Picture Finanace Marathon......Stay strong for the home stretch!

Thanks so much for this update- i am in the process of claiming my PPI from Picture but as you know its with the FSCS hope it all ends soon!!

Beatlefan

di3004 wrote: »

This here is copied and pasted from Martin's front page, thought I would also post here if it helps, while your on this thread, about what companies have been fined so far....................
Or for more info, refer back to Martins page link here:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance


Many major providers, including Alliance & Leicester, Egg and Capital One have been fined for “not treating customers fairly”, and more are expected soon. If yours has, it’s very likely you’ve a case.
Does this apply to you? Expand the full list of Fined providers.



Close the list

The regulator, the FSA, has said it wants to see better practice and has fined several companies for failing to treat their customers fairly. More fines, which could be for up to £1 million, are expected.

Who’s been fined so far?

• GE Capital Bank Ltd: (supplies cards for Asda, Comet, Debenhams and Topshop among others): Fined £610,000 in January 2007 for inappropriate sales of its store cards and credit cards. More info: GE Capital Bank Ltd

Are you a customer of one of these firms?

If you’re a customer of one of these companies it may have already been in touch with you, but if it hasn’t you should definitely send a reclaim letter asking for justification that your policy was sold with your best interests in mind.

Other companies are likely to be fined too

The FSA is likely to announce further fines, this is important as it hugely strengthens your reclaim, so ensure you get the free weekly email to keep updated on this.
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Thanks for posting this Di. Very helfpul as always. :A

Just a thought re GE Money, though. I thought, from reading other posts, that they weren't regulated by the FSA? Can you use this fine as a reson for a mis-claim against them then?

I settled an account (not a store card) with GE Money about 3 years or so ago. The finance was originally taken out with First National, but I don't know if that was the original name for GE Money or whether First National were taken over by GE Money?? The finance was sold by the windows company who installed some double glazing at our house.

I've sent off a letter to GE Money asking for details of the agreement within 12 days.

Thanks as always.

beaniebabe

funkyc27 wrote: »

Thanks so much for this update- i am in the process of claiming my PPI from Picture but as you know its with the FSCS hope it all ends soon!!

I am also one of the many that is waiting a response from Picture. I have e-mailed them yesterday and will let you know if they have any good news for us. Please keep me informed if anyone hears anything. Thanks.;)

di3004

Beatlefan wrote: »

Thanks for posting this Di. Very helfpul as always. :A

Just a thought re GE Money, though. I thought, from reading other posts, that they weren't regulated by the FSA? Can you use this fine as a reson for a mis-claim against them then?

I settled an account (not a store card) with GE Money about 3 years or so ago. The finance was originally taken out with First National, but I don't know if that was the original name for GE Money or whether First National were taken over by GE Money?? The finance was sold by the windows company who installed some double glazing at our house.

I've sent off a letter to GE Money asking for details of the agreement within 12 days.

Thanks as always.

Hi there

Not a problem, even though its on the front page I thought it would be useful to post this for newbies browsing through.:D;)

in regards of GE money, I know what your saying, haven't they a range of companies with different company numbers though?
Good luck with yours, I'm sure there has been just as much success with these, fingers crossed to you.;)


Will check on the FSA register search here:

FSA Firm Ref:

Firm name: GE money

Post code:

Match level: Best

Currently authorised:

Matches 1 to 10 of 10 records.

Firm namePost codePrevious/Trading As namesStatusNon-FSMA RegistrationGE Money BankGe Capital Bank, Ge Money Bank, Ge Sovac EEA AuthorisedGE Money Consumer Lending LimitedHA1 1FBFirst National Consumer Finance Limited, Ge Money Consumer Lending Limited First National, Ge Money, Ge Money, Ge Money Consumer Lending, Ge Money Home LendingAuthorisedGE Money Direct LimitedWV1 3JEGe Money Direct Limited, Midland & General Direct Limited First National, Ge Money, Ge Money Home Lending, Lgroup, Lgroup Loans, Lgroup Mortgages...Appointed RepresentativeGE Money Financial Services LimitedWD18 8YFGe Money Financial Services Limited, Ge Money Servicing Ltd, Igroup Financial Services Limited First National, Ge Money Home Lending, Gem MortgagesAppointed RepresentativeGE Money Home Finance LtdHA1 1FBFirst National Home Finance Limited, Ge Money Home Finance Ltd First National, Ge Money, Ge Money Home LendingAppointed RepresentativeGE Money Home Lending LimitedWD18 8YFGe Money Home Lending Limited First Nat Direct 2 U, First National, First National Direct 2 U, Ge Money, Ge Money Home Lending, Ge Money Lending Solutions...AuthorisedGE Money Lending Solutions LimitedWD18 8YFGe Money Lending Solutions Limited Ge Consumer Finance Home Lending, Ge Money, Ge Money Home Lending, Ge Money Lending Solutions, Ge Money Solutions, Purple Loans ...Appointed RepresentativeGE Money Mortgages LimitedWD18 8YFGe Money Mortgages Limited, Igroup Mortgages Limited First Nat Direct 2 U, First National Direct 2 U, Ge Money, Ge Money Home Lending, Ge Money Mortgages, Igroup...Appointed RepresentativeGE Money Purple Loans LtdWV1 3JEGe Money Purple Loans Ltd, Midland & General Mortgages Limited Ge Money, Ge Money Home Lending, Lgroup, Lgroup Mortgages, Midland & General Direct Limited, Purpleloans...Appointed RepresentativeGE Money Secured Loans LtdWD18 8YFGe Money Secured Loans Ltd Ge Money, Ge Money Home Lending, Ge Money Secured Loans, Igroup, Igroup Direct, Igroup Loans...Appointed Representative

Blimey, should have split this up lol, but it you go onto FSA register search and write in GE Money, you will see a more of a proper layout lol X

pinknico

Yes lets hope the FSCS put us out of our misery really soon, this has been a long wait.x

Credit-Crunched

beaniebabe wrote: »

I am also one of the many that is waiting a response from Picture. I have e-mailed them yesterday and will let you know if they have any good news for us. Please keep me informed if anyone hears anything. Thanks.;)

Whilst you are there see if you can get my redundacy pay from them! lol

gumbi

If Welcome do go under then your PPI reclaim will go to the FSCS. I would suggest you go to their website and get a claim form sent back to them as this process can take a long time...(Same thing happened with me & Picture Finance and the FSCS have had the file for over 5 months now)

The FSCS are busy dealing with all the failing banks and are very very busy so don't be surprised if this process takes up to 12 months to sort out!

Probably not what you wanted to hear I'm sorry...

pinknico

gumbi wrote: »

If Welcome do go under then your PPI reclaim will go to the FSCS. I would suggest you go to their website and get a claim form sent back to them as this process can take a long time...(Same thing happened with me & Picture Finance and the FSCS have had the file for over 5 months now)

The FSCS are busy dealing with all the failing banks and are very very busy so don't be surprised if this process takes up to 12 months to sort out!

Probably not what you wanted to hear I'm sorry...

Hello gumbi my claim has been with the FSCS since August 2008 in regards to Picture,should I be realistic and not expect any news before August 2009?
x

familyskintforlife

I have a question needing clear advice - I am severly in debt and using the consumer credit counselling service to manage my payments. All my creditors are getting smaller payments than agreed in the contract. All 4 bank loans have PPI and I beleive they were all mis-sold as I have a medical condition that was never questioned and my husband is self employed. In all cases the PPI was shown on the forms as a lump sum. Even though I have not kept to the contract can I still claim back the PPI? If so that will massively reduce the total debt outstanding.