PPI Reclaiming Discussion part 4

marshallka

markdsmith wrote: »

I have now written 2 letters to GE Money requesting copies of my Loan documents. The second letter written on 25th January was giving them a further 14 days (up to Monday 8th Feb). This was for a loan taken out in August 2007 via Cavendish Finance. Cavendish went into liquidation not long after I took my loan out so I can't get anything from them.

I have my end of year statements and the first one states that on the loan of £25,500 the opening balance was £27,086.99. I called GE to query this to ask if there was PPI on it, but they said there wasn't but would look into the situation. I never heard anything so I sent the letter requesting the loan documents.

It now appears that apparently Cavendish broke several rules on arranging loans such as not sending out the 8 day "coling off" letter when the loan was arranged (never got one of these, should I have?).

I'm wondering what happens next if GE don't supply the relevant documents by Monday? Is my next route to the FOS?

Hi, if they do not send the loan documents out in time then you have the option of complaining to the ICO (who i think are a waste of time), but not FOS at this time as FOS would be the ones to go to after complaining about the PPI being missold and looks like as yet you have not had the opportunity of doing this. I don't think FOS look into complaints about not receiving documents on time TBH BUT I bet they could write to the firm for you if you explain you are getting nowhere.

lucieloo

marshallka wrote: »

Hi, I had the same happen to me with FP and really cannot remember using a broker and even complained to FOS and the FSA about it but no-one could do anything. If Firstplus "say" you did, then FOS listen to them:mad:. I would also definately say as regards your second loan that you went through FP direct. Very annoying but you have to prove it and even then no-one listens.

hi marshallka thanks for reply. did you win in the end?

markdsmith_2

marshallka wrote: »

Hi, if they do not send the loan documents out in time then you have the option of complaining to the ICO (who i think are a waste of time), but not FOS at this time as FOS would be the ones to go to after complaining about the PPI being missold and looks like as yet you have not had the opportunity of doing this. I don't think FOS look into complaints about not receiving documents on time TBH BUT I bet they could write to the firm for you if you explain you are getting nowhere.

Sorry to be ignorant, but who are the ICO?

maxdp

Information Commissioners Office
http://www.ico.gov.uk/

lucieloo

markdsmith wrote: »

Sorry to be ignorant, but who are the ICO?

i think its information commisioner officer

sharon666

markdsmith wrote: »

I have now written 2 letters to GE Money requesting copies of my Loan documents. The second letter written on 25th January was giving them a further 14 days (up to Monday 8th Feb). This was for a loan taken out in August 2007 via Cavendish Finance. Cavendish went into liquidation not long after I took my loan out so I can't get anything from them.

I have my end of year statements and the first one states that on the loan of £25,500 the opening balance was £27,086.99. I called GE to query this to ask if there was PPI on it, but they said there wasn't but would look into the situation. I never heard anything so I sent the letter requesting the loan documents.

It now appears that apparently Cavendish broke several rules on arranging loans such as not sending out the 8 day "coling off" letter when the loan was arranged (never got one of these, should I have?).

I'm wondering what happens next if GE don't supply the relevant documents by Monday? Is my next route to the FOS?please can you tell me more about this 8 days cooling off letter? sharon666

tiggrae

sharon666 wrote: »

markdsmith wrote: »

I have now written 2 letters to GE Money requesting copies of my Loan documents. The second letter written on 25th January was giving them a further 14 days (up to Monday 8th Feb). This was for a loan taken out in August 2007 via Cavendish Finance. Cavendish went into liquidation not long after I took my loan out so I can't get anything from them.

I have my end of year statements and the first one states that on the loan of £25,500 the opening balance was £27,086.99. I called GE to query this to ask if there was PPI on it, but they said there wasn't but would look into the situation. I never heard anything so I sent the letter requesting the loan documents.

It now appears that apparently Cavendish broke several rules on arranging loans such as not sending out the 8 day "coling off" letter when the loan was arranged (never got one of these, should I have?).

I'm wondering what happens next if GE don't supply the relevant documents by Monday? Is my next route to the FOS?please can you tell me more about this 8 days cooling off letter? sharon666

It's actually a 30 day cooling off period and that should have been on the agreement - do you recall receiving a copy of the agreement?

As for the £27086.99 - could the extra £2k be interest? Seems low though!

if Cavendish are in receivership, as the loan was taken out after 2005, if they have added on PPI you need to take your complaint to the Financial Services Compensation Scheme

di3004

twinkledust wrote: »

Hope all goes well and you hear in a couple of weeks x

Thank you hunni X;)

markdsmith_2

tiggrae wrote: »

sharon666 wrote: »

It's actually a 30 day cooling off period and that should have been on the agreement - do you recall receiving a copy of the agreement?

As for the £27086.99 - could the extra £2k be interest? Seems low though!

if Cavendish are in receivership, as the loan was taken out after 2005, if they have added on PPI you need to take your complaint to the Financial Services Compensation Scheme

The statement is set as thus:
Amount of Credit £25,500
Date of first transaction on the account 20 aug 07
Duration of the agreement 120 months
opening balance on 30 aug 07 £27086.99

Interest rate applied to the account 9.8%
Interest is charged daily

So 10 days interest equates to £1,586.99??

Also, I noticed on the statement that a couple of DD failed and they added £20 each time to my loan, which means I'm paying interest on the "fines"!!! Is this right?

Also, definately didn't receive cooling off agreement.

tiggrae

markdsmith wrote: »

tiggrae wrote: »

The statement is set as thus:
Amount of Credit £25,500
Date of first transaction on the account 20 aug 07
Duration of the agreement 120 months
opening balance on 30 aug 07 £27086.99

Interest rate applied to the account 9.8%
Interest is charged daily

So 10 days interest equates to £1,586.99??

Also, I noticed on the statement that a couple of DD failed and they added £20 each time to my loan, which means I'm paying interest on the "fines"!!! Is this right?

Also, definately didn't receive cooling off agreement.

it isn't a cooling off agreement - it's actually written into the loan agreement which you should have received - that £1.5k is odd as you sait for 10 days interest but for ppi it's low - how much are you paying a month total?