iGroup/GE Money

skippy64

Hi, just about to start this process & I'm struggling to find any success stories that anyone has with iGroup/GE Money. I have all the paperwork for a loan we took out in August 2001 which is all paid up now so to be honest after reading some of the posts I'm getting confused over if this would have any chance of success. Any pointers would be appreciated.
I also have had loans in the past with RBS & Lloyds TSB which I need to dig out the paperwork to check if there was any ppi with the loan (business loans to sole trader/partnership account, not a Ltd company), does anyone know if there are any threads relevant to small business claiming back ppi ?
Thanks

di3004

skippy64 wrote: »

Hi, just about to start this process & I'm struggling to find any success stories that anyone has with iGroup/GE Money. I have all the paperwork for a loan we took out in August 2001 which is all paid up now so to be honest after reading some of the posts I'm getting confused over if this would have any chance of success. Any pointers would be appreciated.
I also have had loans in the past with RBS & Lloyds TSB which I need to dig out the paperwork to check if there was any ppi with the loan (business loans to sole trader/partnership account, not a Ltd company), does anyone know if there are any threads relevant to small business claiming back ppi ?
Thanks

Hi there.;)

Have you checked on the above success thread to check for success on these, I think there have been but its a huge thread to go through lol.:D

I would give it a go with the reasons you have for being mis sold.
And even if the loan is settled you can still reclaim.
They have 8 weeks in full to respond and post by recorded delivery.
Below is the link to the guidelines of reclaiming:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
Check this out, there are also templates to help you through this as well, you can use them if you want to or as a guide with the reasons you have.
Keep at them is best, if they don't resolve in your favour by the final decision then hopefully you can take them to the Financial ombudsman service (FOS).

In regards of paperwork if you don't have any or much and require these to help you with your reclaims, you could request a Subject Access Request (SAR), they have 40 days to comply with this.
However just as long as you have the account number you can still continue to make a reclaim.
SAR Template letter and details here:
http://forums.moneysavingexpert.com/showthread.html?t=1475553

I would post all letters by recorded delivery as well for your proof of posting.
Good luck, please keep us posted and ask for help anytime.;)

Di

skippy64

Thank you for your speedy reply Yes the discussion threads do look a bit daunting, I've been trying to go through them & doing searches also on here, just gleaming little bits of info that had been helpful & also some that were confusing !! I think my main 'brick wall' that I have to get my head round is this 2005 date (?) that when the FOS powers kick in so that prior to that date seems to be the main point of defense/stalling tactic used by the loan companies when you are dealing with them from what I have read so far. Sorry for waffling on, just at the start of this challenge !!

di3004

skippy64 wrote: »

Thank you for your speedy reply Yes the discussion threads do look a bit daunting, I've been trying to go through them & doing searches also on here, just gleaming little bits of info that had been helpful & also some that were confusing !! I think my main 'brick wall' that I have to get my head round is this 2005 date (?) that when the FOS powers kick in so that prior to that date seems to be the main point of defense/stalling tactic used by the loan companies when you are dealing with them from what I have read so far. Sorry for waffling on, just at the start of this challenge !!

With pleasure.;)

I would also check if they were regulated by GISC, (The General Insurance Standards Council) prior to the FSA when they taken over 14 Jan 2005.

There are ways around this.:beer:

skippy64

Just a quick question, our policy was a joint policy, do we do a joint correspondence letter and adapting the template letter from the 'singular' to the 'plural', i.e. changing 'I' to 'We' ?
Any suggestions are appreciated

marshallka

skippy64 wrote: »

Just a quick question, our policy was a joint policy, do we do a joint correspondence letter and adapting the template letter from the 'singular' to the 'plural', i.e. changing 'I' to 'We' ?
Any suggestions are appreciated

If it were a joint policy then I would use "we, us". In fact i would also try to do your very own letter from the template so it looks like you have actually gone into it yourself and not just seen an idea on the website. Good luck.;)

skippy64

Just had a an unhelpful reply from GE Money basically trying to fob us off with our complaint so would appreciate some help with a response please.

The jist of their letter says

" To investigate your complaint fully and fairly now, I feel, be extremely diificult due to the length of time that has elapsed and the inaccessibilty of certain records and documents we would require to validate all the facts.
For these reasons I have decided I am unable to deal with your complaint. "

The time line of the loan was from August 2001 to around March time 2006 when we paid it off a few months early so I would have thought that records should still be available. I've had a look at the next stage template letter but it doesn't seem to fit the response I need to send back telling them I don't accept their refusal to deal with the complaint so any pointers/suggestions to a more suitable reply would be appreciated.
We still have the original loan documents but not the PPI terms & conditions so should I send them back a copy of the original loan paperwork to help them with their search ?

di3004

skippy64 wrote: »

Just had a an unhelpful reply from GE Money basically trying to fob us off with our complaint so would appreciate some help with a response please.

The jist of their letter says

" To investigate your complaint fully and fairly now, I feel, be extremely diificult due to the length of time that has elapsed and the inaccessibilty of certain records and documents we would require to validate all the facts.
For these reasons I have decided I am unable to deal with your complaint. "

The time line of the loan was from August 2001 to around March time 2006 when we paid it off a few months early so I would have thought that records should still be available. I've had a look at the next stage template letter but it doesn't seem to fit the response I need to send back telling them I don't accept their refusal to deal with the complaint so any pointers/suggestions to a more suitable reply would be appreciated.
We still have the original loan documents but not the PPI terms & conditions so should I send them back a copy of the original loan paperwork to help them with their search ?

Hi there

Its good you have your original loan documents, its something they may not have, or they may not have everything, mainly they do keep info for up to 6 years, so they still should have details of when you settled this in 2006.

I would personally write back in your own words, and tell them you do not accept their decision, and request they take another look with the copies of paperwork supplied to help them decide on the decision.

Tell them, in regards of their reason (lack of information - you have the information in copies in which you believe would be of some help), give them about 14 days if you want to, then if they do still not uphold in your favour, it maybe worth contacting the FOS to ask if they are able to investigate.

The FOS should tell you one way or another or the best direction to take on this otherwise.

Good luck and please keep us posted.;)

markdsmith_2

I too have exactly the same reply. I appealed against this and have had another reply stating:

Having looked at your case, I can see that we've sent you our final response on the 3rd December 2009. Our letter explained that because you are complaining about the sale of your policy, which occurred seven years ago, we can't investigate your concerns.

You'll need to refer your complaint to the Finance nad Leasing Association if you remain unhappy with our decision. As you know from our previous letter, the Financial Ombudsman Service will not be able to review your case because this falls outside of their jurisdiction.

Has anybody managed to get GE to pay back a loan taken out prior to 2003. My loan was taken out in July 2002 and had a PPI of £1,235.

skippy64

Thanks for that info Mark, its fair to say they have their 'standard responses' down to a fine art !!
Does anyone know what the success rate is like with the Finance & Leasing Association is like? Also is it still best to go the FOS at the same time to see if they can still do anything, has anyone tried that ?
Thanks, Skippy

skippy64

Just remembered that the loan was arranged via Norton Finance, do I have to contact/involve them for anything at this point ?