First National / GE Money

Timetostandup

Any one had success if you took a loan out with First National, who then was bought by GE Money.

I wrote to GE Money, who after the 8 weeks said basically sod off its was done by First National.

so moved it to FOS.. who then said cant claim but maybe if we can find out the actuall insurer we can claim against them.

Found my original documents, and it was Cardiff Pinnacle, who again after 8 weeks said its nothing to do with them.

Back to FOS, who beginning of April said they have an update by May 31st... Not heard nothing yet.

This whole process was started back in September !!!

KIMY

I too have a claim against Cardiff Pinnacle as my loan was with First National/GE Money, mine has been with FOS for a year. I spoke to a adjuicator yesterday and she informed me that the FOS are currently in talks with Cardiff Pinnacle as they want them to take liability for Miss selling of there PPI policies and apparently they are not budging. She explained that the FOS feel strongly about this and if no agreement, this could go to court but if this is the case it could take up to 5 years.
As discussed with FOS the Insurance underwriters should have a duty of care to the customers to ensure they are sold the correct policy and given correct information. Keep you updated

magpiecottage

Insurers do have a duty of care to ensure the literature they issue is clear, fair and not misleading.

However, they are not responsible for making sure a product sold by an independent intermediary is suitable for the policyholder.

If that is the point Pinnacle is making, it seems reasonable.

However, there is an issue if it is not possible to take a complaint to FOS because the intermediary did not subscribe to the General Insurance Standards Council's code of practice but the insurer did. This is because the code stipulated that insurers who subscribed to it should only accept business from intermediaries who also subscribed to it.

If Pinnacle subscribed and GE didn't then you have a complaint.

There is, though, a legal principle which limits liability to reasonably foreseeable consequences of somebody's actions. Pinnacle might argue that GE, as an authorised lender/intermediary, with a consumer credit licence appeared to be fit and proper to introduce the business and it could not have reasonably foreseen that its policies were being missold.

I can therefore understand why Pinnacle might wish to defend its position on those grounds.

Timetostandup

Received a letter today from fos saying they are talking to Pinnacle and will update me by 31st Aug...

marshallka

Don't know if this confirms that Pinnacle did subscribe in 2000.

http://www.cardifpinnacle.com/content/press-release.php?release=pinnacle&id=23

Extra good luck if they did and GE did not.

I would say that Pinnacle should take responsibility of this sale. If the GISC say their subscribers should only allow other members of GISC to sell their products then they have broken the rules and should be held accountable.

KIMY

I too received the same letter on Saturday from the FOS but as previously stated the judicator explained this could go on for months.
Fingers crossed for everyone awaiting the descision with regards Pinnacle.

Bob_II

I too have a claim against Pinnacle. I found it quite confusing but GE Money were extremely helpful and were able to send me copies of my original documents. They were the lender but had nothing to do with the PPI insurance miss-sale. The loan was taken out in 2002 through a broker (1 Click Finance). The broker dissolved in 2006 but the underwriter was Pinnacle.

The FOS wrote to me last week saying the case had started against Pinnacle, and Pinnacle wrote to me to say they were looking in to my complaint. For the sake of some time and a couple of stamps I'm not going to let this go without a fight. I'm still in debt to this day and firmly believe that this PPI scam was a major contributor to years of struggling with debt. I'm pretty bitter about the whole thing now, so I say, best of luck to all of you and I'll keep you posted on how I get on.

KIMY

I have not had a update only advised should hear again by end of August, l did however speak to the adjuicator a few weeks ago who said this would be a long drawn out process as they where trying to along with mine and several other complaints as may be a test case aginst getting the insurance companies to accept liability. Cardiff Pinnacle have not bothered to corresspond with me for over a year.

Bob_II

I know this is an old post but these claims take a long time so I was just wondering if anyone (particularly if KIMY) had been successful yet in their FOS case against Cardiff Pinnacle?

You can probably tell from this question that I have not yet heard anything. I did get a couple of letters from the FOS though, saying they're very busy and will write to me again in 3 months!

KIMY

I have received a letter today from Cardiff Pinnacle Liaison Office asking me to sign paperwork so they may address my concerns regarding the sale properley of the policy.
My complaint has been with FOS for nearly 2 years and this is only first time since my original correspondence that Cardiff Pinnacle have corresponded.
Can l see any light at end of tunnel or do you think they are just responding to procedure as they have heard from FOS.
Any help would be appreciated

Bob_II

Seems to me that FOS have simply just started to look at your case and Cardiff Pinnacle have responded by either, verifying your complaint, checking your ID, stalling, or a mixture of all three. Still, seems like a step in the right direction to me. Just be sure to forward any correspondence to FOS, or call them to see if that's even necessary. Sounds positive though. Some news is good news I guess. Thanks for keeping us posted, I'll be sure to do the same. I'm still waiting, obviously!