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chopper78

Hi,

Back in January 2000, when I was young and naive, I took out a HP agreement on a car. As part of that agreement there was a PPI policy which they made me take out "Oh, if you want the car, you have to take this insurance out". On a £7619 car, the PPI was £1438.42, plus £378.38 interest, which added £30.28 to the monthly payments on the car.

The finance company was On:Line Finance who are now owned by GMAC Holdings UK Limited.

I haven't looked to reclaim my PPI from them as I couldn't find the paperwork but I have today found the paperwork including the insurance policy.

So who do I write to to reclaim my PPI and what are my chances on such an old agreement (which I have all of)?

di3004

chopper78 wrote: »

Hi,

Back in January 2000, when I was young and naive, I took out a HP agreement on a car. As part of that agreement there was a PPI policy which they made me take out "Oh, if you want the car, you have to take this insurance out". On a £7619 car, the PPI was £1438.42, plus £378.38 interest, which added £30.28 to the monthly payments on the car.

The finance company was On:Line Finance who are now owned by GMAC Holdings UK Limited.

I haven't looked to reclaim my PPI from them as I couldn't find the paperwork but I have today found the paperwork including the insurance policy.

So who do I write to to reclaim my PPI and what are my chances on such an old agreement (which I have all of)?

Hi there

Whoever sold and set up the account from the start is the ones you pursue. So if it was the dealer of the car business its them you complaint to, and you can do this by completing the complaint/reclaim questionnaire as below step 3.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step3

Good luck, keep a copy for yourself as well.

chopper78

di3004 wrote: »

Whoever sold and set up the account from the start is the ones you pursue. So if it was the dealer of the car business its them you complaint to

And if the dealership no longer exists and hasn't done for years?

magpiecottage

chopper78 wrote: »

And if the dealership no longer exists and hasn't done for years?

Assuming it was a limited company and has been dissolved, there is nobody to pursue.

The lender has no liability nor does the insurer. The Financial Ombudsman Service has no jurisdiction and the Financial Services Compensation Scheme does not cover insurance advice before 2005.