Are G E Money and First National the same company?

BBTHREE

Hi All

I started posting another thread about this but thought I had no paperwork available to quote proper facts and figures, but DH has found some of it which was stored safely so here goes :-

Took out a secured loan for 15K on 18/08/03. It also had on it 1816.18 for payment protection insurance so total borrowing was £16816.18.

I have a copy of this agreement (not the original) We werent aware that we had signed for PPI, and were literally told "just sign here" by the sales advisor in our home and so we did, and didnt and question it. Stupid I know.

We requested the secured loan through Purple loans, who told us it was done through G E Money, but the secured loan agreement shows First National Bank at the top.

In 2007 we wanted to clear this account so asked for a written settlement fee and got sent 2. One for the loan and One for the PPI. I paid these but made it clear in writing we were not aware we had a PPI, we had not requested it and we did had not need it.

I complained in writing and on 17/04/07 G E Money wrote " We would take this opportunity to point out that details of the terms and conditions of the loan are clearly stated on the credit agreement. As we are not present when our suppliers representatives are discussing the loans we do rely upon our customers reading and understanding the terms and conditions of the agreement. There is in fact a customer declaration in the body of the credit agreement confirming to us that you have read the terms and conditions and then by signing the credit agreement you have become bound by these terms and conditions. Please note you signed the credit agreement opting to take out the protected payments plan and therefore we paid for the policy in full and makes up part of the opening balance on your account. Your rebate is calculated in accordance with Pinnacle Insurance Plc and reflects the current insurance market"

I accepted this £300 rebate, but only as a partical payment not as a final payment and didnt feel I could take G E Money on.

On 6/07/07 after I had written directly to Cardiff Pinnacle they responded "I am sorry to hear of your disapointment with the manner in which your policy was sold to you. Whilst Cardiff Pinnacle does underwrite your cover we do not engage in it's sale. Under the current regulatory regime any individual or organisation that sells an insurance product is directly answerable for allegations of mis-sale"

I have been never satisified and feel that G E Money got away with ripping us off Based on the above, does any one if I submit a complaint to G E Money, First National, or Pinnacle Insurance, or are the all one and the same?

Sorry if this is wordy (also sorry if this duplicates stuff in my other post - I have much more info now)

paintpotter

I have a loan with GE money, but on my credit file it says First National Bank. My letters when I receive them are all from GE money.. I suspect they are the same company.

BBTHREE wrote: »

Hi All

I started posting another thread about this but thought I had no paperwork available to quote proper facts and figures, but DH has found some of it which was stored safely so here goes :-

Took out a secured loan for 15K on 18/08/03. It also had on it 1816.18 for payment protection insurance so total borrowing was £16816.18.

I have a copy of this agreement (not the original) We werent aware that we had signed for PPI, and were literally told "just sign here" by the sales advisor in our home and so we did, and didnt and question it. Stupid I know.

We requested the secured loan through Purple loans, who told us it was done through G E Money, but the secured loan agreement shows First National Bank at the top.

In 2007 we wanted to clear this account so asked for a written settlement fee and got sent 2. One for the loan and One for the PPI. I paid these but made it clear in writing we were not aware we had a PPI, we had not requested it and we did had not need it.

I complained in writing and on 17/04/07 G E Money wrote " We would take this opportunity to point out that details of the terms and conditions of the loan are clearly stated on the credit agreement. As we are not present when our suppliers representatives are discussing the loans we do rely upon our customers reading and understanding the terms and conditions of the agreement. There is in fact a customer declaration in the body of the credit agreement confirming to us that you have read the terms and conditions and then by signing the credit agreement you have become bound by these terms and conditions. Please note you signed the credit agreement opting to take out the protected payments plan and therefore we paid for the policy in full and makes up part of the opening balance on your account. Your rebate is calculated in accordance with Pinnacle Insurance Plc and reflects the current insurance market"

I accepted this £300 rebate, but only as a partical payment not as a final payment and didnt feel I could take G E Money on.

On 6/07/07 after I had written directly to Cardiff Pinnacle they responded "I am sorry to hear of your disapointment with the manner in which your policy was sold to you. Whilst Cardiff Pinnacle does underwrite your cover we do not engage in it's sale. Under the current regulatory regime any individual or organisation that sells an insurance product is directly answerable for allegations of mis-sale"

I have been never satisified and feel that G E Money got away with ripping us off Based on the above, does any one if I submit a complaint to G E Money, First National, or Pinnacle Insurance, or are the all one and the same?

Sorry if this is wordy (also sorry if this duplicates stuff in my other post - I have much more info now)