Newbie queries

Tillypop

Hello I hope someone may be able to help me with my ppi query. Firstly I have been reading this site for some weeks and very impressed with community support. I have several ppi claims some of which I approached a cm company to assist as my old loans and cc are more than 12yrs and under debt management. I found a few more and decided to do them myself after reading all the info on this site.
I phoned Ge money about two which had ppi. Ge money confirmed I had ppi on both accounts and started my complaint.
I got a letter from them yesterday saying my ppi policy is time barred under the limitations act 1980. Also noted that Ge money home lending companies were not at any time members of GISC which at the time administered a voluntary code only applicable to GISC members. They said it was the final response however informed I could contact FLA about my complaint. I don't understand any of this help please.

[Deleted User]

Tillypop wrote: »

I have several ppi claims some of which I approached a cm company to assist as my old loans and cc are more than 12yrs and under debt management.

You do realise you could end up owing the Claims Company and receiving no redress if your debts have defaulted? :eek:

Tillypop wrote: »

They said it was the final response however informed I could contact FLA about my complaint. I don't understand any of this help please.

It just means you could forward your complaint to the FSA .

Tillypop

Hi. Thanks for your reply. The claims company dealing with my claims are through my DMC pay plan, they charge 10 per cent so if I for eg, I owe 200 to loan and ppi was 200 then I will have to pay 20 to claims company?

[Deleted User]

Tillypop wrote: »

Hi. Thanks for your reply. The claims company dealing with my claims are through my DMC pay plan, they charge 10 per cent so if I for eg, I owe 200 to loan and ppi was 200 then I will have to pay 20 to claims company?

Yes, but I hope you are complaining about an amount which is enough to cover the money still owed on the loan AND this 10% fee?
Remember, if money is still outstanding then any redress will go towards the debt and not you. If there is any extra left over then it goes to pay the 10% fee. If there isn't enough to pay the 10% fee, you'll still have to pay it yourself!

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#tool_outer_header

If your complaint is likely to leave you in debt to this Claims Management Company, I'd just instruct it to accept the Bank's rejection and not take it any further.

What amounts are we talking about here; if I may be so bold?

amersall

I approached a cm company to assist as my old loans and cc are more than 12yrs and under debt management

Even if this is with the company that you have the plan with, they cannot claim for you as moneineptitude pointed out, they will take any redress off the amounts you owe on the debt and you could end up with another debt to the claims co, and 10% or not, I would not pay 10% to anybody to do what I could do myself for free.
Contact this company and tell them they cannot do this as you have arrears and are on a plan, tell them you will be contacting the MOJ, tell the company you have the plan with the same, they should not be doing this, put money on it that the claims co are something to do with the company you are paying the plan too.

http://www.justice.gov.uk/contacts/cmr

Tillypop

Thank you for your help with this. I have today contacted the claim handlers and told them I'm not happy they was not upfront with me and did not tell me I would end up with another debt, they said no win no fee so I told them they are bad advising me, if any ppi payout would pay off any outstanding debt plus I end up owing them 10 per cent. Luckily for me i was informed they will have to send the forms out again because they had wrong spelling on my surname so happy days I won't be returning the signed documents but will do this myself. Thanks so much for all the help and advice.

amersall

Well done, good luck, if you need any help then just ask.