Rejection from GE Money - they've passed on claim

WinnieW

Hi All,
Inspired by some of the success stories on here i felt it was time I checked back through previous loans etc to see if we'd been missold any PPI. Whenever it was offered to us we always turned it down because my OH has life and critical illness cover which protects us.
I discovered PPI had been added to 3 loans we took out when financing our Holiday Ownership product with Club la Costa. The loans were taken in 2003/04 and were set up with First National which became GE Money.
At the point of sale I do not recall any mention of PPI. As I've already said we normally turned it down anyway so I'm certain it was never explained to us, just added to the agreement without our knowledge. I filled in the templates provided here (many thanks!) and sent them off.
I heard back from GE Money pretty quickly rejecting our claim as they say they did not sell us the PPI as they were not present at the point of sale. They go on to say that they have forwarded our claim to Club la Costa as the PPI was sold to us by their sale reps.
Is this correct procedure? Do I just wait to hear from CLC or should I complete the forms again and send them off myself?

Thanks in anticipation of your sensible advice

di3004

Hi there

Yes whoever set up and sold the finance are the ones responsible.
Good luck and hope you hear something soon.

roonaldo

WinnieW wrote: »

At the point of sale I do not recall any mention of PPI.

This is key. GE were not there at point of sale. Club Costa were.

It doesnt matter who the lender is, they are funding your finance and not selling you anything.

dunstonh

The PPI issue is not about the product but how it was sold to you. Any complaint is about the sales process. Therefore the seller is responsible.

[Deleted User]

WinnieW wrote: »

They go on to say that they have forwarded our claim to Club la Costa as the PPI was sold to us by their sale reps.
Do I just wait to hear from CLC or should I complete the forms again and send them off myself?

"Forwarded" complaints seem to have a habit of getting lost in the post....

mikeykw

Hi

I have just contacted Santander and unlike the experience of Gusdkeep they have told me to go to CLC as they sold the PPI. My loans were taken out with First National Bank that became GE and now I understand Santander.

I thought that Loans regulated by the Consumer Credit Act 1974 and under section 56 of the act, state..
"...makes the credit card company or the finance company liable for any representations made during negotiations between you and the supplier, that took place prior to the contract being made, which later turn out to be untrue."

is this not the case that the lender is liaible? are CLC really liaible?. If thats the case has anyone had any luck with claiming back from CLC

Thanks

roonaldo

There is a bit of confusion here. First National Bank are now GE Money Home Lending. First National Tricity Finance are now Santander. So in this case its nothing to do with Santander.

.makes the credit card company or the finance company liable for any representations made during negotiations between you and the supplier, that took place prior to the contract being made, which later turn out to be untrue

Yes, but in this case there was a broker involved, so negotiations are by Club Costa. Also the allegations you make are against broker not lender.

WinnieW

So? I need to fill in another batch of paperwork and this time send it to Club la Costa?
Someone elsewhere suggested that any claim would be against GE as the provider of the loan. CLC were just acting as a broker (called an 'intermediary' on the contract). The contract was between ourselves and GE Money, and if PPI was involved, it would be up to GE Money to make sure that it was correctly sold.
Any thoughts? I'm very keen to claim this money back, especially with Christmas bills around the corner :santa2:

-taff

WinnieW wrote: »

So? I need to fill in another batch of paperwork and this time send it to Club la Costa?

Yes

WinnieW wrote: »

Someone elsewhere suggested that any claim would be against GE as the provider of the loan.

Whoever sold you the policy is the person you complain to, GE Money didn't sell it to you, Club whoever did.

WinnieW wrote: »

I'm very keen to claim this money back, especially with Christmas bills around the corner

You aren't claiming, you're complaining. There is a difference. You won't automatically get the money back, there has to be evidence of misselling.

It's also possible that they weren't regulated at the time of the sale, so tey could refuse you straightaway anyway.
Just found this, have a read.
https://forums.moneysavingexpert.com/discussion/3991689

WinnieW

Thanks taff - sounds like this one is dead in the water The PPI was missold because it was added without our knowledge or consent - but there's only our word against the sales people for that and they won't admit it and even if they do there's this point about them not being regulated...
Typical of CLC actually