PPI, GE Money, and how to ignore the 8 week "rule".

querty60

I sent what I thought was all necessary documentation to GE Money when making a complaint re mis selling of PPI on a personal loan. GE Money acknowledged the letter etc and told me they would complete their investigations within 8 weeks. So far so good. 2 days before the 8 weeks ran out I had a letter from GE. As the loan in question was taken out at a previous address, they needed confirmation of identity etc. Now call me naive but I would've thought that if they needed such info it would be the first thing they would ask, not wait 8 weeks?
Info immediately dispatched. Sat and waited. After a further 2 weeks I contacted GE. Then I get the proper picture. My case is closed. It was closed because of the letter written by GE for further info 2 days before the 8 weeks cut off period. "Their systems" automatically mark the account as closed. So - still being a trusting sort of person - I enquire as to when I may expect to hear further news. (Keeping my voice as pleasant as possible at all times) Ha! Response - your "case" is now sitting at the bottom of a huge pile of other cases. Will I get a new case number to help with any further queries? Response - possibly. Will I ever hear anything again - I DON'T THINK SO!. So this is how GE get through their work load - do nothing, wait 8 weeks, case over. Result.

dunstonh

Now call me naive but I would've thought that if they needed such info it would be the first thing they would ask, not wait 8 weeks?

Given the backlog of complaints, that is probably the first time it was looked at.

Info immediately dispatched. Sat and waited. After a further 2 weeks I contacted GE. Then I get the proper picture. My case is closed. It was closed because of the letter written by GE for further info 2 days before the 8 weeks cut off period. "Their systems" automatically mark the account as closed.

If that is the case, it is actually a breach of the FCA guidelines and a reason for another complaint.

After 8 weeks, you have the right to refer your case to the FOS, where you join another long queue. Or you can wait until you have the outcome from GE.

HAL_9000_2

dunstonh wrote: »

After 8 weeks, you have the right to refer your case to the FOS, where you join another long queue. Or you can wait until you have the outcome from GE.

In my case the FOS took 2 years and 2 weeks to uphold a decsion in my favour. Ringing up the today the YB openly stated they would not be in a position to send me an offer within the 8 weeks due to their current backlog. Buty they gave reassances they would pay further reconpense for missing the FOS deadline - furthermore and interestingly they couldn't give any idea how far over the 8 weeks they would run.

It would appear where ever one turns there is a long queue, such is/was the scale of PPI mis-sales and redress happening now.

Marty...

Nasqueron

HAL_9000 wrote: »

In my case the FOS took 2 years and 2 weeks to uphold a decsion in my favour. Ringing up the today the YB openly stated they would not be in a position to send me an offer within the 8 weeks due to their current backlog. Buty they gave reassances they would pay further reconpense for missing the FOS deadline - furthermore and interestingly they couldn't give any idea how far over the 8 weeks they would run.

It would appear where ever one turns there is a long queue, such is/was the scale of PPI mis-sales and redress happening now.

Marty...

There are figures floating around showing the number of PPI complaints at banks and and at the FOS where the complainant doesn't have PPI or the complainant didn't even have a financial product with the company they are complaining about. The fact the FOS will accept any rejection, no matter how dubious the case and the CMC industry plus human greed together vastly inflate the number of cases at the FOS impacting those cases where PPI was genuinely miss-sold.

I wonder if in the next 10-20 years if there is another financial crash those same people complaining now will be complaining about the banks taking their homes as they said they didn't want MPPI or are unable to keep up payments to a loan or CC and have their credit destroyed and moan about the unfairness of the banks lol

Insider101

querty60 wrote: »

I sent what I thought was all necessary documentation to GE Money when making a complaint re mis selling of PPI on a personal loan. GE Money acknowledged the letter etc and told me they would complete their investigations within 8 weeks. So far so good. 2 days before the 8 weeks ran out I had a letter from GE. As the loan in question was taken out at a previous address, they needed confirmation of identity etc. Now call me naive but I would've thought that if they needed such info it would be the first thing they would ask, not wait 8 weeks?
Info immediately dispatched. Sat and waited. After a further 2 weeks I contacted GE. Then I get the proper picture. My case is closed. It was closed because of the letter written by GE for further info 2 days before the 8 weeks cut off period. "Their systems" automatically mark the account as closed. So - still being a trusting sort of person - I enquire as to when I may expect to hear further news. (Keeping my voice as pleasant as possible at all times) Ha! Response - your "case" is now sitting at the bottom of a huge pile of other cases. Will I get a new case number to help with any further queries? Response - possibly. Will I ever hear anything again - I DON'T THINK SO!. So this is how GE get through their work load - do nothing, wait 8 weeks, case over. Result.

As Dunstonh said, this is probably the first time someone human reviewed the file. Whilst I appreciate it is annoying getting these things two days before the case was due to close and if their process was any good they would have done it much earlier, there is at least a security reason for their request. That said, now you have provided it there is no excuse for not progressing your case. I suspect their systems just aren't set up to move it along once it has been "closed". I would ask to speak to a manager and tell them you've sent what they requested and whilst you appreciate that the request stops the clock so to speak, they have now had your verification of identity for two weeks. Therefore, there is no excuse for not prioritising your case.

You shouldn't need a new case reference either, the case should be moved forward under the previous one. It's not your fault their admin systems are poor.

Insider101

Nasqueron wrote: »

There are figures floating around showing the number of PPI complaints at banks and and at the FOS where the complainant doesn't have PPI or the complainant didn't even have a financial product with the company they are complaining about. The fact the FOS will accept any rejection, no matter how dubious the case and the CMC industry plus human greed together vastly inflate the number of cases at the FOS impacting those cases where PPI was genuinely miss-sold.

I wonder if in the next 10-20 years if there is another financial crash those same people complaining now will be complaining about the banks taking their homes as they said they didn't want MPPI or are unable to keep up payments to a loan or CC and have their credit destroyed and moan about the unfairness of the banks lol

The truth as ever is somewhere in the middle. Whilst there's no doubt that misselling happened on an industrial scale, there have been thousands jumping on the bandwagon aided and abetted by CMCs as you have pointed out. PPI in the right circumstances is a decent product and there are people who as you have described will be the poorer for the fact it is no longer easily available.

HAL_9000_2

Nasqueron wrote: »

There are figures floating around showing the number of PPI complaints at banks and and at the FOS where the complainant doesn't have PPI or the complainant didn't even have a financial product with the company they are complaining about. The fact the FOS will accept any rejection, no matter how dubious the case and the CMC industry plus human greed together vastly inflate the number of cases at the FOS impacting those cases where PPI was genuinely miss-sold.

Well said! It is genuinely frustraing that the parasitic CMCs are blocking up the system, it could be close to three years since I intially complained to YB about my mis-sell until I recieve my due recompense.

Marty...