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Reclaiming PPI from GMAC UK
pezza0766
Posts: 2 Newbie
Hi, I hope I can get some help here.
I recall, when I was buying new cars in the late 1980s early 1990s that as part of the Hire Purchase I was sold insurance which I now know I didn't need. The problem I have is the paperwork I had has been thrown away and GMAC UK as it was, apparently no longer exists. I have spoken to the current GMAC and they are telling me that they can not help and in fact GMAC UK wouldn't have sold or under written the policy it would have been the car dealer I bought the car from. When I explained that when I paid the HP up in full it included the "PPI" which was paid to GMAC UK. The phone went dead, can someone help me, I know for a fact that on one policy I paid close to £4K!
I recall, when I was buying new cars in the late 1980s early 1990s that as part of the Hire Purchase I was sold insurance which I now know I didn't need. The problem I have is the paperwork I had has been thrown away and GMAC UK as it was, apparently no longer exists. I have spoken to the current GMAC and they are telling me that they can not help and in fact GMAC UK wouldn't have sold or under written the policy it would have been the car dealer I bought the car from. When I explained that when I paid the HP up in full it included the "PPI" which was paid to GMAC UK. The phone went dead, can someone help me, I know for a fact that on one policy I paid close to £4K!
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Comments
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nd in fact GMAC UK wouldn't have sold or under written the policy it would have been the car dealer I bought the car from.
Which is correct. The dealer has responsibility. Not the lender.When I explained that when I paid the HP up in full it included the "PPI" which was paid to GMAC UK.
Doesnt mean it was sold by GMAC though.I know for a fact that on one policy I paid close to £4K!
Complain to the dealer. They sold it to you. However, the vast majority of dealers did not become regulated until January 2005. So, they can reject pre-regulation sales as being sold prior to regulation.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Thanks for the reply, if the dealer has since changed hands or has a different name/owner can I still claim against them?0
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You can try. However, if it is not a limited company then the current owner will have no liability.Thanks for the reply, if the dealer has since changed hands or has a different name/owner can I still claim against them?
If it is a limited company then unless it is the same one that you bought from it will have no liability.
If you get over those two hurdles, you must still face the fact that FOS has no jurisdication over the actions of the dealer at that time.
If you try to go to court instead then the dealer can use section 14B of the Limitation Act 1980 to timebar the action.
So you have an uphill battle on your hands.0
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