Claiming PPI from company no longer trading

Carolyn_292

My husband and I took a loan with freedom finance in the early 2000s wevthought it was over 5 years but after 5 years we were told that it was for 25 years the loan and the 60 months was 5 years cover with their PPI which was nearly 1500 . A few years after taking out the Loan it then became ge money who we were paying. The interest went up and up and we eventually cleared the loan in 2015 having paid back neatly 37000 on a 13000 loan . Now ge say that although they took the money from us for the best part of 10 years they will not give us the PPI as it was mis sold by freedom fianc! who are now no more. My question is , are GE not responsible for all freedom finances customers as they took them over and as they have received all the money . My other question is as we did not take the agreement out with GE MONEY but have had to pay them can we claim our loan money back from as them ? after all they can't pay us PPI as freedom finance are not anymore so is there some legal challenge we can make as we paid a company thousands of pounds we never signed up for

[Deleted User]

No, GE aren't responsible, as they didn't sell it to you.

I'm not sure what your last sentence means.

Carolyn_292

I just wondered if we could legally challenge GE for our loan money back as we did not sign any agreement with them to begin with

[Deleted User]

No. They bought the debt, so you now owe them.

PeacefulWaters

The FSCS might kick in.

amersall

FSCS only covers loans from 14 Jan 2005.
Looks like the OP took it before then if they paid GE money for 10 years on a 25 year loan and repaid it 2015.
That is how I read it, unless they settled 10 years early?.