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GE Money PPI confused
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Posts: 6 Forumite
Wonder if someone would be kind enough to advise me please?
I’ve recieved a letter from Santander about an old GE Money/river island account which I paid PPI on.
It says under the new FCA rules the account must have been open on or after 6 April 2008 and redress only applies to PPI paid on/after 6 April 2007.
They can see I didn’t pay PPI after 2007.
If I can show evidence I paid PPI after 2007 they will review.
I closed account roundabout 2006 and spent thousands on that account over the years and deffo paid loads of PPI.
Shall I give up?
Thank you in advance x
I’ve recieved a letter from Santander about an old GE Money/river island account which I paid PPI on.
It says under the new FCA rules the account must have been open on or after 6 April 2008 and redress only applies to PPI paid on/after 6 April 2007.
They can see I didn’t pay PPI after 2007.
If I can show evidence I paid PPI after 2007 they will review.
I closed account roundabout 2006 and spent thousands on that account over the years and deffo paid loads of PPI.
Shall I give up?
Thank you in advance x
Reclaimed so far:
Alliance & Leicester £2186.76
Alliance & Leicester £2186.76
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Comments
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That is in respect of the Plevin ruling regarding commission in excess of 50%.It says under the new FCA rules the account must have been open on or after 6 April 2008 and redress only applies to PPI paid on/after 6 April 2007.I closed account roundabout 2006 and spent thousands on that account over the years and deffo paid loads of PPI.
Clearly then you cannot be eligible under the Plevin ruling as the credit agreement ended before the changes in s140a of the consumer credit act 2006 applied.
In respect of Plevin, yes as you are not eligible.Shall I give up?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 -
Wonder if someone would be kind enough to advise me please?
I’ve recieved a letter from Santander about an old GE Money/river island account which I paid PPI on.
It says under the new FCA rules the account must have been open on or after 6 April 2008 and redress only applies to PPI paid on/after 6 April 2007.
They can see I didn’t pay PPI after 2007.
If I can show evidence I paid PPI after 2007 they will review.
I closed account roundabout 2006 and spent thousands on that account over the years and deffo paid loads of PPI.
Shall I give up?
Thank you in advance x
The problem is that your card was sold pre-regulation so doesn't have to be considered for PPI complaints, they have also confirmed Plevin doesn't apply. Did you actually complain about PPI?
Also if you were unhappy about the PPI and knew you were paying it, why didn't you cancel it?Sam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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