GE Money rejected PPI - agent gone out of business

HurdyGurdy

We had a secured loan which had PPI added to it. We signed up for this because the selling agent told us that we would not be accepted for the loan if we didn't take it. 

We have made a claim to GE Money who provided the funds, and they have come back to us saying that whilst they provided the finance for the PPI, they did not sell it to us and so they can't investigate. This was done via Smart Loans and Mortgages Limited.

They go on to say that "we would normally recommend that you contact the broker who sold the PPI and ask them to investigate your complaint as they would be in a better position to do so. However they are no longer trading and in this instance you would need to identify and contact the company administrators to make any claim."

OK, I "get" that they didn't sell the PPI and weren't present at the time it was sold, but do we have anywhere to go with this now? Obviously the time for submitting claims is past, and we wouldn't have a clue who the administrators are anyway. This PPI amounted to somewhere in the region of £10,000, so we are reluctant to let this go, if there are further steps we can take. 

[Deleted User]

With no one to complain to and being past the deadline to make a complaint, there's nothing else for you to do.

McKneff

Wbat he says....

SonOf

We have made a claim to GE Money who provided the funds, and they have come back to us saying that whilst they provided the finance for the PPI, they did not sell it to us and so they can't investigate. This was done via Smart Loans and Mortgages Limited.
A very obvious and correct outcome.   Its who sold it that matters. Not who provided it (unless the seller was also the provider)

OK, I "get" that they didn't sell the PPI and weren't present at the time it was sold, but do we have anywhere to go with this now?
No.

McKneff

McKneff said:

What he sqys....

McKneff

McKneff said:

McKneff said:

What he says...

sun73

HurdyGurdy said:

We had a secured loan which had PPI added to it. We signed up for this because the selling agent told us that we would not be accepted for the loan if we didn't take it. 

We have made a claim to GE Money who provided the funds, and they have come back to us saying that whilst they provided the finance for the PPI, they did not sell it to us and so they can't investigate. This was done via Smart Loans and Mortgages Limited.

They go on to say that "we would normally recommend that you contact the broker who sold the PPI and ask them to investigate your complaint as they would be in a better position to do so. However they are no longer trading and in this instance you would need to identify and contact the company administrators to make any claim."

OK, I "get" that they didn't sell the PPI and weren't present at the time it was sold, but do we have anywhere to go with this now? Obviously the time for submitting claims is past, and we wouldn't have a clue who the administrators are anyway. This PPI amounted to somewhere in the region of £10,000, so we are reluctant to let this go, if there are further steps we can take. 

Try the underwriter of the PPI policy, as they might accept liability for the sale.  If they reject your complaint you might be able to refer it to the FOS if the underwriter was regulated at the point of sale.  However, you need strong evidence of mis-selling with secured loans, some of these complaints fail.

penners324

Companies House shows the Insolvency administration company.