PPI Reclaiming discussion Part II

Laini

marshallka wrote: »

Laini, after you submitted your complaint to FOS did you email them more things or send them by post always.

just emails its easier and you dont have to pay postage x
plus they reply a lot quicker by email to say they have received your information and sometimes it jogs them to give you more information on the progress of your case

sparky0107

Morning everyone,
Just re-posting my last 2 posts regarding GE Money Home Lending. Can you good people please take a look at this for me? How can they sell a loan fpr 300 months with 60 months PPI which only pays a maximum of 12 months cover? Surely this can't be legal! Sorry to hijack the thread again

Original post
Hi all hope you can help received loan agreement paperwork back from GE Money Home Lending (igroup), can you good people take a look at the figures below and see if I have a chance of reclaiming PPI. Considering my wife and I get paid by our employers if we are off sick, have an accident or go into hospital

Igroup loans ltd

• Advance amount £5000

• Optional Protection Insurance £1320

• Amount of credit £6320

• Broker Fee £500

• Total £6820

• Monthly repayments £73.09

• Repayment period 300 months

• Insurance cover - Accident, sickness, hospitalization and unemployment – paying a maximum of 12 months benefit

• Term of cover 60 months

Loan started on 1st July 2003 and settled on 3rd February 2005

Do I still need to write to GE and ask for SAR to get all the final paperwork for the original loan etc? Any pointers would be greatly appreciated, sorry the post is so long


2nd Post
Morning everyone,
Just received loan paperwork from GE Money Home Lending, they have not included our signed customer credit agreement, just a breakdown of payments & some screen grabs from what looks like an access database. If you don't mind could you take a look and see what you think, sorry if this post drags on. Here goes:-

Loan amount £5000 (300 months)
PPI amount £1320 (60 months cover max payment £73.09)
Brokers Fee £500
Total £6820

Account opened 01/07/03
Account Closed 02/03/05
Payments made 19

Payment breakdown (1st payment 01/08/03)

1 X £73.09
5 X £71.83
3 X £73.09
4 X £74.34
1 X £75.60
2 X £76.16
4 X £78.12

Sub Total £1489.27
Refund £78.12
Total £1411.15

Settlement 03/02/05 £7588.60

On the last sheet under repayments the following figures have been added

Repayment admin charge £177.12
Repayment of fees & additional? £659.60

PPI only covered 60 months repayment, plus a maximum amount of £73.09, so it would not have covered some of the repayments.

Any pointers I can use to make a case, under mis-selling. Any help would be appreciated

leedspete_2

this is from cattles that own welcome read it and laugh yaself silly http://www.cattles.co.uk/index.php?payment_protection_insurance

NiiMantse

Can anyone please give me the email of the MD for FirstPlus???? If not can i have that of the Compalints dept. PLEASE!!!!!!

marshallka

NiiMantse wrote: »

Can anyone please give me the email of the MD for FirstPlus???? If not can i have that of the Compalints dept. PLEASE!!!!!!

I too am wanting that one. I have emailed the customer services and written in large letters complaint. Have yet to have a response though.:mad:

maxdp

weissy wrote: »

is anyone else having issues with the financial ombudsman taking ages to assign anyone to look at their case?

My claim for egg has been with the for over 3 months and they keep sending me letters saying they still have been unable to assign anyone to look into this

They were brilliant before with my HSBC claim which was resolved within a month - just wondered why this one is taking so long - i'm guessing because of the sheer volume of claims - but was wondering if anyone else if having the same issue

Cheers

Hi Have had the same problem. It is the amount of work they are having to deal with. Put two claims in in January one for PPI on Loans the other for PPI on credit card. Loan took till last week in May to sort out but the CC PPI has still not been assigned a case worker.

Hang in then they will get round to it.:rotfl:

tomglentanar

Marshallka,

Do you know when Freedom Finance became authorised by FSA?

Cheers

Elsie2_2

tiggrae wrote: »

I wouldn't have thought so, in my experience they have a standard defence regardless of cost - what's the basis of the defence they've filed ?

• First Direct offered and the claimant accepted further advances to finance the purchase of the optional personal loan protection.
• At the same time, the un-used portions of the PPI advances were refunded when loans finished. (these have been taken into account when asking for the refund).
• The 2001 accounts closed several years ago, first direct is no longer in a position to supply copies of original loan agreements (I have my originals) however first direct believes that the agreement indicted PPI was optional and the claimant would have been supplied with docs to show it was optional and given a 28 day cooling off period. (my documents show a pre-ticked box in the PPI option so it was a choice to opt out rather than opt in, something I didn’t know was possible at the time)
• It is denied that the claimant is entitled to relief sought in that the agreements were discharged pursuant to their terms during 2002, the claimant received good consideration for those not refunded when the accounts were closed, the defendant did not act as financial advisor, in any event the claim related to funds advanced during 2001, more than 6 years prior to the proceedings and is therefore stature-barred. (although the loans were opened over 6 years ago, the timescales between the loans ending and the beginning of my proceedings was within the 6 year limit.)

chipbeck

In your reply you detail the fact that in the year 2000 I contacted your Telemarketing team in order to set up account cover. As far as I am aware such a telephone conversation never took place. This being the case could you please provide some evidence of this alleged conversation, preferably a tape recording of the call or at worst a transcript of the discussion that allegedly took place.
You also mention the fact that documents and a policy where issued to myself, these too where unfortunately never received.
Whilst comparing the information sent to myself following my SAR request with the information sent in your letter it became obvious that these important transactions are not in the account notes. How can this be? It would appear that any other correspondence between myself and your company is duly noted.
I look forward to receiving some form of proof regarding the alleged telephone call, should I not receive a satisfactory reply then I will be forced to seek legal advice.


Is the above ok or should I embelish?

kinikki

NiiMantse wrote: »

Can anyone please give me the email of the MD for FirstPlus???? If not can i have that of the Compalints dept. PLEASE!!!!!!

Unsure what the rules are on posting email addresses on this site so to be safe will send you PM.