PPI Reclaiming discussion Part II

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

marluc

sparky0107 wrote: »

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

Hi.
We had a loan with IGroup. We were told that the loan was conditional of PPI. When I first wrote to GE Money, they told me to take it up with Freedom Finance - the broker. So I then went after them instead.
If you read some of my earlier posts, you will see that FF are repaying me the PPI and 8% interest.
Who brokered your loan?
I think if you have time, you should read through some posts as there is a wealth of information on this forum.
Do keep at it, you will win:money:

sarahc5388

YEOSAL wrote: »

Just think of all the time it takes them to find and compile the information - especially the SAR request posted by Laini. Bet it gives them a stinking headache when they get these requests! £10 does not cover much..:rotfl:

This is true - and I am enjoying that thought!:rotfl:

Absolut_Wench

I'm also enjoying that thought - especially as almost every bank/credit card I have dealt with so far has sent bare minimum - meaning I'm constantly hassling them for the info they should send in their first bundle.

I think they are getting fed up with me being so picky :rotfl:

Absolut_Wench

di3004 wrote: »

Hi there folks.;)

Does anyone know if Endeavour Personal Finance were regulated by anyone in 2004 ? Cheers.;) If not the FSA what about GISC ?

Our loan was taken out in July 2004, it was a loan for 25 years, but we paid this off in 2005, 24 years earlier, the rebate was so poor when settled this with Endeavour, yet it was sold by a 3rd party broker called Click finance who have now unfortunately dissolved, so a bit of a predicament here really.
Myself and hubby when taken the loan and ppi in 2004 we thought it was all part of the agreement and to be eligible for credit, as nothing was explained then, as we are aware the 'advised' sales did not come into force until Jan 2005.

However,it was my husband who had the single ppi for this loan and has medical problems (back), and did do also when taking out this policy where he did tell the broker he had just returned to work from being on the sick due to this, but still nothing mentioned, no advice or options etc !

The paperwork I do have here from the SAR do not mention anything about any regulators from what I can see, only those of the FISA, unless I've missed this somewhere, but I do know Endeavour were not regulated by the FSA as their final response states that we are unable to take this to the FOS as they were not regulated and blah blah blah .

We do know that the mis selling company HFC are part of this company, but not sure if can can pursue through these.
The insurance as stated on the Endeavour paperwork is 'Hamilton Insurers'.

Will be happy to hear of anyone elses experience with these and if any successes if possible and what route you had taken if the company was not then regulated, cheers folks and sorry to blab on lol.

di.

Hi there Di,

I have just submitted a SAR for info regarding my parent's secured loan with Endeavour (taken out in July 2004, still has a couple of years to run). I think it was sold through Norton, from the very little paperwork we already have. I have to say, my mum is obsessive about keeping documents, but the paperwork from Endeavour would fit in a small envelope.

I have a horrible suspicion that they will come back and say "we weren't regulated, you can't go to the FOS, now sod off" but I'll worry about that when it happens.

I'd appreciate any advice from the great folks on here, and I will post any info as I receive it.

sarahc5388

Absolut_Wench wrote: »

Hi there Di,

I have just submitted a SAR for info regarding my parent's secured loan with Endeavour (taken out in July 2004, still has a couple of years to run). I think it was sold through Norton, from the very little paperwork we already have. I have to say, my mum is obsessive about keeping documents, but the paperwork from Endeavour would fit in a small envelope.

I have a horrible suspicion that they will come back and say "we weren't regulated, you can't go to the FOS, now sod off" but I'll worry about that when it happens.

I'd appreciate any advice from the great folks on here, and I will post any info as I receive it.

Hi - glad you sent the SAR. Search this thread as I'm sure you will find other posts on Endeavour and Norton. Did you you send them Martrins 1st letter and have they sent a response yet?

sarahc5388

petermb wrote: »

Please do not claim for just ppi with these loan companies. seek out Homer-J. he will give you some advice that will allow you to call the loans themselves into question.

doing this will allow you to claim far more than just the ppi premiums and interest

for Endeavour!

marshallka

tiigrae, about my claim with Firstplus... Has anyone been to Barclays as Firstplus were not GISc regulated at the time of my claim. They were owned by the Woolwich plc at that time and then Barclays bought the Woolwich and acquired Firstplus at the same time. This would mean being able to use FOS. Any advice as quick as possible as time is running out. Is it worth a shot before the courts. I will be holding Firstplus responsible under the section 75 legalisation you gave me.

alleybabes

Hi does anyone know if its ok if i havnt got my original paperwork for when i go to court? i have only got the photocopy will this matter? its been over 6 years since we took it out so we paid it off 2004 and didnt keep the paper work as we didnt know about this reclaiming till a few months ago, m colak where are you?

sparky0107

marluc wrote: »

Hi.
We had a loan with IGroup. We were told that the loan was conditional of PPI. When I first wrote to GE Money, they told me to take it up with Freedom Finance - the broker. So I then went after them instead.
If you read some of my earlier posts, you will see that FF are repaying me the PPI and 8% interest.
Who brokered your loan?
I think if you have time, you should read through some posts as there is a wealth of information on this forum.
Do keep at it, you will win:money:

Hi marluc,
The only names on the paperwork I have are GE Money Home Lending & igroup, no mention of FF as the broker

From the paperwork I have the following details:-

WHO PROVIDES INSURANCE POLICY

This insurance policy is arranged by igroup Finacial Services Limited. It is underwritten by CIGNA Europe Insurance Company S.A-N.V. and is designrd to meet your mortgage needs if you are absent from due to an accident, sickness, hospitalisation or unemployment.

Then further on in the paperwork is the address of CIGNA

CIGNA Europe Insurance Ltd S.A.-N.V. Incorporated in Belgium with limited liability

Registered Office

Avenue de Corleburgh, 52,
Brussels Belgium

Registre du Commerce du Bruxelles. 651649




Thanks again