PPI All The Paperwork But 2003
phyllisgrant
Posts: 35 Forumite
Hi. I’m hoping someone can help me.
I have four legitimate claims for PPI mis-selling due to the fact that both my late husband and I were self-employed during the whole time we had the loans with added, PPI.
I didn’t think that I had any paperwork to claim with, but late last year I found an old file on my laptop with photos of all the documentation, which even included a list of loans that had PPI attached to them from GE Money, on their letterhead. Also, I have the Insurance Certificates.
I complained to GE via Resolver, they refused my complaint stating that because the loan was taken out in 2003 and they hadn’t been a member of the General Insurance Standards Council then. I passed on my complaint to the Financial Ombudsman and they too said that they couldn’t help as GE wasn’t regulated by them at that time.
So is GE going to get away with this miss-selling, even though I have all the paperwork? It seems so unfair, as being a widow, this money that was taken from us would be a real help to me.
Is there anywhere else I could go to? Thanks.
I have four legitimate claims for PPI mis-selling due to the fact that both my late husband and I were self-employed during the whole time we had the loans with added, PPI.
I didn’t think that I had any paperwork to claim with, but late last year I found an old file on my laptop with photos of all the documentation, which even included a list of loans that had PPI attached to them from GE Money, on their letterhead. Also, I have the Insurance Certificates.
I complained to GE via Resolver, they refused my complaint stating that because the loan was taken out in 2003 and they hadn’t been a member of the General Insurance Standards Council then. I passed on my complaint to the Financial Ombudsman and they too said that they couldn’t help as GE wasn’t regulated by them at that time.
So is GE going to get away with this miss-selling, even though I have all the paperwork? It seems so unfair, as being a widow, this money that was taken from us would be a real help to me.
Is there anywhere else I could go to? Thanks.
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Comments
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I forgot to add that their first reply and knock back included a copy of the credit agreement that showed the box for single, joint, none, unticked, but with all the original figures of the loan showing correctly, just no insurance figure added.
I wrote back and accused them of doctoring the document and that I thought it hinted of, fraud.
They then, in their final response letter received today stated: “Please note, we have carried out a further in-depth investigation and have found a document in our sales files which indicated you did take out a single premium policy with Midland & General for Life and Income Protection. We apologise for our previous incorrect response and should like to offer you the sum of £25.00 for any stress or inconvenience caused by our error.”
Why can’t the FOS do something?0 -
If you drove along a road in a 40mph limit at 40mph on a Monday, then the council changed the road to 30mph on Tuesday and police sent you a ticket for doing 40mph on Monday would you accept it?
That's the thing here. The regulation of financial sales for groups that weren't a member of GISC started in 2005. A sale from 2003 wasn't subject to the regulation so you cannot apply the rules to then. If the FOS have confirmed this has been correctly applied you cannot do anything.
If it helps, PPI did cover the self-employed in most cases, it's only if the conditions for claiming are considered onerous that the FOS don't like it. That said, re-reading your comment it was single premium which sucks as you pay interest on the PPI as well as the loan which is a big no no0 -
So is GE going to get away with this miss-selling, even though I have all the paperwork? It seems so unfair, as being a widow, this money that was taken from us would be a real help to me.
If the rules did not start to 2005 then how were you missold in 2003?Why can!!!8217;t the FOS do something?
The FOS is an independent arbiter of complaints for regulated sales made by regulated companies. Regulation of insurance started in 2005. Not 2003.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 -
I have claimed successfully on a mortgage that was issued in the 90s though.
Also a credit card dating back to 2002.
What makes GE special?0 -
phyllisgrant wrote: »I have claimed successfully on a mortgage that was issued in the 90s though.
Also a credit card dating back to 2002.
What makes GE special?
Mortgages issued by bank and building societies who were members of the ABI and/or GISC. Members of those have to consider complaints going back to their membership.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
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