GE PPI - What should I do, CCA not signed!

[jazzie4]

Hello

I am a newbie, so I hope this is posted in the right place.

I took out a secured loan through Priority One in 1999. we borrowed £6900 and it was from First National but we had to take out the PPI or we couldnt have the loan. We remortgaged the house and on the day the money was being transfered the solicitor phoned us and said she needed to pay the secured loan off with the new mortage which we said was fine but we had to pay £11k back even though loan was repaid 5 years early:o We had no choice but to pay this but it has always annoyed me, as they told me a few months previously that we could settle in full for £6k, where this extra £5k came from I dont know.

So i thought i would try and claim some of the PPI back, but I have no paperwork. I have found out First national is now GE Money so i wrote for a copy of the CCA. they sent it to me but its unsigned!! I wrote back asking for a refund due to mis-selling but they say i am not entitled to one because we could have cancelled at anytime and the case is now closed unless i want to make a complaint!

SO....what do i do? Is it worth trying to re-claim the PPI, can i find out why my redemption fee was £11k and did i legally have to pay that when they dont have a signed agreement???

Also is it past the 6 year deadline cos it was taken out in 1999 or is it 6 years from when it was paid off in 2004?

Sorry for the long post

[alanalana]

Hello jazzie,

firstly you should most definately ask for the repayment/refund of the PPI applied to your loan.
The first response from any bank is to try and put you off the path to reclaiming what was essentially a missold product.

but we had to take out the PPI or we couldnt have the loan.

this is not strictly true under current codes of practice and the current British Bankers Association (BBA) code of practice says banks cannot insist that PPI is required as a means to get the loan. (But banks use this to make money and lots of it).

I am not sure what the BBA position was in 1999 but there will have been rules in place for the banks adhere to.

The banks have to keep records on closed accounts, refinanced accounts for 5 years so if your account was settled in 2004 they should still have all the records.

As you already have the CCA for your settlled account the next step is to request all the information applicable to yourself and the account in question, with a Data Subject Access Request (S.A.R - (Subject Access Request)) within the directives of the Data Protection Act 1998....... You will need to send the statutory fee of £10.00 to get the information (see the stickies for a letter template) Link included later and ask for literally everything you think the bank may have on record. This would include telephone conversations, emails, letters, indeed anything you could class as data. The bank has 40 days to supply this information. If they fail to produce you can complain to the Information Commissioners Office or start Court proceedings to get the information released.

I cannot comment on the individual details of your case i.e. the figures you quote but if you want to get your money back then give it a shot.

There are lots of CAGers who will be happy to help you along the way and a lot of them are a lot more experience than myself.

Check out this for more information links and all the other links in the stickies section this for the S.A.R - (Subject Access Request)

Full S.A.R - (Subject Access Request) for ppi

PPI - Some Notes for Claimants..

Also read up on the other threads to see how people are going about claiming.

The PPI reclaiming is a fairly new field and going to be much bigger than the banks unlawful charges for unpaid Direct Debit , etc

Good Luck

aa

PS have to say I am not too sure on the Mortgage side of things so best to check whether this matches the missold PPI on the original loan.

[jazzie4]

Thank you so much for your help, i really do appreciate it, you certainly know what you're talking about.


I am going to send the S.A.R - (Subject Access Request) letter tomorrow by recorded delivery and hopefully they will reply.

thanks

[jazzie4]

As suggested I sent a letter via recorded delivery for S.A.R - (Subject Access Request) and included a postal order for £10.

Now this is a bit strange..when we took loan out we wasnt married so it was in my husbands name and my maiden name. when I sent the first letter requesting the CCA they replied back using my married name and sent me a copy of the cca which is not even signed by us or them and no dates on it!

My husband sent the S.A.R - (Subject Access Request) request and postal order using his name and my married name and they have sent a reply saying that they cant send us the information because my husbands signature doesnt match the one they have on record and they want his passport or driving licence sent. then they say they was not informed of my name change and want our marriage certificate as proof.

Why have they suddenly queried my name change when they have sent me the CCA and a letter in my married name? the CCA they sent me has no signatures on it so what are they comparing my husbands signature to??

I really dont want to send them any of our documents what should i do?

PS they kept the £10 postal order!

I hope someone can advise

thanks