Thread: PPI with GE Money

Originally Posted by Renard

I took out a loan with GE Money about 2 years ago, which is now paid up, and it included PPI. I was persuaded to take out PPI at the time as I was under a lot of money stress at the time, but can't say that I was pressured into it, just that I wasn't thinking straight. The monthly repayment figure was only quoted including the PPI so I have no idea what the monthly PPI payment was.

Now the loan has been paid off early I have received a letter from GE Money saying that should I need to make a claim on the insurance in the future, the monthly benefit will be paid to me directly by Pinnacle Insurance.

I have a couple of questions about this, if anyone can help.

1. Does this mean that the insurance is still operative? I thought this would be cancelled when the loan was paid off.
2. If it is operative, does it mean that I paid a one off premium?

I have looked everywhere for the original paperwork but it has gone missing. I intend to send a S.A.R - (Subject access request) to GE Money as I was late with a couple of payments and will be claiming the charges back. Should the details they send me include the details of the insurance, or do I need to contact Pinnacle for this?

After reading the threads I think that I can claim a refund on the PPI.

Any advice would be much appreciated.

Renard

Hello Renard,

Welcome to the forum.

Well it sound like the ppi is still running, idiots. they should have cancelled it and paid the refund of ppi and interest back into the loan amount and therefore you should have paid less to settle the account. But know they would still let it run and have they just informed you of this, after the loan was settled. And what payment would you approach pinnicale for????????

I would now write to them and cancel and receive the refund and maybe then go after them for the rest of what you have paid.