Thread: GE Money response

Can anyone help!!!! A few months ago I was looking through my card statements for Debenhams GE Money and noticed that there was a payment protection on the card. I rang GE money up to have this removed but they told me this is part of the card so couldn't be removed is this true.

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Have you got a copy of the terms & conditions?

No it's not true - if you want it removed, they should remove it.

You can claim it back if you can demonstrate thatit was mis-sold. To do that you will have to come up with a reason why the PPI was of no use to you - eg because you were in a situation where you would not have been able to claim on it, such as you were unemployed, self-employed or a pensioner

In that case, tally-ho and no quarters!!!

Hi there dwillow.

Please don't worry.

They are just fobbing you off, the majority have these as a bog standard response, as they hope you will not go any further.

Will have to check if they were under jurisdiction prior to Jan 2005 because some were also covered by GISC, besides if your unable to go to the fos about them and you do seem to have grounds for complaint you would highly possible win this case at a small claims court.

Write to them again, and if you have anything in paperwork about being a student, get it photocopied, or you could even contact the department where you studied for a copy of this with dates. I'm sure they will be able to provide this information for you.

And normally being a full time student you have no time for full time employment, so there's your answer to that, because even if you were part time working you would not have been fully eligible anyway.

I would write and tell them you are prepared to take "further action" with immediate affect with this complaint if they do not uphold and refund you what they owe you in being mis-sold, plus interest of what a court would award.
And give them 14 days.

If you still have the GE money paperwork/documents, there should be a reg company number, do you think you could add the company number here so I can check if they were regulated/covered by the FSA, if this is the case you CAN go to the financial ombudsman to complain.
Cheers.

If you require further help, give us a yell and good luck !

Di.
x

Where are you in the case now? Personally, I would ignore the letter and just progress to the next stage.

Hi Willow

You shouldn't have to go to all that trouble ... you ticked the box in good faith, they have acted unfairly and against industry regulations and code of practice, I would like to see them stand up in a court of law and provide proof to the contrary.

Would you like some help preparing a stern letter to GE Cap? I'm happy to oblige

I would always advise following timescales for provision of relevant information and allowing the lender sufficient time and opportunity to provide proof that they have not mis-sold PPI ...

... then let 'em have it with both barrels in court

HI paintball,

Would appreciate some help if thats ok in producing a letter to GE Money. I just unsure of were to go with it now. Many Thanks

Hi Willow

Here's what you could say to them. Have a look and see if you're happy with what I've put and that it covers the reasons why you think PPI has been mis-sold.

It's important to clearly state your case for mis-selling against the lender, so you might want to tweak the letter a bit :


Date


Your Ref xxx

Re: Credit Card Account xxxx


Dear X

Thank you for your letter of X 2008.

I write to inform you that I am not satisfied with the response you have provided to my initial complaint. I assert that I have been mis-sold Payment Protection Insurance (PPI) taken out on the above named credit card account on date.

At the time of taking out the credit card I made it clear to your salesperson that I was a student and with no fixed income, which status would therefore have excluded me from benefiting from or being able to make any claim within the Payment Protection Insurance Policy. The application form that you have provided me a true copy of as signed by myself on date clearly demonstrates the fact that I declared my status as a student. Inspite of this fact, a PPI product which was clearly unsuitable to meet my needs and circumstances has been added to my credit card account without either my knowledge or consent. As such, your organisation is acting in a clear breach of guidelines provided to GE Money as a lender by the Financial Services Authority, and against the Banking Code of conduct, which your organisation will have been well aware of.

In addition to this breach, GE Money had an obligation as a lender to provide information that would enable me to make an informed decision as to the suitability of the PPI product on offer to meet my needs and financial circumstances. I should also have been made aware of alternative options available, or comparative costs of similar PPI products from other suppliers, which information as a well known financial institution, you would most certainly have had access to.

At no point did I receive any such information, either by letter, document or telephone call which followed the above guideline. The documents that you have provided copies of do not contain any of the information that I have outlined above and cannot, therefore, be deemed as meeting the standard of care which you should have provided.

I reposed absolute trust in your ability as a financial institution to provide a reasonable level of care and skill in ensuring that my best interests were met when taking out a credit card with your organisation. This has not been the case and I am extremely shocked and disappointed. I feel that GE Money has taken advantage of my lack of knowledge and position as a student and am shocked that you continue to assert that PPI was fairly added to my credit card account as this is clearly not the case.

I request the return of (insert amount here plus interest) within 14 days of receipt of this letter by you. If you do not comply with my request, I will have no option but to escalate my complaint to the courts. I should remind you that the fos take the issue of mis-selling of PPI extremely seriously and in many cases, have imposed large fines on financial institutions who are in breach of regulations.

Yours sincerely


Your name here