Thread: AA99 reclaiming PPI from GEMoney/BHS store card

I have just found my original CCA dating back to 2004, with BHS,Gold Store Card, issued by GE Money, clearly showing, in my own handwiritng, that I ticked the box for PPI for ONLY 30 DAYS but they have continued to debit it for 4 years. Although I thankfully have a Credit Limit of only £250 and balance is £29, (at 29%) they have written to me tell me these cards are to be no more wef 01 November. I obviously don't need a CCA, S.A.R - (Subject access request) or anything else for theat matter. Just a straightforward link to a reclaiming template letter for PPI plus interest plus anything else I can get The account cover is charged at 150p per £100.

Is there a straightforward template letter asking for it all back ?

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Any comments before I post please ?:?


GE Capital Bank Ltd
6 Agar Street
LONDON
WC2N 4HR

For the attention of Tim Woods, Head of Customer Services



Dear Sir

BHS Gold Card A/C No.

I thank you for your letter enclosed with my Statement dated 22nd September regarding the above card coming to an end with effect from 1st November 2008.

I have enclosed a copy of my original CCA taken out with yourselves on 09 June 2004 and would draw to your attention that under No.2 Protecting your Account, I have clearly signed for this product for 30 DAYS ONLY which I was advised was included anyway and that I would be contacted in the future for further cover should I so wish.

I believe I have been unknowingly sold this insurance and in view of the above, I would respectfully ask that these insurance premiums be refunded to me, plus contractual interest of 29%.

I await your reply.

Yours faithfully

My options state I am unable to post attachments ???

hello AA99,

I have just found my original CCA dating back to 2004, with BHS,Gold Store Card, issued by GE Money, clearly showing, in my own handwiritng, that I ticked the box for PPI for ONLY 30 DAYS but they have continued to debit it for 4 years. Although I thankfully have a Credit Limit of only £250 and balance is £29, (at 29%) they have written to me tell me these cards are to be no more wef 01 November. I obviously don't need a CCA, S.A.R - (Subject access request) or anything else for theat matter. Just a straightforward link to a reclaiming template letter for PPI plus Interest plus anything else I can get The account cover is charged at 150p per £100.

Is there a straightforward template letter asking for it all back ?

Not sure but this is one of my claims if you can prepare your own version using any information from it then please do (see below) It is long and you will need to refine it to your own claim if you wish to.

Can you confirm this was not the usual 30 cooling off period to cancel the PPI?

Re: Direct Line Loan accounts. Reference numbers:
Account No xxx DATE to DATE
Account No xxx DATE to DATE (Shown as DATE)
Account No xxx DATE to DATE
Account No xxx DATE to DATE

References:
A. My Subject access request (SAR) dated 7 January 2008.
B. Your xxx dated 22 January 2008 (Acknowledgement).
C. My xxx dated 24 January 2008 (Supply of additional information).
D. Your xxx dated 29 January 2008 (Supply of copies of statements).
E. Your xxx dated 31 January 2008 (Forwarded information to branch).
F. Your xxx dated 9 February 2008 (Duplicate statements for account xxx
G. Your xxx dated 13 February 2008 (Duplicate statements for account xxx and request for more information).
H. My xxx dated 16 February 2008 (Letter stating full disclosure as requested in Reference A had not been received and concern over missing data).
I. Duplicate statements for account xxx no letter attached.
J. Your xxx letter dated 25 March 2008 requesting dates, times, names and departments re telephone conversations.
K. My xxx dated 28 March 2008 requesting full details as required by my reference A including all records of all telephone conversations.
L. My xxx dated 12 April 2008 forwarding my xxx dated 2 April 2008 with attachments.
M. My xxx dated 12 April 2008 CCA request for loans.
N. Your letter with reference Your ref xxx dated 17 April 2008 enclosing information with regard to account xxx.
O. My xxx dated 19 April 2008 requesting further data.
P. Your letter with ref Your xxx dated 30 April 2008 stating you do not have the paperwork on two previous loans.
Q. My xxx dated 9 May 2008 my response to Reference P.
R. Your xxx dated 30 May 2008 providing additional data and information on 4 DLFS Loan Accounts.

I write in regard to the above References A - R.

The documents received under cover of your Reference R show the following:

First. Each of the above accounts has had either a Payment Protection Plan or Loan Payment Protection, namely Payment Protection Insurance (PPI) policies applied to them as a single premium payment added to the total credit on the account. The above accounts were obtained from your Direct Line Department on 11 April 1997, 17 December 1998, 28 June 2002 and 15 March 2003.
Two of the accounts show detail of a rebate of part of the PPI when the account was either refinanced or settled, these are: xxx and xxx.
The other two accounts xxx and xxx show no detail of any rebate being paid on refinancing or settlement. Please explain why there is this discrepancy between accounts?

Second. It is apparent that the PPI has been applied despite your chronological sequence of events (received under Reference R) showing details on the first three accounts that I was in receipt of a War Disablement Pension. In fact you required me to send details of the War Disablement Pension as proof of part of my income before the loans accounts were approved.

Third. None of the account statements show any breakdown with regard to the direct debit premiums of what proportion is for the loan capital and what proportion is for the PPI and interest.
I am now convinced that I was mis-sold these PPI policies for the following 7 reasons:

1. Responsibilities When Underwriting a Policy of Insurance: On each occasion, when the details of a loan were discussed your Direct Line sales advisors failed to check my personal circumstances at the time of the sale, which they are under obligation to do when underwriting a Policy of Insurance. If they had done so, they would have realised that the PPI policies were useless to me. At no time was any attempt made to ascertain if the product provided was fit for purpose, suitable for my needs or if indeed it was required at all.

2. Alternative Insurance Cover: Your sales advisors in each case failed to ask me if I had any alternative arrangements for insurance cover. My employer has a generous illness package which would cover a period of sickness as follows: 6 months full pay followed by 6 months half pay. I would also be entitled to a generous redundancy package and a substantial payment would be made in the event of my death in service (more than suffice to clear the balance of the loan).


3.Failure to Supply Important Information with Regard to Significant Policy Exclusions: I was most definitely not informed that the PPI policies could contain certain exclusions which could affect me and my ability to claim on the policies if I should need to. Additionally I was never told that Pre Existing Medical Conditions could invalidate my policy and I was never asked if I had any Pre Existing Medical Conditions despite your advisors being aware I was in receipt of a War Disablement Pension. One element of this pension includes back injury which I know is an exclusion in PPI Policies. I also believe that I would also be excluded on at least one other existing condition.

4. Widespread PPI Mis-Selling:I am now aware of the widespread mis-selling of PPI by some financial institutions, following recent media coverage and recent OFT, FSA and Competition Commission investigations and inquiries regarding the mis-selling of PPI. I believe this is borne out by Point 3 above. I am also aware that the question of PPI cover is the subject of an ongoing inquiry by the Competition Commissioner The provisional findings have just been released as a news brief on 5 June 2008.

5. Wholly Inappropriate PPI Selling - Bonuses: I understand that some employees are paid higher bonuses if they get prospective creditors to take out PPI with loans. How can the best interests of the customer possibly be met, if there is a clear conflict of interest between your responsibilities to me, and the drive of your employees to sell Payment Protection Insurance whether it is suitable or not in order to receive bonuses?

6. True Nature of Single Premium PPI Not Explained: No explanation was forthcoming from any advisor on any occasion on the full extent of single premium PPI policies or the fact that they would offer little or no refund if the loan was settled early or if the insurance was cancelled. The statements you have forwarded on accounts xxx and xxx, show no element of any refund of PPI or PPI interest when the accounts were refinanced or settled. There was also no explanation that the cost of the PPI premium would be added to the total cost of credit and interest added for the full term of the agreement. I believe this practice is unlawful.

7. Unfair attachment of PPI with no competition involvement
I now believe that the single premium PPI policies attached to the loan accounts were both extremely unfair and totally unreasonable and offered me very little, if any protection value whatsoever. Furthermore I believe in light of the preliminary finding by the Competition Commission that the PPI was unfairly attached as there was no opportunity for me to seek competitive Insurance. I am therefore requesting a full refund of all costs including all single PPI premiums that have been paid, the interest added to these premiums and the PPI proportion of the direct debit payments, that I have paid over the life of the account agreement.

Furthermore as I believe I have been unlawfully deprived of this money, I also expect the repayment of the interest at the Statutory Interest rate of 8% to be applied to of each of the single premiums and the PPI proportion of the direct debit payments.

Details of the single premiums for each account with the interest payments made are as follows:

Account No. xxx
Insurance premium £521.73 Monthly direct debit £183.75 X 19 payments.
No rebate of PPI on refinancing.

Account No. xxx
Insurance premium £613.03 Monthly direct debit £215.90 X 11 payments.
Insurance rebate of £254.05.

Account No. xxx
Insurance premium £1,301.15 Monthly direct debit £274.99 X 8 payments.
No rebate of PPI on refinancing.

Account No. xxx
Insurance premium £2,552.79 Monthly direct debit £330.01 X 11 payments.
Insurance rebate of £1,507.96 on settlement.

If I do not receive a favourable response to this letter, I will pursue my claim through the Financial Ombudsman Service (fos) and indeed the Courts if necessary.


Yours faithfully,


Aa

This one went to the FOS and is my first success I turned down the first offer and have since received a revised offer.

Hope this can be of use to you

aa

aa Thanks for the info.

I presume that was the 30 day cooling off period. There was definitely a reason I wrote that. I have always been self-employed or on benefit and knew that most of the time these PPI's weren't applicable to me so have never intentionally taken them out. I specifically endorsed that signature:-?

Originally Posted by AA99

Any comments before I post please ?:?


GE Capital Bank Ltd
6 Agar Street
LONDON
WC2N 4HR

For the attention of Tim Woods, Head of Customer Services



Dear Sir

BHS Gold Card A/C No.

I thank you for your letter enclosed with my Statement dated 22nd September regarding the above card coming to an end with effect from 1st November 2008.

I have enclosed a copy of my original CCA taken out with yourselves on 09 June 2004 and would draw to your attention that under No.2 Protecting your Account, I have clearly signed for this product for 30 DAYS ONLY which I was advised was included anyway and that I would be contacted in the future for further cover should I so wish.

I believe I have been unknowingly sold this insurance and in view of the above, I would respectfully ask that these insurance premiums be refunded to me, plus contractual interest of 29%.

I await your reply.

Yours faithfully

SENT TODAY

Letter received 19 November offering full refund of PPI, interest, and loss of cash payment. Cheque to be with me with 2 weeks !

CAG donation on it's way !