Thread: GE Money Refused PPI Claim

Hi

Can anyone help

I made a claim for Mis-sold PPI. Loan taken out pre 2005 and PPi added as a single payment. Loan agreement showed

Amount of Loan
Protected Payment premium
Total loan facility
Rate of interest
and APR.

GE have advised that the cancellation rights were clearly available and opportunity to contact the office if dissatised with any detail.

They also refer to section 9 on the T&C which confimrs the policy is entirley optional and is to be included in the loan..They advised they have acted in good faith, and if I had preferrd not to take up the policy a new agreement with the policy premium omitted, could have been produced accordingly.

I have never received the exact details of the contract which is insured with pinnacle insurance ans never received a letter they advised was issued which states I have opted for payment protection (not sure where this evidence is kept) as I have only just realised that this has been added to the loan and interset on the PPI has been accruing I would ahve certainly cancelled it from outset.

In additonal I had full redundancy cover and sickness cover. Civil service worker.. Never asked any questions about me personal circumstances.

The loan was re-scheduled during the 60 month term and I presume they have included that in the loan amount for re-schdueling. The new loan did not have PPI as we said NO.

They have stated this is their final response and if I wish i can complian to Finance & Leasinf Association.

Any helpm in what I do next

Have you sent a Subject access request to GE?

This is IMO the first step, You send SAR with £10.00 statutory fee asking for all the data they have on you as a data subject within their organisation. You should get a response within 40 days with a true copy of your CCA with the terms and conditions applicable at that time. You should also ask for statements of the account, letters, recordings of telephone conversations or transcripts, copies of their needs a wants questionnaire/customer duty of care questionnaire. Also insist on any other information stored in whatever media they use electronic, microfische, cd etc.

here are a few links to help you get started...

PPI - Some Notes for Claimants..

For claims before 2005 and the FSA ruling from which campaign
How to tell if you’ve been mis-sold PPI

Quick check: were you mis-sold? - How to tell if you’ve been mis-sold PPI

Another useful site to help you reclaim missold PPI UPDATED 16 JUN 08
Reclaim your PPI premiums - payment protection insurance | This is Money

This is a little snippet from the above link....

Can I reclaim on any PPI policy?
Your claim for compensation is dependent on when you took the insurance. PPI sales only came under the jurisdiction of the FSA on 14 January 2005. Any sales made before then are not covered by the latest rules.
However, it may still be worth complaining to your lender if you feel you have been mis-sold. If you bought before January 2005 it is likely that they will have been covered by a previous regime of rules. This means that the Financial Ombudsman Service will be able to consider these complaints. If you took PPI after January 2005, your claim is subject to the latest rules.

THIS LINK IS IMPORTANT TO YOU ON RECLAIMING IT IS FROM 2001 FROM THE fos
loan payment protection insurance and a quote from this link...

When determining whether a policy is suitable, a seller – whether a lender or an agent for the insurer – must obviously take into consideration any information the prospective policyholder volunteers. However, we do not consider the seller’s duty is limited simply to recording what the borrower discloses. It is only by asking questions that the seller can properly determine suitability. These questions cannot cover every aspect of a borrower’s personal position and should not be expected to do so. To paraphrase the ABI Statement, only those matters deemed to be relevant by the insurer should be the subject of questions.