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I have reciently been made redundant and have a loan with GE Money, when I tried to claim on the PPI I was told it expired last october.
The insurance was made a condition of the loan, the term of the loan is for 10 years and no way would I agree to a five year insurance plan on a 10 year loan.
GE's attitude is tougth we dont care, go to the broker who I think is freedom finance.
can anyone advise me of my options
I find it rather strange that someone would sell you a five year policy to cover a ten year loan
I think someone is trying to take the p*ss here
Send them a SAR for all of the loan details including the info on the PPI. They sold you the insurance and have been paid handsomely for it! If it is not worth the paper it's written on it's been miss sold and you have been left with a useless product.
Don't take any sh*t from these band*ts
Get the SAR off as soon as possible, see what the PPI terms and conditions say, then go in for the kill
Go for it!!!!!
9-1-07 S.A.R - (Subject Access Request) sent:o !! Lloyds and Halifax!
20-1-07 S.A.R - (Subject Access Request) sent Capital One
20-1-07 S.A.R - (Subject Access Request) sent Halifax Card Services
20-1-07 S.A.R - (Subject Access Request) sent Marbles
20-1-07 S.A.R - (Subject Access Request) sent Halifax (Birchave0's sis)
8-3-07 PPI refund Lloyds TSB Loan £1200 + £2900 off loan balance
22-5-07 Halifax *Won* £1025
23-9-07 Goldfish 8k balance written off, £2300 PPI + charges returned, no agreement
side a pile of LTSB 'fob-off' letters struggling to get out!
Posts
2,398
Re: GE Money & PPI
Hi parian
As birchave0 says you should do a SAR then start the ball rolling to get your PPI refunded.
There are many stickies at the top of this forum explaining reasons why you may fall into the mis-selling categories and giving assistance on how to reclaim.
Once you have all your info there are plenty of experienced Caggers able to offer further help if you keep your thread updated when developments occur - alanalana and pompeyfaith spring to mind!
As for the 5 year policy on a 10 year loan - this is quite common. On a mortgage we had, our PPI only covered the first 3 years of the full 25
We have since been told by the broker that this was because to insure the full 25 years would have been prohibitively expensive and that with a mortgage we were most likely to have remortgaged after 3 years anyway - but I'm sure most people are completely unaware that they are only covered for the first few years. Anyway with a loan (as in your case) you are not going to refinance after the first 5 years, so why don't they just cover the full term
Good luck!
Regards,
Landy x
LTSB PPI on various loans (current/settled) - Refunded inc 8%
MBNA 1 Charges - Refunded inc CI
MBNA 1 PPI - Refunded
MBNA 2 Charges - Refunded inc 8%
MBNA 2 PPI - Refunded
MBNA 2 Accident Ins - Refunded
Swift Advances (settled) Mortgage Charges -Partially refunded
Swift Advances (settled) Mortgage PPI - Refunded inc CI & 8%
Sainsburys (settled) Loan PPI - Refunded inc CI +8%
Sainsburys (closed) Card Charges - Refunded inc CI + 8%
M&S Money (closed) Card Charges - Refunded inc CI
M&S Money (closed) Card PPI - Refunded inc 8%
Direct Line (settled) Loan PPI - Refunded inc CI + 8%
phoned GE & Freedom finance this morning, they said that I knew what I was signing when I took out the loan and that its my own fault im in this mess, then pointed the finger at the other party
who do I ask for the cca, GE or FF
phoned GE & Freedom finance this morning, they said that I knew what I was signing when I took out the loan and that its my own fault im in this mess, then pointed the finger at the other party
who do I ask for the cca, GE or FF
Ianb
you need to SAR so you can obtain all of the info on the account, mainly the PPI policy. Send it to GE, they sold you the loan
ps - don't phone them they just fob you off, stick it in a letter and send recorded delivery
9-1-07 S.A.R - (Subject Access Request) sent:o !! Lloyds and Halifax!
20-1-07 S.A.R - (Subject Access Request) sent Capital One
20-1-07 S.A.R - (Subject Access Request) sent Halifax Card Services
20-1-07 S.A.R - (Subject Access Request) sent Marbles
20-1-07 S.A.R - (Subject Access Request) sent Halifax (Birchave0's sis)
8-3-07 PPI refund Lloyds TSB Loan £1200 + £2900 off loan balance
22-5-07 Halifax *Won* £1025
23-9-07 Goldfish 8k balance written off, £2300 PPI + charges returned, no agreement
Also keep copies of all your correspondence as you may need copies for the fos or Court later. You should try and keep them in sequential order it makes life easier when you want to refer back to a particular letter and it also helps when the complaint is escalated.
I have no legal training and the advice I offer is a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner. ------------------------------------------------
Bank charge successes:
Halifax - Full settlement incl interest.
HSBC - Settlement, goodwill no admission of liability about 75% of claim.
RBS - Settlement, goodwill no admission of liability about 70% of claim.
2 ongoing claims for bank charges with HSBC with more to come. (Supreme Court ruling could have upset these claims) They did
PPI Successes
PPI 4 settlements on 9 loans. FOS involvement on 7 added on the 8 % Statutory interest another 30% to both.
2 claims settled in full with LV without FOS involvement.
2 claims settled in full with HSBC without FOS involvement
PPI Claims ongoing with:
Cap one Now with the FOS
Barclays. Paid up today 24/04/10 cheque received for over £4,500 and in the bank.
LTSB still have to decide on this as their SAR production was abysmal. Papers data mixed up documents missing etc
Please do not PM me for advice as it may be sometime before I can respond.
Keep at them. Do not give way and do not accept all they tell you, they will delay and stall for as long as they can to prevent repaying you your mis-sold PPI.
I dont want to hijack this thread by I have a quick question about GE.
I had a £30k loan with Igroup/GE taken out through London Scottish & with PPI. Ididn't get into arrears or anything but I did settle it after 10 months, payimg a big erc. This was in 2004. Does anyone know whether igroup were involved with secret commissions etc?
I've got exactly the same problem, 10 year loan but 5 year PPI, in fact recently SAR GE only to learn that although the salesman stated that both borrowers would be covered in actual fact only the 1st named is covered & as thats me - Iam self employed sub contractor.
GE's stance at the moment is that its the double glazing company thats responsible for selling the PPI, not GE - utter rollocks ! ! Says I.
I've got exactly the same problem, 10 year loan but 5 year PPI, in fact recently SAR GE only to learn that although the salesman stated that both borrowers would be covered in actual fact only the 1st named is covered & as thats me - Iam self employed sub contractor.
GE's stance at the moment is that its the double glazing company thats responsible for selling the PPI, not GE - utter rollocks ! ! Says I.
thats exactly what happened to me they told me both borrowers were covered but only i was working at the time, my sister who is the second borrower is on benefits.
GE Money & PPI
and have a loan with GE Money, when I tried to claim on the PPI
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Originally Posted by parian
