Balck Horse, Welcome Finance and Ge Money, Lloyds TSB CC PPI

[iconoclash]

Hi - congratulations on this one!!

Can you just tell me, did you say it would also cover someone unemployed? one half of our Joint agreement was in receipt of benefits.....thanks:)

[adamski]

The main reason is a pre existing medical condition can't tell you what because they maybe watching but I think I may already have mentioned it(god that sounds so paranoid!")

 

campari2 just a thought who was the first named person on the insurance certificate, if you do not have this request one, or it should say on the credit agreement or other documentation you or they hold I did and received it quickly my wife who has the condition was the first named person because she applied for the loan, but i feel this should make no difference but im sure it does.

 

You really need to look at the terms and conditions of the insurance to check if it covers unemployed applicants an email or letter to the insurance company should do the trick Cardiff Pinnacle were very helpful in helping me nail GE, so find out who they are and request there terms.

[iconoclash]

Hi thanks for that - I get the gist of it - and I must try to find out what the relationship is between credit agreements and insurance as I've seen two parties on an agreement but only one on insurance for same etc., so I assume there are rules/guidelines/criteria??? but by who I can't figure, Insurance seems to be a vast grey area!!

[adamski]

Dam it how long does it take these people to print out a cheque and post no post at all today I was expecting something this week, so frustrating I really need the cash right now, why oh why does it take so long!

 

Do you all think I should ring the lady concerned she has given me her direct number?

[adamski]

A question for someone who might know, GE have emailed me and stated that they will refund all the preimum plus associated interest, does any one know what the associated interest is, i.e. is it 8% or their APR rate?

[alanalana]

Hello adamski,

 

I was advise to start with the Contractual (their APR) and gradually come down to Statutory 8%. In the event I just went for the 8%. I did this to try and get a result over and above their goodwill gesture without admission of any liability.

 

Don't forget the Interest starts from the day after your first PPI payment and is running up until they settle. If they refuse the interest is just added on until there is a settlement of your claim.

 

aa

[adamski]

I get the feeling that they have already decided what to pay i was wondering whether it will be contractual or 8%

[alanalana]

hello adamski,

 

I would guess nothing above the statutory that would be added by a Court or the FOS, so settled on 8%. It's a shame the statute doesn't match the Contractual they hit you with when the loan with ppi is started.

A lot of claims would add up to a lot of money to repay.

 

keep at them.

 

aa

[adamski]

Just a feeling by the word "associated interest" to me means the interest I have paid on the premium which would be contractual?

[alanalana]

Hello adamski,

 

you are probably 100% correct I am about to post the response I received today to my claim for 8% on top of goodwill offer.

 

Hope you get a better result and don't forget to give me you vote:D

 

aa

[RedVixen]

subscribing - such a new area

[adamski]

Also will it mean that I will get interest to the date of my complaint? the mind boggles!

[adamski]

Still no letter or cheque from GE I was told it would be in the nexy 7 days and that was on Friday how much longer must I wait!

[Fred_Funk]

hello adamski,

 

I would guess nothing above the statutory that would be added by a Court or the FOS, so settled on 8%. It's a shame the statute doesn't match the Contractual they hit you with when the loan with ppi is started.

A lot of claims would add up to a lot of money to repay.

 

keep at them.

 

aa

 

If it gets that far then the court will add the statutory eight per cent to compensate for the length of time that the defendant has had your money.

 

Unless, that is, you have argued for compound interest on the basis of Sempra - try using the site's search facility to find out more about this case - which provides a tried and tested argument for so doing.

 

If you ask for compound interest, on this basis, as compensation for the bank's unjust enrichment and take the time and trouble to comprehend the arguments then, it seems, there's a realistic chance you may get it.

[adamski]

If it gets that far then the court will add the statutory eight per cent to compensate for the length of time that the defendant has had your money.

 

Unless, that is, you have argued for compound interest on the basis of Sempra - try using the site's search facility to find out more about this case - which provides a tried and tested argument for so doing.

 

If you ask for compound interest, on this basis, as compensation for the bank's unjust enrichment and take the time and trouble to comprehend the arguments then, it seems, there's a realistic chance you may get it.

 

I get what your saying but I have had a refund from GE before and they gave me the compound interest plus a loss of cash preimum which I am sure was the 8%.

[Fred_Funk]

adamskiIt's difficult to add much more without knowing the figures but, frankly, I'd be very surprised if GE had voluntarily paid you compound interest at 8%.It is, however, altogether conceivable they may have given you simple interest, as would be awarded by a court, at 8%.The difference in the two, especially on claims dating back a number of years, can be huge. For more of an explanation, search for the user steven4604 and follow the handy link contained within his signature.Fred_Funk

[adamski]

Ok

Good news

I have had a fax from GE they are paying the preimum plus interst plus my doctors fee plus my time (sent them a payslip and asked for 3 hours at my hourly rate).

 

I have to sign a form no mention of admission or not of mis-selling or that it is a gesture of goodwill just a refund.

 

The form is in the post I don't see how I could ask for more really!

[alanalana]

Hello adamski,

 

Ok

Good news

I have had a fax from GE they are paying the preimum plus interst plus my doctors fee plus my time (sent them a payslip and asked for 3 hours at my hourly rate). You missed a 10 in front of the 3 hours at solicitors rate £50 per hour plus;)

I have to sign a form no mention of admission or not of mis-selling or that it is a gesture of goodwill just a refund.

 

The form is in the post I don't see how I could ask for more really!

 

If you are (aitch hay pee pee why) Happy then well done your it is money in your pocket and not theirs keep up the fight.

 

yours in the fight

aa

[adamski]

You missed a 10 in front of the 3 hours at solicitors rate £50 per hour plus

 

Very good, but that is greed which is what PPi is all about , I got a qoute from a former PPi salesman and this was there prep talk from a well known company

 

"PPI is money for old rope, the chance of the debtor claiming on it is virutally non existant"

[adamski]

Oh sorry for all who are reading this having read the letter for the fourth time I have now realised that GE have said

 

"This offer to refund the sum of £xxxxxx is made in the interests of good customer realtions and will ensure no financial loss to you regards the registration of this policy"

 

Make of that what you will!

 

Keep adding as im thinking all the time.

 

This goes to show that pre exsiting medical conditions proved at diagnosis are the only real grounds that financial insitutions will refund under duress.

Edited August 1, 2008 by adamski

[alanalana]

You missed a 10 in front of the 3 hours at solicitors rate £50 per hour plus

Very good, but that is greed which is what PPi is all about

 

This was meant to be light hearted. I have just turned down £2.6k goodwill gesture without admission of liability, hardly greedy.

 

Apart from recovering my money, my aim is to get these people in a position much like LV who have been fined but stood up and said we were wrong, we will pay back compensation to all. This gesture saved them from getting an even bigger fine imposed by the FSA. Remember there are a lot of people out there without recourse to CAG and the general support it offers. Mis-selling PPI runs to possibly £billions and as the offices dealing with mis-selling claims are Retail Regulatory Risk offices it seem to say in my opinion, we knew there was a risk but were prepared to take it to get our hands on your money.

 

yours in the fight

 

aa

Edited August 2, 2008 by alanalana
mis-spelling not selling

[adamski]

This was meant to be light hearted. I have just turned down £2.6k goodwill gesture without admission of liability, hardly greedy.

 

Not saying you are being greedy I agree with your principles but what I am saying is and advice to future claimants is.

 

I am a printer I sent them a wage slip containing evidence of what I was paid per hour and wrote to them explaining how much time was spent on the complaint and evidence of other expenses I got that back and more by providing the evidence i.e. wage slip etc. I am not a solicitor so I cannot realisticaly claim for being one I got my money back plus £10 more what more can I ask, to get an admission of mis-selling from them and to delay the refund is not in mine or my familys interests we need this cash now not in a year or maybe mores time it is what is owed to us we have worked out that with the complete compound interest we would gain £500 more it would cost me near on that amount to proceed with court action. I think I have made the right choice to accept.

[alanalana]

Hello adamski,

 

Not saying you are being greedy I agree with your principles but what I am saying is and advice to future claimants is.

 

I am a printer I sent them a wage slip containing evidence of what I was paid per hour and wrote to them explaining how much time was spent on the complaint and evidence of other expenses I got that back and more by providing the evidence i.e. wage slip etc. I am not a solicitor so I cannot realisticaly claim for being one I got my money back plus £10 more what more can I ask, to get an admission of mis-selling from them and to delay the refund is not in mine or my familys interests we need this cash now not in a year or maybe mores time it is what is owed to us we have worked out that with the complete compound interest we would gain £500 more it would cost me near on that amount to proceed with court action. I think I have made the right choice to accept.

 

That is all that matters. Each claimant makes up their own mind CAG is here to help along the way to that choice.

 

aa

[adamski]

OK

Recived £3,599.78p from GE Money Home Lending on Friday, a great victory.

On a bad note got a Court claim from Black Horse on the same day! even thought the account is in dispute and with the FOS which they well know.

 

I have defended and am drafting a defence and intend to counterclaim. I have a thread about it in Legal Issues.

 

So good news and bad news but to be honest I am so happy I really don't give a dam about the court claim!

 

Just remember I got a final response letter from GE but I persisited and wrote again, just goes to show never give up!

 

Also I got a credit card refund from lloyds a day beforee for £267 so a good week for refunds!

[adamski]

Well done adamski!!