Loanmakers PPI [GE money] reclaiming & the judicial review Purchased it Before Jan 05

[comando09]

I have contacted Loanmakers about being missold PPI.

It was sold to me in September 2003.

Loanmakers have rejected my claim due to the date it was sold stating that i was given an "information only service " from them and it was my chioce to proceed with the policy.They have stated that "General Insurance "was not regulated until January 2005.

Could anybody advise me on how to proceed with this claim. The FOS have said they cannot handle the case because of when it was taken out.

Has anybody else come up against this problem?

Does anybody know if this complaint can be taken to the Small Claims Court or has anyone gone down this route.

Any information would be greatly appreceiated.

Thanks

[Guest Old_andrew2018]

My brother in law has a similar problem, to be honest he was able to cancel but got nothing back

[ukaviator]

Hi

 

They may have been regulated by the Financial Leasing Association before 2005, worth checking on their website to see if the company was under their watchful eye. You can then make a complaint to them if it was under their juristriction.

 

Here is a link:

 

FLA :: Complaints :: Complaints

 

Worth checking first with a phone call to see if that company was registered there. If you have no joy there, then you probably will have to file a court claim against them.

[comando09]

Thanks for your help ukaviator.Loanmakers are not listed as members of the FLA. I have have written to Loanmakers giving them 14 days to refund my money or face having to go to court.I think this is going to drag on a little but i have plenty of time so will keep trying.

Do you know of anyone who has taken loanmakers to court and if so what was the result?

[comando09]

Could someone please clarify who is responsible for PPI if the company that sold it i.e Loanmakers has gone bust.

 

I had a loan through Loanmakers they got me the loan with G.E,Money

they also conned me into taking out PPI with Cardif Pinnacle.

 

So who is responsible for the mis-selling of the PPI.

 

Both G E Money and Cardif Pinnacle deny responsibility.

 

The person at Cardif pinnacle said that G E Money were responsible and they say that Loanmakers are responsible.

 

Both of these companies say that because they did not sell the PPI it is not their problem.

 

I have been in contact with the FOS and they stated to me that because the loan was taken out in 2003 Cardif Pinnacle are the one

i should claim against because they provided the PPI policy and if i were to have made a claim they are the ones that i would claim against.

 

I have written to both companies giving them 7 days to refund my money

or i will take them to the Small Claims Court.

 

I have just got to work out which company to sue.

Any advice to end this confusion would be greatly appreciated.

[BankFodder]

Firstly, you are doing things absolutely incorrectly by making wild threats to everyone when it is clear that you are not sure where you stand.

Don't expect these people to be fazed by your bluff.

They receive hundreds of hot air letters every week and they know that almost all of them will go away and die. You don't do yourself - or anyone else any favours.

 

I think that we need to know who has had the benefit of your premiums and in what way was the loan missold. Are you not an insurable risk in some way?

[comando09]

I think you have the wrong end of the stick here,

 

i am not making threats i was acting on information provided by the FOS. do you know better than them?.

 

My premiums for the PPI went to the insurer obviously.

 

The loan was provided by G E Money i have already stated that.

 

You should know that most PPI was mis-sold,

like most people who got conned into having it i was not told about it being only for me when in fact my loan was in joint names,

i was not told it only covered 5 years when the loan was longer .

I was not asked about any pre-existing medical conditions

i might have.the policy was loaded onto the front of the loan,

 

correct me if i am wrong but this is not allowed now.

 

The list goes on it is a classic case of a mis-sold policy.

 

The person i spoke to at Cardif Pinnacle the PPI provider even told me that,

but he was just trying to pass the buck and blame either G E Money or Loanmakers.

 

I said to him that if i had tried to claim on this policy they would claim that for what ever reason they wanted

i was advised that i could not claim and was told about it at the time of the sale.

They cannot have their cake and eat it.

I hope this explains my reasons for claiming .i would appreciate any help that you might be able to offer.

[dirkuberpower]

I think you have the wrong end of the stick here, i am not making threats i was acting on information provided by the FOS. do you know better than them?.My premiums for the PPI went to the insurer obviously.The loan was provided by G E Money i have already stated that.You should know that most PPI was mis-sold, like most people who got conned into having it i was not told about it being only for me when in fact my loan was in joint names, i was not told it only covered 5 years when the loan was longer .I was not asked about any pre-existing medical conditions i might have.the policy was loaded onto the front of the loan, correct me if i am wrong but this is not allowed now.The list goes on it is a classic case of a mis-sold policy.The person i spoke to at Cardif Pinnacle the PPI provider even told me that, but he was just trying to pass the buck and blame either G E Money or Loanmakers.

 

I think cannonfodder was referring to your remarks that you have given 2 firms 7 days to refund or you are taking them to court.

 

First of all firms have 8 weeks to investigate complaints.

 

Secondly,you need to write to the company that sold you the ppi. Which is loanmakers, and give them 8 weeks!

 

Ge provided the lending and cardif pinnacle are the insurer.

[comando09]

If you read my first comment it clearly states that the company that sold the PPI is Loanmakers and they have gone bust, as to the companies having 8 weeks to reply this has been going on since last year so they have had more than 8 weeks to reply.I will be following the advice i received from the FOS and will be taking Cardif Pinnacle to court. If anyone knows any better advice then please post it here for not just my benefit but anyone else in the same situation.

[Debt dodger]

I am in a similar situation. In 2003, Loanmakers set up a loan for me on behalf of Paragon Finance, which included a forced sale of PPI as a condition of approval. Loanmakers went bust in 2009, and are without doubt responsible for the illegal sell of the PPI. I complained to Creditflex who acquired the Loanmakers name last year, although they have since changed again to Gopher Finance. They of course accept no responsibility and suggested I claim against Paragon (the lender), which I did. Paragon also accept no responsibility, blaming Loanmakers entirely and suggest I claim through the FSCS.

 

However, I am not so sure of Paragon's innocence. Yes I agree that the bankrupt broker missold the PPI to gain a higher commission, but at the end of the day it is Paragon that benefited from the inflated loan repayments as a result, whether they were aware or not. Money was paid to them unfairly, regardless of who set the loan up and in my eyes it is them who should pay it back now that the problem has been exposed. I do not blame Paragon for misselling the PPI, as they did not. I do blame them for keeping my money now that the truth has been revealed.

 

Do I press on with my pursuit of Paragon, do I contact the FOS, or do I contact the FSCS?

[ims21]

Hi there

 

You claim from whoever you were payng the premiums to. As the premium was included in the loan, it is whoever your loan repayments were made to. In my view this would be GE.

 

Have a look around the ppi threads....you wll find the answers in there.....and become more effective at how to proceed with your claim.

 

ims

[comando09]

Can anyone inform me if the judicial review covers banks only or do all PPI providers including GE Money have to adhere to its ruling.I have spoke to GE Money and they say the ruling does not apply to them.Any information would be greatly appreciated especially any links that have apply to GE Money or other similar lenders.

[dx100uk]

so ge are wriggling?

 

nothing new there

 

dx

[dx100uk]

three threads merged on the same ppi reclaim

for history sake

 

dx

[citizenB]

If you have a look round the forums, you will find plenty of GE money claims and successes.

 

Perhaps GE Money would like to provide confirmation/proof that they are not bound by any of the Judicial review.