GE Money response

[Paintball]

Hi Willow

 

You shouldn't have to go to all that trouble ... you ticked the box in good faith, they have acted unfairly and against industry regulations and code of practice, I would like to see them stand up in a court of law and provide proof to the contrary.

 

Would you like some help preparing a stern letter to GE Cap? I'm happy to oblige

[Paintball]

I would always advise following timescales for provision of relevant information and allowing the lender sufficient time and opportunity to provide proof that they have not mis-sold PPI ...

 

... then let 'em have it with both barrels in court

[Paintball]

Hi Willow

 

Here's what you could say to them. Have a look and see if you're happy with what I've put and that it covers the reasons why you think PPI has been mis-sold.

 

It's important to clearly state your case for mis-selling against the lender, so you might want to tweak the letter a bit :

 

 

Date

 

 

Your Ref xxx

Re: Credit Card Account xxxx

 

Dear X

Thank you for your letter of X 2008.

 

I write to inform you that I am not satisfied with the response you have provided to my initial complaint. I assert that I have been mis-sold Payment Protection Insurance (PPI) taken out on the above named credit card account on date.

 

At the time of taking out the credit card I made it clear to your salesperson that I was a student and with no fixed income, which status would therefore have excluded me from benefiting from or being able to make any claim within the Payment Protection Insurance Policy. The application form that you have provided me a true copy of as signed by myself on date clearly demonstrates the fact that I declared my status as a student. Inspite of this fact, a PPI product which was clearly unsuitable to meet my needs and circumstances has been added to my credit card account without either my knowledge or consent. As such, your organisation is acting in a clear breach of guidelines provided to GE Money as a lender by the Financial Services Authority, and against the Banking Code of conduct, which your organisation will have been well aware of.

 

In addition to this breach, GE Money had an obligation as a lender to provide information that would enable me to make an informed decision as to the suitability of the PPI product on offer to meet my needs and financial circumstances. I should also have been made aware of alternative options available, or comparative costs of similar PPI products from other suppliers, which information as a well known financial institution, you would most certainly have had access to.

 

At no point did I receive any such information, either by letter, document or telephone call which followed the above guideline. The documents that you have provided copies of do not contain any of the information that I have outlined above and cannot, therefore, be deemed as meeting the standard of care which you should have provided.

 

I reposed absolute trust in your ability as a financial institution to provide a reasonable level of care and skill in ensuring that my best interests were met when taking out a credit card with your organisation. This has not been the case and I am extremely shocked and disappointed. I feel that GE Money has taken advantage of my lack of knowledge and position as a student and am shocked that you continue to assert that PPI was fairly added to my credit card account as this is clearly not the case.

 

I request the return of (insert amount here plus interest) within 14 days of receipt of this letter by you. If you do not comply with my request, I will have no option but to escalate my complaint to the courts. I should remind you that the FOS take the issue of mis-selling of PPI extremely seriously and in many cases, have imposed large fines on financial institutions who are in breach of regulations.

 

Yours sincerely

 

 

Your name here

[Paintball]

DW, Good luck with whatever route you decide to go down. Keep us posted

[Paintball]

A student, with no fixed income? And they sold you PPI? Well, well they don't have a leg to stand on and how VERY naughty of them to add the PPI.

[Paintball]

Hey Car

 

It may be helpful/useful if you create a thread detailing the case for others to follow ...

[Paintball]

Good for you Car, you don't mess about, as usual.

 

I'm thinking that if you have a PPI claim that's coming to court stage, there are other would-be claimants on this Forum who would benefit from seeing how you proceed - if you have the time to summarise the process and your success.

 

Cheers P x

[Paintball]

Cheers Car