GE Money from 2004

[chrisb333]

I would like to try and claim PPI back from GE Money but the ombudsman has said that when I took my loans out, the company wasnt part of the General Insurance Standards Council of the Financial Ombudsman service.

 

So where do I go now. I would have thought I had a even better case if the company wasnt part of the regulating body, but obviously I must be wrong.

 

Any advice would be most welcome

[pinknico]

Have you written to GE Money and what were your reasons for mis selling?

[chrisb333]

A couple of reasons.

They said they could get me a better rate if I took out the PPI

They also never told me I could cancel at any time.

They never asked if I had similar protection, which I did.

 

Probably more if I thought about it

[chrisb333]

Sorry, also, did write to them but they gave me the usual spin about I know what I was doing etc.

Denied any responsibility.

Also said they werent part of the insurance council so tough basically.

 

I paid over £2000 in non-needed PPI but I can't seem to get anywhrere against them

[pinknico]

Where was the loan taken out ?

[di0430]

Wonder if the FLA can help at all in this case?

 

I know not everyone has success through the FLA, but some have, so it maybe worth contacting them first just to see if they are able to help.

 

Here:

FLA :: Consumer finance :: Overview

 

The contact details should be on the site of the FLA.

 

Also just to make sure, was it GE that actually arranged this for you?

or was this arranged by another finance broker?

Some get confused on this so I thought I would just mention it, as it would be the ones who arranged this credit who you would have to write to, and then they may hae even been covered by GISC.

 

Good luck.

 

Di

[lilal]

also did you receive a full policy document from the underwriters .not just a schedule from ge.i tried the fla and found them a complete waste of time ,it,s beyond me how they can look out for joe public regarding misselling ,when the banks they represent pay to be members:mad:

[chrisb333]

The loan was taken out over the phone.

 

Didnt receive a full policy just a schedule.

 

Its really frustrating as no-one seems interested in helping me (apart from you guys that is)

Trying the FSCS now but they havnet even answered my first request.

 

Somebody on our site must know what I need to do?

[pinknico]

Have you sent an SAR and is there a tape/transcript of the phone call?

[lilal]

don,t be hard on yourself ,there is lots of info on here ,it just takes time to find that bit your,e looking for .

contact the insurance underwriter sar them .they should provide a copy (if it exists) of the policy and it,s t&C also state that you require details of when it was originally supposedly provided to you.i think before fsa took charge in 05 it was only down to the underwriters to provide this info ,since then it is joint responsibility to have to provide copies.

ok when you take out ppi you have 14days cooling off ,without a policy you would be unable to read through it to see if it was suitable.

contact ge again ask for a full refund stating why you believe they missold it only after you have contact with the insurers ( this may be your proof that a policy ever existed or was provided as stated in their own t&c,s within your schedule),until you have ge,s final response you cannot use the fla or court.

stick to your timescale

merry christmas

[chrisb333]

Ok, what I dont understand is the Financial Ombudsman says they can't help because they only deal with cases after 2004.

So how can we force any Company to hand over a refund if we havne't got anyones backing (such as FO)?

 

Is there any other organisation that will help for mis-selling before 05?

[pinknico]

In GE Moneys case its the FLA or Court.

[lilal]

if you use the fla and they decide with abritration and it goes against you you cannot use court.

build your case up and file at court.ge i doubt are not going to give you a refund unless you take them to court

[chrisb333]

Wonder if the FLA can help at all in this case?

 

I know not everyone has success through the FLA, but some have, so it maybe worth contacting them first just to see if they are able to help.

 

Here:

FLA :: Consumer finance :: Overview

 

The contact details should be on the site of the FLA.

 

Also just to make sure, was it GE that actually arranged this for you?

or was this arranged by another finance broker?

Some get confused on this so I thought I would just mention it, as it would be the ones who arranged this credit who you would have to write to, and then they may hae even been covered by GISC.

 

Good luck.

 

Di

 

Well, it was Ocean Finance that arranged the Loan but I always paid GE Money for the finance, so should I contact Ocean again. I did contact Ocean last year but they put me onto GE. And it was GE who rejected my claim

[pinknico]

Who did you speak to on the phone for the loan ,Ocean Finance?

[pinknico]

Was it ocean who said you would get a better rate with PPI?

[chrisb333]

Yes, definately Ocean

[pinknico]

Then Ocean mis sold you. What month in 2004?

[chrisb333]

September 04

[pinknico]

They(Ocean Finance)were authorised by the fsa on the 31/10/04. So you need to call the FOS to see if Ocean Finance covered by them in September 2004.

I would write to Ocean and say they sold you the PPI they mis sold it.

[chrisb333]

Yer, that sounds like my luck. They were authorised one month after I took the loan out, lots of laughs.

 

Hang on though. I took the 2nd loan out in 200 so does that mean I can claim on the 2nd one?

[chrisb333]

Sorry, should say 2005

[pinknico]

Yes (hurray!)who was that arranged with and did it top up another loan ?

Still check with FOS that Ocean Finance were not covered .

[chrisb333]

Yes, arranged through Ocean and it was a top up of previous loan.

Thanks again

[chrisb333]

So were the Financial Ombudsman wrong to refuse to help?

Shouldnt they have agreed to help with my 2nd loan PPI complaint?