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

[adamski]

Hi All

Just wanted to share my PPi Claims with you all.

 

I sent of PPi claims to GE Money, Welcome Finance, and Black Horse.

 

GE Money was store card, Welcome was a secured loan, Black Horse was for a unsecured loan.

 

Got standard letters back of all three, GE and Black Horse rejected my claims, i am stating misselling and also a pre exsiting medical condition.

 

Welcome with whom i had 2 loans with paid out on one after first letter just over a grand, but rejected the second, im confused as they are both on the same terms, they have all asked for documentary evidence, i assume that they mean proof of the medical condition, i have asked my wifes GP for a letter confiming this and am awaiting this document to send off to them.

 

Aftyer looking through statements i noticed that an old Lloyds TSB credit card now paid off, had PPI to sum of £40 per month, i did not even know i had any so a letter has gone off to them today.

 

Any thoughts or advice would be most welcome.

 

ps can anyone correct the spelling mistake in my title?

[doolally lady]

To rectify mistake click on the edit button.

[adamski]

wont let me change the title though only the body text

[adamski]

Hi to all who are interested

Got the doctors letter today so sent it off with another carefully worded set of letters.

 

I quite enjoyed writing them!

 

Will keep you all updated i am very confident

[doolally lady]

good luck

[adamski]

Hi

Just a question to anyone in the know really

IN GE Moneys reply to me they stated that because the store card that my wife had was taken out in 1998 that the FSA fine they recieved only relates to PPI soldafter 2005 when the FSAs ICOB regulations came into force is this true? anyone?

[adamski]

anyone know if the above is true please?

[adamski]

Hi

A question to those who know,do i have a good case of mis-selling due to a pre-exsisting medical condition on all the above the medical condition is epilepsy not only does this not cover the medical part of the PPi but also the unemployment as my wife would lose her car licence and would have to quit her job as she could not possibly travel to work as it (a) a 70 mile round trip with no buses or trains stopping within 20 miles of her workplace so it would be unecomincal to do so to get a train or bus and then a taxi would cost her more than she earns.

 

Any help please!

[Sparklez30]

Hi Adamski,

 

I'm affriad I can't help much as I don't know enough. I believe GE money are correct but you can still take them to court to refund your money.

 

The medical condition should give you a good claim for mis-selling especially if she wasn't asked about it when the policy was sold to her!

 

Hopefully someone wiser will pop along to give you more advice

[adamski]

She was never asked by Black Horse as she was not present they only asked if she had suffered from a medical condition in the last 24 months before the loan i told them yes but they still sold us the policy, GE never asked and have no documentation to prove otherwise.

[adamski]

Also is the documentary evidence they require the GPs letter proving she has illness or is just piffle to put people off because they know we wont have any?

[adamski]

I have just read this and it quotes soemone suffering from epilepsy.

BBC NEWS | Business | The UK's £5bn 'protection racket'

Any thoughts anyone please?

[adamski]

Anyone have any comments please!

[Sparklez30]

That article says it all really!

 

I don't know whether you have to supply a letter from the doctor but would think if you took the matter to court you would need proof of her illness so it is probably worth getting one from your doctor if you can as it can only make your case stronger anyway?

 

Hopefully someone better versed in these matters will be along soon to offer some advice!

[adamski]

Thanks for the reply i already have the doctors letter and have sent to all the above stating that the vast majority of the PPi was completely invalid, some of the above never asked and some did but still sold the policy to me, i wish someone would come along and give me some more advice, I think tonight i will read all i can to prepare myself for court action.

 

I have last week discovered that we were sold PPi on a First National loan AKA GE Money on loans totaling £65000 all of which has been paid in full my wife and I knew nothing about this until last week when we were told the policy had ended I am now starting to realise why we are so in debt.

 

I have sent of a letter requesting a refund including doctors proof of illness letter.

 

Any advice on how i can pursue this with more clout on the legal side would be most welcome.

[kennythecelt]

Hi,

 

I will have a check through this tomorrow and post back here.

Take care meantime and we will get you some proper advice.

 

Regards, Kenny

[adamski]

Great

Thanks for looking i look forward to some advice.

[adamski]

GOOD NEWS!!!!!

Got a letter from GE today saying they are refunding alll my wifes preimums plus 8% from 1998 becuase of her pre exsisting illness the account cover should never have been sold to us! so we have to pay back some to them as we owe them some money but a cheques is on the way!!!

 

Yeehaaaaaaa!!!!

 

 

 

I am so pleased with myself

[Sparklez30]

Well done - they caved quite easily then (and so they should too!!!).

 

Big Congratulations to you!!!

[adamski]

Yes they admit to mis-selling!!! due to pre exsisting illness i have another claim with them for a loan for £65,000 which has been paid in full so i expect more results soon, thanks for your interest and support Sparklez 30

 

All the best

 

A happy adamski

[Sparklez30]

No problem at all - shame I couldn't be of much assitance. Hope all goes well for your remaining claim and definately let us know how it goes

[kennythecelt]

Happy to hear this news Adamski! It looks as if the other policy with GE might be settled in a similar way, if so, thats great.

 

Sorry could not respond sooner Adamski, but other issues got in the way.

 

The following threads, which are outlined above, have plenty of information and templates which will take you through the process. Although, presumably if you have got this far, you have a good grasp of the issues:

 

FSA update on payment protection insurance (PPI)

 

help with PPI & Welcome

 

PPI - Some Notes for Claimants..

 

It is also good that they are adding 8%, that is obviously in recognition of mis selling, chances are this might happen to the other policy. However, was it a lump sum policy sold at the begining of the loan. If so, the 8% might not be worth as much as it first seems. When the policy was sold, it would have been added to the loan amount, with their interest added on top. That is a substantial amount. In adition to that, you have not had access or the use of your cash, which they have now admitted was mis sold. You could consider settling for a higher rate of interest on the refund ie at the rate of interest whih they had charged you on the loan, at whatever rate that was. Now is probably an ideal time to negotiate this, with the option of FOS as a fall back. However, the decision is yours and it depends on your individual circumstances.

 

Re the other policy, if things are more problematic, you have the option of the FOS, once you have gone through their complaints process. Approx 4 out of 5 legitimate claims are settled through intervention by the FOS.

 

What amount are they repaying?

 

Glad to hear your news and very well done!

 

Regards, Kenny:)

[adamski]

Thanks for your reply Kenny, yes i have things in hand i have previous experience from being a original bank charge pioneer!!! you may well have noticed.

 

So are you talking about contractual interest?

 

I will outline the amount from the letter i received i have no paranoia about GE reading threads it has no standing in court so i am willing to share ther details with you.

 

They have ben changed slightly just in case but only by a few pounds!

 

Premiums - £113.83

Interest - £ 117.43

 

Loss of Cash Payment - £128.43

 

Totals - £359.69

SO they have not only refunded the 8% but also a loss of cash premium!!

Your thoughts would be appreciated!

[kennythecelt]

Hi adamski

What stage are we at the reclaim of PPI, what have they actually repaid- sorry but I am not clear as to what has been repaid.

[lilal]

that,s good news adamski, always worth digging a bit deeper though ge would have charged interest on the ppi, as they would like you to know it as ppi ,but this would be an additional loan taken out to pay the underwriter .worth a look