GE Money from 2004

[h8them]

You have six months after whatever company issues it's final response to take it to the Ombudsman

[michellej]

You have six months after whatever company issues it's final response to take it to the Ombudsman

 

Seems not to be the case ,.. can you please guide me to this in any regulations? as the below statement leads me to believe otherwise

 

You can contact the ombudsman direct once you have been through the normal complaints procedure.

There is a time limit for making the complaint. This is no later than a year from the date when you first became aware of the events which you are complaining about

[theotherside]

hi enoughisenough.what they said was with the £40 charges and added interest it comes to £1450 so what they have done is added that to the number of mths with got left to pay mortgage off which is about 13 and half years they added £8 something to our monthly payment to pay charges and interest off.but on top of that they told us we got intrest on top off £1450 which will be adding up but they already charge us intrest so haw the hell can they do that l am phoneing on friday to get it all in writing then we will se wer to go from there.

 

Hi

 

I think you may have got it confused a little bit!

 

You only have 1 amount of £1450 which would be the fees & added interest. As you say, you'll clear that over the remaining term at £8 a month as long as you dont fall further into arrears or incur anymore charges. There isnt another £1450:-)

[chrisb333]

Just an update on this.

 

The FOS have now decided to pursue the underwriters after 6 months of messing about with first Ocean finace, then GE!

 

Haven't even been given an adjudicator yet!

And now 2 different cases as both loans had different underwriters, Sterling Life and Cigna.

 

So if you are in the same position, ask the FOS if you can pursue the underwriters

[alanalana]

Just an update on this.

 

The FOS have now decided to pursue the underwriters after 6 months of messing about with first Ocean finace, then GE!

 

Haven't even been given an adjudicator yet!

And now 2 different cases as both loans had different underwriters, Sterling Life and Cigna.

 

So if you are in the same position, ask the FOS if you can pursue the underwriters

 

Spread the word with perhaps a new thread with a different title

 

Let All of CAG know this

 

aa

[chrisb333]

I have been trying to re-claim PPI from iGroup (now GEMoney) since 2005 all to no avail. They have given me and the FOS the complete run around.

"It's not us, it's Ocean Finance, or Albaster (now expired), or the Underwriters, etc, etc.

I am no nearer a solution than 5 years ago.

 

Anyway, it has occured to me that they didnt give me any rebate for the PPI (which totalled £2000) when I paid off the entire loan in 2005.

 

They are saying that I should have requested a rebate as per the policy document, but they never sent any document so I had no idea, I simply thought it was automatic. They also reckon that I have had the cover for 6 years since so wouldn't be allowed any rebate anyway.

 

What is the legal stance with this?

Surely the rebate should have been automatic?

 

Can anyone advise on this?

[BankFodder]

What do you mean by rebate?

 

 

Do you mean misselling?

 

When you say that they have given the FOS the runaround, what has happened?

[chrisb333]

Sorry, didnt explain very clearly did I?

 

Been trying to claim my PPI back from 2004.

I know I was mis-sold but GE Have simply said "we were the loan provider, it's the broker you should be omplaining about" so the Financial Ombudsman agreed.

We then complained to Ocean Finance but they weren't regaulated at time of loan, so now we are trying the underwriters, who have simply said, "no, it's GE who were at fault"!

 

So now I'm looking at if I can complain about the rebate that I should have had when we made an early repayment of the loan.

The PPI was for £2000 over 6 years but I only made 10 monthly payments before paying the whole amount off. No rebate of PPI was ever given back. GE are saying that I should have asked for a rebate according to the policy document, but I never received a policy document, and surely a rebate should be automatic anyway.

They are saying that I have had 6 years cover since, so I have had the benefit of cover all that time.

 

Any advice welcome

[ozzywizard]

From my understanding you should of been paid the rebate automatically. If you can prove you was missold you would be due back the full 2000 plus the interest from your 10 payments and you could also request 8% Stat interest.

 

It would be GE who you would make the claim from, when you say 2004, what month did you pay the loan off, their may be problems here with it being over 6 years and the statute of limitations,this would be a good efense from GE.

[BankFodder]

In what way was the PPI missold? Do you have evidence?

Have you got this in writing from the FOS?

Has the FOS agreed that it was missold?

What would be the value of the rebate.

What would be the value of the entire PPI?

Were Ocean Finance regulated at the time you paid the loan off?

Who is it that is saying you had 6 years cover? If the loan was paid off then there was no insurable interest - isn't that correct? or did the PPI cover something else other than the loan?

 

Have you got this 6 years cover thing in writing from whoever it is?

[chrisb333]

In what way was the PPI missold? Do you have evidence? yes

Have you got this in writing from the FOS? yes

Has the FOS agreed that it was missold? yes

What would be the value of the rebate. not sure

What would be the value of the entire PPI? £2150

Were Ocean Finance regulated at the time you paid the loan off? yes

Who is it that is saying you had 6 years cover? GE Money

If the loan was paid off then there was no insurable interest - isn't that correct? or did the PPI cover something else other than the loan? There was some life insurance involved also

 

Have you got this 6 years cover thing in writing from whoever it is? yes

 

Thanks, I didnt think about there being no insurable interest. The life insurance was only for me and not joint, whereas the PPI was joint. Hmmm.

[BankFodder]

email me on the admin address - admin@

 

let me have landline number

[chrisb333]

qucik update.

 

GE have wrote to offer to refund me but no mention of amount (yet to be worked out) and no mention of the 8% interest on the money fro the 4.5 years since this all happened.

 

They are sending me an offer in the post.

Should I still be looking for 8% per year since June 2005, or is that only when Ombudsman rule in your favour?

 

This is regarding the rebate of the insurance premium, not mis-selling

Edited February 24, 2010 by chrisb333
last line

[BankFodder]

If the money has been paid by you under a mistake then you are entitled to interest on it also.

They won't offer it to you voluntarily.

 

Now that they have said that they are going to make you an offer, wait and see what that offer is and whether it is conditional on full and final acceptance.

 

Come back here and let us know.

 

I asked you to contact me as I think that we may be able to help you on this but you have not responded

[supersleuth]

I dont work for them, i work for the CAB who has dealt with them and other companies.

 

They do have a local number you can ring that is available.

 

 

Goodness, this poster works for the CAB!!! - Having read the attitude of this poster to those suffering at the hand of extortion charges, please god, if ever I have to get advice from the CAB - please don't let this bank-lover be the one to give me advice. For sure the advice will be to my detriment! I wonder if others in the CAB also display the same attitude as this poster...

[HomerJSimpson]

Goodness, this poster works for the CAB!!! - Having read the attitude of this poster to those suffering at the hand of extortion charges, please god, if ever I have to get advice from the CAB - please don't let this bank-lover be the one to give me advice. For sure the advice will be to my detriment! I wonder if others in the CAB also display the same attitude as this poster...

 

 

Come on supersleuth, why would you want advice from CAB when you get the proper advice from CAG;)

 

I don't think our friend from the other side has ever had any personal dealings with those bar stew@rds from GE Money.

 

I have, and they are due a letter before action. POC being drafted as we speak. Hello Mr T Simpson, you obstructive @rse in the Contentious Litigation Department.:grin:

[supersleuth]

Come on supersleuth, why would you want advice from CAB when you get the proper advice from CAG;)

 

I don't think our friend from the other side has ever had any personal dealings with those bar stew@rds from GE Money.

 

I have, and they are due a letter before action. POC being drafted as we speak. Hello Mr T Simpson, you obstructive @rse in the Contentious Litigation Department.:grin:

 

Doh! Mr Simpson, how right you are!

 

You're right. I've never had much faith in the CAB anyway, but I know that a lot of people do trust them (sometimes rightly and sometime wrongly)

But, quite honestly, advice from 'theotherside', whilst accurately describing himself as being on the other side would still cause some people to misplace their trust in his 'advice'. And yes, you're right again, honest impartial advice from a large pool of decent independent balanced people who have real past experience of particular issues on this site is by far, the best source of good wholesome advice.

 

CAB eat your heart out on the other side!

 

Very best of luck with the litigation Homer...

[maybelline]

sad to say - I agree, the advice I have received from cab on a case CAG helped me to win would be that I would still be paying an ulawful agreement tens of thousands of pounds for a scrapped car worth about 1k tops - thanks again CAG and all those who give of their time tirelessly for genuine reasons.