PPi against GE Money - broker in administration

[susanm]

Apologies if this has been asked and answered previously ( i have searched).

I had a loan from GE Money with PPI, i wrote the 1st letter claiming miss-selling and they have replied, that the broker is resopnsible. The broker is Karcus ltd who they state is in administration. GE state that i should contact the administrators or the financial services compensation schemes. Is thsi correct?

[bigphil61]

Hi Susanm, who did you make your monthly payments too for the loan and did these payments include the PPI element? Did you include a FOS questionaire with your letter and a SOC? BP

[susanm]

The ppi payments were added onto the ge loan and there was one total payment every month.

I did include the fos questionairre with the initial letter.

Edited September 3, 2012 by susanm
typing error

[bigphil61]

If your loan agreement paperwork shows both the loan amount and the PPI amount are payable to GE Money, then I would say your target is GE Money! Personally I would write to GE Money again and tell them that they are responsibe as they took the PPI payments! BP

[susanm]

should i just write to GE stating they are responsible as the payments were made directly to them or because the loan is regulated and therefore they are respnsible for the brokers actions as they were their agents?

[bigphil61]

Yes, personally I would write back to GE and state that you made the payments to them and that they are responsible. I would also include another copy of the FOS questionaire, a copy of your schedule of charges and your original letter, I would also send it signed for/recorded delivery. How long ago was your last payment on this loan? BP

[susanm]

I am not 100% but i think the loan was settled early about 4/5 years ago.

[bigphil61]

Send them the letter for now, lets see how they respond!

[susanm]

Apologies, this loan was actually brokered by Freedomn finance, although GE have stated the broker is Karcus Ltd. I have sent the letter to GE,. Should i have really approached Freedom Finance initially.