PPI with The Money Group refused refund

[jdene]

had forms back from FOS have to fill in seperate form for each policy but they dont seem interested in the life insurance thats was forced onto us only the PPI surly insurance is insurance whatever title they put it under.

jdene

[dx100uk]

still fos

 

dx

[jdene]

Will the FOS actually look at the life insurance as well or will I have to go and issue a seperate claim for that

 

jdene

[dx100uk]

they do yes

 

dx

[jdene]

Thanks DX much appreciated

 

jdene

[jdene]

Ok found out the details of the offer from GE Money

 

it relates to the mortgage that the PPI was attached to,

 

they say that the £168.85 relates to an over payment of interest at the time, because i had arranged to make my payments earlier in the month.

 

The mortgage was paid off in full back in 2005,

 

so they have held onto this untill now when I have raised the PPI issue,

 

this seems like to much of a coincidence to me,

 

will they owe me interest on this payment back to when the account was closed do you think,

 

because they are very eager to pay me up out of the way.

 

regards

jdene

[dx100uk]

if they have withheld money from you yes - 8% stat int.

 

dx

[jdene]

Thank you DX I will try to work out how much it comes to and get letter off to them today.

jdene

[jdene]

DX sorry to be a pain but just reading another thred and came across this comment :

 

As the lender was the same company who did the remortgage you should bear in mind that the amount you had to borrow on the second loan

would have been higher than would hav ebeen the case had the PPI not been applied to the first one.

 

As a result you were effectively paying for loan 1 PPI through loan 2.

 

Would this be relevant to my PPI claim as when we remortgaged,

we had to borrow enough to clear the first mortgage including the PPI,

which naturally increased the interest on the overall mortgage and the monthly payments.

 

jdene

[dx100uk]

yes ithough you already knew that

 

no.1. below refers

 

dx

[jdene]

Again sorry DX never crossed my mind, but thank you for all your help, would be lost without this forum.

jdene

[jdene]

Have just put the following letter together for GE Money see if they respond sensibly, could anyone please give me an idea if this is ok.

 

Account Review Team

GE Money Home Lending

Building 4

Hatters Lane

Watford

WD18 8YF

Date: 16 March 20013

Acc Number:

Re: Offer letter

Dear Sir / Madam

Further tomy earlier letter of the 04/03/2013, and our telephone conversation on Thursday14/03/2013 I wish to notify you that the refund you have offered for an overpayment of interest on my closed account, has not included the statutory 8%interest which would be expected on payments of this kind, making the figureowed to me at least £303.74.

I havefurther to inform you that, by making the error on the interest you have alsocaused me to have to borrow the £168.85 amount extra to clear the mortgage,which has itself incurred interest at 8.5% over the full term of theremortgage, which gives a further figure of £331 to be added Giving a total of£634.74

With theabove issues in mind and with your clear acceptance that the error is with yourselvesI believe the higher figure should be a minimum offer to fully and fairlycompensate me for the extra costs I have had to incur.

I lookforward to your agreement on this matter and the quick and mutually agreedresolution to the matter.

I haveincluded my bank account details to enable you to make an instant transfer tomy account.

Regards

jdene

[jdene]

Well letter gone off, I still think they are trying to get me to accept this money as some sort of settlement for the PPI I am claiming on the same mortgage but with the money group.

jdene

[jdene]

Hello all again, how long do the FOS normally take to come back with a decision as to whether you have a case or not in thier opinion,

had an e mail to confirm they have recieved everything a few weeks ago but nothing since.

 

Thank you in anticipation of your reply.

Regards

jdene

[dx100uk]

sadly several months

 

dx

[jdene]

That what I was afraid of but never mind been waiting a long time already a few more months wont hurt, and I recieved a reply from GE Money only the standard we are looking into your complaint and will respond within 8 weeks etc. etc.

[jdene]

still nothing from The FOS im thinking of writing this claim into my will so at least the kids may get it back lol

[chrscmbs]

Hello Jdene,

 

I have Just been reading your whole thread, not a million miles away from our own situation at the moment and I think your absolutely fantastic for fighting these people with a passion... I have my fingers crossed for you and will keep checking your thread.

 

I have just started my own PPI thread in this section (please have a read) in relation to taking out a mortgage through "the mortgage group" via their preferred lender at the time "igroup", then we re-mortgaged after they approached us to do so 19 months later under their new name/banner of "GE" who "igroup" belong to and I will no doubt be going head to head with "the mortgage group" or "the money group" as they are called now.

 

Chris.

chrscmbs

[jdene]

Still no news from FOS except another form for the life insurance claim as they have to be seperate,

so guess I still got a few months left to wait before anything worth while happens, s

 

i have decided to re-start my fight against Welcome Finance over thier secret commissions

I have the underwriter sheet so all the proof I need and they withdrew from a court case they instigated against me as soon as I disclosed I had the sheet lol,

so already got them on the run but the FOS refused to help me with it, so will try the FSA then on me own if I have to.

[jdene]

The money group have replyed to the FOS that the limitations act only allows an extension of 3 years from the date the policy ended does anyone know about this ?

 

 

any advice would help I have to try and proove to the FOS that I did raise a complaint before the 3 years were up

 

Regards

[dx100uk]

no that's not true

 

IF the Original Creditor SENDS YOU a letter alerting YOU to the POSSIBILITY of PPI

 

THEN you have 3yrs to claim.

 

to say the 3yrs starts from when you could have reasonably already been aware

other than by a letter from THEM, is bunkum.

 

dx

[jdene]

DX 100uk thank you so much Page 3 puts it clear as day for them the FOS shouldnt be able to deny thier help now.

 

Regards

jdene