********GE Capital Fined....please read*********

[mrsfoot]

GE Cap have been fined by FSA for failing to have adequate systems and controls for selling PPI. This is a must read if you have had insurance with them!

 

FSA fines GE Capital Bank

[steven4064]

Now if we just get the ICO to fine them for not having adequate systems in place to be able to supplyus with statements....

 

Steven

 

If this post is helpful, please click the scales

[Russjo]

Having read through this, I'm a little confused. My husband had PPI on his credit card and I've just recently sent them a letter cancelling it because I didn't feel that we needed it. The day after I sent it, he received a letter (which must have crossed in the post) to say that they had reviewed their PPI and they were no longer charging for this service. Are we in a position to claim back this money, because I don't think we ever needed it??

[mrsfoot]

I would say yes you have a claim for reclaiming the PPI already paid to them as long as you have made no claim on the policy.

I would imagine at the minute they will pay up and shut up for a little while so have a go!

[Russjo]

Thanks MrsFoot. How would you suggest I do this? I have all the statements since the card was first activated. Do you have any letters that I could use as a guide??

[joemarket]

Can anyone please help!

I took up a £20,000 secured loan with Blackhorse Finance in 2005. I was also sold a PPI even though I had made it clear I did not need the insurance protection. Anyway, I had 30 days to cancel if I wanted he adviced me. Couple of weeks into my secured loan I sent a letter to Blackhorse Finance to cancel the PPI. This was followed by a phone call to my "Account Manager" who confimed the receipt of my mailed - my account will be adjusted he promised. I made two payments (including PPI installments but refused to make further payment as no adjustment had been made to my monthly instalment. As a result I received a defualt order and a threat to lose my house if payment was not received. Made full loan payment in January 2007 including PPI. Can I still reclaim my money? How please help!

[mrsfoot]

Hi, both of you have a look at this thread...PPI not my area of expertise I am afraid http://www.consumeractiongroup.co.uk/forum/ppi/

 

Joe I would suggest you write to the company again and request the PPi to be cancelled with immediate effect. Imform them you had made this request on XX/XX/XX (fill in the date) and that the request has not been activated although it was sent within the time scale allotted. If you have proof of them receiving the letter send a copy of this (hopefully it was sent recorded delivery)

 

Russjo i would imagine the letters you will need are to be found in the link....if not there wil be others more knowledgeable than me in there so post a thread and ask the question. Ill pop along and have a look myself as I should really understand it myself.

 

Good luck and ill catch up with your threads