GE Money PPI

[tjperfick]

As suggested, new thread as the other one was getting a bit confusing.
Gone a bit PPI reclaim mad over the last few months, some success's and some not so successful (see my other thread)
However had loan in 2001 with GE money £5K over 5 years. At the time, I was on maternity leave and my OH self employed. The application was made over the phone. Found out before xmas that we had paid ppi on it and I rang up to make a complaint.
However they have dismissed it. They have stated
" We are rejecting your complaint without considering its merits because:
1) The event that you are complaining about occurred on 2 January 2002, being more than six years ago, and
2) Our standard sequence of communication over the term of the policy incloudes both cancellation and term expiry letters. We wrote to you on December 4 2006 confirming that the insurance was due to expire and the consequences of not having adequate cover in place. These letters made you aware of the insurance which you have now raised a complaint.

This follwos them saying that they can reject a complaint if the event took place more than 6 years ago or if later , more than 3 years has passed since I knew or should have known that I has a reason to copmplain.

I know that someone mentioned in the other thread re complaining since ppi misselling has come to light, but who should I be complaining to (GE money have said that this is their final response)
Shouls I go the underwriter route, CEO or the FOS?

thanks

[di30]

Re: GE Money PPI

Hiya

Have they given you any indication of who you can take this further with?

Can you recall on receiving that letter in 2006?

If they were not FSA regulated at the time you taken out the policy, then the other option would be the underwriter/insurer, the business whom rejected your complaint will provide you details of them on request, you are entitled to know who they are.

Did you make it clear that you have "only recently became aware of the misseling of the PPI" and had no idea about this matter raised 3 years ago which is why you have made the complaint now, or you would have raised this up years earlier.

However another option you could try is the CEO before the underwriter and raise this matter up with them, and enclose details of your complaint and of the rejection letter of which you are not satisified, especially as they have stated the timescales that you do not agree with, so asking for a review of this complaint by the CEO by 14 days, also ask at the same time of the details of the underwriter/insurer.

[tjperfick]

Re: GE Money PPI

don't suppose you know who the CEO or the underwriter is?
I do not remember receiving anything about this and can honestly say I have only in the last 6 months became aware of the fact that I had all these policies. When all hype started about the mis selling scandel, some of the cards/loans etc I had had, I had paid off and fininshed with them so did not see on statements etc.
They have said that I can take this up with the FOS, but I know that they have got quite a backlog and have only become aware (through this forum) of the fact that it is possible to go to underwriters and indeed the CEO of these businesses.

[di30]

Re: GE Money PPI

Hiya

Its good you do have that opportunity to go to the FOS, but like you said they do have a back-log, however if any hardship, health circumstances etc, you are in your right to request for fast track.

Maybe worth a shot with the CEO first and give them say 14 days or 21 days deadline, but no longer than that, as you will have 6 months to complain to the FOS from the date on the final decision letter.
I take it they have confirmed its final and enclosed a leaflet of the FOS, even though they have stated your able to complain to the FOS?
They MUST also enclose the leaflet (FOS) in the final decision.

I have these here for GE Home money lending, this is the CEO/Chief Executive Officer
bernard.vanbunnik@ge.com

And another here:GE UK
mark.elborne@ge.com

Maybe send to both or one at a time but you do not want any time wasted, so will leave that for you to decide, but either should deal with these matters.
What they usually do is (not directly deal with you) but he will get it passed to a team to get it sorted, so if he believes it should be overturned, he will instuct his team to do so.

Hope this helps, stay strong x

[tjperfick]

Re: GE Money PPI

Right, think I will go down ths route first, by the way yes they did send the leaflet to go to the FOS - deadline date of 17th JUne, so a bit of time yet.
Any ideas of what to put in the letter/email to them, it's not really the same as the Genworth one is it?

[di30]

Re: GE Money PPI

Right, think I will go down ths route first, by the way yes they did send the leaflet to go to the FOS - deadline date of 17th JUne, so a bit of time yet.
Any ideas of what to put in the letter/email to them, it's not really the same as the Genworth one is it?

Okey dokey.
No the Underwriter is usually recommended by the FOS if for example, the business you originally complained to were not regulated by the FSA at the time of when you taken out your policy, so I assume your's must have been regulated in order for GE to direct you to the FOS in order for them to review and investigate.
So if this is the case, if it now also fails with the CEO, I would then go to the FOS, hopefully the CEO will get this overturned for you.

Basically, when you email the CEO, you enclose a copy of your complaint if you still have this, or otherwise state your reasons for why you put in a complaint, and the copy of the rejection letter.
You then go on to say you are giving them the opportunity to have a final review on the matter, before making the decision to take your complaint to the FOS.
You say in regards of the rejection letter from his complaints team that you are most disappointed to have had your PPI complaint rejected by a well known respectable company, and you feel badly let down as you provided them with a genuine complaint, as you are aware you had reasons to raise this upon them to request for a refund, say you will appreciate having this matter reviewed for one final time and to come back with a decision by 14 days.

(Add any further info), you need to state your disappointment and felt it was important to raise this with them (CEO), you also need to clarify that you have only recently became of the mis selling scandal which made you check paperwork you still held, and your not happy with also being informed that you should have raised this up with them over 3 years ago. You do not find this is fair is its only recently you had learnt of this scandal....

Hope this gives you an idea, let me know

[tjperfick]

Re: GE Money PPI

Are there any templates about for this sort of letter, I am not that great at writing from scratch!!
Your Genworth letter and other that I have sen sound much more official than what I could come up with!
cheers xx

[di30]

Re: GE Money PPI

I shall come back to this later if that's okay? See what I can do on the wording for you It will differ to the Genworth letter as that one is directly to the underwriter, but we shall have a look. xx

[tjperfick]

Re: GE Money PPI

Thanks Di
xx

[di30]

Re: GE Money PPI

I havent forgotten about you lol, I shall be back later on. Next Door Neighbour's huge trampoline ended up in our garden this morning due to the bad windy weather, so we are doing a bit of tidying up lol, so catch you later hun x

[tjperfick]

Re: GE Money PPI

Not a problem ,we lost some tiles this week due to the storm on Wednesday. Not a hurry - I'm still in a bit of a daze from this morning anyway

[ken100464]

Re: GE Money PPI

Enjoy the daze tjperfick.

These things take time so a day dont matter. Moments like this morning come along not so often

[tjperfick]

Re: GE Money PPI

to true ken, too true!!
I am enjoying the moment, but hate to say I am a bit confused as to how they have worked it out. The workings seem different from my CC one last year and I worked out from the SAR that I had paid £3155.89 (2007 - 2010) they have got premiums of £8215.12 from1993 until 2010.
And the other is ££3165.25 (2008 - 2014) and they have refunded me £5932.45 from 1998 to 2014.
Also the CC had premiums refunded , then interest charged on premiums ad then 8% simple interest.Then a tax deduction of 20% on stat compensation which I get.
The catalogues are giving me back interest of £668.59 and £2168.79 (it says interest equals 26.4% of premiums and covers APR charges, plus interest if I wuld have been in credit) There is no tax deduction

Whilst I am over the moon,do these workings seem correct. I appreciate that they may not have all statements available right back to 1993 & 1998, but do I query any of it.I feel so greedy thinking like this.
I would appreciate your thoughts.
Cheers
ps Drinks on me tonight lol.

[ken100464]

Re: GE Money PPI

Not greedy at all.

And from my experience to date always worth checking if you can. And to do that you need to ask the business for the figures they have used.

So can I get this right you are saying the Catologue has refunded £8215.12 premiums, £668.59 interest and £2168.79 Stat Interest?

Or do I have it wrong. All claims are different because they follow different events so one looking very different from another may have nothing in it.

Again perhaps to keep this clear from you GE Money claim this needs to go onto your other thread.

[tjperfick]

Re: GE Money PPI

how can I move the last 2 posts to my other thread?
Also there is no stat interest it is just classed as interest. I had 2 different letters with the offers on, 1 for each on the 2 catalogues.
Confusing isn't it.