ge money and pinnacle insurance

[corrinasmum]

Hello Alll
Very new to forums and how they work so please bare with me. Have been trying to reclaim ppi form ge money. we took out a loan in Feb 2003 for £40000 the ppi was added so we had a loan for over £46000 we were told if we didnt take this out we wouldnt get the money. Anyway, today received this letter
"Base on the information you have provided any complaint you may have concerning the sale of your ppi policy is time barred under the Limitation Act 1980
Please also note that ge money home lending companies were not at any time members of GISC which at the time administered a voluntary code only applicable to GISC members
This letter is our final response on this matter. However, you can contack the FLA about the complaint within six months from the date of this letter.A copy of our com.plaints etc"
Rang the FSO before i received this letter and they said I should make a complaint to the underwriters, Pinnacle, and have sent me the forms.
Please help, dont know where to go from here, and would really appreciate any help or advise anyone can give.
The loan has now been paid in full.

[di30]

Re: ge money and pinnacle insurance

Hello Alll
Very new to forums and how they work so please bare with me. Have been trying to reclaim ppi form ge money. we took out a loan in Feb 2003 for £40000 the ppi was added so we had a loan for over £46000 we were told if we didnt take this out we wouldnt get the money. Anyway, today received this letter
"Base on the information you have provided any complaint you may have concerning the sale of your ppi policy is time barred under the Limitation Act 1980
Please also note that ge money home lending companies were not at any time members of GISC which at the time administered a voluntary code only applicable to GISC members
This letter is our final response on this matter. However, you can contack the FLA about the complaint within six months from the date of this letter.A copy of our com.plaints etc"
Rang the FSO before i received this letter and they said I should make a complaint to the underwriters, Pinnacle, and have sent me the forms.
Please help, dont know where to go from here, and would really appreciate any help or advise anyone can give.
The loan has now been paid in full.

Hello and welcome to Legal Beagles

It's so unfortunate when that happens and they always seem to fob off more so if the business that sold the account/insurance were not regulated by FSA prior to these GISC.
You could try contacting the FLA but going by many other's experiences of these they are not that helpful at all, but no harm in ringing them to rule them out.

The FOS generally suggests the underwriter/insurer avenue as another avenue to take in trying to get your money back to you, I am aware a few have been successful although it can prove difficult as such.

But what you do now is, as you already know who the insurers/underwriters are (Pinnacle were regulated so you would be fine there - if you had to complain to the FOS), you pursue them, and if this fails, complain to the FOS.

The FOS will check what direct involvement Pinnacle had with your policy, and the relationships of all parties involved.

So if you want to ring the FLA first, that is up to you, but otherwise continue with your reclaim via Pinnacle.

Good luck and please keep us posted and ask for help from here if required.

[corrinasmum]

Re: ge money and pinnacle insurance

Hello Dizzy Di and everyone else. This is an update on the thread I posted last year. Will try to keep it short. After taking my complaint to the FOS, they decided to take on the case with Pinnacle Insurance. That was last November and they warned me it could take up to a year or more to investigate. They sent me a letter of update in April just to let me know they were still investigating. I then got a standard letter from GE Money in June informing me they were sorry I had cause to complain and they would be looking into this and would let me know within 8 weeks. Baring in mind I had not contacted GE Money at all. Well, imagine my surprise last Wednesday when I received a letter from GE Money saying they believed I did know what I was signing and I could afford the ppi, but on this occasion they would uphold the complaint and have offered me £15.450.00..........there is lots of legal stuff in this letter also, which I don't understand really.....now this is an awful lot of money....and Im not greedy, but if you calculate what they really owe me its more nearer £20.000.....I have 28 days to reply to them......Please help xxx:tinysmile_hmm_t2:

[corrinasmum]

Re: ge money and pinnacle insurance

Thank you .....you guys are awesome xxx

[di30]

Re: ge money and pinnacle insurance

Thank you .....you guys are awesome xxx

Well done to you! x


I also just posted on your other thread, if you any calculations, or breakdown of what you paid of the PPI, please could you post them up when you have a few spare mins, so one of us folks will take a look at them for you.

Also the fact that the FOS dealt with it, they will also check the calculations on request, or if they notice anything amiss, they will usually contact the business and raise this matter. x