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Joshua
Joshua, Lawyer
Category: UK Law
Satisfied Customers: 26069
Experience:  LL.B (Hons), Higher Prof. Dip. Law & Practice
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I was sold a loan and associated PPI with GE Money in 2006.

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I was sold a loan and associated PPI with GE Money in 2006. However, I signed the documentation with the company selling me the product I needed the loan for (timeshare) in Spain.
On return to the UK, I refinanced the loan within a month.
I now find that part of the repayment was £660 for PPI, which I did not want, need or use. GE tell me that I can't claim back PPI sold abroad.
I have successfully claimed for PPI sold in the UK on other credit commitments but do not understand how a contract with GE which states is governed by the law of England and Wales, sold on their behalf by a broker, does not allow for reclaim of the PPI. Please advise.

Joshua :

Thanks for your question. Please kindly RATE my answer when you are satisfied

Joshua :

Can you confirm precisely who the contract with associated PPI is with please - I note it is with GE Money - but where does the contract declare they are based? Is it the UK or another country?

Joshua :

Is there reference on the contract to being regulated by the Financial Services Authority or anything of that nature? You mention that the contract is declared to be subject to the laws of England and Wales?

Customer:

Hi Joshua, the contract is with GE Money of Harlow, Middx and it talks about the FSA, right to cancel, contract subject to English law in the contract documents.

Joshua :

Thanks. On that basis there is no reason that PPI cannot be challenged in the normal way. If the contract is subject to UK law and regulation then that it concerned overseas property abroad is of no consequence and the same UK principles established for misselling of PPI will be applied.

Joshua :

This would appear to be an attempt by GE Money to dissuade you from pursuing your claim. You will wish to consider raising a complaint and then if necessary referring the matter on to the Financial Ombudsman in the usual way.

Joshua :

The Ombudsman are competent to deal with the matter on the basis that the contract is a regulated credit contract

Joshua :

Is there anything above I can clarify for you?

Customer:

Thank you, XXXXX XXXXX assume that I follow the standard procedure for reclaiming and make my case, in the first instance, by letter to GE Money.

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