Ppi Claim

[Tilly2]

Has anyone encountered this situation?

We put in a PPI claim, before the deadline, to GMAC. UK who provided loans for us for our new Vauxhall cars from the 1980's onwards.
The response from GMAC, now Vauxhall Finance, is that they didn't sell PPI but the dealerships might have done. They suggest going back to the dealership and claiming from them. The dealership at the still existing garage has changed over the years and is now Evans Halshaw. We can't remember the names of the various dealerships over the years and I suppose they would be irrelevant anyway.

How can the 'loan company' not be responsible for the PPI charges? Was it indeed the shenanigans of the dealership themselves?

[Hopkirk]

Too late to make a new claim now anyway.

[Tilly2]

It won't be a new claim, Hopkirk. We submitted the claim to GMAC before the closing date. They just haven't done anything about it.

[Hopkirk]

Surely if GMAC didn't sell you ppi but someone else did, that would be a fresh claim?

[Tilly2]

Well, Hoppy, I don't understand how the loan company can not be responsible for a PPI being sold. They would be the ones to lose out, should there be a default in payments.

[Bazile]

Are they telling porkies that they didn't sell PPI?

[Tilly2]

They definitely said that they, as the finance company, did not sell PPI. They say it was down to the dealership.

[Buenchico]

Nobody has ever been entitled to receive compensation simply because they took out PPI. They are (or, more accurately now in most cases, 'were') only entitled to receive compensation if they'd been wrongly advised to take it out. (e.g. if they were self-employed and the person promoting the product omitted to tell them that the weren't covered for loss of employment).

So any compensation that might have been due would have to come from the firm employing the salesperson (who was undoubtedly seeking to maximise his/her commission) and not directly from the firm actually providing the PPI.

So it would have been the dealership who were responsible for compensating you (if you could actually show that the PPI had been mis-sold). If that firm is still in existence (even under a different name or as part of a larger concern) you can no longer submit a valid PPI claim as the deadline for doing so has now passed.

However if the firm has gone bust (so that you couldn't/can't claim directly against them) you can still seek compensation from the Financial Services Compensation Scheme. (The PPI deadline doesn't apply to such claims). If they went bust before 1 January 2010 you're entitled to 100% of what you paid them up to a limit of £2000 and then 90% of anything else. If they went bust at a later date you're entitled to 90% of your claim.

Relevant links:
https://forums.moneysavingexpert.com/showthread.php?t=2142913
and
https://www.fscs.org.uk/what-we-cover/

[Tilly2]

Thanks for the links Buen. I'll have a close look at those.

[chrissa1]

Have you submitted your case to the Financial Ombudsman?

[Tilly2]

No Chrissa, not yet, but I shall.