PPI on a £25K Loan?

You must have good grounds for proving you were mis-sold the Insurance. We were pressured into it, adding about £3000 to a £17000 loan. We were told it would probably not go through without the PPI! It is amazing how people will lie to get commission/ hit targets!

I asked for a refund early into the loan and was flatly refused. When I finally realised I was heading for disaster I got in contact with the CCCS, and went into a DMP.

I think it is disgraceful that they can take this money and not refund it if you change your mind. I was dreadfully unhappy so I wrote to the bank, complaining about the manner in which the Insurance was sold, and other issues. My complaint was upheld, but not regarding the insurance, my main gripe. The bank stated 'you signed for the insurance, the terms were on the form.. blah...blah'. I did however obtain a refund for the other issues so good luck.

You also will have to be persistent, they will give you the run around. I read up on the net, read the Banking Code, that is useful, and ultimately after several tries and no response, I was able to use the services of the Financial Ombudsman. They were superb. The matter was dealt with in two weeks, from my start of the complaint 12mths earlier. I got a decent result in the end.

Good luck and don't get fobbed off, I felt like giving up but am glad I didn't.