can i reclaim PPI if loans been defaulted?

want2bwealthy wrote: »

Hi everyone, I have been contacted by phone from a company claims direct, who said that they can reclaim my PPI for me. I explained to them that I have 2 loans with PPI that I believe were both missold however both loans are with the banks credit agenies as payments were missed I now pay a lesser amount. Can I still reclaim this money as its a small fortune, both loans total in excess of £17k, one of them with RBS I was paying around £100 per month for the insurance, when I started to struggle with payments I looked at the contract and couldnt believe my eyes, when I asked them if I could cancel the insurance I was told no - hence the defaults - because of this my credit score is tragic and I have no chance of getting out of this huge black hole!!!

Sorry for the rant, any advice would be most gratefully recieved x:o

Hi there, and please rant away, lol you will feel better for it.:D lol.

As far as I know you can still try to reclaim on the PPI if this was mis sold to you if in default.

You can also do this on here with no charge, as I understand these claims companies do charge and keep so much of your money, so be careful just in case.
We can help you through this, with the reclaim templates and information etc, take a look at this link below and if you think you would like to go this direction instead of using a claims company, please feel free to ask us to help you, it will only cost maybe a few stamps.;)
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

want2bwealthy wrote: »

Thanks, I'm going to send off the letter and see how it goes. The claims company take 33% of any settlement, i was prepared to accept that as I felt they would be doing all the work, what really got me worried was they wanted £150 up front before they would even send out the information pack.

Think I'll try these letters on here, and probably ask a million stupid questions on the forum - even if i get something back, as you say it'll cost me the price of a few stamps.

Hi hun and your welcome.;)

We will do all we can to help you through this.

On the link I posted on my above post also check that out, they have 8 weeks to respond in full, give your reasons on why you believe you were mis sold, there is a checklist of mis selling reasons in the link as well.

Keep at them until they resolve your complaint, or until they issue you with the final response, which should also enclose details of the financial ombudsman service (FOS), you can take your complaint to these if your not happy with the outcome of your complaint.

Post by recorded delivery for your proof of posting is best.

You can use the templates as shown on the link, or as a guide.

Hope this helps as well and please do post up for help, I am back and forth all the time lol and there are many others about as well to help you.

I am wary of these claims companies, especially if they charge upfront as well, your being wise doing this yourself.:T;)

Do you want to make a complaint about mis sell of PPI?.
If you do,we need to know if it is a Loan or Credit card,what year/s they were taken out,do you have any paperwork for these and more importantly,what would your reasons for mis sell be?.