Difference between PPP & PPI

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Gettingtherequickly
Gettingtherequickly Posts: 4,680 Forumite
Name Dropper First Anniversary First Post Debt-free and Proud!
in Reclaim PPI & other insurance
I have finally got around to looking at reclaiming PPI when I suddenly got a statement from British Credit Trust today which listed loan repayment & PPP. As the car was paid off a year ago, I was a bit surprised to get.

I was also paying PPI to them so was I paying twice? If so, I definitely did not agree to the PPP, was simply told what my repayment would be.

Any advice appreciated.
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  • di3004
    di3004 Posts: 42,579 Forumite
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    Gettingtherequickly wrote: »
    I have finally got around to looking at reclaiming PPI when I suddenly got a statement from British Credit Trust today which listed loan repayment & PPP. As the car was paid off a year ago, I was a bit surprised to get.

    I was also paying PPI to them so was I paying twice? If so, I definitely did not agree to the PPP, was simply told what my repayment would be.

    Any advice appreciated.

    Hi there

    Good luck on your reclaiming.

    I assumed that both PPI and PPP were more or less the same.....
    And stands for Payment Protection Insurance and the other:
    Payment Protection Premium.

    It maybe worth you contacting them to find out what you were paying for on both as well.;)
    The one and only "Dizzy Di" :D
  • Common_Sense_2
    Common_Sense_2 Posts: 415 Forumite
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    are you saying that you were sold a ppp policy at the dealership, and then you also took a PPI policy out with BCT?

    When did you take the loan out?
    We've spent decades teaching people about their rights, but nothing about their responsibilities.
  • robbedofmymoney
    robbedofmymoney Posts: 881 Forumite
    PPI Party Pooper
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    Gettingtherequickly wrote: »
    I have finally got around to looking at reclaiming PPI when I suddenly got a statement from British Credit Trust today which listed loan repayment & PPP. As the car was paid off a year ago, I was a bit surprised to get.

    I was also paying PPI to them so was I paying twice? If so, I definitely did not agree to the PPP, was simply told what my repayment would be.

    Any advice appreciated.


    is the PPP a much lower amount, if so it could be an insurance to cover the PPI payments if you had to make a claim, otherwise you would still need to pay the premiums,

    i know its great isn't it, an insurance to cover an insurance premium, but they really do exist.:eek::eek::eek:
    I'm proud to say that the banks no longer take money from me after becoming debt free
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