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Another PPI Advice please
I took out a 7 year loan about 1.5 years ago from NatWest which included PPI. Is there anyway I can cancel the PPI and still carry on paying my regular payments hence pay the loan off earlier.
Any advice greatly appreciated.
Any advice greatly appreciated.
Debt at highest (November 2005) = £35,856
Debt currently (August 2006) = £20,790
&More £1,530, Egg £6,800, HSBC £3,760, Egg Loan £8,700
Interim goal = £23,400 (Target: February 2006, Missed but acheived May 2006)
2nd Interim Goal = £15,000, Target October 2006
Debt Free Date = February 2008 BUT I'M GOING TO BE TRYING FOR SOONER!!!
Debt currently (August 2006) = £20,790
&More £1,530, Egg £6,800, HSBC £3,760, Egg Loan £8,700
Interim goal = £23,400 (Target: February 2006, Missed but acheived May 2006)
2nd Interim Goal = £15,000, Target October 2006
Debt Free Date = February 2008 BUT I'M GOING TO BE TRYING FOR SOONER!!!
0
Comments
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You need to check the contract you signed for the loan. If the PPI is part of that contract you may be stuck with it.0
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thanks for that but I cant find a copy of the agreement. I think I have misplaced it somewhere.
Any suggestion?
Also I have a funny feeling that it was part of the agreement, I was desperate then!!! Is there any work around?
I borrowed £25k and have paid £7200 (18 * £400) already.Debt at highest (November 2005) = £35,856
Debt currently (August 2006) = £20,790
&More £1,530, Egg £6,800, HSBC £3,760, Egg Loan £8,700
Interim goal = £23,400 (Target: February 2006, Missed but acheived May 2006)
2nd Interim Goal = £15,000, Target October 2006
Debt Free Date = February 2008 BUT I'M GOING TO BE TRYING FOR SOONER!!!0 -
You will need to ask the loan company for a copy of the agreement you signed. Whlst talking to them, ask them if the PPI is compulsory or not.
If it is compulsory, ask them what the options are, if any, for ditching the PPI.
Find out also what early repayment penalties there may be on the loan itself and then maybe shop around for another loan without PPI but with a better interest rate to pay off the first one.0
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