Cancelling PPI CAN BE DONE!!!!!

Avogirly

asquiths wrote:

I do believe we were totally mis sold our ppi we weren't even given a monthly amount for the loan on its own the lady just said "it'll be £475.00 per month and you'll be covered incase of job loss etc. we just thought this was all part of the loan luckily we've only paid 10months so far of a 7 year loan. If i hadn't found this site and looked at our loan agreement then i would still be paying for this obliviously, but thanks to you all i've sent a letter to the bank and got a reply telling me they are looking into it. (i might have been naive once but this site has deffinately changed that!! look out yorkshire bank!!!)

thanks to all you people who advise and support!! xxxxxxxxxxxxxxxxxx

Well done! It really makes the difference! :T :T :T :T

Kzlnd

I took out a Halifax loan with PPI because I got some right abuse from the lady on the other end of the phone (Why I didn't just hang up, goodness knows. Usually I am very confident at saying no to this sort of thing but she was very aggressive.) anyway, I asked if I could cancel the PPI at any time, she said yes.. Which subsequently turned out to be a lie pretty much.

A week later after everything was sorted and I had the cash, I checkedover the forms and realised just how much PPI was going to cost me so I called Halifax up to say I no longer wanted the PPI and how should I go about cancelling this.. I was told I couldn't just cancel but in fact had to pay off the loan an take out a new one.

Which like an idiot, I did, only for the APR rate to shoot up by 3.5% plus I had to take out extra money to pay off the intrest on the first loan..

I messed up bad on that one.
Now I'm thinking of finding another loan that I can use to clear the halifax one that has less interest.. Would rather pay someone else interest than the buggers halifax.



Well done you lot on getting it removed!! :T

regularsaver1

Hi
I agree that mis-selling takes place - and if someone doesn't work, they are not even eligible in the first place - and are proper afforadbility checks done.
What I was saying before is, some people obviously do say yes to it and then change their mind too - thats not really mis-selling is it (well depending on individual case).
But its good news that those of you who were mis-sold got their funds back.

I remember seeing a TV programme on Lloyds TSB and their selling practices - the pressure on the staff to put ppi on loans.

rockape_2

hi guys, just tried to cancel my loan ppi with nationwide, they put me through to customer services where i explained the situation (armed forces, don't need ppi, never have done, totally mis-sold as i was led to believe that i could only have the loan if i took up ppi) . they are due to ring me tomorrow to discuss my refund options and recalculated loan figure. so, thanks to all who share this kind of information and giving people like me the opportunity to reduce debt!!

Avogirly

rockape wrote:

hi guys, just tried to cancel my loan ppi with nationwide, they put me through to customer services where i explained the situation (armed forces, don't need ppi, never have done, totally mis-sold as i was led to believe that i could only have the loan if i took up ppi) . they are due to ring me tomorrow to discuss my refund options and recalculated loan figure. so, thanks to all who share this kind of information and giving people like me the opportunity to reduce debt!!

Well done!

Good luck on your debtfreeness journey!

nmiah786

nmiah786 wrote:

Congrats and well done on your acheivement.

Please can I have a copy of your letter so that I can corner NatWest into taking the PPI of on my loan.

Thank you ever so much in advance.

Did this for my brother's Loan with NatWest. He received a letter today saying that the PPI has been cancelled and the loan amount has reduced from £370 to £310 per month. However, they did not mentioned anything about the refund of PPI already paid. So wrote and sent another letter off, lets see what that does.

Thank you for letting us know that its possible and giving us the motivation Avogirly

Will keep you posted.

rockape_2

just an update for you guys, nationwide were very helpful and have now sent me a cheque for £1000 for my ppi. so thankyou again! :T you guys are the best :j

Old_iron_balls

rockape wrote:

just an update for you guys, nationwide were very helpful and have now sent me a cheque for £1000 for my ppi. so thankyou again! :T you guys are the best :j

Happy days - nice one :beer:

Quincifer

Hey, i heard back about cancelling my PPI the other day. I know i only have a small loan left to pay but they cancelled it straight away so I now only have to pay £39 per month instead of £43. I have 19 months left so thats a saving of £76 in total! It isnt anywhere near as much as anyone else but not bad for a £1000 loan! Thankyou everyone, every penny counts!

Old_iron_balls

it all adds up - well done !