Cancelling PPI CAN BE DONE!!!!!

Old_iron_balls

asquiths wrote:

thanks old iron balls just needed someone to fire me up for round 2 so here goes. will keep you all up to date with the outcome!!!!
thanks again xxxxx

your welcome - good luck !

davilown

sammy115 wrote:

Hi Regularsaver1. what do you mean on a non-advised basis? I feel the problem with my PPI is I feel I was led to believe that you HAD to take the PPI, to qualify for the loan. If I had any brains at the time, which i didn't obviously I would have thought about it and realised that I already had the necessary to cover myself. If I had brains at the time I wouldn't even have taken the loan.

An indication of how these people work, is in my earlier post, when i said my disabled sister who doesn't work, was bullied into acccepting the PPI. She said no on a number of occasions and the sales person carried on. She is not a very confident person and needed the loan and therefore agreed.

Maybe some people were not mis-sold and whilst i don't advocate lying - I think some thing needs to be done about the PPI side of loans. They are not explained properly. When i went for a loan with the Black Horse I had to complete a form asking about my contract of employement, other insurance policies i might have to cover the payments etc and based on my answers was advised I didn't need the policy. That is when I began to think about my Barclays PPI.

I can't believe the amout of mis-selling going on still in the country. You'd think after the endowment problems people would just give up on selling rubbish to its customer!


:beer: monster

davilown

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!!

Its good to see that the rocks can read!

:beer: monster

beach_3

Help, have you got this template letter? I rang Halifax to cancell my ppi on my loan. They said I need to apply for another loan as I could not cancell my ppi on my existing loan.

Can you send me the template/

tHANK YOU

beach_3

Please could I have some advice about how to cancell my ppi my bank, Halifax have refused to cancell mine. I am not sure what to say to persuade them otherwise

Old_iron_balls

Ok, No more phonecalls. Waste of time and energy

Keep the letter simple - polite but firm.

Your not satisfied with the response you received when you called them to ask to cancel.
You need to let them know how you feel:-

Now, do you feel you were miss-sold, or is it a simple case of you feel your paying for a product that does not suit you ?

Tell them, include that you are considering moving your business to another lender.
Elaborate more if you wish, on your feelings toward the company as they have not satisfied your request/needs - just dont go OTT

There is your first letter, see what response you get.
If its still a no no you can reply or 'counter attack' as it were.
Let us know how you get on - good luck !
remember its worth a try

user051105

Yes it is possible to cancel PPI, I sent two letters to barclaycard one in January and again in February. So imagine my surprise when I looked today to find they had charged me for January & February, so i rang them and they put me through to Customer Loyalty Agent.

If you are with barclaycard and get put through to this department be prepared for "Good Afternoon Mr *****, are you having a good day we hope you are enjoying yourself, how can we help you today" all in a cheerful voice. I stated the two letters sent to cancel PPI and they tried to state no letters recieved, I have proof of posting for the letters.

But after a lengthy discussion of them trying to sell me every other product and offering a credit limit increase, they gave up and have cancelled the PPI. But with further pressing they will refund this months, if I want a refund for January send them a copy of proof of posting.

SO DON'T CAVE IN AND STICK TO YOUR GUNS WHEN THEY TRY IT ON. Maybe I will try for the credit limit increase now.

Avogirly

beach wrote:

Help, have you got this template letter? I rang Halifax to cancell my ppi on my loan. They said I need to apply for another loan as I could not cancell my ppi on my existing loan.

Can you send me the template/

tHANK YOU

Have PM'd you!

SteveZ_3

Well, I've just got Lloyds to move on my PPI...
A loan of 25k over 82 months, normal thing "You won't get it without the PPI"
After finding MSE I used the template letter just before Christmas.
They came back last week with an offer to return £2645 plus interest to the loan account.... BUT..
They are maintaing the repayment amount of £469 and saying that this means that the loan will finish 6 months early.
This is where I'm confused...Have they removed the PPI amount and repayed what I have paid against it or have they just repayed waht I have paid but kept the original loan amount?

Avogirly

When they removed my PPI my monthly payments dropped, but my term stayed the same. I got a complete refund, but did not get the interest back. Can you afford to keep up the current repayments and finish 6 months early?