Cancelling PPI CAN BE DONE!!!!!

Gerradene

hi just read a few of the posts here and phoned Egg about cancelling my ppi.

Customer service agent was very helpful and agreed to cancel PPI, even gave me a choice of reduced payments or term!
I chose term so that's an extra £40 towards my loan each month

Thank you Avogirl :beer:

and everyone who takes the time to post advice :T

My loan was reduced by £1320.67 what a great result!

nej

nmiah786 wrote:

Just been on the phone with NatWest (pretended to be my brother). Guess what, my brother has now had £2681 refund back into his loan as a result of cancelling the Loan Insurance and reduced monthly payments of £50 from now on...he wanted them to keep the monthly payments the same but they would not do that as it would reduce term of the loan!!!!

Anyway, it was a great result...thank you to everyone especially Avogirly & Old Iron Balls.

Also, to all those who are with NatWest and pm'd me, now you know it can be done, so dont give up!!!

All the best.

That's great news! I wrote to them over 3 weeks ago, requesting a reply within 14 days. I have heard nothing, so yesterday I posted another letter saying that I had heard nothing and enclosing a copy of the original letter.

Your result is fantastic and now I know it can be done I will keep at it!

Old_iron_balls

WOW great results, were on a roll here guys

:beer:

deadmansgun

Hi all ..my first post!! And what a great site. Love it :money:

Ok into 16 months of a 48 month loan and took out PPI.This was infact second loan taken out as first loan nearly payed off but added onto this loan {first loan also had PPI}. I pay £450 per month back on loan. Now after reading of what PPI entitles me to, well I am 70% duplicity covered with Black Horse/ Scottish Widows and work schemes already and was prior to loan with PPI taken. I have written to them and explained that PPI I am paying for doesn't suit my needs. Additionally I told them in my letter that I was mis-sold it due to me having accident/sickness benefit already under Scottish Widows!!
I received the following letter back from customer care.

"You are concerned that you were not properly advised when you took out a new Personal Loan with the benefit of Loan Protection Insurance.
Your Branch has provided the documents that you signed and dated when your loan was opened. Included in these documents is the acknowledgement of purchase form. This document is signed and dated by you....and advising you that you had 30 days to cancel your policy.
As this policy cannot be cancelled after the first 30 days of your policy I regret that I am unable to agree that you were badly advised when the policy was sold to you.....In summary, I regret that I can find no reason to cancel your policy. I do appreciate that this news will be a disappointment to you but trust that you understand why the decision was made and I have adequately explained the reasons for this decision. However should you be dissatisfied with my response you do have the option of escalating matters within Lloyds TSB General Insurance.
Should you wish to do this ......providing your reasons for being unhappy and any further evidence you have...."

Can'y beleive the cheek as nothing bar my signature on PPI and cancellation period has been addressed thus far.
Any suggestions for stage 2 guys 'n' gals?

deadmansgun

excuse spelling mistakes Lloyds TSB PPI - Doh!!

nej

Well my second letter (complaining at no response to the 1st) has produced a quick response, with the manager of my branch promising to get back to me within 2 weeks, either with a response or an update.
He also said that I should look through the "enclosed leaflet" that details their complaints procedure. Pity he forgot to enclose the leaflet though! :rotfl:

Old_iron_balls

TSB always give you the old 30 day speech

Ok you wrote a letter requesting it be cancelled. They have refused -
now its time to respond with a letter of complaint.
If you feel you have been mis-sold then thats the line of fire you need to take.

Lloyds TSB can and will cancel PPI.
They did on TWO of my loans (well into 24 months of the loans )
other people on here have had similar results.
You just need to be Persistent. dont give up without a fight.

nej wrote:

He also said that I should look through the "enclosed leaflet" that details their complaints procedure. Pity he forgot to enclose the leaflet though! :rotfl:

They didnt enclose the leaflet when they responded to me. Even though in the letter it stated something like "please read the enclosed leaflet blar blar blar"

Mention that in your letter of complaints !

GOOD LUCK :beer:

Dudeness

Hi there,

I'm in need of some advice. I currently have 2 loans, one with Egg, one with Lloyds TSB. Now I was able to get the PPI cancelled on the Egg loan very easily (saved £4000). However Lloyds TSB, as most of you have said already, don't like to cancel the PPI without re-financing the loan.

I have already used the template letter from fool.co.uk, to which I got the standard "you had 30 days to cancel, blah blah blah" letter from Lloyds TSB.

Now some of you have said that you needed to complain at least twice, but the second letter that you sent, who did you send them to? Did you send them to the same address or customer care? Also what exactly did you put in the second letter? Did you use the same content from before, or did you just say that you weren't impressed with the response and threatened to take your business elsewhere,

Your help on this would be most appreciated.

Ta

Old_iron_balls

Dudeness wrote:

did you just say that you weren't impressed with the response and threatened to take your business elsewhere,

That was about the jist of it yes.
Keep it polite but firm.
I simply said I wasnt satisfied by the refusal to cancel my PPI.
I had been a TSB customer for over ten years etc and im now considering taking my business elsewhere.

Oh IIRC, I sent it to the Loans customer care dept.

Good luck and be sure to let us know how you get on :beer:

Reformed_Money_Waster

I am currently paying a whopping £91.45 PPI per month on my Lloyds TSB loan. I seen the letter template someone linked to on the other site but I would appreciate if someone who has successfully dealth with Lloyds TSB could PM a copy of the initial letter that they used.

I've already PM'd to ask Avogirly this, but help from any others would be appreciated it too as I must rid myself of this stupid debt. I do feel that the PPI was mis-sold to me. Ok, I admit that I should have read all the small print so I don't mean to completely blame Lloyds TSB, but I told them that I always get paid if I am off sick, their response was that I would not be able to have the loan without it. Also, there was no mention of a 30 day cooling off period.

TIA.