Cancelling PPI CAN BE DONE!!!!!

gingerfurball

Letter sent by recorded delivery. I'll keep you all posted!

maforduk

See **HERE** Please.

I need help.

gingerfurball

I've never seen a bank move so quickly...got a 2 page letter today, first page with all sorts of doom and gloom regarding unemployment and death and the danger of cancelling.

Second page said this...




Dear Mr and Mrs XXXXXXXXX

The loan account you have with us is on a fixed term, fixed rate contract. When the loan agreement was set up, the insurance policy was purchased for the full duration of the loan and we are unable to alter this agreement.

In order for us to cancel the insurance, we will need to close this loan account (in accordance with the policy) and set up a new loan over the remaining term.

your monthly payment would be £283.91 and this figure is valid until the 09th May 2006.

If you still wish to cancel the "Payment Protection Policy", please sign and return this declaration form and we will issue new agreements to you.

Please note, until we receive signed acceptance from you we will be unable to proceed with your request.

I still wish to cancel my Alliance and Leicester Personal Loan Payment Protection and understand that it is my own responsiblility to ensure payments are made on my account.

Signature...................................................Date...........................

Yours sincerely

Mr Tremeyne Woodley
Accounts Manager.



Now this bothers me for a couple of reasons...no mention of the APR on the "new loan" and also no mention of reimbursements regardign mis selling of the PPI...any thoughts?

Katyag

They are just trying to get you to take out a new loan and clearly have no intention of refundung your PPI payments. Get back onto them and tell them you arent happy!!

maforduk

She's right....Tell them that you want to Cancel the PPI or you will take it further to the Financial Ombudsman.

gingerfurball

does anyone have a template letter I could use, or what terms to use when contacting them...I used the template letter a couple of pages back to contact them initially. Someone smarter than me!!

maforduk

Try this website...
https://www.consumeractiongroup.co.uk

neilloffhagen

Hi,

Originally posted this on http://www.consumeractiongroup.co.uk/ but think this is a more appropriate forum, dealing directly with PPIs.

Just over a year ago my wife took out an 6 year loan with British Gas, which turned out to be an (HBOS) AA loan in the end. This was started on line and then a phone call was made re taking out PPI on the loan. It was £8,000.00 loan. On the phone she was told the PPI would cost an extra £48.00 per month on top of the loan itself. No terms or conditions werre mentioned on the phone at all. The next day a courier arrived with the cheque which had to be signed for. No time to read the terms and conditions, before signing, as the courier wanted to be on his way. Later we read them and discovered that the PPI is loaded up front, as at cost of £1,400.00, so before you start paying off the loan you are paying off the PPI cost. We should have complained right away but didn't think too much of it at the time. Situtations have changed and we are now no longer need the PPI and are trying to cancel the PPI. We have written asking for this to be done and that has been agreed, but they are saying we only get £400 back out of the PPI, when we've had it only for one year. By out calculations we should be getting back approx £900.00

Before we sent the letter my wife spoke to a custmor service rep on the phone who said we would get the £900.00 back from the PPI, plus another £900.00 early redemption bonus. They are now saying that information was incorrect. The current balance is now over £6,000.00 whereas the rep told us it would be approx. £5,000.00 after the PPI had been refunded and if we wanted to redeem. So we are over £1,000.00 worse off to what we thought we would be.

Not sure where to go with this, expect that we obviously want to fight for what we were first told.

Is the best thing to ask for a DPA request of ALL the information they have on my wife, including transcripts of all phone conversations? She did mention that on the phone to them last night and they said it would cost £10.00 per phone call transcript? As far as I understand it, if we make a DPA request for everything in one go it is only one £10.00 cost?

Are we on the right track in doing this? Any thoughts much appreciated.

Neil.

maforduk

I have had no response from my letter to Barclays and I even spoke to someone saying that they did not recieve my letter and requested that I faxed it to them.
I did. Still no reply and I had to cancel the PPI myself.
I'm paying off the loan with an early settlement tomorrow.

I'm also sending them a letter before action tomorrow.

golden_girl

Hi Everyone

Has anyone had any joy of cancelling PPI on a Barclays loan.

Thanks