Cancelling PPI CAN BE DONE!!!!!

Old_iron_balls

lombardox wrote:

original post

Well there was a happy ending to this story. We sent off the template letter altered to suit the circumstances (going with the misselling angle - stressing the point that they hadn't made clear that an early repayment would include all of the PPI premium) and the loan company checked their phone recordings and agreed that it wasn't sold according to industry best practice. They refunded the premium and the secured loan is now paid off. 7k off the final bill! :beer: Keep up the good work people.....

RESULT well done & congrats :beer:

pompeyblue

hi
thanks to this site i have allready cancelled my ppi :j , but i still do have a few queries that someone may be able to answer.
right, i presume that the ppi is a set amount that the bank pays to its insurers for cover. so how can they charge interest on the ppi aswell as the loan? surely it should just be added to the loan after the interest is calculated? also is there any code of conduct or consumer law that this practice could be challenged?

mark

domesticgoddess

HI, I sent a letter to Northern Rock last week asking to cancel my PPI, and not heard anything yet, has anyone had experience of cancelling PPI with Northern Rock. And if I don't get a response to my first letter what should I do next.

Thanks

Blue_Lou

I sent a letter to Lloyds TSB and received one back with a leaflet on customer care etc. They say they will get back to me in 14 days. Here is hoping.

Old_iron_balls

Blue_Lou wrote:

I sent a letter to Lloyds TSB and received one back with a leaflet on customer care etc. They say they will get back to me in 14 days. Here is hoping.

dont take no for an answer with TSB.
They can and will refund you if you keep hacking away at them !
good luck & if you need any help just post

langylangy

anyone done it with kensington mortgages have a 5k secured loan, and also can it be done if i had arrears in the past and went tocourt for it when i had difficulty and the pp didnt cover it but i am now completely up to date. cheers

frenchconnection200

Reading all these posts made me look at my PPI with Egg and to my horror it is over £3k on a loan of £6k. I contacted them in April asking why such a small amount comes off the loan when my monthly repayment is deducted and it appears the PPI is to blame. Didn't think I could get out of it so tried to forget about it and been stewing ever since!! Well now I've asked them to cancel it and I will fight all the way to the ombudsman. I didn't need it with having good sickness pay etc through work but needed money for new car but:mad: it was implied I wouldn't get loan if i didn't have PPI. So watch this space

twinkle75

Hello.

I have tried my own posts but no replies.

I am still waiting from Halifax. I e mailed them on saturday and no replies and no massive funds in my account.

Anyone any PPI halifax experience?

frenchconnection200

have cancelled ppi, hurray. knocked 2 years and £2k off loan, surprisingly easy, cheers egg:T

Ciara111

Maybe someone can help me with this... I hope!
I have a loan with HSBC for 5 years of of which I have paid for 1 year. The loak is at approximately 18K. After 3 phone calls to the bank I was finally told to go into branch to cancel it. The lady said that I could not cancel because its over the 14 days... I told her can I not have a refund on the rest... to which she said no. She said they would have to start a new loan for the remainder minus PPI which is 13K, so saves me 5K. I was denied because my behavourial score is lower. This is madness! All I want to do is cancel the PPI. I think I was missold this crap in the first place... as the guy on the phone told me I should have it to get the loan. The loan person said she would raise with head office since all im doing is transferring to a different loan. If that didnt work she would raise a query about being missold. What should I do? Write the letter, wait for the loan advisor? thanks all