Cancelling PPI CAN BE DONE!!!!!

pampam

I believe my son & his partner have been missold loans by TSB.
They gave them 3 loans amounting to £9000 in less than 18 months even though They were deeply into overdraft and missing D debits and standing orders.
All are now with collections dept.
Also sold them PPI, health ins & life ins.
Is there anything they can do?
Thanks
Pam

BullyCornedBeef

JULIE wrote:

hi ciara111, please update us on how you get on,i'm in the same situation with PPI with hsbc :mad: and would like to know your outcome

I visited a HSBC branch today and enquired about cancelling PPI on my Graduate Personal Loan and they said it can be done. Obviously the lady at the bank tried to talk me out of it but I was insisting that its is not needed.

Anyway, this was how she was going to do it. Take out a new loan (at the same rate) to pay off the old loan with simmilar sized monthly repayments set up. I say was going to do it because there was a complication relating to the fact im inbetween jobs at moment, so classed as unemployed. My new job does not start until September so I need to get hold of my contract for them before it can all be completed.

The best bit is I get refunded nearly £500 - really handy at the moment as I can use that to pay off my credit card! :j :j :j

Im really chuffed because money has been tight - so thanks to everyone who has contributed to this post! :money:

oliver1975

Hi everyone, do you think I still have a chance of getting a refund if my loan has now defaulted and been passed on to a debt collection agency? (I'm on a DMP).

I wasn't aware at the time that I had the PPI included with my loan and I'm sure that I wouldn't be in such a mess right now if it wasn't included!

The PPI amount of almost £2000 is now included with my debt collection agency debt - what do you all think?

Ciara111

BullyCornedBeef wrote:

The best bit is I get refunded nearly £500 - really handy at the moment as I can use that to pay off my credit card! :j :j :j

:

Yes they tried to offer me this as well, a new loan without PPI. However, when I discovered how much I had already paid, approx 1,700 and what was left another 1200... I realised that the PPI was almost 20% of my original loan. I want that 1,700 back, which is like 4 mths loan payments.

I have sent a stern letter highlighting this and again reiterating that I had been missold etc etc and have asked them to get back to me within 14 days. Will let you all know how it goes.

BullyCornedBeef

Please let us know hoe you get on.

I was not mis-sold the loan however, just want to get rid of PPI.

Good luck.

wills7

i really want o cancel my PPI does anyone have a letter template i can use that will get the action taken?

pattiemay

Please could I have the letter template for cancelling PPI too. Do you know if I can still cancel if I am sending token payments. The PPI is £6000 and would help a lot to get this debt reduced. Thanks

oliver1975

pattiemay wrote:

Please could I have the letter template for cancelling PPI too. Do you know if I can still cancel if I am sending token payments. The PPI is £6000 and would help a lot to get this debt reduced. Thanks

I'm also making token payments and am starting off by submitting a subject access request to the lender. Please let me know if you manage to find a template to use. :j

wills7

Try this http://boards.fool.co.uk/Message.asp?mid=9659780

wills7

I'm going to try to get my PPi refunded from Beneficial finance - i tried before but they told as the loan had been restructered i was unable to do it as i would need to take out another loan to cover it bringing it down to a shorter time to pay it as its now 86 months and they said it would have to be 60 months meaning i would be paying more back a month