Cancelling PPI CAN BE DONE!!!!!

dj0586

did you get yours back first time and what did they come back with if not

Smudge32

Surely there must be some people out ther who actually NEED PPI? Not everyone should cancel it?

dj0586

No i agree completely what i am saying is that its not fair if the banks dont give you the option or make it clear how extortionate it is.

Old_iron_balls

dj0586 wrote:

did you get yours back first time and what did they come back with if not

I had two loans.

They cancelled it on one with no problems - full refund etc :j

The other loan wasnt so easy, they wrote refusing to cancel as it was more than 30 days from the start of the loan.

(both loans were well over two years old)

At first I was just going to leave it and be content with the refund on the first loan.... I then changed my mind.
If they could cancel it on one they should cancel it on the other !?

I wrote in and complained (twice) , my case got passed to a customer care dept then a week or so later they rang me saying would i drop my complaint if they gave me a full refund + interest.
HELL YES :beer:

for the full story look at some oy my older posts

I wouldnt bother ringing them up they will only try & fob you off.
Write in a firm but polite manor. recorded delivery etc

Its worth a try ?!

ali1978

CONGRATS! Now ask them for the interest too! They ought to give you that back. (see my post MY PPI REFUNDED (£2000) + INTEREST )xxx :rudolf:

Claudie

Just joining this thread but have to ask - if you are cancelling your PPI, are you then taking out cover with a different, cheaper insurer? Surely as Smudge32 says, there must be those who still need cover? We took ours out as recommended in this article

http://www.moneysavingexpert.com/cgi-bin/viewnews.cgi?newsid1094824697,77411,

Not sure if I am missing something?

CheeseOnToast

Has anyone done this with HSBC?

dawnylou

us,thecat&thedebt wrote:

hi all

llyods are pretty persistant that after 30 days blah blah
can someone post that template please
would knock of £45 per month for us!!!
cheers :xmassign:

Yes with LTSB you have 30 days in which you can cancel the PPI. To do this you need to notify them in writing.
If it is over the 30 days the only way to do this is to refinance the loan - which sometimes makes things worse as the interest rate can be higher on the new app, meaning that even without the PPI the payments may actually be higher!
Refinancing will give you a rebate of the PPI but only a maximum of around 80%

The only way the PPI can be just straightforward cancelled once the 30 days has past is if the policy was missold to you.

But please, please - everyone in this thread really think about what you are doing. If you do not have a back up plan then either keep your policy - or shop around for a cheaper policy that will help you to keep up your repayments if anything was to happen.
Speaking from experience...I know it's difficult to lose your income and still have a mortgage and loan to pay - as well as bills!!


Also when speaking to staff with regards to cancelling the policy, or applying for a loan without the policy, please remember to be polite but firm - but not just downright awful about it. Afterall they are just doing their job...

socmwils23

I phoned Egg and they said it is an optional thing and i could cancel it at any time. I just cant add it on again later. thats £600 saved in one phone call.

Avogirly

socmwils23 wrote:

I phoned Egg and they said it is an optional thing and i could cancel it at any time. I just cant add it on again later. thats £600 saved in one phone call.

Congratulations, just before Christmas too! Well Done you!

:xmassign: