We're aware that some users are experiencing technical issues which the team are working to resolve. See the Community Noticeboard for more info. Thank you for your patience.
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!

Cancelling PPI CAN BE DONE!!!!!

Options
14647484951

Comments

  • Does anyone have any experience with PPI and (the dreaded) First Plus.

    I foolishly (hindsight is a wonderful thing) took out a loan with them, and was talked into taking out the PPI (they promise £5K back after 5 years if not used).

    Then I became sick and have tried to claim but now they say they won't pay out due to my condition being pre-existing, as I had seen my doctor once with minor symptoms in the 12 months prior to taking out the loan. (I am positive they didn't ask about any pre-existing conditions and the paperwork I signed certainly doesn't say as much)

    Was I therefore mis-sold the policy?

    I am still ill, and am now unemployed.

    Any ideas/suggestions would be gratefully appreciated.
  • meandmyboys
    meandmyboys Posts: 13 Forumite
    Hi,

    I was wondering if anyone has had any luck claiming back mis sold PPI from Black Horse or the dreaded Approved car finance/the funding corporation?

    Much to my embarrassment I used both these companies in 2004 and have been totally taken for a ride. I was told that the PPI was compulory even though I was on Maternity leave at the time and my employer has generous sickness benefits.

    This situation with paying PPI is even more ridiculous since I had to give up my job in April 2005 to look after my seriously ill child. I cant believe I am having to pay thousands of pounds for insurance that I have no way of using!!

    I hope someone can help me find out if I have any chance of getting my money back from these parasites!!

    meandmyboys x
  • regularsaver1
    regularsaver1 Posts: 4,930 Forumite
    meandmyboys - some ppi includes carer cover - giving up work to be a carer of your family

    you may have been able to claim for that
  • meandmyboys
    meandmyboys Posts: 13 Forumite
    meandmyboys - some ppi includes carer cover - giving up work to be a carer of your family

    you may have been able to claim for that

    The ppi with approved car finance/the funding corporation and black horse barely covers being off work due to illness or redundancy, if I had ever been given a piece of paper with the details on it would have been a waste of paper!!! .. there was definately no cover for carer's leave :sad:

    Thanks for taking the time to reply though

    meandmyboys
  • cat_matt
    cat_matt Posts: 55 Forumite
    "I currently have a loan with paragon and when it was sold to us thru loans.co.uk we were basically told no ppi no loan, naively we signed it, recently we had a personal financial advisor come round to try and help us re-mortgage however when he saw the ppi he was outraged. He decided to take on the case free of charge and letters have been going bk and forth since, it then went to the financial ombudsman and out case worker agreed with us, loans.co.uk still argued so it has been sent to the actual ombudsman for a final decision, the total amount is £11,400 on top of the loan then they calculated interest on top of that so its crippling us. the last letter we received from the ombudsman was 12 april so now we just wait and see"


    Today we got a phone call to tell us the financial ombudsman has ruled in our favour and loans.co.uk misold us the ppi so we won!!! we will now get bk £11,440 as the loan is cleared too, im so pleased and relieved..all those who are currently fighting stay positive it can be done!!!!
    cheers:beer:
    cat

  • The PPI Reclaiming article is now complete, before it goes fully live we'd love forumites feedback
    Is it unstandable?
    Have you been through the process yourself and have any tips?
    Anything that's been missed, you disagree with or should be added?

    (the letters and other forum links will be loaded soon)

    To comment please post in the feedback thread
    *** Get the Martin's Money Tips Free E-mail at www.moneysavingexpert.com/tips ***
  • sparky0107
    sparky0107 Posts: 3,496 Forumite
    Debt-free and Proud!
    Hi All,
    I have a loan with Halifax, I applied on line got to the final stages of the application, I ticked the box to say that I didn't want PPI, so the system then just stopped the application and asked me to ring a telephone number and speak to an adviser, I then ended up with the PPI as I was desperate for the loan. Do you think I have a case for mis-selling.

    Thanks in advance
    Sparky0107 - Sealed pot challenge member #002. Total for SPC3 £1,030.57 Total For SPC 4 £2247.00 Total for SPC 5 £2574.62 :T Total for SPC 6 £4552.91:T
    :rotfl:LC2 & Jakes-Mum are off their heads :rotfl
    :j DEBT FREE AS OF 20/01/2012 :j
  • MSE_Martin
    MSE_Martin Posts: 8,272 Money Saving Expert
    Part of the Furniture 1,000 Posts Combo Breaker
    Important Request.

    If You Have Successfully Reclaimed Ppi Please Can You Post It In The Official


    Ppi Reclaiming Successes Thread


    To Encourage Other Moneysavers.



    Also Do See The New Article


    PPI Reclaiming Guide

    Martin :)
    Martin Lewis, Money Saving Expert.
    Please note, answers don't constitute financial advice, it is based on generalised journalistic research. Always ensure any decision is made with regards to your own individual circumstance.
    Don't miss out on urgent MoneySaving, get my weekly e-mail at www.moneysavingexpert.com/tips.
    Debt-Free Wannabee Official Nerd Club: (Honorary) Members number 000
  • fuzzgun19
    fuzzgun19 Posts: 7,767 Forumite
    Part of the Furniture 1,000 Posts
    Can I claim for a loan that was taken out in 2000, and is now paid in full?

    It's with Marks & Spencer money. Anyone had any experience claiming from these?
    I Hate Jobsworths!!!
  • regularsaver1
    regularsaver1 Posts: 4,930 Forumite
    sparky0107 wrote: »
    Hi All,
    I have a loan with Halifax, I applied on line got to the final stages of the application, I ticked the box to say that I didn't want PPI, so the system then just stopped the application and asked me to ring a telephone number and speak to an adviser, I then ended up with the PPI as I was desperate for the loan. Do you think I have a case for mis-selling.

    Thanks in advance


    no sparky - the ppi does not make a difference on whether the loan is offered or not

    if you don;t want ppi say so and you sign to say you don't want it.

    otherwise you have 30 days cancellation period, but I stress this is a new loan to clear to old, so if you don;t want ppi say so before completing the loan
This discussion has been closed.
Meet your Ambassadors

🚀 Getting Started

Hi new member!

Our Getting Started Guide will help you get the most out of the Forum

Categories

  • All Categories
  • 350.9K Banking & Borrowing
  • 253.1K Reduce Debt & Boost Income
  • 453.5K Spending & Discounts
  • 243.9K Work, Benefits & Business
  • 598.8K Mortgages, Homes & Bills
  • 176.9K Life & Family
  • 257.2K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 16.1K Discuss & Feedback
  • 37.6K Read-Only Boards

Is this how you want to be seen?

We see you are using a default avatar. It takes only a few seconds to pick a picture.