Cancelling PPI CAN BE DONE!!!!!

ScorpioLady_2

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

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

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

regularsaver1 wrote: »

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

"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

Former_MSE_Wendy

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

sparky0107

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

MSE_Martin

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

fuzzgun19

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?

regularsaver1

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