Cancelling PPI CAN BE DONE!!!!!

uk086242

I phoned NatWest today, and they said that I could cancel the PPI on my loan provided I placed the request in writing - no problem.

The guy I spoke to said that the insurance company would refund about £500 - £550 and that NatWest would take that lump sum off the value of the loan, but he could not give me any adjusted monthly loan payment at the time I called.

Anyone got a Rule of 78 spreadsheet so that I can possibly work out the adjusted payments? I have no patience!!

Cheers,

UK086242

southernscouser

Just bumping this up coz quite a few people want to cancel their PPI!

shakemeup

I phoned Egg to cancel my PPI and told them that I felt I had been mis sold it originally. They agreed to cancel the PPI which saves me £70 a month. I then wrote them a letter and they agreed to reduce my loan balance by £3500! Well worth pushing for it.

Old_iron_balls

shakemeup wrote:

I phoned Egg to cancel my PPI and told them that I felt I had been mis sold it originally. They agreed to cancel the PPI which saves me £70 a month. I then wrote them a letter and they agreed to reduce my loan balance by £3500! Well worth pushing for it.

great result

Just shows you people it CAN be done :j

090481

Hi all,
Just wondering if anyone has had any experience with cancelling PPI with Abbey? I am pretty certain that if you want to cancel it they expect you to start from scratch with a new loan but just wondered if there is any way around this?
Thanks

ash1_2

Can someome please help me out.

I have aloan with Black Hores and I pay 86.01 monthlu for the laon and 21.97 for payment protection which after reading this thread i want to cancel. One to save me money so I can pay it off my credit card and two because my employer has now given me critical illness cover afte 4yrs service.

I have phoned Black Horse and am waiting for a response, I have a copy of the letter ready to send if they say know but i'm not sure what I should be asking for?

Obviuosly to stop paying the 21.97 but do I ask for a refund of what i've paid already?

If i stop the PPI i will save £1076.53 over the 4 yrs of the loan.

johnthomas_2

Just another quick one for Egg, i cancelled my PPI in a 5 minute phone call, they took it off straight away and saved me £600.

mariannemarlow

Hello all. this is a very interesting thread.

can you get refunds on payment protection that you have already paid on a loan that is paid up? - as i have had several loans before that i paid ppi on and have mostly only been a temp.

just curious..

M

Silvafox

I have a loan with Welcome finance (unfortunately) and I went in to the office and asked to cancel my PPI. They said, yes no problem. It had to be done in writing so they let me hand write a letter on their letterhead and faxed it off there and then to the head office. Job done, there and then. Took 5 mins.

moz414

I have a loan with Barclays, has anyone tried to get rid of the PPI with them? I don't need it cos I am in the forces and I get paid. even if I am off work sick. I'm going to ring them tomorrow and try to get it cancelled. When they cancel it do you get the amount back from when the loan started? How does that happen? Also, if anyone could PM me the template letter it would be most appreciated - just in case Barclays fobs me off over the phone (surely not though as they are such a caring bank!).

Thanks