PPI with A&L - bad memory, help!

perplexed.com

Hi everyone

I have been considering trying to reclaim or even just cancel the ppi I was sold with a loan for a car, taken out over the phone with A&L. I read the t&c which says that in order to cancel ( I plan to take out a much cheaper and more suitable one with another company ) they would have to rework the loan which puts me off. The problem is, although I think the person on the phone was quite pushy my memory is dreadful and I can't recall the questions etc in detail. I'm impressed btw at all the great memories people on this site seem to have!! do I have much chance of reclaiming? Oh and I am covered for 12mths sickness through work and didn't realise the ppi I have with A&L would be paid out for the full 5 years which seems a lot. thanks for any thoughts.

minimike2

When was the loan taken out and why do you believe you were mis-sold?

_Andy_

You can't reclaim it just because you've found it cheaper elsewhere.

perplexed.com

Hi

thanks for your replies. I felt I was pressurised into taking it out as I wouldn't have got the loan otherwise, but can't remember the woman's actual statements ( getting older, memory a bit rubbish!) On the second point, I agree with your comment , it's just that even if I can't prove it was mis-sold I'd still like to cancel the policy, not to get back any previous premiums but to replace the current expensive ones with something more competitive.

perplexed.com

Oh sorry. the loan was taken out just over 2 years ago. Ta.

oscar52

A&L got fined £7 million quid at the beginning of the month for mis-selling PPI on loans (by phone), so you may well have a valid claim for mis-selling.

di3004

perplexed.com wrote: »

Hi everyone

I have been considering trying to reclaim or even just cancel the ppi I was sold with a loan for a car, taken out over the phone with A&L. I read the t&c which says that in order to cancel ( I plan to take out a much cheaper and more suitable one with another company ) they would have to rework the loan which puts me off. The problem is, although I think the person on the phone was quite pushy my memory is dreadful and I can't recall the questions etc in detail. I'm impressed btw at all the great memories people on this site seem to have!! do I have much chance of reclaiming? Oh and I am covered for 12mths sickness through work and didn't realise the ppi I have with A&L would be paid out for the full 5 years which seems a lot. thanks for any thoughts.

Hi
If you need some help with this please post on the ppi reclaiming-discussion thread, you will find this towards the top part of the page.
If its any easier just copy and paste your 1st above post instead of having to explain it all again, then add it on the ppi reclaiming link where you will have help and guidance throughout this.

If sold over the phone you may have a strong case of reclaiming the ppi back due the mis selling reason where it involved phone sales of A&L.

If the ppi is no use to you and worthless, then cancel, where they state the first 5 years, I think they actually may have meant and should have said it would only cover you for the first 5 years of your loan, so say for instance your loan was for over those 5 years or more, you would still be paying out for the ppi within your loan repayments for the remainder of your loan and will not be covered then.

If they have supplied you with the terms and conds which they should have, it should explain about the insurance, and they try to make it sound good by saying if you have not made a claim within the first 5 years you will get back over a certain percentage of what you paid in.......:rolleyes: , unfortunately this is not always the case.


Anyway, if you want help, please add your post on the mentioned thread.;)

The very best of luck.
Di

perplexed.com

Thanks Oscar, they said ( on their website) they'd write to all customers who were sold over the phone during this time, but I've had zilch so far!

thanks Di I'll post over there. My loan is for 5 years but wouldn't have taken out a policy which covers all five as I'd gamble on not being off work that long at one stretch though I realise this is a gamble lol.

cheers :beer: