Can someone please tell me if this is PPI. Also where to look for claiming if so.

blue_monkey_2

Hi all,

I apologise for this question but I do not know where to start looking for the info.

In 2000 we joined a 'holiday club', we bought a high season week in a large apartment and are currently still paying in installments - we are happy with the product and all that but I had to renew something this year and came across the old paperwork.

On the schedule with the monthly payment is an amount of £16.10 a month for a Payment Protection Premium.

We are still paying but will shortly finish paying for it, we have never defaulted or missed a payment. It is with First Holiday Finance.

But I wonder if it is PPI as it has a different name? I have seen some of Martins emails come in but never thought we had it on anything so have disregarded it in the past - it has been such a long time it just comes out and we do not miss the money as such, I know when it is due to finish being repaid and that was all was in my mind. How does it work and am I able to claim if it is PPI? Do they pay it all back to you? Why? It would be nice if we could as it would clear the rest of the loan up and have some money left over - you don't ask you don't get and all that!!

Also another quick question. We have since moved from the address that the Credit Agrement is in, the money is coming out of our bank and we have never missed any payment, the club we are with are aware of our new address but should I have informed the finance company as well.

Thank you for any help.

di3004

blue_monkey wrote: »

Hi all,

I apologise for this question but I do not know where to start looking for the info.

In 2000 we joined a 'holiday club', we bought a high season week in a large apartment and are currently still paying in installments - we are happy with the product and all that but I had to renew something this year and came across the old paperwork.

On the schedule with the monthly payment is an amount of £16.10 a month for a Payment Protection Premium.

We are still paying but will shortly finish paying for it, we have never defaulted or missed a payment. It is with First Holiday Finance.

But I wonder if it is PPI as it has a different name? I have seen some of Martins emails come in but never thought we had it on anything so have disregarded it in the past - it has been such a long time it just comes out and we do not miss the money as such, I know when it is due to finish being repaid and that was all was in my mind. How does it work and am I able to claim if it is PPI? Do they pay it all back to you? Why? It would be nice if we could as it would clear the rest of the loan up and have some money left over - you don't ask you don't get and all that!!

Also another quick question. We have since moved from the address that the Credit Agrement is in, the money is coming out of our bank and we have never missed any payment, the club we are with are aware of our new address but should I have informed the finance company as well.

Thank you for any help.

Hi there

If you feel you were mis sold this then yes you do have a right to try and reclaim on this, check the link out here:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance
Check is any of that occurs to you first.;)

If there is then try to reclaim on this and use the template 1 letter for a guide to reclaim on this but add your own reasons.
They have 8 weeks to respond in full.

Maybe for further info and help from others about this, it may be well worth you taking your post to the PPI reclaiming discussion thread on here where others will give their opinion on this as well.
Just click on loans and you will see that stated thread on top of the page.

You are entitled to request for copies of agreements and if not gone 6 years it should not be a problem, there maybe a charge of a £1 for this but ask them first and request in writing for the copy of the agreement, they should provide this within 12 days of request.;)
Of course mention as well of the old address but to post to your current one.

As you know its always wise to post by recorded delivery for your proof of posting and to keep a check on timescales they have from the date they receive any request or letters or so.

Good luck and I hope others have some useful answers for you on this one for you.

Di
x