Life & Disability Ins Cover

Dwnmtc

Hi
Can anyone help !

We currently have a loan with Citifinancial, taken out last year - and having looked at the paperwork (after hearing about mis-sold PPI) i see that we have a large figure added to the loan for Life & Disability Ins Cover.

We already have a Life Ins Policy with another company that has been running for some 5 years.

Does this Insurance with Citifinancial come under the same mis-selling as PPI ???

Thanks Dawn

di3004

Dwnmtc wrote: »

Hi
Can anyone help !

We currently have a loan with Citifinancial, taken out last year - and having looked at the paperwork (after hearing about mis-sold PPI) i see that we have a large figure added to the loan for Life & Disability Ins Cover.

We already have a Life Ins Policy with another company that has been running for some 5 years.

Does this Insurance with Citifinancial come under the same mis-selling as PPI ???

Thanks Dawn

Hiya Dawn
Get writing to them to reclaim and complain.

It seems you were not aware of this then until recently?

There is a template letter you can use, on the red box top of page - reclaim £1,000's, you will then come across loan insurance, but personally I would write in your own words, tell them you want this investigated, add your own reasons of why you believe you were mis sold this and also make them aware you were already covered, if you were given the chance to tell them this on the sale of the loan then obviously you would have not taken it.

Tell them you look forward to hearing from them by 8 weeks, (this is what they are entitled to), and also tell them if they do not uphold in your favour, you will not hesitate but to take further action in retrieving your PPI back plus, interest and charges occurred.

Post by recorded delivery, another letter maybe required, until you exhaust the complaint procedure, where they should enclose the Financial service ombudsman leaflet with procedures of complaining to them, although you do not have to take to the FOS, there are other options here, check through other threads here as well, such as the PPI reclaiming thread.

Was the loan arranged by Citi as well? or did you have a broker.
Some say write to the broker because they arranged this, some say lender as they still have a responsibility here, to cover myself I would write to 2 of them and see what they come back with.

Please keep us posted, in case any more help is required, fingers crossed you will be successful first time round.;)