Do you borrow ppi?

government_slave

Hi im new.
I have a question regarding lump sum ppi.
I took out an Egg loan in 2004 with a one off up front ppi, the ppi was added to the total sum borrowed on the loan agreement for which i am paying interest on.
Loan amount £xxxx
PPI £xxxx.xx
Total amount £xxxx.xx.
I have read that you are not supposed to borrow the ppi and for them to charge interest on it. I have cancelled ppi now and got a partial refund (i never signed anything though).

Do i have a case to claim whole amount back under mis selling?
Thanks in advance

di3004

government_slave wrote: »

Hi im new.
I have a question regarding lump sum ppi.
I took out an Egg loan in 2004 with a one off up front ppi, the ppi was added to the total sum borrowed on the loan agreement for which i am paying interest on.
Loan amount £xxxx
PPI £xxxx.xx
Total amount £xxxx.xx.
I have read that you are not supposed to borrow the ppi and for them to charge interest on it. I have cancelled ppi now and got a partial refund (i never signed anything though).

Do i have a case to claim whole amount back under mis selling?
Thanks in advance

Hi there

They have only part refunded you, so you could reclaim on the remainder of the PPI.
So yes I believe you have a case, let us know if you require any help/info for this, cheers.;)

government_slave

di3004 wrote: »

Hi there

They have only part refunded you, so you could reclaim on the remainder of the PPI.
So yes I believe you have a case, let us know if you require any help/info for this, cheers.;)

Thanks for the reply.
The loan was taken out on line does that matter?

Sorry for all the questions, but when i cancelled ppi they didnt renew the loan just deducted around £10 per month from the repayments (even though ppi was around £24), should they haev done a new loan agreement? Ive been reading that they were suppose to

Which template letter do i use?
Thanks

di3004

government_slave wrote: »

Thanks for the reply.
The loan was taken out on line does that matter?

Sorry for all the questions, but when i cancelled ppi they didnt renew the loan just deducted around £10 per month from the repayments (even though ppi was around £24), should they haev done a new loan agreement? Ive been reading that they were suppose to

Which template letter do i use?
Thanks

Hi there

I think they all have their own policies, but yes you could be right, hopefully someone could confirm this to you.

You could have a good case here.

You will find the SAR template if you click on PPI reclaiming thread the SAR is on one of those threads there with details, any problems in finding this let me know, this is the template if you require information on yourself going back as far as 6 years, if you do not have any, but for reclaiming, there is a template on the link here below you can use to help your letter, but I would try to write in your own words if you can and obviously your own reasons, they have 8 weeks to respond in full, another letter maybe required if not successful, or until you receive the final response which should enclose a leaflet of the financial ombudsman service.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

All the best.

government_slave

di3004 wrote: »

Hi there

I think they all have their own policies, but yes you could be right, hopefully someone could confirm this to you.

You could have a good case here.

You will find the SAR template if you click on PPI reclaiming thread the SAR is on one of those threads there with details, any problems in finding this let me know, this is the template if you require information on yourself going back as far as 6 years, if you do not have any, but for reclaiming, there is a template on the link here below you can use to help your letter, but I would try to write in your own words if you can and obviously your own reasons, they have 8 weeks to respond in full, another letter maybe required if not successful, or until you receive the final response which should enclose a leaflet of the financial ombudsman service.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

All the best.

Thanks again.
Will do letter over the weekend.

di3004

government_slave wrote: »

Thanks again.
Will do letter over the weekend.

Just give us a yell if you need any help.;)