A Loan n Confused

2791.wal

in 2006 i took out a loan with RBS whilst i was working for a company- cards in. in 2007 i went self employed. all the time i have been paying loan protection on it. i have now been unemployed since mid feb and cant pay my loan back. is there no chance loan protection will pay it because i`ve heard im not covered if i was self employed? please help me on this one. thx.

di3004

2791.wal wrote: »

in 2006 i took out a loan with RBS whilst i was working for a company- cards in. in 2007 i went self employed. all the time i have been paying loan protection on it. i have now been unemployed since mid feb and cant pay my loan back. is there no chance loan protection will pay it because i`ve heard im not covered if i was self employed? please help me on this one. thx.

Hi there and so sorry to hear this hun.

I would get writing to them straight away in regards of the PPI, here is a link to help you through this:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

You will find template letters, but add your own reasons, they have 8 weeks to respond in full, another letter maybe required if not successful first time round and keep on at them until you exhaust their complaint procedures, if still not happy by the final response you should be able to take your complaint to the financial ombudsman service (FOS), they will tell you this in the final response if eligible.

Always post by recorded delivery for your proof of posting.

I would make sure on your policy as well just to double check.

You can always try to come to some sort of arrangement with them whilst your waiting for this matter to be sorted out, by 8 weeks they should have dealt with the complaint.

Good luck hun and also check on the PPI reclaiming threads.;)
You will find this on the forums.

Di

dumb_blonde

they might pay it as some unemployment cover is the same for employed or self employed . Have you applied to them or is it just hearsay you wont get it.?No harm in asking.Lots of luck