Mbna ppi

raymondo360

Hello all, im newbie on here so go gentle!

Ive been reading up on the ppi reclaiming and have been thinking of doing it, i took out an unsecured loan 2 years ago and have realised im paying about £7500 just on ppi, i couldnt believe it. When i took out the loan they said because it was for £20k and if something happened to me, for example i died who would pay it off. i didnt want to leave it to my parents so i agreed, is this correct?!

also has anyone had any dealings with mbna on loan ppi?

Thanks

dunstonh

If you die,your debt is not passed to your parents or children. it can only impact on a spouse/partner where joint assets are held (or anyone else where joint assets are held). You were fed a line and that is good grounds for complaint.

mr_freeppi

raymondo360 wrote: »

Hello all, im newbie on here so go gentle!

Ive been reading up on the ppi reclaiming and have been thinking of doing it, i took out an unsecured loan 2 years ago and have realised im paying about £7500 just on ppi, i couldnt believe it. When i took out the loan they said because it was for £20k and if something happened to me, for example i died who would pay it off. i didnt want to leave it to my parents so i agreed, is this correct?!

also has anyone had any dealings with mbna on loan ppi?

Thanks

Hi raymondo

This is a major claim.Make sure you claim the interest and the compansation.:beer:

russt2000

If you ve read up , what grounds do you think you have ? ppi was it a single upfront policy added to the loan then ? if so you'll have a good case as it is now banned becuase it is rubbish and unfair.
there are some great template letters about , you can adapt them to suit your circumstances and start the process off , "which" are also doing an online clain process for you .

raymondo360

Thanks guys,

but i was wondering do i need any proof?

di3004

raymondo360 wrote: »

Thanks guys,

but i was wondering do i need any proof?

Hi there, here is the link with info and templates:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

They have 8 weeks to respond in full.

I agree with the others, you have a good case here.

How was you sold this loan?
Telephone, direct?

If over the telephone you could actually request for the copy of the recordings, this should help.

But despite that, you could have a number of reasons to back your case anyway, so please check on the above link to see if any of those reasons accur to you, and with help from the templates on the link, write in your own reasons.

Follow the reclaiming procedures.

In the final response, they should give details of the Financial ombudsman service (FOS) if eligible to go this direction, where you should be able to, and if your not satisfied with the outcome of this.

Good luck and remember to use recorded delivery for your proof of posting.;)

raymondo360

I applied online but then spoke to an adviser over the phone, im sure i ticked the no payment protection box but on the phone they said to have it.

Thanks again for all your help, will let you know how i get on.

di3004

raymondo360 wrote: »

I applied online but then spoke to an adviser over the phone, im sure i ticked the no payment protection box but on the phone they said to have it.

Thanks again for all your help, will let you know how i get on.

Hi again

Ask them for a copy of the recordings, the other way you can request for everything they have on your account would be to request a SAR, known as a Subject Access Request, there is a template letter for this on the link below.
However there is a charge of £10 postal order or cheque payment for this, but they must comply by 40 days, they should supply the recordings within the SAR if any, I assume they would.
Post by recorded delivery, good luck.;)
http://forums.moneysavingexpert.com/showthread.html?t=1475553

dunstonh

but then spoke to an adviser

Got to love the way these companies have managed to make people think that they are advisers when they are not. The FSA ought to ban the use of the term adviser for all roles apart from those that are authorised to use it.