ppi stuff

meloany

I have had a loan 4 years its only got 1 year left, and was told theres only insurance left to pay on it. when I was sold the loan my bank said I would only be accepted for it if I had payment protection. Was this a faulse sale of insurance and if so, is it worth trying to claim because of the little time left on the loan and the fact I'm now only paying the insurance

di3004

meloany wrote: »

I have had a loan 4 years its only got 1 year left, and was told theres only insurance left to pay on it. when I was sold the loan my bank said I would only be accepted for it if I had payment protection. Was this a faulse sale of insurance and if so, is it worth trying to claim because of the little time left on the loan and the fact I'm now only paying the insurance

Hi there

This should be optional as you can have choices to buy separate "stand alone" covers to protect your loan which generally works out loads cheaper than the providers.

For more information on PPI reclaiming check this link here with useful info and templates, follow the reclaiming guide, they have 8 weeks to respond in full, but add your own reasons to the template.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Good luck and post up for more help if required.

Post by recorded delivery, and if you require more information and help there is also a PPI reclaiming thread here:
http://forums.moneysavingexpert.com/forumdisplay.html?f=169