central trust ppi

monicajoanne

That is what i thought and we were not looking to claim it just seemed strange that they sent us the letter in the first place.

dippynina

petermb wrote: »

What did they refund you? Just the rpemiums or did they add in interest and comensation?

They only refunded the premiums. I am now regretting not looking into this further. Do you think its too late now??

dippynina

dippynina wrote: »

They only refunded the premiums. I am now regretting not looking into this further. Do you think its too late now??

I've actually dug out all the relevant paperwork from Central trust and have been looking at the 'Schedule of Insurance' documents. One is for Term Life Insurance for my partner, I am second insured. It states single premium -£781.58. The second one, for PPP has only got my partners details on it - I am not mentioned on it at all. This is for £1470.28. Does that mean that if I had previously put a claim in I actually wouldn't have been covered?? Also the total would be £1858.26. The amount I was refunded was £1964.21. A difference of £105 (in my favour for a change - yippee!!) Could this actually be compensation? My Maths is rubbish, but I can't imagine this is interest! *PLEASE IGNORE ABOVE FACTS AND FIGURES - COMPLETELY WRONG..I MUSY HAVE BEEN HAVING A 'MOMENT'*

Under the above circumstances - could it have previously been mis-sold, and although Central trust voluntarily refunded my the insurance, could I pursue for compensation/interest?

dunstonh

Bumpety bump, are you about Dunstonh?:D;)

eventually

Single premium is dodgy. over 90% of complaints about single premium insurances result in upheld (exception is whole of life where there are plenty of valid reasons for doing single premium). You can pay these monthly and not have them added to the loan (and not pay interest). So, there are grounds for it.

petermb_2

dippynina wrote: »

They only refunded the premiums. I am now regretting not looking into this further. Do you think its too late now??

It depends on how much the PPI was in the first place and how much they refunded you

dippynina

petermb wrote: »

It depends on how much the PPI was in the first place and how much they refunded you

You know I looked at my previous post with all the facts and figures and thought there's something wrong somewhere!! (told you my maths was atrocious). Quoting from my credit agreement it reads under 'Second Schedule' - Optional Insurance Option - Amount of Credit £2251.86
It also states the following:

- Optional Insurance Loan:-
Accident, Sickness & unemployment Cash price - 1470.28
Life Insurance Cash price - 781.58
Interest Charges -1858.26
Total Charges for Credit -1858.26

We were voluntarily refunded (or at least they paid our one months arrears deducted from our account) £1964.21. The loan was for 84 months and started August last year.

I hope this makes sense now! Thanks for your help!