Firstplus

hayston

Hi,
Just wondered if anyone has exp of ppi reclaims with the above.
I am 3 years into a 15 year loan. I have called them today and it seems I may not be entitled to the 5 year payback as we have been late with a couple of payments although they can not confirm this. They said that they will not make the decision until the 5 year point. The only reason I have kept up the ppi is so I can get this pay back.
Any advice on cancelling the ppi or making a claim would be appreciated.
Thanks.

pinknico

Have you any reason to think this was mis sold?

di3004

hayston wrote: »

Hi,
Just wondered if anyone has exp of ppi reclaims with the above.
I am 3 years into a 15 year loan. I have called them today and it seems I may not be entitled to the 5 year payback as we have been late with a couple of payments although they can not confirm this. They said that they will not make the decision until the 5 year point. The only reason I have kept up the ppi is so I can get this pay back.
Any advice on cancelling the ppi or making a claim would be appreciated.
Thanks.

Hi hayston

Sorry to hear this and how annoying this must be for you.

There always seems to be catches with these policies.

I would write to complain about this matter alone without being mis sold and if you were also mis sold the ppi write about that in a separate letter if you want to, or keep it together on one letter.
You could use the link below to help you on the reclaiming if you have reason to believe you were mis sold, but again going back to the payout I think that is one complaint on its own in my opinion.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

May be also worth checking the terms and conds of the policy and see what it states about the insurance.
If they do not resolve this in your favour then move on to the FOS, they have 8 full weeks to respond.

Good luck.

hayston

pinknico wrote: »

Have you any reason to think this was mis sold?

yes, Thought this was part of my loan.
I arranged the f/p loan through Loan makers.
Would it be them I would have to mke the claim with?
Thanks

marshallka

hayston wrote: »

Hi,
Just wondered if anyone has exp of ppi reclaims with the above.
I am 3 years into a 15 year loan. I have called them today and it seems I may not be entitled to the 5 year payback as we have been late with a couple of payments although they can not confirm this. They said that they will not make the decision until the 5 year point. The only reason I have kept up the ppi is so I can get this pay back.
Any advice on cancelling the ppi or making a claim would be appreciated.
Thanks.

They have told you this about not making the decision until the 5 years so that they can acutually make that bit more money out of you. Do you understand your policy and the fact it was a loan that incurred interest and although they CAN pay back the policy after 5 years it does NOT include the interest as well.

Just read your other post and yes it is loan makers you make the complaint against IF they sold you the policy and you feel you were missold.

pinknico

Do you have an address for loanmakers ?so we can check they are still in business.

marshallka

Just found this one on the FSA register and seems like they are still in business but don't know if this is the one

Loanmakers Limited
Sefton House
Northgate Close
Horwich
Bolton
Lancashire
BL6 6PQ

They were authorised by the FSA in 31st October, 2004.??????