Advice Please

mrsimoncdover

My payment protection insurance is £1,986.69. the insurance was purchased in a single payment with the premium being added to the loan.

I have been offered £750 should i accept this or try again

di3004

mrsimoncdover wrote: »

My payment protection insurance is £1,986.69. the insurance was purchased in a single payment with the premium being added to the loan.

I have been offered £750 should i accept this or try again

Hi there in my opinion go for it all, or at least ask them if they are prepared to higher the amount to a more reasonable offer, or you will go to the FOS, sometimes they do this, but if they don't its up to you if you want to go further with the FOS to investigate, good luck.;)

melorablack

Are they giving you £750 and reducing the balance of your loan by the rest of the PPI? If not I wouldn't accept it.

russt2000

no dont accept right away.
you need it all back, and all the interest you have paid on it, and the ppi taken off the remainder of your loan or you will still be paying interest right up to the end.so if the £1986 is just premium, they owe you interest on top that you have already payed. so work out this new ammount and write back demanding it all you have paid refunded directly to you as you have been deprived of it , and your loan restated as if it had never had ppi.

russ