Egg loan Payment Protection Insurance

ramanjntu

Dear Friends

Hello. I am looking for an advice / suggestion regarding "Egg loan - Payment Protection Insurance". Here is my story below - Please give an advice / suggestions; all are welcome, will really appreciate your help.

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I took a ONLINE loan £25,000in Aug 2006 from Egg. This is for over 84 payments, each month: £385; total payment: £32,381.


From the online I have printed the agreement and I can see the below section in that agreement:

• Egg loan Payment Protection Insurance (For a loan of £25,000 repayable over 84months)
• Amount of Loan Payment Protection premium: £10,667.25 (inclusive of insurance premium tax) (This insurance is with AXA. Probably Egg had an agreement with AXA UK Plc)
• Amount of interest payable: £3,149.91
• Total amount payable: £13, 817.16

Also they have stated in that agreement that -


"Where you have requested this insurance, the T&C s governing it are explained in this agreement and the Egg loan Repayment Protection policy document supplied to you".

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I am not sure whether I can reclaim the PPI; as I do not know much about it, I would really appreciate any suggestions regarding this?

Many thanks in advance

VRN

marshallka

Did you tick the box to incude the insurance?

ramanjntu

Hello

Many thanks for your message. I can't remember exactly, whether I ve tick that box when i was taking the loan. But when I check my online - this is this is the message, I ve seen under credit agreement section-

You have no online agreements available for viewing. If you signed a paper Credit Agreement, you will also have received with it a duplicate copy of the Agreement and a copy of the Credit Agreement Conditions.

I will check my paper work work which sent by egg as well.

many thanks
VRN

di3004

Hi there

for your information here is a useful link of Martin's of his useful guidelines of reclaiming, check it out, you will also find a list of mis selling reasons and templates, although you do not have to use the templates if you don't want to, but write in your own words and use the templates as a guide with the reasons you have.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

I'm sure Marshallka will be along soon as well with some useful advice for you.;)

Good luck.

yekoow

Hi,

Just heard that rbs have offered me £5,089 which are the premiums I paid so great news. But they haven't mentioned any interest. Should I ask for this? If so how much?

Any advice greatly appreciated. This is a great site with great people.

di3004

yekoow wrote: »

Hi,

Just heard that rbs have offered me £5,089 which are the premiums I paid so great news. But they haven't mentioned any interest. Should I ask for this? If so how much?

Any advice greatly appreciated. This is a great site with great people.

Hi there

Well done to you.:beer:

I would ask them to send you a full detailed written breakdown, so you know how this was worked with the PPI etc.
In regards of interest I take it then that was not included within that amount?

If not then try to request for this.
I think Marshallka will be the one to ask on this, hopefully she will be here soon.;)
Good luck.

marshallka

yekoow wrote: »

Hi,

Just heard that rbs have offered me £5,089 which are the premiums I paid so great news. But they haven't mentioned any interest. Should I ask for this? If so how much?

Any advice greatly appreciated. This is a great site with great people.

Was this a credit card or loan??
If you have won for a missale then I would certainly ask for 8% statutory interest (which is what a court would award) for being deprived of the money in the first place. (is this the interest you mean??)

Well done on your win.