Can I claim back the Payment Protection?

D40

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~Brock~

D40 wrote: »

My wife opened a letter from Barclays who she has a loan with. It was a yearly statement of her loan account. Then she noticed that payment protection was added to the loan. The original loan was £12000 with an extra £4747.86 as payment protection for the term of 7 years. When she took out the loan, she said that she did not want paymant protection due to tha fact that, lucky for her, she gets full pay if she is off sick. The loan was taken out October/November of 2008. Would she be able to claw the premium back and cancel the payment protection??

Basically, she was asked if she wanted the protection, she said no, then was given the quote of the monthly repayment figure of £322. We thought the amount was without protection and agreed to take on the loan. Does she have a case?

Thought I'd get in quick on this one, just to be first for a change

Yes you do have a case, write to them and explain your reasons, specifically as they apply to your case. Sounds like they don't really have a leg to stand on.

D40

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BigDave81

Never heard of the cross before the signature thing, definitley smells of bull!

I don't think it matters if you signed the agreement stating the PPI as the whole problem was people were being miss sold the policies or being told they 'had' to have PPI for the loan to be accepted.

You should follow the template letters on here, get them sent off to the loan provider and keep your fingers crossed, in the meantime though continue to pay as normal.

In future, DO check all the agreements that you sign escpecially where certain items and amendments have been previously discussed!

D40

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foxymum1977_2

unbelievable really as this EXACT thing happened to me a few years ago with Barclays aswell, i got all the Protection money back!! yay!! funny how i also didnt want the protection & they added it on ;-)

Tubbss

I have to agree with Isaac.
You said you did not require the PPI, yet signed several documents that stated you had the insurance. This would have been on the agreement and the demands and needs documentation.
In addition, this could also have been spotted if you worked out the total amount payable (payment x months).

D40

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Tubbss

Sorry if I p*ss*d you off, that was not my intention.
There are loads of postings on this site which "nark"me re mis-selling of PPI, and your last post says it all - If you were mis-sold then you are well within your rights to claim mis-selling, however, in your last comment you state you remember been sold it and agreed to it as there was a benefit to you and decided to keep it. Yes, you can cancel the PPI as you have now decided you no longer want the policy but you have not been mis-sold.

D40

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jonesMUFCforever

Can I ask one thing of the OP - which job pays sick pay for 7 years cos I want a job there!