A&L Loan Help Please

srikanthnag

On friday i have applied loan by phone for £5000 for 1year repayment period. they accepted the application at 5.9% but said that i have to use the loan protection,which adds upto £440 more on my total repayment.

Any suggestion how can i get rid of the loan protection.

yesterday i was looking at the quidco site and there was £80 cashback offer for this loan. is there any way i can scoop that without effecting my credit rating?

Please help me.

Thanks
Sri

grumbler

How easy is it to cancel plpp

regularsaver1

no one has to have ppi - and you should have a cancelation period anyhow

MarkyMarkD

You can't get a quidco or similar cashback when you've already applied for a loan directly from the lender, unless you cancel your existing application and apply again.

That is not going to help your credit rating much and A&L might likely reject you as you would have pointlessly rejected their first loan offer.

I'd forget the £80 IMHO.

srikanthnag

I have cancelled PPI and they have sent me a new agreement.
:T
Thanks guys