Was I missold PPI?

SJ_Jones

I took out a loan back in... 2002/03(?) Straight after coming out of Uni, and the bank was ever so keen to sell me all the 'advantages' of the student account. I took out the insurance protection as they told me it would mean that on death my loan would be cancelled, and not put on to my family. Now the only family I had were my parents & brothers & sisters. It seemed very unfair that they'd have to pay back money I'd borrowed. I said something like that at the time, and wasn't corrected.

My loan still exists as, over time, I kept borrowing more & more... including the banks suggesting I use my loan to pay off my credit card that I had with them.

I eventually got out of this spiral. During this process I went over all my debt with my big sister. She suggested I cancel the PPI, and when she saw I was shocked by this suggestion, we got down to the fact that they WOULDN'T be liable for my debt if I died, as I had been lead to believe. :mad:

I cancelled it some time last year, but only recently it occurred to me that this could possibly be a misselling?

Can anyone help on this?

Thanks

di3004

SJ_Jones wrote: »

I took out a loan back in... 2002/03(?) Straight after coming out of Uni, and the bank was ever so keen to sell me all the 'advantages' of the student account. I took out the insurance protection as they told me it would mean that on death my loan would be cancelled, and not put on to my family. Now the only family I had were my parents & brothers & sisters. It seemed very unfair that they'd have to pay back money I'd borrowed. I said something like that at the time, and wasn't corrected.

My loan still exists as, over time, I kept borrowing more & more... including the banks suggesting I use my loan to pay off my credit card that I had with them.

I eventually got out of this spiral. During this process I went over all my debt with my big sister. She suggested I cancel the PPI, and when she saw I was shocked by this suggestion, we got down to the fact that they WOULDN'T be liable for my debt if I died, as I had been lead to believe. :mad:

I cancelled it some time last year, but only recently it occurred to me that this could possibly be a misselling?

Can anyone help on this?

Thanks

Hi there

I would definately go for it with your reasons, and any loan you did have that included the PPI.
More info with useful guidelines of reclaiming on the link below, with letter templates, also a checklist of mis selling reasons, if any of the reasons also apply to you then also write them as well, and post your letters by recorded delivery as your proof of posting.

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

Good luck, keep at them and please let us know how you get on, and of course ask for help if required.;)

Di

Jean74

:T I just want to say a huge THANK YOU to this website!!
My husband has just been refunded ALL of his PPI on his loan. He got back just over £3000 and has had his loan paid off:D

All it took was 1 letter (the stage one template letter) from this site, and within 2months since that was sent, has been reimbursed without any hassle from Bank of Scotland at all.

I can't highlight enough to anyone with a loan, to check if they have any ppi on their agreement and apply for a refund if, like us, they feel they have a case.

Thanks for all your help and advice with this. It is very very much appreciated. :beer:

di3004

Jean74 wrote: »

:T I just want to say a huge THANK YOU to this website!!
My husband has just been refunded ALL of his PPI on his loan. He got back just over £3000 and has had his loan paid off:D

All it took was 1 letter (the stage one template letter) from this site, and within 2months since that was sent, has been reimbursed without any hassle from Bank of Scotland at all.

I can't highlight enough to anyone with a loan, to check if they have any ppi on their agreement and apply for a refund if, like us, they feel they have a case.

Thanks for all your help and advice with this. It is very very much appreciated. :beer:

Brilliant news Jean, so happy for you both.:T:T
Well done and Congratulations.:beer::beer: