Loan Insurance NR Question

domesticgoddess

Hi, I need some advice please, I have a loan with Norther Rock which is part of my DMP with CCCS, I noticed on it that a large part of the loan is in fact bloomin insurance, OK so I forgot about this, so I called them and asked if it could be cancelled, they say yes, BUT........ I would have to re-schedule my loan with them, BUT it would be refused as I am now in arrears, I was never in arrears till I started my DMP, and can't really afford to pay the arrears, is the right can they only take off the insurance if I re-schedule, can I not cancel the policy. I'm a bit cheesed off with this as I have effectively been paying for the insurance policy for 2 years and not paid off a penny on the orignal loan :mad:

Any advice please, thanks
DG

southernscouser

The general rules are that you can only cancel PPI within the first 30 days or so. However, if you were mis-sold it you can successfully have it removed.

Have a look at this thread for more info!

domesticgoddess

thanks SS, letter written and in post tonight. I'm pretty sure my orignal loan didn't have it and then when I rescheduled they put it in. I have a letter asking me to include it so will keep that. Fingers crossed as it is worth over £6K of the loan :eek: