Bit confused! Can anyone advise me please?

confusedandindebt2009

Hi

Looking for some advise in regards to PPI claim or even cancelling it! My partner took a loan out in Dec 2008 with Abbey. He was employed at the time but around 3 months later went self employed. His business hasn't exactly taken off and can't find a job. Although he has managed to keep the loan payments up until now it's looking likely that he is not going to be able to over the next few months, when he looked through his agreement with Abbey he remembered he had PPI but of course they won't pay out to as he decided to go self employed.

Is there anything we can do?

Not sure if a reclaim is possible although the PPI was only relevent for 3 months of the loan term?? Or whether it is possible to cancel the loan without having to re-finance the loan which I doubt is possible as he hasnt got a job!

Any advice would be appreciated

Thanks

di3004

confusedandindebt2009 wrote: »

Hi

Looking for some advise in regards to PPI claim or even cancelling it! My partner took a loan out in Dec 2008 with Abbey. He was employed at the time but around 3 months later went self employed. His business hasn't exactly taken off and can't find a job. Although he has managed to keep the loan payments up until now it's looking likely that he is not going to be able to over the next few months, when he looked through his agreement with Abbey he remembered he had PPI but of course they won't pay out to as he decided to go self employed.

Is there anything we can do?

Not sure if a reclaim is possible although the PPI was only relevent for 3 months of the loan term?? Or whether it is possible to cancel the loan without having to re-finance the loan which I doubt is possible as he hasnt got a job!

Any advice would be appreciated

Thanks

Hi there

Sorry to hear of your issues here.

I would check this link here for more details on reclaiming PPI, it maybe worth giving it a go on reclaiming and cancelling the policy if your partner is not eligible to make a successful claim when he needs to.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

You can if you want to cancel the ppi policy the same time as requesting for a refund.
So check the above link if any of it also applies to your partner go for it, you will find template letters as well, they have 8 weeks in full to respond, and I personally suggest to post by recorded delivery for your proof of posting.

Give us a yell for any help and please keep us posted, good luck.;)

confusedandindebt2009

Thank you for your advice and info, very kind of you - I will keep you posted!

di3004

confusedandindebt2009 wrote: »

Thank you for your advice and info, very kind of you - I will keep you posted!

Not a problem and you are welcome.;)
Good luck and we look forward to hearing the outcome of this.
Fingers crossed and keep at them X