Question from the newbie!

pmw14282

Hey Guys,

Just came across this website, and found the link to the PPI claims. I took a loan out in my gap year in 2004 for a car before I went to uni in September of that year. Two things here, I was pressured into taking out more than I had planned for, and was pushed into taking insurance. I've now found out I wasn't covered as I was and am currently working part time, and then was pressured into extending my loan to pay off my overdraft and credit card with the same provider, thus inflating my PPI payment. I'm thinking of going through a claims company to avoid any hassle and bureacracy. Is it worth the 25% fee, or should I go through with it myself? I'm also worried my bank will call in my overdraft, which I've had since uni. Is that a possibility?

di3004

Hi there and welcome.:)

Personally I would give it a go with help from this site and do not pay out these companies, this way you get to keep all your ppi, interest etc and only pay for the posting of the letters.
I would be very wary of others doing this for you.

Check this here for more information, although it seems you do have good reasons and for being pushed into taking out the PPI and you would not have been eligible anyway to make a claim as it seems, so hopefully by doing this yourself it should be a quicker method and straightforward too.
http://www.moneysavingexpert.com/rec...loan-insurance

In regards of the overdraft, just because your reclaiming it should not affect anything else with your account etc, your only rightfully reclaiming what belongs in your pocket.

Yell up if you you require any help from here, and good luck with this, please keep us posted, cheers.:)