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A&L What's my chances ??
zebraten1
Posts: 2 Newbie
I took out a loan with Alliance & Leicester in April 2007 for £9000 The staff member implied over the phone more or less it would be in my best interests to take out a PPI for my loan application being successful even though i had not budgeted on this and made no mention of the fact that it was optional.
I've thought for a long time about making a point of this and trying to reclaim what I've paid, or at least trying to stop paying it for the remainder of the loans lifespan as it still has one years left on it.
Alliance & Leicester did send me out a letters in March 2009.... ONE year ago, stating
This letter is important and requires your careful consideration.
Dear Mr A
Your Loan Protection Policy
The Financial Services Authority has identified problems with our Payment Protection Insurance sales process for unsecured loans on an advised basis through our telephone sales channel between 14 January 2005 to 31 December 2007.
You need to review your policy and your situation. If you think you are affected by the issues covered in this letter, contact us immediately.
Depending on your circumstances you may be entitled to a refund.
The letter then goes on to give some key points about the loan protection policy.
The second letter I received goes like this.
Dear Mr A
Your Loan Protection Policy
We recently wrote to you concerning the PPI policy which was sold to you alongside your personal loan.
If you think (i)any of the issues in our letter applied to you,(ii)you have any concerns regarding the purchase of your PPI policy and whether it was suitable for your needs or(iii) you have any questions about the sales process or the cover provided please contact our dedicated team on xxxx xxx xxxx quoting the reference number at the top right hand corner of this letter.
that’s a quick summary of the letters
But finally I thought I would bite the bullet and see whether or not I have any chance of reclaiming what I have paid, or is it too late. Is it worth pursuing?
Thanks for any help
I've thought for a long time about making a point of this and trying to reclaim what I've paid, or at least trying to stop paying it for the remainder of the loans lifespan as it still has one years left on it.
Alliance & Leicester did send me out a letters in March 2009.... ONE year ago, stating
This letter is important and requires your careful consideration.
Dear Mr A
Your Loan Protection Policy
The Financial Services Authority has identified problems with our Payment Protection Insurance sales process for unsecured loans on an advised basis through our telephone sales channel between 14 January 2005 to 31 December 2007.
You need to review your policy and your situation. If you think you are affected by the issues covered in this letter, contact us immediately.
Depending on your circumstances you may be entitled to a refund.
The letter then goes on to give some key points about the loan protection policy.
The second letter I received goes like this.
Dear Mr A
Your Loan Protection Policy
We recently wrote to you concerning the PPI policy which was sold to you alongside your personal loan.
If you think (i)any of the issues in our letter applied to you,(ii)you have any concerns regarding the purchase of your PPI policy and whether it was suitable for your needs or(iii) you have any questions about the sales process or the cover provided please contact our dedicated team on xxxx xxx xxxx quoting the reference number at the top right hand corner of this letter.
that’s a quick summary of the letters
But finally I thought I would bite the bullet and see whether or not I have any chance of reclaiming what I have paid, or is it too late. Is it worth pursuing?
Thanks for any help
0
Comments
-
defo not too late, go for it.0
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