MBNA Loan Help

jamesa007

Hello,

I've received an account summary of my loan this weekend which I took out in Jul 2006 and I'm close to paying it off within 12 months.

I was verbally told I had to take the PPI cover to get approved and I want to know if I can claim it back. I've read a few posts and stickys and presume I have a case but there seems to be so much info I'm a little lost.

I hope someone can help as this might be very helpful and enable me to get out of this loan quicker than I imagined.

Many thanks

James

di3004

jamesa007 wrote: »

Hello,

I've received an account summary of my loan this weekend which I took out in Jul 2006 and I'm close to paying it off within 12 months.

I was verbally told I had to take the PPI cover to get approved and I want to know if I can claim it back. I've read a few posts and stickys and presume I have a case but there seems to be so much info I'm a little lost.

I hope someone can help as this might be very helpful and enable me to get out of this loan quicker than I imagined.

Many thanks

James

Hi James
If you were pressurised into taking out the ppi for the condition of been accepted for the loan etc, then give it a go.

You can also check the checklist reasons of mis selling here:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#checklist

Then onto the reclaiming - you pursue the ones who sold and set up the policy from the start, by completing the reclaimng questionnaire as shown here:
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#reclaim
Send to whoever as state responsible, keep all copies of what you send and receive - in case you need to refer to this at some point.

They have 8 weeks to give a decision, so if your not happy with the final decision or you don't hear anything at all by 8 weeks, then complain to the Financial ombudsman service (FOS).

Good luck.:)

jamesa007

Excellent thanks for your help!

I'll get it all completed this week and sent off and update you all on here. Fingers crossed.

di3004

jamesa007 wrote: »

Excellent thanks for your help!

I'll get it all completed this week and sent off and update you all on here. Fingers crossed.

Fingers crossed, we look forward to hearing from you.

jamesa007

Had the green light

Been told I will receive a cheque in 4-6 weeks but no idea for how much!!!

It's taken it's time but thank you so much for your help and support!!! Yet again MSE making a massive difference!!!

I will report back with the final figure but hope it will be an amount that makes difference.

£9k loan, £12k repaid plus interest could be £1k+ ???

Kind Regards~


J

amersall

jamesa007 wrote: »

Had the green light

Been told I will receive a cheque in 4-6 weeks but no idea for how much!!!

It's taken it's time but thank you so much for your help and support!!! Yet again MSE making a massive difference!!!

I will report back with the final figure but hope it will be an amount that makes difference.

£9k loan, £12k repaid plus interest could be £1k+ ???

Kind Regards~



J

:j:j:jWell done :beer::beer::beer::beer: