Help!! Totally Confused!!!

Tink_04

Hi, im new on here and just had my LB moment about my debt! i have been sorting through my paperwork and i have realised a loan i have has PPI on which i was not aware of! i was made redundant last year and had no idea it was there or i would have used it - i want to claim this back as i specifically didnt ask for it the story is a bit complexed but please read on and advise if you can!!!

I was 19 and took out a loan from Halifax after coming home from UNI and used it to clear my CC debt i was told i needed to have PPI to have the loan so took it. A few Years later i decided i wanted a car and since i already had a loan with them i called them up for advice on extending it - i was told i would have to take out a new loan to clear the first and borrow what i wanted on that - i was told the finnal figure for repayment was so high as i had PPI on the loan i was offered the same on the new loan which when i questioned the figures seemed really high so i declined i was pushed and pushed and had the whole conversation of what would happen if you lost your job etc ect etc but i declined this!!! Now many years later i have decided i need to sort my debt out and have been looking at paperwork and realised this loan has PPI on it!!! my own foult in some part as i have not read the paperwork properly but i did not ask for this.

Now my question is can i claim the PPI back for both of these loans? i have no paperwork for the first loan but am going to request it tomorrow - i feel so stupid i have ignored this for so long but i honestly thought the 2nd one didnt have it on - i had been thinking about claiming the first one back for a while but just never got round to it and now i just feel like such an idiot for wasting money and being so stupid about it all!!!!!

di3004

Tink_04 wrote: »

Hi, im new on here and just had my LB moment about my debt! i have been sorting through my paperwork and i have realised a loan i have has PPI on which i was not aware of! i was made redundant last year and had no idea it was there or i would have used it - i want to claim this back as i specifically didnt ask for it the story is a bit complexed but please read on and advise if you can!!!

I was 19 and took out a loan from Halifax after coming home from UNI and used it to clear my CC debt i was told i needed to have PPI to have the loan so took it. A few Years later i decided i wanted a car and since i already had a loan with them i called them up for advice on extending it - i was told i would have to take out a new loan to clear the first and borrow what i wanted on that - i was told the finnal figure for repayment was so high as i had PPI on the loan i was offered the same on the new loan which when i questioned the figures seemed really high so i declined i was pushed and pushed and had the whole conversation of what would happen if you lost your job etc ect etc but i declined this!!! Now many years later i have decided i need to sort my debt out and have been looking at paperwork and realised this loan has PPI on it!!! my own foult in some part as i have not read the paperwork properly but i did not ask for this.

Now my question is can i claim the PPI back for both of these loans? i have no paperwork for the first loan but am going to request it tomorrow - i feel so stupid i have ignored this for so long but i honestly thought the 2nd one didnt have it on - i had been thinking about claiming the first one back for a while but just never got round to it and now i just feel like such an idiot for wasting money and being so stupid about it all!!!!!

Hi there

If you were in uni and not working then the ppi would not have been useful for you anyway, and with all the reasons you have, yes give it a go on the both of them.
The ppi is optional.

As long as you have the account numbers then you can still continue to make a reclaim, sometimes they send back some paperwork with a letter when you make a complaint.

Follow the link below to the reclaiming questionnaire and ask for any help from here if required, good luck.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#reclaim

lennonray

you say that the lender said that you 'needed' ppi ? when was the loan taken out , you have to explain your personal details to them to determine if you 'need' it , and even after that its your decision

Tink_04

i had just left uni (it was jun 04) i was still classed as a student as i was unsure if i was going back next term and in the end didnt as took a job instead i was working full time when i took the loan and would have said i was FT employed! do i just fill out the questionair and send it to hailfax?? im a little confused about what to do?

Tink_04

Oh and can i claim both loans at the same time? would i just fill out 2 forms or should i do one at a time??? sorry but i have no idea how to do this!!

di3004

Hiya

You can do them separate or together, its up to you, remember to enclose the account numbers.;)

Tink_04

Thanks is that all i need just that form and the account numbers? sorry if im sounding dumb!

di3004

Tink_04 wrote: »

Thanks is that all i need just that form and the account numbers? sorry if im sounding dumb!

Hey don't worry, we were all new to this ourselves, so no worries and the best of luck, your doing good,:)