Whats best to do???

Tink_04

Ok long story short

got a loan that has £2000+ PPI on the loan is until 2013 and still paying it, i had no idea this was even on it, i was made redundant last year and was out of work for 10 months was just wondering what is the best way to go about this.

Can i call and cancel the PPI off from now and claim back for the bits ive paid? should i try and claim for when i wasnt working or should i leave the PPI on and make a claim?

Also does it matter if you have missed or late payments when it comes to making a claim back for PPI???

Thanks in advance

Tink_04

di3004

Tink_04 wrote: »

Ok long story short

got a loan that has £2000+ PPI on the loan is until 2013 and still paying it, i had no idea this was even on it, i was made redundant last year and was out of work for 10 months was just wondering what is the best way to go about this.

Can i call and cancel the PPI off from now and claim back for the bits ive paid? should i try and claim for when i wasnt working or should i leave the PPI on and make a claim?

Also does it matter if you have missed or late payments when it comes to making a claim back for PPI???

Thanks in advance

Tink_04

Hi there

You could try to make a claim, give them a call first and see what they say, if they don't pay out then make a reclaim, and of course if you did not even know it was there in the first place, then its a possible mis sell, or you would have tried making a claim when you came out of employment.

More details here, but ask for further help if required, good luck.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

roonaldo

Use the insurance as it was intended for.

PPI_Technichal_Expert

Tink_04 wrote: »

Ok long story short

got a loan that has £2000+ PPI on the loan is until 2013 and still paying it, i had no idea this was even on it, i was made redundant last year and was out of work for 10 months was just wondering what is the best way to go about this.

Can i call and cancel the PPI off from now and claim back for the bits ive paid? should i try and claim for when i wasnt working or should i leave the PPI on and make a claim?

Also does it matter if you have missed or late payments when it comes to making a claim back for PPI???

Thanks in advance

Tink_04

Surely you should claim for whatever gives you th emost money. If you want to make a retrospective claim see whether that totals more then what you would get for reclima (when you take into account all of the interest etc)

It doesnt matter if uv made late payments etc, but if you want to make a retrospective claim your ppi must have been valid as non payment can lead to the cover not being valid.

dont cancel the ppi now. If you leave it to run and then win your reclaim case then you will get all of th emoney back plus all of the associated statutory interest payments so you will get more money.

Tink_04

PPI_Technichal_Expert wrote: »

Surely you should claim for whatever gives you th emost money. If you want to make a retrospective claim see whether that totals more then what you would get for reclima (when you take into account all of the interest etc)

It doesnt matter if uv made late payments etc, but if you want to make a retrospective claim your ppi must have been valid as non payment can lead to the cover not being valid. dose this mean the loan has to be fully upto date in order to claim?? i mean in terms of arrears??

dont cancel the ppi now. If you leave it to run and then win your reclaim case then you will get all of th emoney back plus all of the associated statutory interest payments so you will get more money.

would they still pay out for my redundancy even if this was last year and im now working?

roonaldo

ask to make a retrospective claim

Tink_04

do i just ring and ask them or do i have to write a letter?

di3004

You could give them a ring and ask them for a claim form, they should send one in the post, any problems and they refuse a claim let us know, not a problem, good luck.