PPI help needed please

simon.arnold

hello all,
appologies for this thread - don't know if this has been asked before and i am a totally green newbie novice when it comes to financial advice. I kind of drifted along with the system until recently and am hoping someone could advise me here.

I took out a £30,000 re-mortgage on my house July 2004- C&G provided this. At the time, i was advised to purchase PPI at £15 p/m direct debit ...no explanation of the insurance contents, limitations, clauses etc just the fact that " payment protection was necessary".
I was at the time and still am working and have not claimed on the insurance at all.

The PPI is still being paid via the monthly direct debit. I have filled in the Ombudsman's template form and sent it off to C&G ( actually now Lloyds TSB) who have received it and i now wait for their decision.
My question is, do i cancel the PPI direct debit now ? Will doing that effect my claim ?

grateful for any help received ( go gentle )

many thanks
Simon

powerwin

I am not an expert ...

Are you employed or self employed, and therefore do you feel that you would gain any benefit from the PPI? (having read its terms and conditions).

If you decide it's of no benefit, then I would write to Lloyds TSB and request that it is cancelled and the direct debit terminates. I am not an expert but I don't think this would impact on any misselling claim. I would not just cancel the direct debit, as then you won't give Lloyds the chance to communicate any objections they might have.

Rgds