Payment Protection Cover

Debtfreebythirtyfree

Hi all after years of not opening statements etc I have today taken stock of all my debt, mainly CC, and have a question re. Payment Protection Cover. I am currently paying:

Virgin CC - 40.54
Egg - 39.52
Burton Storecard - 13.20

Can I cancel this? This mounts to nearly £100/m.

I work full-time, permanent contract and employer will continue to pay my full wage of £1550/net if I am ill for 6months.

Many thanks xx

CLAPTON

yes you can cancel PPI on CC...just phone and say you wish to cancel.

Debtfreebythirtyfree

Thanks but is it wise? I'm not really sure that PPI covers. Also, are they likely to be reluctant to do this?

justruth

Yes you can cancel, contact the card issuer and ask for it to be removed. One suggestion that I found worked for me back when i had money, was to pay that much into a seperate building society or savings account along with however much any warranty would ever come to and earn the interest for yourself. That way should you lose your job or be ill for more than 6 months you are covered. It's also worth remembering that should the worse come to the worse you can make a payment arrangement with them anyway.

justruth

also if you put that much onto paying off the debt on each card each month, you would clear them faster. If in doubt look at the Office of Fair Trading website, they aren't too keen on PPI.

Debtfreebythirtyfree

Thank you - cancelled my Burton's already