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Personal Loan Insurance help
singingsister
Posts: 480 Forumite
in Loans
Hi
My husband took out PPI on our personal loans that we have with Egg and Halifax.
When he got made redundant in April this year, he filled out all the respective paperwork and his claims were approved by both companies.
Egg and Halifax are the same company. And when on occasion Egg or Halifax had mislaid some paperwork, they just requested it from the other company (we had to send all paperwork to both companies).
Egg pay his loan internally. As in, our direct debit has been cancelled and every month the Egg loan insurance people directly pay the Egg loan no worries.
However Halifax, they pay it into our account and then we have to ring up and pay the loan!
It's really annoying because he has to show proof of JSA etc before they will make payment each month and sometimes because of dates of signing on, the loan people pay the motnhly payments in dribs and drabs. The problem is that we've started getting debt collection letters coz saying we owe money on the loan and the loan payments are also a month in arrears.
So it's not like we can just have a direct debit set up to pay the loan because we don't know when we're going to get money from Halifax and on what date (until my hubby gets a text from them telling him what they are paying)
What can we do? I don't understand why Halifax can't pay the loan like Egg do.
The debt collection letters are only coming from the Halifax side of things.
It's really starting to stress us out now.
When my hubby spoke to Halifax about it they said there was nothing they could do and that was the system. My worry is that these debt collection letters are going to go on our credit rating and I don't want that.
We're now getting threatening letters from Albion (on behalf of Halifax) telling us we have to pay our 25k loan back in full! Which we obviously can't do.
Advise/suggestions please?
Sarah
My husband took out PPI on our personal loans that we have with Egg and Halifax.
When he got made redundant in April this year, he filled out all the respective paperwork and his claims were approved by both companies.
Egg and Halifax are the same company. And when on occasion Egg or Halifax had mislaid some paperwork, they just requested it from the other company (we had to send all paperwork to both companies).
Egg pay his loan internally. As in, our direct debit has been cancelled and every month the Egg loan insurance people directly pay the Egg loan no worries.
However Halifax, they pay it into our account and then we have to ring up and pay the loan!
It's really annoying because he has to show proof of JSA etc before they will make payment each month and sometimes because of dates of signing on, the loan people pay the motnhly payments in dribs and drabs. The problem is that we've started getting debt collection letters coz saying we owe money on the loan and the loan payments are also a month in arrears.
So it's not like we can just have a direct debit set up to pay the loan because we don't know when we're going to get money from Halifax and on what date (until my hubby gets a text from them telling him what they are paying)
What can we do? I don't understand why Halifax can't pay the loan like Egg do.
The debt collection letters are only coming from the Halifax side of things.
It's really starting to stress us out now.
When my hubby spoke to Halifax about it they said there was nothing they could do and that was the system. My worry is that these debt collection letters are going to go on our credit rating and I don't want that.
We're now getting threatening letters from Albion (on behalf of Halifax) telling us we have to pay our 25k loan back in full! Which we obviously can't do.
Advise/suggestions please?
Sarah
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