Reclaiming ppi from a cahoot loan/sanstander - with a twist

danielwhitt

Hello

After having success in getting ppi back from welcome i wanted to ask some advice about my cahoot /santander loan

I originally took the loan out with cahoot and then santander took over the loan, i have never missed a payment on the loan and the first thing i knew about ppi was when i received a letter from santander saying thank you for your recent request to cancel your ppi on your loan, they advised me that of my new premiuim and how many payment i have left to pay,

firstly i never even knew i had ppi on the loan
Secondly i never asked them to cancel it as i knew nothing about it, so where the got that information from i dont know

so i have spoken to them about reclaiming the ppi and the have now put this into action,

do i actually stand a chance of getting this back as this would help me settle the loan early as it finishes nov 2012,

there was 52 ppi payments made of 21.36 per month until santander cancelled this

i just dont know where i stand
many thanks dan

amersall

Hi there, they should not have cancelled the ppi if you did not ask them to.
When they told you the new payment for the loan after the cancel,is it the same term and apr? usually this goes up!!.
If you have valid reasons for mis sell then you have a good chance.

danielwhitt

i still have the letter, its just says about the new payments and no mention about apr increase, just the payment amount, and the only other thing on it is about how we recquested the ppi to be cancelled even though the first i knew about the ppi on the loan was when we received the letter from them saying it had been cancelled, which confused me,

amersall

Give them a ring and ask,when the ppi was cancelled,did they give you a rebate of the ppi that was on the loan and was this carried forward to the new loan (this is what usually happens),if it was,then you want the new loan to be looked at as well,if they are not already,if they say it wasnt,then you need the full workings out of the new loan.
You want all the ppi back.

danielwhitt

I actually believe how fast santander have dealt with this. i called them on Thursday @ 4PM to make the complaint about ppi, they said they would send me out an acknowledgement letter first, the first letter i got of them was this Wednesday saying they will pay back the ppi with interest for the amount 1696 and if i was happy to send the acceptance form back.
all in all this has taken at most three working days and to be honest im gob-smacked at how quick this has taken,
result!!!!!!!!!!!!!!!!!!!!!!!!!