Reclaim from halifax secured loan??

louiser123

hi everyone,
i have a quick question as i am really confused as to if i can actually place a claim to the halifax.

we have a secured loan we took out over 10ys ago it may even be longer. we have what i believe to be PPI on this account which in all honesty neither of us knew about until we read our yrly statement. the payment is approx £2 a month. are we able to claim this back? if so how do i go about setting the ball rolling /

cheers in advance

di3004

louiser123 wrote: »

hi everyone,
i have a quick question as i am really confused as to if i can actually place a claim to the halifax.

we have a secured loan we took out over 10ys ago it may even be longer. we have what i believe to be PPI on this account which in all honesty neither of us knew about until we read our yrly statement. the payment is approx £2 a month. are we able to claim this back? if so how do i go about setting the ball rolling /

cheers in advance

Hi there

Its possibly PPI.

Was the insurance put in with the loan repayment as well?

If you think it was mis sold, you just complete a reclaim questionnaire as on step 3 below, send to their head office or complaints, save a copy for yourself as well, good luck.

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step3

magpiecottage

louiser123 wrote: »

hi everyone,
we have a secured loan we took out over 10ys ago it may even be longer. we have what i believe to be PPI on this account

That would generally be good advice. A secured loan means security for the lender, not you. If you could not keep up repayments they could take your house and sell it to get their money back.

which in all honesty neither of us knew about until we read our yrly statement.

So if you had read your statements you could have raised the matter in 2001. That ought to be a valid reason for them to timebar your complaint.

[/quote]the payment is approx £2 a month.[/quote]

That closes the possibility that it was a single premium added to the loan - one of the main reasons for a complaint being upheld.

louiser123

magpiecottage wrote: »

That would generally be good advice. A secured loan means security for the lender, not you. If you could not keep up repayments they could take your house and sell it to get their money back.



So if you had read your statements you could have raised the matter in 2001. That ought to be a valid reason for them to timebar your complaint.

the payment is approx £2 a month.[/quote]

That closes the possibility that it was a single premium added to the loan - one of the main reasons for a complaint being upheld.[/QUOTE]

BEING A BIT THICK!:D does this mean that i can claim or that i cant? i dont understand timebarred ect.