Cahoot Loan insurance mistake?

star69_2

Hello

I have had a flexible cahoot load for about 13 months and due to the awful hike in interest im paying all off in feb, about £400 left. However on investigation i have noticed that they have charged me for Loan insurance every month, i know i should have checked but its quite tricky on the cahoot website unless you go into things, i was just under the impression that they were taking £60 payment each month.

Anyway i have calculated that they have taken £300 in PPI over the year, i never asked for it, i never do,i have asked for the original agreement that i signed to be sent to me and they have. There is no mention of PPI and i never signed anything to say that i wanted this.

So in thoery can i ask for this money back? and if they refuse is there some financial body i can complain to ?

thanks

Astaroth

Financial Ombudsman Service is the vehicle for complaints about lenders however you must first exhaust the complaints process with the company itself.

Write to them outlining you never asked for it and for them to provide evidence that you did.

With many of these online applications it is defaulted that you have it unless you deselect something to say you dont want it