Help

Swampey

Hi All

Can someone point me in the right direction.. My wife had a call to her personal mobile which we've only just recently purchased from a company chasing us to reclaim PPI on loans that we have had in the past... telling her that they think we might have a case and can claim thousands back... at a 30% charge

Strange but we havnt even bridged the subject of re claiming PPI

When she told me aI though 30% was aliitle bit steep

Now when we took these loans out in the past, We thought we had to have payment protection ?

Dont know where to go with this know... dont want some company taking the info and cant come up with the goods... then expecting to be paid for nothing

Anyone advise

di3004

Swampey wrote: »

Hi All

Can someone point me in the right direction.. My wife had a call to her personal mobile which we've only just recently purchased from a company chasing us to reclaim PPI on loans that we have had in the past... telling her that they think we might have a case and can claim thousands back... at a 30% charge

Strange but we havnt even bridged the subject of re claiming PPI

When she told me aI though 30% was aliitle bit steep

Now when we took these loans out in the past, We thought we had to have payment protection ?

Dont know where to go with this know... dont want some company taking the info and cant come up with the goods... then expecting to be paid for nothing

Anyone advise

Hi and welcome

If you think you may have a case, then I would personally have a go yourself, its straight forward with just completing a reclaim questionnaire as on step 3 below.
And probably less paperwork than that of using a claims company, they do not get it dealt with any quicker, and if you succeed by doing this yourself you get to keep all your refund.

So basically you complete the questionnaire, remember to save copies and send to whoever set up and sold the account from the start, head office or complaints dept, and post by recorded delivery.

Hope this helps, good luck.

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

Swampey

Can I ask a stupid question

If loans are taken out in joint names but the main bread winner is ill and unable to work.... would the PPI cover or would there be a get out clause cos its in joint names

There is another question what if I dont have paperwork of loans that are older than 6 years

di3004

Hi there

Polices can differ, so its always best to try to get hold of the policy booklets if you can, write to them and ask them to send you a copy, hopefully they will still hold the details from when you taken out the accounts.

It depends if the ppi covers you both or not, but in most cases, the first on the loan application is covered only, but yet the 2nd applicant is still responsible for the whole loan which includes the ppi repayments that is added within the monthly loan repayments.

What banks do you think you have cases with>?

Some, if you call in, will try searching out the data of all loans taken out with them.