PPI - Sainsbury's Bank - online loans cant work out if PPI charged

BungleBungle

Hi,

I was wondering if anyone has come across the same problem as me when trying to establish whether they were charged PPI by Sainsburys Bank. I took an Online loan from the sainsburys bank website in 2004 for 15k. I had paid the loan off (sold the car i bought) a few years ago and had no paperwork.

I recently wrote to Sainsburys Bank to request the laon agreement and for them to clarify whether any PPI product or charge was added. They send me a copy of the loan agreement but didn't answer my PPI query:mad:. The loan agreement is a 1 page summary document which says the loan and interest but doesn't have a mention about PPI explicity, though there is a box which says sign to say you authorise any PPI product (which I didn't sign).

Does anyone know if Sainsburys automatically added PPi into the loan replayment without imforming customers? Also, I've seen some reference to bronze and silver ppi insurance being sold from Sainsburys and it seems to be ringing some bells - does anyone know whether these were applied to Sainsburys bank loans around this time?

A lot to ask but here's hopin!

BungleBungle

dilus

BungleBungle wrote: »

Hi,

I was wondering if anyone has come across the same problem as me when trying to establish whether they were charged PPI by Sainsburys Bank. I took an Online loan from the sainsburys bank website in 2004 for 15k. I had paid the loan off (sold the car i bought) a few years ago and had no paperwork.

I recently wrote to Sainsburys Bank to request the laon agreement and for them to clarify whether any PPI product or charge was added. They send me a copy of the loan agreement but didn't answer my PPI query:mad:. The loan agreement is a 1 page summary document which says the loan and interest but doesn't have a mention about PPI explicity, though there is a box which says sign to say you authorise any PPI product (which I didn't sign).

Does anyone know if Sainsburys automatically added PPi into the loan replayment without imforming customers? Also, I've seen some reference to bronze and silver ppi insurance being sold from Sainsburys and it seems to be ringing some bells - does anyone know whether these were applied to Sainsburys bank loans around this time?

A lot to ask but here's hopin!

BungleBungle

Hi BungleBungle,
I took a loan with Sainsbury's (Lloyds) in 2004, It was bankrolled by Bank of Scotland (Lloyds) and had PPI automatically added upfront with no mention of it whatsoever to me. The Silver PPI was supplied by St Andrews (Lloyds) Bronze, Silver or Gold was never mentioned, they just added what they liked, or rather what they thought they could get away with. I was never asked about my work situation at the time and what provisions I had in place to guarantee repayment by me, so how they arrived at Silver cover is beyond me. I would bet my bile duct that your loan was the same, at that time they did everything they could on the paperwork to disguise the fact that you were paying PPI, even statements didn't mention it. Get a questionnaire filled in, copy the agreement they have sent you, highlight the fact that you never signed for it, didn't need it and was never questioned about your situation at the time. It will have been front loaded which is a big NO NO. Go for it good luck and keep us posted

BungleBungle

Thanks Dilus,

Thats what I'm thinking - that it was an auto added amount and that I just dont see the visibility. I'm going to write again and ask them to be explicit as to whether the loan has ppi or not.

BungleBungle

dunstonh

If it was in the amount you borrowed then the amount you borrowed would either be increased on the agreement or it would show as an entry on there.

Thats what I'm thinking - that it was an auto added amount and that I just dont see the visibility.

if that was the case then it would be on the agreement one way or another. They cannot charge interest on the premium unless it is on the agreement.

dilus

dunstonh wrote: »

If it was in the amount you borrowed then the amount you borrowed would either be increased on the agreement or it would show as an entry on there.



if that was the case then it would be on the agreement one way or another. They cannot charge interest on the premium unless it is on the agreement.

It was indeed visible on my agreement as a separate amount to the loan amount but there were other parts of the agreement that were specific to "insurance cover" that were left BLANK. No figures at all (despite there being gaps for figures to be put in) to show you how much it was costing you per month, hence the reason I say they did all they could on the paperwork to disguise it to an untrained eye. Also statements never separated the loan from the PPI, it was just a single figure. The way the paperwork was worded certainly made me think I wasn't paying for PPI. The fact that PPI was never mentioned verbally at any stage of the application process and the fact that the BLANKS I mention above existed on the paperwork back up my argument. If these BLANKS had been filled in with £60 per month for insurance I would have definitely questioned it and said I didn't need it or sought cover elsewhere cheaper.