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PPI on Secured Loan
davetheman
Posts: 359 Forumite
Discharged 2 years ago and the Secured Loan PPI has gone to the OR, the PPI I am still paying for so seems odd. Is it worth contacting the OR about this. Debating on if it worth keeping the property now
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Comments
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Errrr, ooohhh, ummmm, dunno on this one - BUMP!When I joined, I needed a name. The forum members gave one to me...I am INAN
"Fortunes ebb and flow and a boat must move with the tide and be thankful that it floats." Judith Allnatt0 -
Have a look here, it maybe of some use to you:)
https://forums.moneysavingexpert.com/discussion/3461629:pB&SC No. 298
Life`s Tragedy is that we get OLD too soon
and WISE too late!0 -
OP - Does that other thread help enough?
I read it that partly you are wondering if it's worth continuing to pay for a PPI that may have been missold anyway and therefore not worth having. But also partly what will happen to the secured loan if you do stop paying the PPI and then whether it's worth keeping the property or if you would be better letting it get repossessed so the secured loan becomes unsecured and drops into your BR.
Something like that anyway. Another BUMP to see if anyone is able to elucidate.When I joined, I needed a name. The forum members gave one to me...I am INAN
"Fortunes ebb and flow and a boat must move with the tide and be thankful that it floats." Judith Allnatt0 -
davetheman wrote: »Discharged 2 years ago and the Secured Loan PPI has gone to the OR, the PPI I am still paying for so seems odd. Is it worth contacting the OR about this. Debating on if it worth keeping the property now
Do I understand this correctly?
Am I right in thinking that the OR has made a miselling claim as the ORs 'right of action' from the asset of the bankrupt, and taken the payout?
If that is the case then there is no PPI policy in place, so why would you be paying it?
The fact whether you want to keep the property has nothing to do with the PPI, PPI is not compulsory (thats how a lot were mis sold!)
Am I missing something else?
DDDebt Doctor, Debt caseworker, Citizens' Advice Bureau .
Impartial debt advice services: Citizens Advice Bureau Find your local CAB *** National Debtline - Tel: 0808 808 4000*** BSC No. 100 ***0 -
Nothing to do with misselling, the PPI gave is a refund after 5 years0
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