We'd like to remind Forumites to please avoid political debate on the Forum... Read More »
📨 Have you signed up to the Forum's new Email Digest yet? Get a selection of trending threads sent straight to your inbox daily, weekly or monthly!
Really need some help on what I need and have to do to claim back my PPI

andyc87_2
Posts: 3 Newbie
Hello
I am trying to reclaim my PPI because I believe it was mis sold to me.
I took out a loan with my bank and have paid about £1038 in PPI. I only have the first two pages from my loan agreement. It does state on the first page how much I would be paying back including the PPI.
Do I need the full agreement that bears both parties signatures. If so how do I go about getting this? Also when I have recieved this, what steps are needed next?
If somebody can give me some guidance I would be much appreciative.
Thank You
Andy
I am trying to reclaim my PPI because I believe it was mis sold to me.
I took out a loan with my bank and have paid about £1038 in PPI. I only have the first two pages from my loan agreement. It does state on the first page how much I would be paying back including the PPI.
Do I need the full agreement that bears both parties signatures. If so how do I go about getting this? Also when I have recieved this, what steps are needed next?
If somebody can give me some guidance I would be much appreciative.
Thank You
Andy
0
Comments
-
Hi,
First of all, have a read of the guide: http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance?utm_source=forum&utm_medium=clicks&utm_campaign=resourcebar
Provided you have the loan number, you don't need the whole agreement. The most important thing to understand (in order to make your complaint) is why you feel it was missold. This is where the guide can help, because it explains how misselling happened.
Once you've clarified for yourself whether it was missold, you then contact your bank to make a complaint. You can do this by letter, by phone, possibly by email, or by completing a questionnaire (which you will find as part of the guide).0 -
You can complain but simply having the cover does not mean it was missold and the fact that you have full cost details suggests it was not missold.0
-
Hiya Thank You both for your replies.
My situation was when I agreed to my personal loan, I was told that if I did not have PPI then this would result in the APR being higher.
So I'm a little confussed because I feel I was forced to buy the PPI so it would keep the APR lower. I was only 19 years old at the time and money was really tight so I didnt really have any choice.
I also stated to the lady that I was soon to be made redundant, she said thats fine, im not sure if that makes any difference too.
Thank You for your time to reply
Andy0 -
My situation was when I agreed to my personal loan, I was told that if I did not have PPI then this would result in the APR being higher.
That may be true. A loan with PPI would represent a lower risk to the lender than one without and risk is a major factor in determining the APR.
Whether it IS true, and whether it made taking the cover worthwhile are different questions. If the answer to either is no then you may have a case.0
This discussion has been closed.
Confirm your email address to Create Threads and Reply

Categories
- All Categories
- 351.4K Banking & Borrowing
- 253.3K Reduce Debt & Boost Income
- 453.8K Spending & Discounts
- 244.4K Work, Benefits & Business
- 599.7K Mortgages, Homes & Bills
- 177.2K Life & Family
- 258K Travel & Transport
- 1.5M Hobbies & Leisure
- 16.2K Discuss & Feedback
- 37.6K Read-Only Boards