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Need help with my loan Protection
Hi everyone
Just wondering if anybody had been in my situation and if anyone had any tips on how I can get out of it.
Basically last year I applied for my first loan with Alliance and Leicester (didn't really know what I was after properly and the 'Friend' I had helping didn't really know either) after using money supermarket.com to help me find the cheapest , firstly I didn't get the APR I was hoping for but then it's my mistake I was in a rush to get one and went along with it.
I then opted for the loan protection scheme with them, only to be told several months into my loan that maybe that wasn't such a good idea as they charge you way too much and I could have gotten a better one through a different company (this through a family member).
So I called Alliance & Leicester to see if there was any chance in me cancelling it and would I be able to get out of paying it, I was told on the phone that I would need to write to head office cancelling my cover and only then would they give me a decision as to how much they would give me back.
I don't want to go ahead and cancel the cover if I'm still going to have to pay it or most of it as I may aswell just stick with that. Does anyone know how I can go about finding out first before I confirm with them that I wish to cancel and get cheaper cover?
Any help with this would be much appreciated.
Thanks P x
Just wondering if anybody had been in my situation and if anyone had any tips on how I can get out of it.
Basically last year I applied for my first loan with Alliance and Leicester (didn't really know what I was after properly and the 'Friend' I had helping didn't really know either) after using money supermarket.com to help me find the cheapest , firstly I didn't get the APR I was hoping for but then it's my mistake I was in a rush to get one and went along with it.
I then opted for the loan protection scheme with them, only to be told several months into my loan that maybe that wasn't such a good idea as they charge you way too much and I could have gotten a better one through a different company (this through a family member).
So I called Alliance & Leicester to see if there was any chance in me cancelling it and would I be able to get out of paying it, I was told on the phone that I would need to write to head office cancelling my cover and only then would they give me a decision as to how much they would give me back.
I don't want to go ahead and cancel the cover if I'm still going to have to pay it or most of it as I may aswell just stick with that. Does anyone know how I can go about finding out first before I confirm with them that I wish to cancel and get cheaper cover?
Any help with this would be much appreciated.
Thanks P x
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