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Santander Loan Advice
markb84
Posts: 1 Newbie
Hi, I was wondering if someone could offer me some quick advice.
I recently discovered that I had 2 loans from 2005/2006 which both had PPI on them, which I have started the process of reclaiming. I was shocked to find that this had been included as I have always declined this insurance when asked. I know this for a fact. I receive full company sick pay from work when I am absent and therefore have never needed PPI.
On the back of finding out that I had this insurance on those 2 loans I decided to do a little research on my credit report and have discovered a loan that I have with Santander that seems to have a very high repayment figure.
The loan was for £5850 over 48 months and the repayments are £162 per month, this gives a total figure of £7776. I can't find the original agreement of this loan which is quite disappointing, the only thing I have located is the confirmation letter stating that amount being paid into my bank account.
The loan was taken in February 2011.
Two things I was looking help with - does this sound like a loan that PPI was added onto? I had a previous loan with the Santander for £5000 and the total repayments on it came to £5664 (£118 over 48 months) - paid off just before this loan incidentally. And this latest total of £7776 seems to be a considerably higher rate.
The second thing I wanted to ask is, if PPI has been sold, I believe it has been mis-sold, for the very reason that if I had clearly known I was being sold it I would have declined. I have never knowingly taken out PPI because I have always worked for the same employer and always been entitled to full company sick pay. The only thing is, with this being only last year and the PPI issue being trawled through the courts, how could this have happened? Have I been naive?
Thanks for any help any of you can give.
Best regards
I recently discovered that I had 2 loans from 2005/2006 which both had PPI on them, which I have started the process of reclaiming. I was shocked to find that this had been included as I have always declined this insurance when asked. I know this for a fact. I receive full company sick pay from work when I am absent and therefore have never needed PPI.
On the back of finding out that I had this insurance on those 2 loans I decided to do a little research on my credit report and have discovered a loan that I have with Santander that seems to have a very high repayment figure.
The loan was for £5850 over 48 months and the repayments are £162 per month, this gives a total figure of £7776. I can't find the original agreement of this loan which is quite disappointing, the only thing I have located is the confirmation letter stating that amount being paid into my bank account.
The loan was taken in February 2011.
Two things I was looking help with - does this sound like a loan that PPI was added onto? I had a previous loan with the Santander for £5000 and the total repayments on it came to £5664 (£118 over 48 months) - paid off just before this loan incidentally. And this latest total of £7776 seems to be a considerably higher rate.
The second thing I wanted to ask is, if PPI has been sold, I believe it has been mis-sold, for the very reason that if I had clearly known I was being sold it I would have declined. I have never knowingly taken out PPI because I have always worked for the same employer and always been entitled to full company sick pay. The only thing is, with this being only last year and the PPI issue being trawled through the courts, how could this have happened? Have I been naive?
Thanks for any help any of you can give.
Best regards
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