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Firstplus Query re PPI
WelshRob_3
Posts: 7 Forumite
Hello, hope someone can clarify.
I successfully managed to claim back the PPI added to my loan last year. The 5 year PPI policy that was added to my loan came to an end in November 2011 and I received a letter to advise me that I would be advised to look at investigating alternative PPI cover to cover my loan in case of illness. Fair enough I thought.
However, Firstplus are still collecting the same monthly premium from me as before. I contacted them saying that as the policy had ended surely they should revise down the monthly instalment (especially as I would also now have to pay an additional insurance premium to a company I found if I decided to protect the loan).
Firstplus have replied saying that the monthly premium will remain the same as the amount was calculated over the full term.....
I am confused. Surely this isnt right? Can someone advise?
Many thanks:(
I successfully managed to claim back the PPI added to my loan last year. The 5 year PPI policy that was added to my loan came to an end in November 2011 and I received a letter to advise me that I would be advised to look at investigating alternative PPI cover to cover my loan in case of illness. Fair enough I thought.
However, Firstplus are still collecting the same monthly premium from me as before. I contacted them saying that as the policy had ended surely they should revise down the monthly instalment (especially as I would also now have to pay an additional insurance premium to a company I found if I decided to protect the loan).
Firstplus have replied saying that the monthly premium will remain the same as the amount was calculated over the full term.....
I am confused. Surely this isnt right? Can someone advise?
Many thanks:(
0
Comments
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Hi, anyone got any thoughts on this?
Thank you0 -
Do you mean monthly premium or monthly repayment?0
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