Reclaiming PPI when on a DMP

Moneypenney

A few months back I went on a DMP plan, and let my loan company know of this.

Now that I have not been able to keep up with the payments my loan company has moved my debt to another company.

When I applied for the loan I did it over the phone and the sales person said I could only get the loan at the time if I took out the PPI, to which I agreed.

As I am now on a DMP and have used the PPI (i went on a payment break) can I still make a claim?

If any one can help with this it would be great.

The_Swerve

Moneypenney wrote: »

A few months back I went on a DMP plan, and let my loan company know of this.

Now that I have not been able to keep up with the payments my loan company has moved my debt to another company.

When I applied for the loan I did it over the phone and the sales person said I could only get the loan at the time if I took out the PPI, to which I agreed.

As I am now on a DMP and have used the PPI (i went on a payment break) can I still make a claim?

If any one can help with this it would be great.

payment break? are you sure thats anything to do with PPI?

Moneypenney

Yes the payment breaks are part of the PPI, as they covered me while I needed to take out time from making payments. I could take 3 months of payment breaks per year, if I needed to. Well thats what the loan company told me.

The_Swerve

Moneypenney wrote: »

Yes the payment breaks are part of the PPI, as they covered me while I needed to take out time from making payments. I could take 3 months of payment breaks per year, if I needed to. Well thats what the loan company told me.

Oh right. The loan I currently have with Lloyds at the moment allows me to take two months worth of payment breaks in a 12 month period but dont have any PPI on it....thats why I asked

The_Swerve

Moneypenney wrote: »

Yes the payment breaks are part of the PPI, as they covered me while I needed to take out time from making payments. I could take 3 months of payment breaks per year, if I needed to. Well thats what the loan company told me.

thinking about that though, it doesnt seem quite right. PPI doesnt normally cover just not being able to cover the payments!!!!

You are in a DMP, you doing that yourself or through a DEbt Management company?

amersall

Sorry to but in!,i agree with Swerve on this one,this does not seem to be ppi "as we know it" payment breaks can be taken on a loan,but the payments you dont make end up back on the loan,so you pay it back eventually.

Op needs to get the terms and conditions,the bank if telephoned can supply these,then they will know if it is ppi or just a payment break that can be taken.
On the agreement does it say ppi anywhere in the loan figures?.