Ppi help!

lilykate5

Hi all, so many pages re PPI, thought I would add to it!!

I am currently looking into claiming back my PPI on couple old loans. I don't remember ever asking for PPI and certainly can not ever remember getting it explained to me, in fact I believe on one of my loans it was already preselected and I just signed.

My question is re an exisiting loan I have with paragon. Its a fairly large loan of £20,000 and I am paying just short of £78 a month PPI. Is it worth my while asking them for copy of my signed agreement for first? I have the 2nd copy of my agreement that they ask you to keep for files. It already has PPI premium in Key information but there are tick boxes at bottom of form asking what level of PPI cover I want and I do not know what/if I selected on original form. Can you try and reclaim even if you selected it but don't believe it was explained to you?

The loan was originally processed through loans.co.uk and can't remember how a lot of this paperwork was done. I have another 6 years of the loan left, will they cancel my loan if I try to reclaim PPI? Heard loads of horror stories re bank charges. I think I would like some protection for accident/redundancy but would like to think I can get it cheaper than £78 a month, what type of policy is recommended?

So for all the questions I am bit clueless when it comes to these insurances.

One final question are claims successful just by stating you wouldn't have taken it out had it been explained to yourself fully?

amersall

Dont think loans.co.uk are trading anymore,give fsa a ring and ask
http://www.fsa.gov.uk/Pages/consumerinformation/consumer_contact/index.shtml
They may be able to help you find out who to claim from.

When was this loan taken out?.

The loan will not be cancelled if you claim mis sell.

Google insurance policies and look at those that are on offer and make the decision to choose one that suits your circumstances.

Look here for reasons for mis sell
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step2

The loan you have may have had frontloaded ppi on,this is in effect a loan on a loan and you pay to term end with interest,this is the most upheld of all ppi,use this as a reason for mis sell if you find out this is the type you have.