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AM i able to claim
white_rosette
Posts: 16 Forumite
Hi I was wondering if anyone could advise me if i am able to reclaim my PPI. It's a bit of a long story so please stay with me!
In 2002 I took out a loan with Northern Rock to buy a car. I arranged most of the loan over the phone and i am sure that at the time I said i did not want PPI. The company then sent me the agreement to sign and send back to them, which I did. The car would be driven by my partner and he was helping to pay for it. In 2004 we split up, it was an unamicable split but leaving him quite probably saved my life and as i was desperate to have as little to do with him as possble I agreed that as the loan was in my name i would continue to pay it. However paying this and a few other debts meant that i was struggling financially and I went onto a debt management plan. So instead of paying the company the agreed monthly payments i paid them what i could afford. I was on the debt managment scheme for about 4 years. During this time the debt management company pointed out to me that i had PPI on this loan and suggested ringing Northern Rock to ask them to take the PPI off. I'm not sure how it worked out but Northern Rock said that it would not make any differenced to how much i owed, and i think that my contracted monthly payments would have gone up slightly. I asked them for a copy of the loan agreement to see if it said that there was PPI on there as i was sure i said no at the time. Indeed it does say Yes to payment protection on the agreement although this is typed in by the company and not myself although i have signed the agreement.
I came off the debt management scheme last year, as i agreed to set up direct debits with all the companies that i owed money to and as i was not paying the debt management people a fee any more i could afford to pay a bit more. I have managed to clear all my other debts except the Northern Rock one, i am still paying them montly but it is still a reduced rate compared to what the agreed monthly payment is.
Would i be eligible to claim back the PPI?
In 2002 I took out a loan with Northern Rock to buy a car. I arranged most of the loan over the phone and i am sure that at the time I said i did not want PPI. The company then sent me the agreement to sign and send back to them, which I did. The car would be driven by my partner and he was helping to pay for it. In 2004 we split up, it was an unamicable split but leaving him quite probably saved my life and as i was desperate to have as little to do with him as possble I agreed that as the loan was in my name i would continue to pay it. However paying this and a few other debts meant that i was struggling financially and I went onto a debt management plan. So instead of paying the company the agreed monthly payments i paid them what i could afford. I was on the debt managment scheme for about 4 years. During this time the debt management company pointed out to me that i had PPI on this loan and suggested ringing Northern Rock to ask them to take the PPI off. I'm not sure how it worked out but Northern Rock said that it would not make any differenced to how much i owed, and i think that my contracted monthly payments would have gone up slightly. I asked them for a copy of the loan agreement to see if it said that there was PPI on there as i was sure i said no at the time. Indeed it does say Yes to payment protection on the agreement although this is typed in by the company and not myself although i have signed the agreement.
I came off the debt management scheme last year, as i agreed to set up direct debits with all the companies that i owed money to and as i was not paying the debt management people a fee any more i could afford to pay a bit more. I have managed to clear all my other debts except the Northern Rock one, i am still paying them montly but it is still a reduced rate compared to what the agreed monthly payment is.
Would i be eligible to claim back the PPI?
0
Comments
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Yes you can,look here for reasons for mis sell
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step2
Use any/all that apply to you.
You can email a complaint in if you want to.
customerrelations@n-ram.co.uk
They could offer you the option of an redress paid to you or taken off the loan,even when you have arrears,this is what they usually do.
As you have been on a DMP this may be different,they could take the redress towards the remaining balance of the loan.0 -
Well i did it. Filled in the forms from this website and sent them off. After a string of letters saying "thank you for waiting we are still looking into your complaint" i was expecting a letter saying sorry but no.
Instead this morning i got a letter saying that they are taking the PPI part off of my loan. They are refunding me the PPI and the interest. The money that they are refunding me is enough to clear the balance of the loan and there is still £1,700 left over that will be going into my bank account.
That means that for the first time since walking away from my abusive ex i am completely and utterly debt free! And i intend to stay that way!0 -
congratulations
Defaultless as of 12th Sept 2012BugsyBrowne wrote: »Listen here default Dave why don't you take your bullsh*t and stick it up your defaulted ar*e and then stick your defaulted credit report and stick it in your defaulted gob.0
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