Making a claim on a loan using PPI

Grayo

Hi All

I'm new to the forum so apologies if I have put this in the wrong place. I am not making a claim to reclaim PPI on a loan but I am making a claim using PPI to pay off a loan. I took out a loan of £20,000, (£26,000 with PPI) in 2006, I was working at the time and had no problem in paying the loan off. Two years after taking the loan out I developed a serious heart condition and was advised by my Consultant and my GP that due to my heart condition I should finish work on health grounds. With the backing of my Consultant and GP and also my company health adviser I applied for early retirement on health grounds which was granted. I have now been retired for over three years successfully using the PPI on my loan to pay off the loan.

All I have had to do in the last three years is send in a signed insurance certificate from my doctor once a year and the PPI was credited to my bank account then paid to the loan company via direct debit. About four weeks ago a man came knocking my door asking to see me regarding my loan, he said it was a review and asked a lot of questions while filling out a form which he then asked me to sign at the end.

Today I have received a letter from the loan company with another form for me to fill in and also asking for my doctors name and address and also my consultants name and address, they also want to know the address of the benifits agency and also the address of my tax office. All I am claiming is incapacity benefit, Disability Living Allowance, and I have a small pension from work which I pay tax on. In total I get around £900 in benefit and pension a month.

My question is has anybody else had somebody come knocking there door and have a load of forms to fill in when making a claim on a loan is this normal procedure.

Thanks in advance

Grayo

ppi-advisor

Hi Grayo,

Obviously you have a nice policy in place for the PPI which is saving you from paying the loan of yourself.

With the procedures the Loan company have in place. You need to understand that they are paying large amounts on your behalf and from time to time will need to double check the clients situation and gather evidence.

Unfortunately there are plenty of people out there who take advantage of the system and rip off the loan companies for alot of money using a disability tactic.

This does not mean that they are accusing you in any way, they just need clarification that you are still actually in need of help.

Regards

Grayo

Hi, Thanks for the reply. Why would they want the address of my benefit office and tax office though. I can understand them checking with my consultant and doctor but just don't understand why they want to contact benefit and tax office????

Thanks

Grayo

dunstonh

If a moderator sees this thread, can they please move it to the insurance forum as its off topic for this section and those that can answer will be in the insurance section and not this one.