Anyone tried to claim from Everyday Loans?

angelin

I have all the contracts which say "Lin advises she will be covered by sickness pay" "Lin tells us that there will be a lump sum in the event of her death" Lin tells us she is covered already, basically. I don't hold out much hope.

tomc87

I have recently claimed back PPI from Capital One after sending a very basic letter saying "I know I had it, I know I didn't need it and believe it has been mis sold. Please look into this for me. If you decide it wasn't mis sold I would like to request all the relevant documents relating to my account so I can look into this further" After 10 weeks I got £200 back!

I also knew I had PPI with Everyday Loans and KNOW it was mis sold I was however aware that I signed documents to say I did need it and why because I was bullied into doing so. I tried my luck with them but was sent the documents that I signed saying I “needed and wanted” them.

I remember clearly going into their offices for the loan in desperation after getting out of control Pay Day Loans. It wasn't hard for them to sell me a high interest loan as it was obviously better than Pay Day Loan rates and they knew I was backed into a corner. When asked about PPI I told them I had it with Capital One so didn't need it. The lady tried very hard to sell it to me claiming Capital One's cover was rubbish, too expensive, didn't have many features theirs did and often doesn't pay out. I said I still don't need it as if in the very unlikely situation I did need it I have family that can and will help me out. At this point she turned very stroppy and aggressive and started "doubting my credibility for the loan". She said she would go and "ask her manager if we can still accept the loan without PPI" she came back and said that it is very unlikely I would get the loan without PPI as it shows that I am an irresponsible borrower. I panicked and agreed to the PPI. Straight after I was made to sign a document with various sections explaining "Why I wanted the PPI and how it benefitted me". When I questioned if there was a section I could put down "look like a responsible borrower " she seemed pretty agitated and started suggesting I put reasons such as "In case of my death I don’t want my family to be responsible for me debt" as this made me look more responsible. So I just did what I was told, signed the document and got my money.

It seems Everyday Loans are using very immoral tactics in mis selling PPI but are covering their backs in doing so. It seems they are praying on vulnerable people and when they smell blood and know someone is desperate for a loan they can manipulate them in every way. This for me is worse than the current standard PPI mis selling as this is forcing them into it and then forcing them into signing documents to say they want and need it!

I never pursued my claim with them because of this document and because I thought others in my position also would not so I had no chance. I also doubted that there were many that this has happened to and it may have just been this one sales lady using these tactics to boost her sales. I can now see this is not the case.

Would it be worth appealing for anyone else who has had this experience with Everyday Loans and making a group complaint. If one person claims this against signed documents it sounds like they are trying their luck but if we get 10, 20 or 100 people in the same position it would prove Everyday Loans are using this horrible tactic and prove they have indeed mis sold PPI.

I am now confident many people are in this position as their statement saying many of their customers took out PPI because "it is good value for money" is bogus and the reason so many of their customers have lost out on their claims is because of their disgusting and immoral selling tactics.

I will now write another letter to Everyday Loans and inform them that it is my final letter and that my intention is to go to the Financial Ombudsman which I will do and make an individual claim. I will also go to OFT and Watchdog regarding this and would encourage anyone else in my situation to do so also. I will also send posts out on every Financial Advice forum I can find and ask anyone who are also in my position to contact me so we can compile a case against them.

Companies like Everyday Loans should be brought to account and stopped.

Tom C

Lipa_PL

I have been 'forced' to buy PPI in the same way... No PPI no loan, so I would be happy to take part in group complaint if anyone is seriously thinking about putting one.

[Deleted User]

Lipa_PL wrote: »

I would be happy to take part in group complaint if anyone is seriously thinking about putting one.

No one is.

p4nc4ke

Just incase anyone else finds this thread through a google search like I have, I have done some research on some ombudsman decisions regarding PPI claims against everyday loans.

It seems they are not making decisions in peoples favour if they simply claim they were told it was compulsory (like I was).

As the paperwork states it is optional, without any evidence to the contrary they cannot uphold a complant.

However, they are deciding in peoples favour for the following reasons:

PPI payments being given on documents as average monthly costs - this "This meant that the share of each monthly payment which was used for the PPI premium was bigger at the start of the loan period, when the loan balance was highest. And the share
applied to the loan itself would’ve been less than Mr X might’ve expected, until later in the loan period".

Life cover recommended for those with no dependants - they should not have recommend this for me. They suggested it would help prevent my parents from having to deal with my debt if I were to die. They wouldn't have to. I have this in writing on the PPI form - you might do too.