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PPi Claim by ismart
jualnorm210608
Posts: 2 Newbie
Hi could somebody please help me?
in 2010 when the first ppi claims came out i went to ismart over my GE Money homelending loan to claim back ppi.
The orginal loan was for £25000 and when we received the cheque there was a £7500 insurance amount on top, i called and queried it and they said it was to late and had to stay on the loan.
i went to ismart some years later in 2010 and we succesfully reclaimed the money back off freedom finance and i think the amount settled was £2000 of which we received £1500.00 i spokje to ismart and said so would my payments go down as i was obviously receiving back part of the money paid but when i got my loan statment the £7500 is still on the loan amount, now i wouldnt have minded that the payments didnt go down, but we are still paying the insurance, i tried speaking to ismart and be honest they didnt have a clue.
on a plus side i have now reclaimed other ppi loans myself so i havent had to pay comission to claims companies
in 2010 when the first ppi claims came out i went to ismart over my GE Money homelending loan to claim back ppi.
The orginal loan was for £25000 and when we received the cheque there was a £7500 insurance amount on top, i called and queried it and they said it was to late and had to stay on the loan.
i went to ismart some years later in 2010 and we succesfully reclaimed the money back off freedom finance and i think the amount settled was £2000 of which we received £1500.00 i spokje to ismart and said so would my payments go down as i was obviously receiving back part of the money paid but when i got my loan statment the £7500 is still on the loan amount, now i wouldnt have minded that the payments didnt go down, but we are still paying the insurance, i tried speaking to ismart and be honest they didnt have a clue.
on a plus side i have now reclaimed other ppi loans myself so i havent had to pay comission to claims companies
0
Comments
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If you received the money as a cheque then your loan will not go down.I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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i understand that but the insurance was for £7500 and we only received £2000 surely the loan amount should have been reduced by £55000
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Were you in arrears or had defaults or amounts written off to reduce the debt?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0
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