ppi who to claim off or to?

codfather

Hi Folks,

I took out a secured loan with loans.co.uk which included ppi. Who do i complain to for mis-selling? It is now administered by a company called ascenden.

Any help or advice would be appreciated.

Thanks in advance.

Cod.

di3004

codfather wrote: »

Hi Folks,

I took out a secured loan with loans.co.uk which included ppi. Who do i complain to for mis-selling? It is now administered by a company called ascenden.

Any help or advice would be appreciated.

Thanks in advance.

Cod.

Hi and welcome

You actually make the complaint to the ones who arranged the loan, they are the ones responsible.

As long as you have your account number and your reasons, do not worry about the paperwork right now, you can continue to make the reclaim.

Reclaim questionnaire step 3 below, keep copies in case you need to refer back to it at some point.

Good luck.

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step3

magpiecottage

Why do you think it was missold?

codfather

The broker was loans.co.uk but i thought they had gone out of business.

I think it was mis-sold because its single cover for a joint loan, i had no idea it wouldnt run for the whole time of the loan, nor did we know we paid interest for the whole term either. we felt we wouldnt get the loan if we didnt take, they sort of implied its easier to get the loan with it. My job pays 40 weeks full pay which i told them about.

Thanks for any help,

Cod

amersall

This is front loaded ppi, to make it worse you pay the ppi back over the whole term of the loan with interest but the ppi does not cover you for the whole term so this will cost you thousands in interest and no cover to boot.
What year was this loan taken out?.

magpiecottage

Write to Loans.co.uk at

Stansfield House
Chester Business Park
Wrexham Road
Chester
Cheshire
CH4 9FB

Keep a copy and get proof of posting (free from Post Office) - no need for Recorded Delivery

or fax to 01244 672 190 (keep the fax receipt).

codfather

The loan was taken out in January 2005 and is still running.

Thanks for the address, i assume thats where i send any claims / complaints.

amersall

That is the correct address.

codfather

Many Thanks to all for your advice, i have received a letter from Loans.co.uk saying thay will uphold my complaint. They didnt state how much compensation it would pay but said it would be full return of ppi policy amount plus associated interest. If i posted the details on here, would anyone be able or willing to workout roughly how much it would be?
Thanks,
Cod.

amersall

Well done, post the figures up when you get them.

codfather

The total loan was 37212 over 15 years at 12%
The ppi was 3987 and only ran for 5 years.
It was taken out in january 2005.
Thanks.