PPI Advice please

latte7770

Having read quite a lot of posts on here I'm a bit lost (probably an understatement) but would appreciate any help given.

I currently have a loan with Beneficial Finance and having looked out the loan agreement notice I'm paying PPI. My husband and I are both civil servants and therefore would be covered well in the event of redundancy or sickness. We also have life insurance and critical illness on our mortgage. At the time it was a consolidation loan, part of which paid off an earlier loan with the same company. We were made to feel we needed to take this cover out at the time for the loan to be accepted.

Apart from that I have two questions:
1. On the agreement it states that we would use our employer accident and sickness benefits for other purposes however I can't see why we would have thought that with our mortgage being covered. Would this mean that we cannot use the fact we both had decent cover from our employer as a reason for mis-sell?
2. I've tried to get my head round this front loaded thing. Looking at the agreement it states cost of optional ppi, interest payable and total amount repayable in one column (under PPI heading). In the next column it states loan amount, interest payable and total amount (under loan heading).
Can someone please explain what front loaded is? It looks like I am paying interest on the PPI but not sure.
Thanks

amersall

I've tried to get my head round this front loaded thing. Looking at the agreement it states cost of optional ppi, interest payable and total amount repayable in one column (under PPI heading). In the next column it states loan amount, interest payable and total amount (under loan heading).

This is front loaded and you pay this to term end with interest,a good reason for mis sell on it's own plus the benefits you already had from work.
What year was this loan taken out?.

If you put a claim in for mis sell put that other loans were consolidated also, they would most likely have the front loaded PPI too and the remaining PPI from each loan after the rebate they gave you when you settled would have been carried over to the next loan and so on.

davidh025c

Just a note, I was Armed Forces and I currently am a civil servant, Both very strong factors my Blackhorse PPI mis-selling claim was upheld (there were others, front-loaded being one too). Really didn't need PPI with the sickness cover and potential redundancy package should it ever be needed. Good Luck

latte7770

Thanks for the replies.
One loan was taken out in August 2007 and ends next year - this one was the consolidation loan (not sure when the original was taken out though). I've also found another with the Yorkshire Bank which I signed on 17/05/2006, for five years which is finished. This looks front loaded aswell so will try on both of these. Fingers crossed.

Might even chance it will an old Egg credit card which closed in 2007 although I think this would be down to whether it was a pre-ticked box on line. I will be asking for a SAR on this.

amersall

Good luck and let us know how you get on.