ppi help please

queenie50_2

Hi - have had Yorkshire Bank loan for at least 8+ years and have according to Aviva one ppi policy in force and 3 expired policies. I have loan agreements for 2 of the loans - have added to original loan and cleared existing loans and increased loan amounts what I think must be 3 times, due to 4 ppi policies having been in place.

The earliest loan agreement I have is dated 2004 but I think I had an earlier one than this, as 'purpose of loan' details include repayment of loan.

I am currently paying reduced payments for 3 months and have had a previous 6 month reduced payment agreement immediately before this, due to financial difficulties.

I am employed and have been for the duration of the loan and think I have been mis sold ppi, as I have very good sick pay cover and my employer offers generous redundancy package - public sector employee.

I am considering trying to reclaim ppi, however, I am worried that YB will immediately upon receipt of the claim, demand full payment of the outstanding 9K.

Any advice gratefully received. Thanks.

misschicken

Hello Queenie

They won't demand full payment of the loan but if they do uphold your complaint the refund will go towards the outstanding loan. If there is anything left over it will then come to you. The most important thing is to have a valid reason why you believe you were mis-sold. There's lots of info on reclaiming PPI on loans here. ........

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

There is also a dedicated PPI forum here.......

http://forums.moneysavingexpert.com/forumdisplay.php?f=169

If you decide to go ahead with your claim please don't be tempted to use a Claims Management Company - they will charge you on average 30% of any refund for doing little more than sticking a stamp on an envelope and will expect you to find this money out of your own pocket if the refund is paid towards your loan.