Alliance and Leicester PPi reclaiming

filbertst

I took out a £4000 loan over the internet with Allience and Leicester in 2008 (October). Just recently on reviewing documents and finances etc I discovered that I have been paying PPI insurance worth £1300 alongside the loan. There is some script around the PPI being optional within the paperwork but I can vaguely recall feeling whilst although the breakdown of the cost of the loan and the PPI cover were outlined seperately feeling that it was the expected thing to accept the cover without question. I was in full time employment then and now and have sufficient benefits for sickness and would and still have other means of making the monthly payments should long term illnes occur. I have recieved cold calls from claims companies who are more than willing to make the claim on my behalf as they feel with it being a loan sought over the internet they are best placed to do this?? Any advice as I am considering making a claim myself but unsure of the exact wording due to it appearing more complicated to get internet loan claims accepted??

withabix

Start here:

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance?utm_source=forum&utm_medium=clicks&utm_campaign=resourcebar


Nothing ventured, nothing gained.

amersall

All a claims co will do is send the claim off to the bank and take a hefty fee for this, do it yourself with help from this site for free.

Is the PPI paid back to the loan with the loan each month and not paid separate to the monthly loan payment?, if it is, this is Single Premium PPI and this is the reason for mis sell that you use, this was a loan on the loan paid to term end with interest, if you cancelled the PPI they would have given you a pro rata rebate of the PPI and the remaining PPI is still on the loan to term end.
If you settled this loan early then, as above you, would have a pro rata rebate and you would have paid back the remaining PPI in with the settlement figure.
This is the reason for mis sell that you use with the reasons you state above regarding having the means to pay this back.

You can do this over the phone, have the account number and the reason for mis sell ready, that is all you have to do, why pay someone to this for you?.

http://www.santander.co.uk/csgs/Satellite?appID=abbey.internet.Abbeycom&canal=CABBEYCOM&cid=1210607166846&empr=Abbeycom&leng=en_GB&pagename=Abbeycom%2FPage%2FWC_ACOM_TemplateA2

filbertst

Thank you very much ive checked my information and think that I was definitely sold a single premium policy so am going to ring Santander tomorrow and we'll see what they have to say.
Many thanks and i'll let you know what they say