Tesco Personal Finance - PPI Claim (Loan Closed - 2003)

Ms-Money-Penny

emmareid12 wrote: »

How long from start to finish did it take them to sort out your complaint? Its been nearly 8 weeks and they're still waiting for 'internal information'. Not sure what i'd do when it actually comes to the '8 weeks'. Just sit tight?

It took about 16 weeks in all, just a matter of sitting and waiting unfortunately.

jnsndgrss

I have just received a PPI questionnaire from Tesco Bank with a cover letter that states it 'has reviewed the sales of PPI in the period between January 2005 and December 2007 and has identified there may be some potential issues with the sales process'.

It asks if i 'understood at the time of sale' about the PPI insurance on a loan sold to me in 2006 and closed in 2011. I didn't think that i had taken/paid for PPI but reviewing my agreement i did. I know that i wouldn't have agreed to or asked for it, however I am not so sure that i can make a claim as on the the reverse of the agreement in the terms and conditions it states that 'for a short time after the agreement is made there is a statutory right to cancel the optional Payment Protection Insurance.' Which i presume would put the responsibility on me for not reading the agreement thoroughly enough.

I applied for my loan over the phone and don't recall being told about PPI, and if i had i'm sure i would have refused it. I used their courier application service and I do remember when the courier arrived i wanted to have time to read through the agreement but felt pressed by the courier just to sign the papers so he could be on his way. I quickly read over the key financial information section where it states the loan, term, total amount payable including the PPI, instalment repayments and APR and didn't get time to read all the small print.

In this instance i was extending an existing Tesco Bank loan and so this new loan was used in part for refinancing the old loan which i vaguely recall having cancelled the PPI on on the grounds that i was fit, healthy, employed full time and couldn't see my circumstances changing during the term of the loan but i can't find the paper work for this original loan.

Would i still have a claim in this situation?