PPI Claimbck

Keeta

After sending the first letter provided on this site to claim back PPI I have recieved the following reply from a loan company:

"Further to your request for your loan agreement and statement of account pursuant to sections 77 and 78 of the consumer credit act 1974, we would like to inform you that the account is not a Consumer Credit Act regulated loan because it is an exempt agreeent in accordance with section 16 of the consumer credit act."

This is like a frogien language to me could anyone explain this to me and does this mean i would not have had PPI?

Many Thanks

bigadaj

What was the loan for and when did it complete.

They are basically saying you don't fall under a certain type of loan, however this should be irrelevant as if you did have PPI then whether you get a fund is down to whether it was appropriate for you, it could be o a mortgage or anything else.

They still should be able to supply a copy of the co tract, even if it's reconstituted.

arcon5

I think a lot of the companies are now making it harder to claim.

The problem with this whole PPI issue is it is no longer those that was mis-sold it that are trying to reclaim, but also every tom, !!!!!! & harry who was legitimately sold it but now jumping on the band wagon to get their money back.

tomsco

arcon5 wrote: »

I think a lot of the companies are now making it harder to claim.

The problem with this whole PPI issue is it is no longer those that was mis-sold it that are trying to reclaim, but also every tom, !!!!!! & harry who was legitimately sold it but now jumping on the band wagon to get their money back.

Indeed. I definetly agree with the ruling, but now with eveyone trying to claim it I can just see it being passed onto the customer with higher fees.