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Is Rbs Loanguard not PPI?
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ljp33
Posts: 1 Newbie
Dear All
Looking for some advice I have a personal loan with RBS and have Loanguard insurance on the loan. I called the RBS PPI concern phone number and the advisor told me that Loanguard is not PPI on a loan and only considered PPI on a mortgage or an overdraft. I am confused as don't see what the difference is its all surely some form of loan?
The Loanguard Insurance was for £2500 on a loan over 60 months which I am one payment from clearing. I certainly did not realise it was optional at the time of taking out the loan I was told that I would not get the loan if the insurance was not purchased, despite being in a full time permanent job with a mortgage and husband etc.
May be the case that its not considered PPI but just wanted to check.
Thanks!
Looking for some advice I have a personal loan with RBS and have Loanguard insurance on the loan. I called the RBS PPI concern phone number and the advisor told me that Loanguard is not PPI on a loan and only considered PPI on a mortgage or an overdraft. I am confused as don't see what the difference is its all surely some form of loan?
The Loanguard Insurance was for £2500 on a loan over 60 months which I am one payment from clearing. I certainly did not realise it was optional at the time of taking out the loan I was told that I would not get the loan if the insurance was not purchased, despite being in a full time permanent job with a mortgage and husband etc.
May be the case that its not considered PPI but just wanted to check.
Thanks!
0
Comments
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LoanGuard is Single Premium PPI, they are talking rubbish0
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I would ring again because as Citboydal says it is definitely PPI. Hopefully this time you get someone more competent, I would just say just you want to make a claim. Do you have your loan account details?
Good luck!!0 -
As the OP obviously has all the details of the loan and account number etc, I wouldn't bother with the 'phone at all.
Put your complaint in writing and don't worry about the dressed up name, it's PPI and no mistake.
Be sure to mention that the insurance was front loaded onto the loan and paid as a single premium to attract extra interest. This is a win...0
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