Alliance & Leiester loan for my girlfriend.

lukese

my girlfriend applied for a loan last night over the phone as was really given a hard sell on Payment protection, when asked what would happen if she couldnt afford to repay the 160 a month she replied my parents or boyfriend would help, he replied you really need to be responsible and start doing things by yourrself, he also asked her early on in the call how much she had in savings which im sure has nothing to do with a loan application, she has about £200 and he used this on her saying you have no savings you really should get Payment protection. then the last straw was he said he didnt see it worth putting the apication through as what he was lookign at didnt look good, so she agreed to the Payment prrotection and got accepted at 15.9%!!!!!. my question is, she hasnt signed any forms yet, can she keep the loan and now refuse the payment protection, can they still take the loan away from her if she cancills the payment protection? help me get her out of this mess, im really annoyed with this guy he really took advantage of her, feel like complaining to someone, any ideas?

tom188

You can cancel PP within 14 days.

lukese

thanks, will it affect the loan though, can they turn round and say, well ok its cancelled, but we are no longer willing to give you the loan now?


just want to get my facts right


thanks

kaykay_2

I'm really interested in your comments re A&L i too applied for a loan and was given the HARD SEll on payment protection. In the past i have always said no but the woman went on and on and on - i felt like a child being bullied and almost said yes. Afterwards i was so cross about it. I posted a question earlier tody about this as i felt it was totally out of order. I didnt know that staff get paid commision to sell this product - naive i know, but the woman on the phone really went over the top to the point that i considered putting the phone down and going elsewhere. We have a good credit scoring and i knew we could go elsewhere but others may not be so fortunate and the experience was v. unsettling to say the least. I can imagine how some customers get sucked because they are made to feel bad!!!

Mrs_Optimist

When we got an A&L loan a couple of years ago we too were given the hard sell on PPI. We refused it and the loan application went ahead. However when it was posted to us PPI had been included anyway. We returned the paperwork pointing out that we did not want PPI and they eventually processed it without PPI (although they did try the hard sell again). My guess is that they were hoping we were in such a rush to get our hands on the loan money we would accept the PPI in spite of the fact that we had told them we didn't want it.

They are persistent but I will be damned if they are going to make any more money out of me than necessary. PPI is a big con, which rarely pays out anyway because there are lots of small print exceptions.

Jinos

Hi,

Having read about the 'hard sell' for PPI for A&L loans on the chat forum I prepared myself for my phone call to them to check on my loan decision. The woman was friendly and explained at the start of the call that they might recommend PPI to me but that I didn't have to take it if I didn't want it. After a few questions about my circumstances (full time employed etc.) she said I'd been accepted and no further mention at all of PPI! I checked this with her and on the paper work when it arrived the next day and I've not been signed up for it!

So, just wanted to say that there isn't always a hard sell for PPI... or perhaps the woman just wanted to go to lunch and couldn't be bothered!;)

Perhaps your g/f could tell them she wants to keep the loan but cancel the PPI because she's found cover elsewhere at a lower cost (I did this with Egg last year)?

Cheers
J