First direct front loading on loans

Ladyinwaiting

Anybody had any success with FD in claiming loan ppi back front loaded on chain of loans?

Seems v few posts about FD

Cheers

markyb12

Just got £27.000 back off bank of Scotland for front loaded ppi on a chain of loans
I know it's not same bank but front loaded is illegal now ( or so I'm led to believe )

Ladyinwaiting

Thanks for reply. You have given me some hope

Did BOS put much of a fight up? Did you use front loading as your argument? I have used this as argument and also self employed. Have backed this up with letter from accountant who does all my PAYE.

First direct have always struck me as v fair. I am hoping they playball

markyb12

Just paid up
I did get a call off them a few days after sending in the forms
I was asked a few questions about my wages and work benefits
To be honest it got me a bit flustered
I rang back a few hours later and told them that the main point for my argument was not about if I could pay it back, it was the fact that I had been sold a£10k policy with £4.5 k of interest added on to it
This was (I think my 4 th top up loan)
I argued that had I not had this I would have paid the loan off 3 years sooner and the fact that it was costing £ 177 a month for ppi
I was not told that I could get it cheaper if I had gone elsewhere
In fact I'm sure I was pressured in to buying it
I also argued that I was not covered for stress related illnesses and bad backs, as a bus driver that is what most people go off with
I also said that front loaded was illegal
Right on 8 weeks I got 3 cheques totalling almost £28k
Not received a letter showing how it was calculated, but I guess they must have refunded ppi from the previous loans as well
You been sold a now illegal policy that is not fit for purpose and as you are self employed would not cover you
Good luck

Ladyinwaiting

Thanks Marky.

Fd will know I have been self employed as I sometimes paid Hmrc related tax out of my personal acc when I locked myself out of business acc. Just saying the evidence is there if they want to look

Have argued on 4 points - front loading and peverse reqs of policy which said i had to wind up company to claim unemployment when i was btween contracts

Also argued re pre existing health conditions prior to 1997 and sent evidence.

Sent a detailed letter that said i realised in financial difficulty and as my main bank they cd have surmised that = the front loading has exacerbated my debts. That will prob go down like a lead balloon!

Dunno if this is valid