After a PPI refund

-taff

You appear to be saying that you took out the loan hoping the PPI would cover you while you weren't working, effectively having the loan for nothing?

bertram_IX

Moneyineptitude wrote: »

It doesn't matter whether you instigated the process, you signed a legally binding agreement with Halifax. The Bank obviously believed you had the ability to pay it back and wouldn't be able to cross reference your unemployment unless you told them.

The bank knew that I was not working through ill-health. They were paying me a sum of money each month, from my mortgage protection repayment insurance that I had taken out with them (Halifax), to cover my mortgage repayment for my Halifax mortgage. They also knew that a PPI taken out whilst "unemployed" through ill-health would be invalid

Moneyineptitude wrote: »

How did taking the PPI in any way cause you to take out the loan?
Nothing wrong or underhand about that. As I said earlier, you obviously didn't tell them you were unemployed originally.

I believe in covering myself wherever possible with the necessary insurance. Had I not been able to take out PPI for the loan I would have not taken out the loan. Why would I need to tell them I was "unemployed" through ill-health. This all took place back in the days when all Halifax business, bank accounts, mortgage and insurances, were handled by the local branch office and by the same employee. I know that this was all handled by the same employee as I still have the letters from their branch office bearing his name and signature.

Moneyineptitude wrote: »

I think it's "perfectly fair" for them to expect repayment of the loan too.

And do you think it fair to allow me to go ahead with a financial transaction under the impression that I had cover when they knew I hadn't.

Moneyineptitude wrote: »

When you detail these "false pretences", someone might be able to comment further. The Bank have refunded the PPI, so what is the issue with you repaying the loan? :eek:

The false pretences were selling me a protection policy that they knew would be useless.

I would also suggest that Halifax knew that something was wrong somewhere because in 1997 they gave a full refund of the PPI premium. How often was that happening in the 1990s. They show enough reluctance now, in the 2010s.

bertram_IX

dunstonh wrote: »

you borrowed money. You spent that money. you should repay that money.

We would appreciate it why you think you can spend money and not repay it?

And I would appreciate it if you could explain to me why they think that they should be able to offer me something I cannot use just to sell a loan.

I had every intention of repaying it. It was only after I discovered that the original diagnosis of insomnia turned out to be something far more debilitating that things went wrong. For the first few months I was able to cover the cost of the loan from my sickness insurance cover. It was only when this ended, after twelve months, that this problem occurred.

bertram_IX

-taff wrote: »

You appear to be saying that you took out the loan hoping the PPI would cover you while you weren't working, effectively having the loan for nothing?

Not really. I had sufficient monthly income from insurance to cover the loan repayments until the insomnia was sorted.

It was after the eventual diagnosis of ME/CFS, some months after the loan was taken out, that the policy was dumped by the insurers.

[Deleted User]

bertram_IX wrote: »

Why would I need to tell them I was "unemployed" through ill-health.

If you failed to tell them, then it was you who was guilty of accepting the loan under the "false pretence" that you could afford to pay it back.

I've already provided a full and honest reply to your "predicament".

I have no intention of discussing it any further...

bertram_IX

Moneyineptitude wrote: »

If you failed to tell them, then it was you who was guilty of accepting the loan under the "false pretence" that you could afford to pay it back.

I've already provided a full and honest reply to your "predicament".

I have no intention of discussing it any further...

It would appear that you are failing to read my posts correctly. I didn't need to tell them I was ill (unemployed?). They could not help but know.

Anyway, I don't have a predicament. I was simply asking if anyone else had been sold a PPI under similar circumstances.

The answer obviously is no. Therefore further discussion is pointless. I am simply responding to posts that seem to be suggesting that I am/was running some sort of spam.

My apologies for disturbing you all.

-taff

If they offered you the loan, you didn't have to take it...

Post #7 is yor best bet, Halifax won't be refunding the loan.

bertram_IX

-taff wrote: »

If they offered you the loan, you didn't have to take it...

Post #7 is yor best bet, Halifax won't be refunding the loan.

Thanks Taff, a masterly summation:)