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Reclaiming PPI
Bomber341
Posts: 2 Newbie
Can anyone help me? My mother and father in law lost everything due to debt. This culminated in selling their house to pay off associated debts. GE Capital lent my mother in law £126000 at the age of seventy.
On selling the house we had to pay them as the loan was secured against the property and I believe it had PPI on it. We never had enough funds to pay back the numerous credit cards and banks so offered them payments calculated by what we could afford. They accepted these in full and final settlement. Will I be able to pursue them in relation to PPI. Any help greatly appreciated.
On selling the house we had to pay them as the loan was secured against the property and I believe it had PPI on it. We never had enough funds to pay back the numerous credit cards and banks so offered them payments calculated by what we could afford. They accepted these in full and final settlement. Will I be able to pursue them in relation to PPI. Any help greatly appreciated.
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Comments
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Will I be able to pursue them in relation to PPI.
PPI typically does not get taken out for over 60/65s. However, if they did have it then they have every right to complain if it was mis-sold.
Was it a secured loan or a mortgage? (mortgages tend to have MPPI as a standalone monthly direct debit and secured loan tends to be either standalone or built in).
Who was the broker? (as it is the broker that you complain to)
When was this (as most brokers were not regulated until after Jan 2005)?I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.0 -
Thanks it was 2007 through GE money and it was a secured loan.0
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