Cancelling PPI - not mis-sold

Shazza50

Can we cancel the ppi we have on an HFC loan and a Barclayloan even if they weren't mis-sold? If so, do we have to give a reason why?

bankofmum_2

You can cancel the PPI and the reason doesn't really matter - just say you can't afford to pay it. I have just cancelled mine and it was not mis-sold (according to them).

Shazza50

I have phoned HFC to cancel ppi, but was told that I would have to take out another loan without ppi in order to pay off the original one. Even though my ppi payment is £66 I would only be £10 better off. The refund on the ppi would be taken off the original loan.

Shazza50

I have today been into my branch of Barclays and was told more or less the same as HFC said. So now I am going to put it in writing and see what response I get from that.The advisor also told me that I probably wouldn't get a new loan at the same rate so it wouldn't be much cheaper, even though I told her that I couldn't afford what I was already paying.