PPI Reclaiming discussion

vivvy

Do write a second letter from the templates .If they still say no contact the finance ombudsman. This is what I am doing as I dont see why I should pay for insurance that I did not agree to or knew I was being sold.

cdr1972

Yes but surely I should be allowed to cancel the PPI?

vivvy

From my records it appears that I was sold the same policy twice and Beneficial seem to think it is alright to do so!

TwinsMum_2

cdr1972 wrote: »

Yes but surely I should be allowed to cancel the PPI?

Yes I would think so, although they will more than likely give you a huge long list of why you can't, but yes I would keep at them after all its your hard earned cash and why give it to them.

TwinsMum_2

vivvy wrote: »

From my records it appears that I was sold the same policy twice and Beneficial seem to think it is alright to do so!

I totally agree keep at them. I can't believe they are doing that, and I can't believe they won't admit they are in the wrong.

lynz412

Hi there,

Hope someone can shed some light.

We have a secured load with 1st plus and pay about £190 for the PPI and this is only a 5 yr policy and we have to pay th extra £190 for the whole term of the loan.

I dodn't really want this and it was never fully explained that it only covered 5 yrs.

My problem is, if I put in a claim do they cancel the policy as if I carry on paying it then in 4 yrs time we will get pay out of over £20k.

If i claim will they then reduce my monthly payments by the £190 and refund me what i've paid to date?

Bit confused on this, hope someone can help me.

Thanks
Lynz

ds100

madders69 wrote: »

I took a loan out in about 2004 with Beneficial Finance/ HFC Bank, which was later settled and a further loan was taken out in 2005 with the same company.

I felt at the time that although I was told that the PPI was optional, that I was being pressured into taking it out by the salesman, as he kept going back an forth out of the office to phone his boss regarding whether they'd allow me to take the loan, and what the APR would be on it. I sent the letter template to HFC, and they took almost 2 months to come back to me.

When they finally did, they said that they were refusing my claim based on the fact that the document I signed said that the PPI was optional, and that all the docmentation displays the words "optional Payment Protection Insurance" in the branch.

Because I signed this, and because I apparently told them that my other cards were covered (I don't recall telling them this, and if I did it would have been to shut the guy up about trying to sell me the insurance to cover all my other cards)- as it happens not all of those items are/were covered, but they say it is an indication that I consider the cover to be an important aspect of any agreement that I arrange.

They then go on to tell me that if I want to cancel my PPI, I have to contact the branch and arrange to go in and arrange a new loan in replacement of the existing loan, because the PPI "is an integral part of the total loan agreement and it is not possible for the premium to simply be removed from the original legal documents."

So what do I do now?


Madders xx

Dude you should sent the second letter thay r just messing around with and at the end u have nothing to loose !!!!!!!!!!!!!!!!!!!!:T

nilsac

hi, i have ppi on my mortgage with nationwide. Ive claimed on this ppi and have since cancelled the policy. My question is can i claim back my ppi on my previous mortgage provider Halifax because i did not claim on the ppi when my mortgage was with them ?

katiekittykat

gt568 wrote: »

I sent mine to the branch I took the loan out from. Had responces and my complaint is ongoing.

Thanks very much

xx

QOTD

TwinsMum wrote: »

I too have a loan with first plus that was broked by Central Capital....

Have you had any response back from Central Capital yet? I'm anxious to find out how they are going to react since my loan was also brokered by them.

Thanks in advance