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Payday loans and ppi
saderyan123
Posts: 4 Newbie
has anyone received ppi from using a payday loans or loans company...mine would be paydayuk.
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Comments
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PPI for a one month loan?0
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saderyan123 wrote: »has anyone received ppi from using a payday loans or loans company...mine would be paydayuk.
PPI on a payday loan. How is that possible?
PPI kicks in after a deferment period of between 30 and 60 days. Payday loans are for less than 30 days. So, PPI is not a product you see with payday loans.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 -
Thank you however when I checked online it said payday loans was an option, just wanted to know if anyone had success or has seeked a refund0
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What said payloans was an option?0
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when I checked online it said payday loans was an option
Checking online with what?just wanted to know if anyone had success or has seeked a refund
How can you be refunded something that was never paid?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 -
I saw a pot that said "if you've taken out a payday loan you could be refunded ppi"
im just enquiring if anyone has taken out a loan and been refunded due to very high interest rates and not being made fully aware of what they are paying back and for what..0 -
saderyan123 wrote: »I saw a pot that said "if you've taken out a payday loan you could be refunded ppi"
No one's had PPI on a PDL, whatever the pot said.
Some PDLs have refunded interest and even payments - eg Wonga - but that's a separate issue.0 -
saderyan123 wrote: »I saw a pot
Pot??????:question:0 -
Moneyineptitude wrote: »Pot??????:question:
Assuming they meant post
Most likely a post by a claims company trying to hook in victims
OP - Payday lenders WANT you to be unable to pay the loan back so they can get more interest or further loans, they would have no interest at all in offering PPI to help you cover your debtSam Vimes' Boots Theory of Socioeconomic Unfairness:
People are rich because they spend less money. A poor man buys $10 boots that last a season or two before he's walking in wet shoes and has to buy another pair. A rich man buys $50 boots that are made better and give him 10 years of dry feet. The poor man has spent $100 over those 10 years and still has wet feet.
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I meant post lol and thank you. Before getting on this forum I emailed the company and they said they'd investigate
I kept getting calls about ppi almost daily so I researched ppi and was enquiring if that's what it was in regards to but hey thanks for your responses0
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