Hard Sell Tactics

Bykerlass

I am furious,:mad: My OH applied online for a £7000 loan through Moneyback loans/ Alliance and Leicester. He was e-mailed asking him to give them a call. Talk about hard sell. They berated him for about 20 minutes trying to get him to take out PPI. He consistantly refused but still they kept on at him. He was ill at the time and could hardly talk but still they kept on at him. Suggesting various scenarios where he may need this PPI ie serious illness, injury, death etc. He clearly told them that he was well covered in this event but still they went on. They then tried to sell him life insurance (they must have thought he was on his way out as he sounded quite ill) He again refused but was persistantly harangued by this salesperson. Eventually he asked if they loan was only available if he accepted this PPI? he was told no. To top it all he was told because of the postal strike he could have to pay £30 to receive it directly into his bank once the paper work had been signed and returned or wait up to 4 weeks because of the postal strike! I am so annoyed that he felt no other option but to pay the £30 there and then via debit card. I certainly would not have done so.
They managed to get the paper work out to him in 1 day! How were they going to pay the money to him if it was to take 4 weeks?
Bloody cheek.
I am waiting for the money to be paid into his account and then intend writing a letter of complaint to A&L about the heavy tactics used and the mis-selling.
If it had have been me on the phone I would have told them where to stick it. He has an excellent credit score as he had checked this and has never had any bad debts. :mad: :mad: :mad:

petermb_2

when you realise that the commission to the lender for cover such a single premium payment protection can be as much a 65% of your premium is there any wonder that they are keen to sell it to you?

I have just seen a case where a £52000 loan was increased by another £22,000 ro cover payment protection. Just sheer greed on the part of the lenders and insititutions.

On the other hand, that greed will aid their undoing ultimately.

midflight

So many people are now trying to claim back PPI, that the financial institutions are being forced to sell new policies even more forcefully than they did before!

Attempts to miss-sell seem more rife than ever. Only the other day I was called at home by my mortgage lender, absolutely desperate to sell me PPI. I clearly & calmly explained dozens of valid reasons why I do not require it, yet STILL they banged on for a further 10 minutes...

What a pointless waste of everyone's time. If it's supposed to be for OUR benefit, then why are they so ridiculously keen to sell it to us? Surely we should be begging THEM for it, not the other way around?

Oh yes, I forgot... we don't get COMMISSION for it. They do

Bykerlass

On the other hand, that greed will aid their undoing ultimately.

Yes Petermb I suspect you're riht. Hopefully sooner rather than later.

I think what is annoying me most is the £30 charge to send it via bank transfer as it could take about 4 weeks! Where on earth does this timescale come from? I know the post office are on strike but they would not be sending a cheque anyway so do not understand it at all.

Bykerlass

On the other hand, that greed will aid their undoing ultimately.

Yes Petermb, I suspect you're right. Hopefully sooner rather than later.

I think what is annoying me most is the £30 charge to send it via bank transfer as it could take about 4 weeks! Where on earth does this timescale come from? I know the post office are on strike but they would not be sending a cheque anyway so do not understand it at all.

Bykerlass

Oooops must be because I am still mad about it got carried away

regularsaver1

I don't understand why a postal strike (hopefully ending 10th oct) could potentially delay the funds by 4 weeks?

did you explain any further?

Bykerlass

regularsaver1 wrote: »

I don't understand why a postal strike (hopefully ending 10th oct) could potentially delay the funds by 4 weeks?

did you explain any further?[/quote
No further explanation was given, obviously just wanting to make extra cash but I have not finished with them yet. I am on my high horse now!:eek:

System

we took out a loan with lombard and we had to pay a £50 fee! we only live 5 mins away from their hq so could have pcked up the cheque.

Bykerlass

CHRISSYG wrote: »

we took out a loan with lombard and we had to pay a £50 fee! we only live 5 mins away from their hq so could have pcked up the cheque.

OMG that's worse than me. Any excuse to drag out a few extra pounds eh.