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Another PPI Question
We have just taken out a loan with Black Horse for 15k. Monthly payment is £290.94, which includes PPI of £76.79. They said that without the PPI we couldn't have the loan, but there are so many loopholes in insurance, that when you put a claim in, its never, or very rarely paid out, so what's the point?
I haven't made a payment on the loan yet, the first one is due on 2nd January 2008. Can i call them and ask them to cancel the ppi and remove it from the loan? £76 a month in our savings account is better than nothing!
I haven't made a payment on the loan yet, the first one is due on 2nd January 2008. Can i call them and ask them to cancel the ppi and remove it from the loan? £76 a month in our savings account is better than nothing!
0
Comments
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Hi Loobie,
If you have just taken out the loan there will be a cooling off period which will allow you to cancel the PPI, Most policies allow a 30 day cooling off period, It should state in the policy document.
Hope that Helps
Ian0
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