PPI Advice

wilt44

Can anybody please offer me some advice. I took a loan out last year through Loans.co.uk. I was told when taking out the loan that the ppi would be best for me from the answers that I had given to a demands and needs questionnaire. I do not recall that they told me that it would be a single premium PPI and that this would only last for 3 years. They have written back to me say that it was all discussed in a phone call and also that I received a letter with all the terms and conditions included. I dont recall either. They have said that that is there final decision and if i wish to complain any further it will have to be to the FOS. I have a couple of questions to ask:-

1. Should I send a DPA letter and get all the transcripts with them ?

2. I also believe that the 3 years single premium is unsatisfactory as the loan is for 15 years, can i make any complaint with regards to this?

3. Also if i didnt get anywhere with the PPI mis-sold route, How do i go about cancelling the single premium PPI as it is on a secured loan.I believe that the FSA did a report on cancelling single premium PPI and what rights do i have ?

Any help would be much appreciated

wilt44

Anyone please ??????

jonesMUFCforever

Ask for a transcript of the phone call.

You would have had to sign terms and conditions for the loan where is your copy? The details would have been on this.

You can only make a complaint if you have been swindled in any way - if the terms and conditions which you signed clearly shows that the PPI is only valid for 3 years - who is to blame?

It is my understanding that a single premium PPI policy is non refundable - if you cancel now the cover is lost but so is the premium BUT if you were missold the premium you may have recourse.

So far you have not posted anything on here that would constitute misselling.

irish_eyes_r_smiling

after watching the ppi programme last friday i was under the impression that policies that are sold which will not cover the overall duration of the loan will be looked into be the FSA/ FOS with regards to mis-selling.

check out their websites for more info

good luck!!!!!!!!!!!!