Payment Protection Insurance

para_2

Can anyone tell me where I stand with regard to payment protection insurance I have on a HP car that I am still paying for. I have been paying for a car for a little over 2 years out of 5 and am being charged over a £1,000 payment protection. The booklet I got with the car states I can cancel the PPI within 30 days of it starting but I'm assuming this means if I want some form of refund. I have sent a letter to the company stating I wish to cancel the PPI and have £figures adjusted and the overall balance outstanding adjusted accordingly. Do I have the right to cancel this PPI with or without a refund or am I committed now for the duration? Please advise, all replies will be appreciated.

bibi2211

help! We took a loan of 12000 in june 2006 with welcome finance and it's only now that i have found on my paprwork that i have paid 3000 pounds for the ppi as a lump sum so i am paying a loan of 15000 pounds.
i have send then a letter asking for a refund and after two days they have written back saying it was explained to me, never
and i should have read the terms and conditions.
what should i do next? please help as this money will really help me as i am on maternity leave.

rosemahairy

i am in the same position as you welcome finance have slapped a big ppi on my loan only just realised and it was years ago , nearly as much as the loan! i think the rules apply about being miss sold the ppi. There are loads of examples of draft letters on this site for claiming ppi back if miss sold i am going along that route, let me know how you get on vice versa dont stress though go to CAB if you start to struggle they are very helpful. missrepresentaion act 1967 or something is what we need i think quote that and see what they say.

bibi2211

thanks. I am goint to send the second letter template and see what happen and i will let you know.
i don't want to call them.