PPI Reclaiming discussion Part II

tunafish_3

Hi
Another newbie to the site, had a bit of a read through and wondered if anyone could advise and help?

Took out a £4000 loan in 2006 with Halifax along with PPI. The total repayment of my loan is £14,000 after 7 yrs. Bit naive admitidly but was told the PPI was necessary to take out the loan. I do remember signing something to say I understood what I had been told with regard to the loan, but do not remember the exact details.
It seems that after looking at all the info on this site that I am paying an awful lot back on such a small loan??!!!!

Do you think I stand a chance of getting any of this back?

And once you get money back what would be the best option with regard to full cover insurance for the remainder of my loan?

Anyone help?

thanks
tunafish

m.colak

tunafish wrote: »

Hi
Another newbie to the site, had a bit of a read through and wondered if anyone could advise and help?

Took out a £4000 loan in 2006 with Halifax along with PPI. The total repayment of my loan is £14,000 after 7 yrs. Bit naive admitidly but was told the PPI was necessary to take out the loan. I do remember signing something to say I understood what I had been told with regard to the loan, but do not remember the exact details.
It seems that after looking at all the info on this site that I am paying an awful lot back on such a small loan??!!!!

Do you think I stand a chance of getting any of this back?

And once you get money back what would be the best option with regard to full cover insurance for the remainder of my loan?

Anyone help?

thanks
tunafish

Hi,

ummmm where do i start. First of all i'll say welcome to the thread. I won't go into the amount of interest that you are paying on the loan or PPI as you are already aware that you aren't getting a good deal. I would immediately look at changing the loan to one of a shorter duration. I'm guessing from the interest rate and the period that you are only paying small payments (this is possibly due to your own situations which we won't delve into either). What i will say is:

1. Get a settlement figure now.
2. Look for an alternative loan with/without PPI its your choice.
3. There are independant companies which sell PPI for less its a matter of just checking them out.

Then when you get the settlement figure let us know so we can start working on a solution.

Other than that if you post your monthly payments, the date of the first payment, the total loan and ppi element then we can start working on estimates.

xxlaurissaxx

Hey guys wish me luck, just sent my letter off the MBNA.

Anyone else dealt with these? And do you think I have a chance against such a big company?

xx

marshallka

xxlaurissaxx wrote: »

Hey guys wish me luck, just sent my letter off the MBNA.

Anyone else dealt with these? And do you think I have a chance against such a big company?

xx

Do a search of the thread, I am sure you will find someone on here. Good luck xx

tunafish_3

m.colak wrote: »

Hi,

ummmm where do i start. First of all i'll say welcome to the thread. I won't go into the amount of interest that you are paying on the loan or PPI as you are already aware that you aren't getting a good deal. I would immediately look at changing the loan to one of a shorter duration. I'm guessing from the interest rate and the period that you are only paying small payments (this is possibly due to your own situations which we won't delve into either). What i will say is:

1. Get a settlement figure now.
2. Look for an alternative loan with/without PPI its your choice.
3. There are independant companies which sell PPI for less its a matter of just checking them out.

Then when you get the settlement figure let us know so we can start working on a solution.

Other than that if you post your monthly payments, the date of the first payment, the total loan and ppi element then we can start working on estimates.

Hi
Thanks for your potential help!!

I am currently paying £160 per month repayments.
I think the 1st payment was March 2006.

tunafish

xxlaurissaxx

marshallka wrote: »

Do a search of the thread, I am sure you will find someone on here. Good luck xx

Sorry im struggling to see anything about MBNA. Any advice would be really appreciated from anyone good or bad.

Thanks

xx

marshallka

xxlaurissaxx wrote: »

Sorry im struggling to see anything about MBNA. Any advice would be really appreciated from anyone good or bad.

Thanks

xx

At the top of the page is "search this thread" , Type in MBNA and all the threads will be there. I have tried and there are lots of mentions.

PS we are all good on here, there are no bad ones.;)

m.colak

tunafish wrote: »

Hi
Thanks for your potential help!!

I am currently paying £160 per month repayments.
I think the 1st payment was March 2006.

tunafish

do you know how much the PPI added was? Or even the interest rate of the loan?

sarahc5388

Kaia wrote: »

Morning All, or should I say afternoon....:rolleyes:
I am glad this queston has been asked, because i could find myself in ths situation, been promised a payment in 14 days if I sign.....
What happens in that scenario , anyone know? tiggrae?

this is what they did to dad (LTSB) - they said within 21 days of them receiving the signed agreement - they paid it in after about 19-20 days (i think they also mean working days (mon - fri? only)

m.colak

xxlaurissaxx wrote: »

Sorry im struggling to see anything about MBNA. Any advice would be really appreciated from anyone good or bad.

Thanks

xx

I'm not trying to divert you have have you tried the PPI successes thread as that would show a better result for people and mbna especially if you are looking for people whom won. As marshallka says try a search on there and you will find someone.