Cancelling PPI CAN BE DONE!!!!!

maforduk · 5 May 2006 at 3:09PM

Ask for a DPAr (Data Protection Act request). It gives them 40 day's in which to reply, but if they don't...You can report them to the commissioning body.

nej · 8 May 2006 at 11:37AM

Ok, help needed:

I've got nowhere with my branch manager. The PPI is cancelled (but only a £9 reduction, £379 down to £370. The £15k loan has about a year left to run). He hasn't been able to give a good explanation of why it's so low. He has stated now he is convinced that his staff would not have told me I had to have the PPI (which they did - I was never given a repayment figure without it either), but simply that they would have recommended it. As such he is not willing to refund the premiums paid.

I think he is now a dead end (I've written to him 7 times), short of me writing back to him saying I don't appreciate being called a liar. According to the Natwest leaflet the next step is to goto the Customer Relations Manager, which sounds like a department rather than a person if you ask me, but I suspect that's where I'll have to go.

Any suggetions on how to approach this? Should I write to the Customer Relations Manager with all guns blazing and threats to cancel and move my accounts and mortgage elsewhere, or a refrained letter detailing the story so far with a polite request for it to be investigated further?

PLEASE HELP! It's very frustrating seeing others who got their Natwest premiums refunded quite easily!

deadmansgun · 21 May 2006 at 8:39PM

Old_iron_balls wrote:

Good on ya !
Good luck

Just a quick update that I'm stil awaiting a reply six weeks on. Should have followed up sooner but had hectic domestic problems.

My own fault for posting ordinary mail :mad:

Another letter to be sent tomorrow!!

I'll let ya know in time guys...

chowster · 7 June 2006 at 10:16PM

Hi Guys,

Just wondering if I can ask something here, haven't posted in ages but good to see your still saving people money and offering good advice

I have an Egg Loan which I don't need PPI on, it was originally for 9K and over 3 years at 7.7% APR, it has 2 years to run . I was contacted today to have the PPI cancelled and was told that it would reduce the loan amount by £300. I felt this amount was very low and have asked them for a breakdown of how they come to this figure but what do you guys think?

mr_e_5 · 8 June 2006 at 2:02AM

I'm delighted. Have a loan with the Royal Bank of Scotland and they agreed yesterday to cancel the PPI saving me £84 a month!!, thats over £4000 over next 4 yrs

They took a bit of persuasion but I stuck by my guns and they gave in.

Thanks to anyone who has ever posted up in the forum. Reading different threads and using advice from here and there i've got myself out of lots of trouble this week without getting into any more debt. Thanks again

Beanietdc · 10 June 2006 at 7:31PM

Hello all,

Sorry if this has been covered before but this post is toooo enormous to read all the way through!

I took out a loan for £10,000 in 2002 to run for five years. I took out PPI with it.

In 2003 I was made redundant and made a claim on the PPI. I was out of work for six months and only ever received about £100 from them (not even enough to cover one payment).

My question is - can I cancel the PPI now or is it too late in the term (due to finish September 2007) and what about the fact that I have claimed on it?

I realise it might not make much of a difference if I do manage to cancel it but every little bit counts!

Thanks

heybigspender2006 · 13 June 2006 at 12:10PM

Phew, I sent a letter yesterday recorded delivery asking for my PPI to be cancelled, the branch manager from my town phoned back to try and sell me a new loan etc. also really making me feel like I was in the wrong when it was his staff who essentially forced this unecessary cover on me.
After I wouldn't budge he said that they would take off the remaining PPI which reduces my payments from £110 a month to £105 - it should be £10 less really - but should I leave it at that and sign the new agreement? It seems hardly worth it but then again £5 a month less over 3 years is still £180 off the final loan amount. What to do?

lombardox · 15 June 2006 at 12:01AM

lombardox wrote:

Hello all,

Not sure this is the right forum for this. Feel free to redirect me if it isn't as I'm a newbie here.

I have been inspired by your tales of success in clawing back PPI cash from unscrupculous lenders and was hoping you might be able to give some advice.

The sorry story starts last year when my girlfriend who had a lot of debts....

original post

Well there was a happy ending to this story. We sent off the template letter altered to suit the circumstances (going with the misselling angle - stressing the point that they hadn't made clear that an early repayment would include all of the PPI premium) and the loan company checked their phone recordings and agreed that it wasn't sold according to industry best practice. They refunded the premium and the secured loan is now paid off. 7k off the final bill! :beer: Keep up the good work people.....

heybigspender2006 · 15 June 2006 at 9:23AM

Well done mate. 7k's not to be sniffed at. I've been offered less than half of my £700 PPI without the interest so I'm not sure what to do but at least some people are getting their money back

Mirtos · 15 June 2006 at 10:35AM

Just to say, that I cancelled my PPI with Egg and Cahoot, quite easily over the phone. The good thing is that it has shortened the term by 1 year at cahoot and 2 years at egg!!! woo hoo! Debt free date here I come.After I'd done it, I mentionned to my mum about it, and it turned out that on her cc, she was paying £100 per month - £70 of which was PPI and related extras! Since then sh'e switched to a 0% with no ppi and is saving a fortune - now she can afford to pay off the debt rather than just service it! Hurrah for MSN!!!

Cancelling PPI CAN BE DONE!!!!!

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