Egg - Worth A Shot?

Psikon wrote: »

Hello all just a quick question,

I took out an Egg loan roughly 3 years ago over the phone and I believe I was mis-sold PPI. I was led to believe that in the event of an accident or my death, the loan would be paid off with no problems. However I have since found out that if this were the case payments would only be made for 12 months, leaving the remainder of the loan (I assume) to be repaid by my family.
In my eyes this makes the PPI rather redundant and if I had been aware of this at the time, I wouldn't have taken it out.
My question is simply this: Do you think I have a valid case to reclaim, or will they tell me to do one.

Any help you could give would be much appreciated. And I apologise if my post is incoherent - I'm a bit of a forum virgin :eek:

Many Thanks
Psikon

Hi there

If you believe you have a case then yes go for it.

Most insurances pay out for 12 months in a row, then say for instance this was paid for unemployment, you would have to return to work and work a min of 6 months before they pay it out again, but every policy will vary from one to another, but despite that check this link out below for further information in case any of it occurs to you anyway:

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance

If any of that occurs to you in the info mis selling list, there are template letters to help you through this, they have 8 weeks to respond in full.

Another letter maybe required if unsuccessful first time round, keep at them until you receive the final response.

In the final letter they generally let you know how you can take this further, such as with the Financial ombudsman service, with details/leaflet.

Post all letters by recorded delivery, keep us posted and if any further help is required, let us know.

Do you still have the agreement of this policy?

If not write to them in another letter to request a copy of your agreement, enclose a £1 postal order or cheque payment to cover the cost of this, and they should send you this by 12 days of request.

Good luck.;)

Di
X

You could be very happy if they agree and pay out or very sad if they reject your claim. No other ramifications. Thanks