PPI (Payment Protection Insurance) Help?

B

barry m

New member
In June 2004 i took out a loan with Building Society. The loan was for just over £7000. This was to cover a small loan i previously taken out and the remainder to buy a small car. I finished paying the loan Last year but i have been thinking lately that i may have been charged Payment Protection Insurance. I did not know anything about this. So yesterday i rang the customer relations helpline and asked them to help and investigate. After a short call my details had been taken and was told that i will have a letter or phone correspondence within a week. During this call i was told that on record i signed the forms stating i accepted the insurance deal.
The only thing that i can remember is i did question something regarding this and was told that the loan would not be approved unless i accepted the insurance.
Do i have a realistic chance of being proved right and seeing any of my money repaid to me?

Or can anyone help me deal with this more effectively? Thanks
 
If you were told that you had to take out payment protection in order to get the loan then there is definite a case for it, this is blatent payment protection misselling and any of the following could be classed as this and could be eligible for payment protection compensation:

* You were out of work or self employed at the time of taking out the policy.
* You were led to believe that you must take out a PPI policy in order to obtain the loan.
* You weren't made aware that you could choose PPI from a cheaper third party supplier,
* The person who sold you the policy didn't make you aware of any exclusions that may disqualify you from making a claim.


The first thing they will probably do when you put in for your payment protection claim is dismiss it or drag their heals but if you want to be successful in your claim you need to persevere because it sounds like you have a very good case.


Good Luck and stand firm!
 
Back
Top