PPI

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Locko

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Post by Locko » Tue Mar 03, 2009 12:10 pm
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Sorry if people have mentioned this before. I have a secure loan with Barclays which was taken out about 2 years ago and I stupidly took out the PPI which worked out about £5,000 for 5 years. I didnt realise that the PPI would also occur interest. If I dont claim within the 5 years apparently I can claim this PPI back. Has anyone ever tried one of the companies claiming they can get your money back!! Thanks for any views Locko [:D]
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rayb

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Post by rayb » Tue Mar 03, 2009 12:16 pm
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Hi,

You do not need to use a company to claim this back, you can do it yourself via the Office of Fair Trading (OFT)

I think if you do claim it, it will be knocked off what you owed to your creditor - providing this claim relates to one of them
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Locko

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Post by Locko » Tue Mar 03, 2009 12:19 pm
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Thanks, If it got anything back I was going to ask that they pay it off the secured loan.
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CoverItAll

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Post by CoverItAll » Wed Mar 04, 2009 11:10 am
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Have a look at your Secured Loan paperwork. If the cost of the PPI was not included in the calculation of the total cost of the credit, there is a chance that the loan is unenforceable. If that were the case, then your claim would be for the amount of the loan, plus the amount of the single premium PPI, plus interest to date.
John Tegg
john.tegg@dms4asu.co.uk
http://www.paymentcover.co.uk
STANDARD TERMS for Forum Members for Home Insurance, Self Employed Tradesman's Public Liability, and Short Term Income Protection.
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David Mond

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Post by David Mond » Thu Mar 05, 2009 3:57 am
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Locko - go to a firm of DMP providers who also handle wrongly sold payment protection insurance. They will be the best to put in a claim for you.
Regards, David Mond, Insolvency Practitioner for over 46 years. Personal Insolvency Practitioner of the year 2012, Personal Insolvency Practitioner of the year finalist 2013 & 2014 awarded by Insolvency & Rescue Magazine and 2015 finalist for Personal Insolvency Firm of the Year.
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Locko

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Post by Locko » Thu Mar 05, 2009 11:19 am
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Thanks folks for your replies, will let you know how I get on regards
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ricbro

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Post by ricbro » Thu Mar 05, 2009 11:41 am
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Good luck Locko. I have just posted my first letter to Firstplus re PPI,
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