Wonderful Welcome

[british bulldog]

This Is How My Agreement Reads.this Is A Top Up Loan.
Total Amount Of Credit. £4830.86
Amount To Settle Loan. £3136.07
Amount Of Credit For Insurance. £1194.79.
Ppi. £979.79
Lifecare. £195.00.
TOTAL REPAYABLE £1701.08
Can I Claim The Life Care Aswell As The Ppi
This Is At A Variable Apr Of 27%

[british bulldog]

this is the reply i got back from welcome.please be patient,i have no scanner.
i write in response to your letter blah blah.
i enclose declarations signed by you at the time of taking the personal loan.these show the insurances purchased,namely ppi,and the fact that it is optional.you were aware the ppi would comprise part of the monthly payment as shown by the signed details.
it is apparent you were suitable and/or eligible at the time for ppi as you indicated you were in full time employment and was not aware of any impending unemployment.
on the same document,the regulatory checklist has been completed.this would suggest a proper assessment has been made in relation to your suitability.it also suggests policy summeries were provided to you.
further more,i enclose a demands and needs statement,which has been signed by you.this document re-confirms you wanted to purchase ppi.
each of our employees has attended and passed a specific insurance sales training course.our sales procedures are scripted,and follow an agreed process ensuring terms and conditions are fully explained,and monitered regularly ensuring adherence to appropriate regulation,inclusive of optional ppi.
i sent the letter in to these muppets,explaining that i was told that'if i didnt take the ppi,i wouldnt get the loan'.i didnt ask for it.
can anyone tell me which way to go now,or do i just forget it?

[hellhasnofury]

Hello,

Are they stating the truth, Did you take the loan out over the phone?? Do you have the call recording or transcript????

[Gogivit]

Let me tell you. I had PPI added to my loan but I did not request it but was told I had to have it to get the loan!

[chrisking1962]

well well well,
it doesn't really matter which loan company it is, they all do it, Demands and needs, of course you sign it, its next to the last page (if it is'nt the last page) on the documents, and by the time the representative has spoken to you about the loan and the cost, (whether or not he has stated you Have to have it or not), all you can think of at the time is sign it so you can get the funds, and as in my case with Blemain we did'nt want the PPI and as we were trying to finish off the little 1 1/2 hrs with the rep, we just signed in all the relevent areas he pointed out to, NO Mention of PPI on the discussion with the rep, therefore oblivious to read the small print as most people do.
Learnt from our lessons the hard way, now just having to fight for it back. (see chrisking1962 v Blemain finance PPI). and it's a long hard fight, but is now made a little bit easier due to the Tonight Programme a couple of weeks ago.
Good luck with your battle
stay fresh peeps
regards
chris

[british bulldog]

can anyone tell me the next step to take,after welcome's letter of "tough luck".
is there any template letters to use.also,if i can fight to claim back my ppi,there is possibly another 2/3 previous loans with them over the years.
i dont like being told"you knew what you were signing".yes i did,but after being told,"if you dont take the ppi,you cant have the loan".i felt as if i was being put in a corner,because i needed the money.