misold ppi

[juliex]

we bought a caravan back in 2005,

the thing is we bought the caravan in sept 2005, the salesman told us the payment that we would have to pay each month, we went forward with this, we went on holiday, when we were there we had a long think about the amount we were paying and asked the lenders[when we got home] is there anyway that we could extend the loan to reduce the payments as it was going to stretch us a bit they said they could do this if we took out payment protection which we did, because we thought well at least the payments would be protected anyway.

the second aggreement was not signed on business premises as my husband is self employed they visited him on property in which he was working. i have been told this was illegall

This is were is gets better,, we should have really looked at our credit aggreement before hand because the originall 1st aggreement already had ppi on it [we certainally did not know this as i had life insurance to cover us] all they did is move figures within our ppi, which in the first aggreement we never knew we had, do we have a case to reclaim this ppi as i think it was unfair any comment will be welcome

[Sparklez30]

I'm affraid I don't know much about PPI but I'm sure someone wiser will be along soon to offer some advice.

It would appear to me that they clearly stated you could only have the recalculated loan if you took out PPI therefore suggesting it was compulsory which is not the case!

[julie36]

Originally Posted by Sparklez30

I'm affraid I don't know much about PPI but I'm sure someone wiser will be along soon to offer some advice.

It would appear to me that they clearly stated you could only have the recalculated loan if you took out PPI therefore suggesting it was compulsory which is not the case!

most of the loans we took out we did not know that this was added 2 of them we did, but we were self employed anyway we have just been looking on our credit aggeements with interest because of this interest in them and to our amay they have been added they get u to sign this that and the other so you are not sure what u have signed anyway,, probably your life away so i think anyway we have a lot of these ppi''s that will not be to much value to claim but some of them are

if we do claim them do u really get them back do u think it is worth claiming

any comment will do and if you do many thanks for it

[Sparklez30]

What company is this with?

I would say its definately worth trying. I helped my friend get her loan reduced by over £9000 over the term with welcome finance by complaining about the PPI cause they were self employed. Had to go all the way to the ombudsman but got there eventually!

She didn't get the money in her hand as such but will reduce the monthly payments which is what she really wanted.

I would say for the price of a few stamps its always worth complaining (the self employed part does make your mis-selling complaint stronger too!)