soulman333 v CENTRAL CAPITAL

[soulman333]

HI ALL,
I would like to claim back my ppi against central capital which was the single payment type added to loan in jan 2006 ( big rip off ) I have recently paid this loan off and was furious to discover the actual redemption amount.
And have been told the refund will be a very small preportion of the 4k the insurance cost. I complained saying that i believed i was mis sold but got the bog standard reply 'tuf luck'. but I believe because im self employed the policy would be useless in any case. I have all the docs from this company does anyone have any advice as to where i should begin seeing as i mentioned i had complained to ( central capital ) and they said i was made aware of me not being covered by any redundancy cover.
But I feel I was never fully made aware of many of the policys conditions.
Do you think I can make a claim??? And my partner who is on the loan with me has a few medical probs too. regards paul.

[reidnet]

Hi Paul,
If you have the Terms and Conditions of the Payment Protection Insurance policy have a good look at them and check what Conditions they have regarding self employed. Some of these policies will cover the self employed.

As for your OH being the second name on the loan, You may find that the PPI policy does not cover her at all. Most of the PPI's only cover the first name on the loan only. Its another we tactic that they use..You think you are bothe covered and you may not be. Again this should be in the terms and conditions.

Most of the policies also have the stated conditions etc for acceptance of the PPI, this can vary slightly from policy to policy.

The way they calculate any refund on the PPI when you pay of the loan that it attached to is an even bigger rip off. They normally state that more of the insurance premium is paid in the early stages of the loan as the early years of the loan carry more risk.

Ian