Picture PPI advice needed please

[tink69]

We took out a secured loan Jan of last year, also took the PPI under implications that we would stand a better chance of getting the loan. After a couple of weeks I sent letter saying I wanted the PPI cancelled as we had 2 insurance policies that would cover it, and no no-one asked if there was anything in place to cover the loan and surprise surprise, they also didn't tell us that it was a one off payment at the start of the policy which also annoyed me, and pointed out that it was very high premium for the cover and to ensure that they cancelled it. Didn't think any more about it until we sold our house recently, solicitors got a settlement figure for them and I saw that they were still charging for the PPI to the tune of £6,200.

Here's the problem, I'm going after these buggars for the money, but, what I'm thinking is that perhaps we should wait until the house sale has gone through so they can't throw a spanner in the works (we need it to go through quick).

Any ideas??? anybody... please

[swanny65]

Not sure if this is any help but I also took out PPI after being told that it would increase my chances of getting the loan. I questioned this a year in with no help. However 2 yrs in when I questioned it again I recieved a re-imbersment as 'a gesture of goodwill'.! This was with Lloyds TSB. The only trouble is they are now saying that I need to continue payments for PPI even though they cancelled!! Apparently because I had the re-imbersement put into my current account and not taken off my loan??? This makes no sense to me and am looking for answers myself BUT it has encourages me to continue and not give up. They seem to change their minds depending on who you talk to. Thankfully they paid up (£1904!). If anyone has any advice on where 'legally' I stand?

[tink69]

Hey Swanny

It sounds rather like they buggared it up and asking you to pay for it, don't know what the answer to it is. The best thing for you to do is to start your own thread in the PPI section, explain the situation then someone will come along and help you out with it. You need to start the thread though so it is relevant to your problem and you and whom ever answers your thread can keep track of where you are with it.