Thread: Blri

Anyone know if the same principles apply to Business Loan Repayment Insurance? I have a BLRI premiun of £4401.98 plus interest £2610.82 added to the original loan on the 27th Feb 2005. I am self employed sole traded.

Originally Posted by ataction

Anyone know if the same principles apply to Business Loan Repayment Insurance? I have a BLRI premiun of £4401.98 plus interest £2610.82 added to the original loan on the 27th Feb 2005. I am self employed sole traded.

Hello ataction.

I am not to sure regarding blri, but I would feel that it should follow the same principle for mis-selling. It should be appropriate to your requirement and should pay out if needed. Otherwise you are sold a policy that you cannot use and they make lots of money on.

I am pursuing a claim so will keep ypu posted

Well I started this claim without the same enthusiasm I had for reclaiming my bank charges. The pursuit of the refund of bank charges was a mission, but eventually I was successful in all claims. The BLRI case seemed a little more complex, however I have today received an offer of a full repayment of the premium plus interest accrued. They are going to credit my loan account with the amount. The only query I have is regarding the interest accrued. Should I just agree and let them calculate the interest or should I seek confirmation of the amount.

Well done on your seccess.

I would personnaly not trust them to calculate the amount.

you can use the standard bank charge spread sheet to calculate the figure for you. simply enter the amount of the PPI when the loan started in the charges field in the sheet, and the date it started then change the interest rate to the APR you were charged and it will calculate the amount + Contractual for you.

Originally Posted by ataction

Well I started this claim without the same enthusiasm I had for reclaiming my bank charges. The pursuit of the refund of bank charges was a mission, but eventually I was successful in all claims. The BLRI case seemed a little more complex, however I have today received an offer of a full repayment of the premium plus interest accrued. They are going to credit my loan account with the amount. The only query I have is regarding the interest accrued. Should I just agree and let them calculate the interest or should I seek confirmation of the amount.

Hello Ataction,

I was so happy to hear your excellent news, just shows to keep at them. Now as for the refund, that is your choice as to what figure to settle on.

I would be like minded as them, I would want the contractual orstatutory interest from the date it was taken, and if you don't ask, well they are not going to give it freely. Ask them for a Breakdown of the calculations before you accept the offer.

Well done and have a very merry xmas

Thanks for the advice. I am accepting the 7K settlement and moving on.

This one is done and dusted.

I have some useful tactical information for potential claimants, particularly for business accounts and the self employed. I will post with this information in due course.

Originally Posted by ataction

Thanks for the advice. I am accepting the 7K settlement and moving on.

This one is done and dusted.

I have some useful tactical information for potential claimants, particularly for business accounts and the self employed. I will post with this information in due course.

Again well done on your great success. It would be great to see new information if you could post up

Originally Posted by ataction

Thanks for the advice. I am accepting the 7K settlement and moving on.

This one is done and dusted.

I have some useful tactical information for potential claimants, particularly for business accounts and the self employed. I will post with this information in due course.

Congratulations. Im really pleased for you.
I really look forward to the posting of information regarding Business accounts, and self employment..
Thank you.