Thread: Hello

Hi, everyone.

A colleague of mine pointed me at the Consumer Action Group. I'm not
sure how the topic came up but I mentioned to him that I had been
initially declined for a loan by AA Financial Services but the person I spoke
to said she would pass it on to the underwriters and see what they could
do. When she called back she told me that they had agreed but only if
I would take out the Payment Protection Insurance. I agreed because
I was desperate for a loan - I wanted to consolidate some debts and it
would make things a lot easier for me to manage. I didn't want to have to
phone another loan company and go through the whole routine again (giving
all my details, etc..). So, I agreed. I can prove it's out of character, I have
had many loans (from other companies) and it's always my policy NOT to
take out PPI so why would I in this case ?!?!

I thought that this practise of forcing people into PPI had only recently
become illegal so I wouldn't have a case to claim back the payments (on
a loan of £10k the insurance was over £1k).

I would recommend AA Financial Services. I was receiving
loan junk mail (i.e. sales leaflets) from them every couple of weeks.
I phoned them and wrote to them many times telling them I wanted them
to stop and in the end I told them I would take legal action if they kept
sending stuff. They finally stopped.

I'm so grateful that there's a consumer action forum, it's nice to see that
there are other people making successful claims in similar circumstances.

Bye for now
Trevor

Hi Trevor

Welcome to CAG. If you were told that, to get a loan you would have to take out their insurance, then you have a claim for Mis selling. Have a good look around the PPI forum here for more guidance:

http://www.consumeractiongroup.co.uk...insurance-ppi/

Hi, ukaviator

Thanks for your help. I will check out the PPI forum. I was surprised
when I looked yesterday that there wasn't any other mention of AA
Financial Services.

Best regards
Trevor

Following your advice I used one of the templates which I found in

http://www.consumeractiongroup.co.uk...insurance-ppi/

It has been a couple of months since I wrote to AA Financial Services
(part of Halifax/Bank of Scotland) . Today I received a cheque for full
refund of the PPI which I had been told was a condition of getting the
loan - Total repaid £2650

At the time I took out the loan I thought I 'smelled a rat' when I was told
I had to have the PPI. I should have just refused at the time but at least
the Halifax / Bank of Scotland did the right thing in the end.

Thankyou to ukaviator and the Consumer Action Group for all the useful
information. Without reading other success stories I might not have even
tried to get the refund.

That's great well done . . . Glad to see. You stood up to them, and you are now even more aware of some of the tactics companies use. Great job. . .

Which bank was that with Goldlady? .. That is a good amount to get back on PPI.

Thanks for the reply Goldlady. Well done on getting that back . . .