Thread: Seeking advice on PPI

Originally Posted by garflen

I am seeking some advice on a loan I took out with Barclays bank in 2002 see below, which I am still paying off. I am concerned that I may have been conned into taking out PPI insurance, which has made my repayment increased
dramatically and increased my original loan amount by 25%.


The loan is in two parts with the premium loan being the single premium payment to purchase Barclay loan Protection.





When I was taking out the loan the person that gave me the loan did not do the things as listed below

1. I was not asked whether I had any other insurance which would cover the loan

2. I was not told I could buy PPI elsewhere to cover the loan

3. I was led to believe that Payment Protection Insurance was compulsory

4. I was told that I would stand more chance of getting the loan if I took the Payment Protection
insurance.

5. It was not explained to me that there were certain exclusions within the policy that could affect me.

6. I was definitely pressured into buying the PPI, I needed the money so I had no other choice.

My questions to you guys are, can I claim although I am still paying back the loan? Is there a time limit on claiming?


Could you please advise if I have valid claim and if I should proceed with a case against them?

I still have all my loan documents including the insurance policy certificate from Barclays insurance Dublin.

Hello and welcome,

The first thing that comes to me when looking at your figures is that they charged you £5,034.96 for cover on a loan of £13,000, rather extortionate

I personally would be claiming it back. Please read around the stickies which give lots of information relating to the legality involved. There are a few fellow caggers involved with Barclays, Tonycee and hopeful, have a read of their threads to see what is involved and their are both more than helpful if you come upstuck.

Are you excluded from the policy under any of the terms and conditions???