Thread: Claiming PPI on settled Halifax loan

Hi All,

I took out a 5 year loan with the Halifax in 2002 and paid it off last year.

The loan was for £7500 @ 8.9% APR. I took out PPI on the loan. The total cost of the loan was £11,220.
After about 9 months or so, i rang the Halifax to check how much i had paid off the overall loan & what was outstanding.

To my horror it had bearly moved. When i asked why they said that at the start of the loan the repayments generally pay the PPI and interest first.

I asked if i could cancel it and was told i could not. After several more phone calls and getting no-where, i wne tinto the branch only to be told that i could cancel it but would have to take out a new loan???

After readi through parts of the site looking up various grounds for a refund. I know that -

A) I was never told i could shop around or take out PPI elsewhere.

B) I was never told that the PPI was added to the loan as a single premium amount of which interest was then charged - i only noticed this after re-examining the paperwork at a later date.

Would this be enough grounds to claim on?

Also, with the 6 year rule, would this apply from when i took out the loan or from when it was settled? As in is it too late to make a claim?

A friend of mine who actually works for HBOS say that i should go for it as Halifax are really starting to pay out over PPI claims?

Any advice would be greatly appreciated

Danny

Similar Threads:

• Halifax Loan PPI
• settled loan, can i reclaim PPI?
• Claiming back interest and PPI on a loan to payoff my overdraft which was all charges
• Halifax loan PPI
• Halifax Loan and PPI

you have definatly got a case, have a fead around the PPI forum and you will see that Halifax seem to play by there own rules when (mis)selling PPI,
regards BB

Absolutely! My claim against the Hellifax relates to PPI applied to for a credit card, and I've found them to be quite stubborn over all of this. My own case is now at the Court stage with both parties having filed papers (the Halifax defence should be copied onto me by the end of this comin week) and from there it looks like we'll be battering it out in court.

Wonder if it will be Howard or the girl who sings on the flying swan who appears in front of the judge?