Thread: Online PPI: Please help me!

Hi Everyone,

I wonder if anyone can help me. My question is basically: Has ANYONE on this site successfully claimed back PPI on a product that they applied for online?

The facts of my case are:

I took out an Egg loan in 2004 with ppi of close to 2k. The loan and ppi were calculated together to be repaid over 65 months term with 6.9 a.p.r. and 6.7 annual interest rate applied to the total amount, to be repaid monthly, although i admit that i didnt know what this meant!. My last date of payment is at the end of 2009.

However, the only reason I took out PPI online was because I believed I would not get the loan had I not ticked the box.

I was ACCEPTED for the loan online and was told they'd send me the 'agreement' to sign. This agreement was basically a piece of paper which stated the loan amount, the PPI amount, the monthly payments, the interest rates, and a place for me to sign. In another bundle, there were about 10 differet documents about the PPI which i neither read nor understood.

I was diagnosed with PN depression last year and have been unable to work. I wanted to make a claim on my PPI for sickness but i couldnt find the documents they sent me in 2004. So I logged on to their website and after seraching for hours, i found out that making a claim is pointless because the PPI is worthless to me now. I didnt know that the amount you get if you get sick reduces the further you are into the loan. I was NOT advised of this. So at the moment I can only get about 6% of the £2k PPI!

Another significant point is that I've had type 1 insulin dependent diabetes since childhood. When i applied online for the loan, there was no info about pre existing medical disorders. You just ticked a box and a decison was made in minutes. After reading info on some websites, I sent off one of those claim letters to EGG stating that I was mis-sold PPI. They replied to me today, stating that all the info was included in the T&C's they later sent to me by post. I admit to signing the loan agreement but I dont admit to accepting the terms of the PPI because I was not properly advised about it.

Is there anyone here who has also had a justification from a lender basically stating "because the loan or credit agreement was done online, choice of PPI was voluntarily AND T & C's were by subsequently sent by post in any event".

Right now, Im in an absurd situation where I am STILL repaying my loan as well as paying for a PPI I cannot even benefit from even though i have been sick for a year (There is no point making a claim for sickness cover because I apparently had to have claimed within 120 days of being sick: another onerous term i never realised about till i went on to their website and because I have had the loan for 52 months and will get back less than 6% of 2k and that is if they accept my claim).

I have not informed them that I was diagnosed with depression after taking out the PPI but i did tell them i had a pre-existing illness (diabetes) so they should never have sold me the PPI that i would never have been able to claim. They ignored this fact in the letter they sent today.

Do I pursue the mis-sold, try to get back my 6% or just give it up because it was sold to me online?

Please Please Please help!

Any advise will really be appreciated as I really don't know what to do next.

Thanks!

Lily

Hi
Can anyone tell me why noone replied to my post? Did i do something wrong or say something i shouldnt?
My message Online PPI was posted last week but no one has replied

bump

obviously slipped through the net.
we are volunteers!

anyhow.
going by other Egg threads, what you have in your hand is the standard 'bug-off' letter.
i'd continue with the claim.

have a good read of the PPI forum here.

it will give you no end of info.

dx

and you should get back ALL the PPI premiums you have paid NOt just 6%
and any interest they have charged you in relation to the payments.

write to them and TELL them to cancel it
then deal with the reclaim.

dx

NO dont cancel the DD
request the PPI is cancelled.
else wait until the payment finish and claim then.
but i would do it now.
cancel first
then reclaim

and DONT forget the interest [PCM] they have charged you on each PPI payment [at the std card rate] and then on that total add 8% statutory rate too.

do some reading

dx