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Open & Direct PPI on TV finance


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Bought a TV last year on buy now pay in 12 months, expecting to be able to pay it all off in one go. However, my finances have gone downhill & I'll be stuck with the monthly payments. Have never claimed on ppi when I've had it before & always felt it was a waste of money. However, when I bought the TV the staff in store told me I could have free ppi covering accidental death only for a year then cancel before inception of the full agreement.

 

However, when I telephoned Open & Direct, I was told I should have cancelled within 30 days of signing (cooling off period) & could only cancel agreement by paying off money borrowed by the due date. So now I'm stuck with paying not only the insurance of £300, but an extra £400 interest on top of the cost of TV & interest at 32% on that!!! I don't necessarily begrudge the cost of the TV although the interest is extortionate. However, it was my mistake in not putting my pennies aside.

 

I feel that I was mis-sold the ppi. Is there anything anyone can suggest? Do I complain to the retailer for mis-selling it? However, I have no evidence & it was in the agreement that I had to hastily sign in store & I did have the 30 days to check the agreement. Can I still argue that I was mislead?

 

Any ideas gratefully received

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  • 3 weeks later...

Had a letter back basically saying I should have cancelled within 30 days but they would cancel the cover & have allocated £68.72 to my account. This is WAY below the amount I'll be paying, so intend to write again to get the rest of it 'allocated' to the account.

 

Will keep you updated

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  • 3 weeks later...

SUCCESS!!!

 

Got letter back from Open & Direct yesterday. As a 'goodwill' gesture as I'm unhappy about their response & the way the PPI was sold, they will remove the PPI from my account & allocate all the money to that account!!!

 

Thanks for the help CAG

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Was that last remark sarcastic? I was about to 'Quick Reply' and offer congratulations but now... look, this is a self-help site, anyone joining who expects 'service' should really try somewhere else. If you've got a problem, all you can do is post your situation and then read elsewhere to see if anyone else has anything similar. There are plenty of threads on mis-sold PPI all over the forum - the idea is to read through everyone elses' experiences and help yourself by following advice given there, updating in your thread as you go...

 

Sorry, but every time someone gets shirty because no one replied to their thread, I feel sorry for all the mods, Dave, Bankfodder, Bookworm et al., who are normal people just like you and I, who give up their free time and probably gave up a fair bit of their own money at the outset...and all the other people who post on here regularly who just want to help...

 

I apologise if I have misread your intention. Congratulations on your refund.

-----

Click the scales if I've been useful! :)

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My remark definitely WASN'T sarcastic, I got a lot of help from reading other threads & from PMs. I started this thread as an update on how things were going. I don't blame anyone for not replying on this thread, and I sincerely appreciate all the help I've got on this site.

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