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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

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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/forum/payment-protection-insurance-ppi/

WARNING TO ALL

Please be aware of acting on advice given by PM .Anyone can make mistakes and if advice is given on the main forum people can see it to correct it ,if given privately then no one can see it to correct it. Please also be aware of giving your personal details to strangers

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  • 2 months later...

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

 

http://www.consumeractiongroup.co.uk/forum/payment-protection-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.

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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. . .

WARNING TO ALL

Please be aware of acting on advice given by PM .Anyone can make mistakes and if advice is given on the main forum people can see it to correct it ,if given privately then no one can see it to correct it. Please also be aware of giving your personal details to strangers

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Excellent news. My friends got a letter this morning saying the mis-sold PPI and interest etc of £20K is being refunded to their account. Seems the PPI wheels are well and truly turning:p

BANK CHARGES

Nat West Bus Acct £1750 reclaim - WON

 

LTSB Bus Acct £1650 charges w/o against o/s balance - WON

 

Halifax Pers Acct £1650 charges taken from benefits - WON

 

Others

 

GE Money sec loan - £1900 in charges - settlement agreed

GE Money sec loan - ERC of £2.5K valid for 15 years - on standby

FirstPlus - missold PPI of £20K for friends - WON

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

WARNING TO ALL

Please be aware of acting on advice given by PM .Anyone can make mistakes and if advice is given on the main forum people can see it to correct it ,if given privately then no one can see it to correct it. Please also be aware of giving your personal details to strangers

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First Plus. The PPI was 13K on a 50K loan but only valid for the first five years of the loan. As soon as I saw the paperwork I smelt a rat:p

BANK CHARGES

Nat West Bus Acct £1750 reclaim - WON

 

LTSB Bus Acct £1650 charges w/o against o/s balance - WON

 

Halifax Pers Acct £1650 charges taken from benefits - WON

 

Others

 

GE Money sec loan - £1900 in charges - settlement agreed

GE Money sec loan - ERC of £2.5K valid for 15 years - on standby

FirstPlus - missold PPI of £20K for friends - WON

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

WARNING TO ALL

Please be aware of acting on advice given by PM .Anyone can make mistakes and if advice is given on the main forum people can see it to correct it ,if given privately then no one can see it to correct it. Please also be aware of giving your personal details to strangers

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

 

http://www.consumeractiongroup.co.uk/forum/payment-protection-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.

 

Great news for you and well done. Wow I love a happy ending:D

If any of my posts are helpful, please feel free to click my scales. All information is given as my opinion only, based on my own personal experiences. I have no legal training, but have educated myself in aspects of consumer legislation. My motto "NEVER GIVE IN, NEVER SURRENDER", THERE IS A WAR ON YOU KNOW

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