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Hi,

 

Not sure if i'm posting on the correct place, but I have a question about PPI.

 

Wonder if anyone can help.

 

I took out a loan with Halifax in July 2008. I also took out PPI. On my agreement is listed the total price for the loan at 10.9% APR and total price for the insurance at 10.9%.

 

Unfortunately by December 2008 I was on a DMP with the CCCS. The Halifax passed the loan over to Blair Oliver and Scott to recover the balance. Blair Oliver and Scott contacted me and we agreed lower payments which was fine. They said I should cancel the PPI which I have just done. The Halifax have said I am due a rebate of £3109 and I am to contact them to proceed with the cancellation.

 

Before I do though I have read on this forum that this balance may go towards the arrears of the loan, which I think are about £1800. I don't mind this but am I within my rights to ask for the remainder to come to me??

 

Thanks for any help.x

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am I within my rights to ask for the remainder to come to me??
Yes it's your money.

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Are you sure about the rebate? Have you got it in writing? They don't normally pay out that easily! But if you are sure then I don't see why the balance shouldn't come to you once the arrears are paid.

 

I'm currently doing a PPI reclaim and that will work that the actual PPI paid will be taken off the balance of the loan and the rest (interest charges) will come to me so it works out at about half to me, half to loan. Might be different though as I have no arrears.

 

Someone with more knowledge will probably comment later.

 

Jan

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the actual cost of the policy is/will/should be refunded back into the loan this is because the loan is current and not paid up any payments made to it inc interest will come to you

If I have been of help to you please feel free to click my scales to the left Thanks.:)

I have no legal training and the advice I offer is what I have learnt here and offered as a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner.

 

Finally if you succeed with your claim please consider a donation to consumer action group as those donations keep this site alive.

 

CARTER V Co-Op

BANK CHARGES

REFUNDED £3567

 

POMPEYFAITH V Co-Op PPI

OFFER MADE BUT REFUSED

ONGOING AND STILL ONGOING

NOW WITH THE OMBUDSMAN

 

R.I.P BOB aka ROOSTER-UK you have always been a Gent on these boards and you will be remembered for that.

 

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imho the policy cost should clear the arrears

If I have been of help to you please feel free to click my scales to the left Thanks.:)

I have no legal training and the advice I offer is what I have learnt here and offered as a matter of support. Before you commit to any Legal action you are advised to contact a qualified legal practitioner.

 

Finally if you succeed with your claim please consider a donation to consumer action group as those donations keep this site alive.

 

CARTER V Co-Op

BANK CHARGES

REFUNDED £3567

 

POMPEYFAITH V Co-Op PPI

OFFER MADE BUT REFUSED

ONGOING AND STILL ONGOING

NOW WITH THE OMBUDSMAN

 

R.I.P BOB aka ROOSTER-UK you have always been a Gent on these boards and you will be remembered for that.

 

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