ppi claim or statutory right of cancelletion?

[maggott]

hi all,I have an on going personal loan which has run for 2years with no missed payments, I was thinking of claiming back the misold ppi but when I looked through the paper work I realised that I had not received any policy schedule policy number or terms and conditions,today I contacted the insurance company who said they would send them out.I have had a loan off this company before and kept the old schedule which states:THIS INSURANCE IS OPTIONAL AND YOU HAVE A STATUTORY RIGHT TO CANCEL YOUR POLICY DURING A PERIOD OF 30 DAYS FROM THE DAY OF PURCHASE OF THE POLICY OR THE DAY ON WHICH YOU RECIEVE YOUR POLICY WHICH EVER IS THE LATEST,The question is would I be able to cancel when I receive the policy and claim back all my premiums any thoughts much appreciated

[di30]

Re: ppi claim or statutory right of cancelletion?

Hi

I would of thought so.

But your able to cancel at anytime by doing so in writing.

The cooling period is normally that of 30 days, but if you did not receive any of your documentation - with these details, then you should make a point of this in a letter, this is no fault of your own, and request to cancel.

However, if you have a reclaim, due to being mis sold the policy in the first place, it may be wise to get this resolved first, where they then have to put this loan back in the position as if no ppi were taken out, its up to you of course.

Have you further updates on this?