ppi reclaim

[jonnyash1]

hi john here if you have a ppi on a loan and have used it if your claiming back ppi payments do you have to pay back the loan amount and the ppi premium or just the ppi premiums that the ppi paid.thanks.

[Hurricane Puffrose]

Re: ppi reclaim

Hiya jonny and welcome to LB!
your in just the right place for your enquiry, and I will BUMP this thread for the experts

P

[di30]

Re: ppi reclaim

hi john here if you have a ppi on a loan and have used it if your claiming back ppi payments do you have to pay back the loan amount and the ppi premium or just the ppi premiums that the ppi paid.thanks.

Hi and welcome John

Sorry if I have mis read on this (still early for me, and not a lot of sleep last night) :tinysmile_aha_t: LOL.

Right, so what you are saying is, that you've made a successful claim on the loan, for example sickness/unemployment etc??

To what I know of when you make a claim, you still pay the ppi back within the loan, that still continues.

However, if you have made a successful claim, for any of the above, you can still make a reclaim/complaint, depending on the reasons you have (for eg, it may cover you for one product but not the other), but the amount due will be reduced because of making a successful claim, and therefore if you did do this, the ppi should be cancelled, then just reduced to the loan monthly payments.

As said above, if I've misread, I do apologise for that, and please let us know otherwise, and if you require any help.

[Turboman]

Re: ppi reclaim

I agree with Di--but can you reword the opening post pleasw so we are sure what you are asking

[jonnyash1]

Re: ppi reclaim

thanks for all the replys heres the story 2005 december took a loan and was told by the salesman to take the gold ppi i wanted the silver one a bit cheaper but went gold as he said it would pay off the loan totaly if by chance i died or had to give up work for good due to dissabilty or such like .
well forward to 2011 september and the unfortunate happened and im dissabled not good so i claimed and fair enough the gold policy started paying the full monthly sum everything was good till august they said its the last payment they would make i was in a right state what to do now phoning to complain got nowhere so im claiming the ppi back .the salesman deffenatly said it would be totly paid off not just 12 months of it.now im working it out how much to claim back then id have to refund the sum they paid but doi only have to pay bach the years ppi sum or the loan amount aswell . thats it boaring or what my wife has give up full time to to care for me so at 54 and 51 were into benifits for the first time ever but we do find its not been to bad people at gov.com have helped us a lot .thanks for listening to me going on john.