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Worth a shot???

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  • #1

    Worth a shot???

    Hi all,
    I thought i would write down my situation, then hopefully you could tell me if i was jumping on the PPI band wagon or i have a genuine claim,
    About 5 years ago i ( stupidly??? it seemed a good idea at the time ) took out a loan for £10,000 with PPI, with Endevour Personal Finance through Ocean Finance, not sure of the details on that one but will hopefully get them this weekend, ( single payment PPI ) then in June 2005 i ( stupidly??? again ) took out another loan to pay that one off and some extra, for, £25,000 with PPI for £4750 with First National ( GE money), single payment PPI,
    Since reading about it over the last 6 months or so, i didnt realise ( mr niavety ) what a rip off it really is,
    I dont remember the conversations i had with the companies so i dont know if I was mis sold it or whether i was just to niave when i took it out, but if i took it out over 15 years, with the interest that is gonna work out a lot more than £4750,
    and also if i paid the other loan off after a couple of years then should I have got a part refund on the other one??
    Sorry to waffle on, i am open to any opinion, if i dont have a case then fair call, but if i do then i will give it a go, to get my money back,

    Many Thanks

    Lee
  • #2
    Re: Worth a shot???

    This is my opinion. If the cover was for something you were ineligible for then there is a case for misselling. It would not harm you requesting the details of the loan however.

    Comment

    • #3
      Re: Worth a shot???

      Hi Lee

      If you think you may have been mis-sold the policy then go ahead and claim. Many companies sold these policies without informing their customers that in fact they were optional and further, if they failed to fully assess your employment status or medical history etc. then the result of this negligence means that you may have been sold a policy that not only was not suitable financially, you may have not even been able to make a claim.

      A great many things are simply not covered, such as self-employment, pre-existing medical conditions, mental illness, back trouble etc. These are things that should have been explained to you and if they were not then you may have a case.

      You may also have a claim for mis-selling if you did not recieve the sum you expected when you redeemed the first loan.
      • 1 thank

      Comment

      • #4
        Re: Worth a shot???

        Thanks Nattie and Cetelco, I think I will have to get all the details of both loans and the PPI policies and have a careful read of them,

        Thanks again, Lee

        Comment

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