Reclaiming payment protection
Reclaiming payment protection
Author
Discussion

thinfourth2

Original Poster:

32,414 posts

220 months

Wednesday 7th September 2011
quotequote all
I see loads of ads proclaiming i can get thousands back as i had a loan with egg.

So where is the scam with these companies?

Roger Dodger

12,320 posts

210 months

Wednesday 7th September 2011
quotequote all
I presume they take a cut.

Some Banks have set up specific depts to sort it and are throwing cash at the problem to close it off asap.

thinfourth2

Original Poster:

32,414 posts

220 months

Wednesday 7th September 2011
quotequote all
So is it best to approach egg directly?

Oi_Oi_Savaloy

2,314 posts

276 months

Wednesday 7th September 2011
quotequote all
I think if you go to moneysavingexpert there are template letters for you to download and a step by step guide. I'm sure Lewis was the pioneer of all this.

Not done it myself but I think i'm right!

DeanR32

1,840 posts

199 months

Thursday 8th September 2011
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How do you know if your loan had payment protection included? I thought they had to ask you if you wanted it first!

Irrotational

1,580 posts

204 months

Thursday 8th September 2011
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I think the point is that some of them asked very very quietly....

Zippee

13,797 posts

250 months

Friday 9th September 2011
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Irrotational said:
I think the point is that some of them asked very very quietly....
But then again shouldn't some of the blame be on the borrower for not checking their loan docs correctly? PPI is clearly split out on most.
That said, some lenders did push customers to take it when it was unsuitable, for retired, students, self employed etc. There were massive incentives to staff who sold the most policies at the time.