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okay guys...need some advice..apologies for long post!!
Have a personal loan with PTSB. In Feb 2010 I was temp laid off. At that time I had 9 payments left on loan so asked bank if I could get PPI to cover payments...manager told me that PPI would not cover for temp lay off! So he advised that I take a 3 month payment break to give me a chance to sort finances! In May I took redundancy and continued to make payments but now i find i'm struggling so i applied to bank 3 weeks ago for PPI to kick in! I got all paperwork sorted and went back to him. When I was with him, i asked if payments could be stopped until a decision had been made as I could not afford to pay this months payment, due to come out on 23rd but he advised that he should not stop payments in case it affected PPI, but would alter date to 31st so that it would give more time for decision to come back!
I was overjoyed to get a letter from insurers stating that they would pay my claim...then I read the rest.....
They informed me that they would backdate to my redundancy date..but that they would not be making anymore payments due past 23rd October as this was end date of policy!! Which means that they did not pay for the payment he altered last week!!! (400 euro!!!) and they will not pay for the months that the loan has now pushed on because of the payment break I had!!
I was never advised by the manager that this would happen and feel that I have been given the worst advice which means that the little protection and help I had has now been undermined and taken away from me!!! What should I do??
Have a personal loan with PTSB. In Feb 2010 I was temp laid off. At that time I had 9 payments left on loan so asked bank if I could get PPI to cover payments...manager told me that PPI would not cover for temp lay off! So he advised that I take a 3 month payment break to give me a chance to sort finances! In May I took redundancy and continued to make payments but now i find i'm struggling so i applied to bank 3 weeks ago for PPI to kick in! I got all paperwork sorted and went back to him. When I was with him, i asked if payments could be stopped until a decision had been made as I could not afford to pay this months payment, due to come out on 23rd but he advised that he should not stop payments in case it affected PPI, but would alter date to 31st so that it would give more time for decision to come back!
I was overjoyed to get a letter from insurers stating that they would pay my claim...then I read the rest.....
They informed me that they would backdate to my redundancy date..but that they would not be making anymore payments due past 23rd October as this was end date of policy!! Which means that they did not pay for the payment he altered last week!!! (400 euro!!!) and they will not pay for the months that the loan has now pushed on because of the payment break I had!!
I was never advised by the manager that this would happen and feel that I have been given the worst advice which means that the little protection and help I had has now been undermined and taken away from me!!! What should I do??