Hi gicsnash,

Yes I think it will be too late - a lot of companies add the PPI to the loan and once added, cannot be amended. Have a look at the paperwork though as you may have a 14 day cooling off period, whereby you can cancel the loan, but will obviously have to try elsewhere for another.

Regards,

Adey

I think I may have responded already but in addition to payment protection insurance being an optional product by law ( refer to ICOB rules as prescribed by the FSA ) , the chances of the insurance paying out on a pre existing condition are slim to none, so the fact they have had past health problems means nothing as far as the cover is concerned - essentially they would not be covered if the previous health problems returned anyway - always check the policy for exclusions and limitations.

 If you need any further info message me back.

Hi, I wonder can you help me. I was searching for a loan of £7000 but have a bad credit rating, as a result my parents have offered to borrow the money in their name and I will make the repayments on a monthly basis. They have only done this as they know my problems were in the past and that I can afford the repayments and I am very grateful for their help. My question is that when they were going through the application on line they were advised that they needed to take out payment protection as they have both had health problems in the past, I am wondering if there is any way of getting out of this as obivously it will not be them paying the loan and it adds an additional £3000 on to the final ammount. I simply do not see the need for me to pay insurance that will not cover me.

Thanks for your help