Hello Cat,

Thank you for your words of wisdom and it is refreshing to know that you have seen the light.  My circumstances have changed and I am definately a lot less "gullible" but if I ever need a loan again I will be avoiding Lloyds TSB and PPI.

icc.chef

Hmmmm.

When I worked for a Bank, we were compelled to use all tactics we could to sell PPI with every loan we agreed. And it never worked; customers would very often ring back and leave a message to cancel it, or send back their agreements altered and needing redoing (we used to have to write them out on special forms in those days!) which, of course, meant more time and trouble for us. They would avoid talking to us again - not good for customer relations at all. But the pressure was enormous; I have written elsewhere that even facing abject poverty I would never again work for a Bank.

However - and without disrespect to you, Chef - I think we have to be crystal clear about this. The hard sell can make you feel obliged to take the PPI, but it is not the same thing as being actually told that you must take it if you want the loan. The former is very poor business practice and pretty shameful, but only the latter is illegal.

Don't get me wrong - this insurance is naff, expensive, and rarely pays out. It is also usually discriminatory, as it won't cover a pregnant woman if she is made redundant, something I once fought tooth and nail with Direct Line - and yes, I won; they paid up. But we do need to absolutely sure what we are discussing here as not making the distinction would be wrong.

Cat

Hi Tim,

Lloyds TSB, I have had loans with them in the past and currently have one. All times I was made to feel like it was a condition of the loan.

icc.chef

We have heard several stories recently about loan applicants being told that they can have a loan only if they take Payment Protection with it!

These stories have been told to us by customers who have applied to small finance companies and to big banks.

Have you ever been told the same? and who was it that made it seem like a condition of the loan?