Payment Protection Insurance

[specialkuk]

You can take the loan out and then you can cancel the payment protection at a later date. Loan companies make huge amounts of cash through payment protection so they do offer you a lower apr with the protection. But my advice is to find out the address that you need to write to, it will always be an address as they want to make it as hard as possible to do it. There are then many companies on the internet that will give you independant payment protection at a fraction of the cost. I reduced mine from £60 down to £6. So its definatly worth checking out.

[specialkuk]

The payment protection is a separate service, but is normal sold within a package. I know for a fact the way egg work is they offer you a package always with the payment protection included. Once you take out the loan all you do is write to the address and get the payment protection cancelled.

 

I hate payment protection as two of my credit cards have had it on for years while i was very bad with my credit and i have worked out i have payed thousands.

 

Sometimes when you sign up to the loan you get a sepparate letter from the payment protection company with something like,'you have 7 days to write and cancel payment protection plan before it starts' try and do this if you can.

 

Thanks