Ppi

Discussion in 'Credit Talk' started by i3itt, Jul 18, 2008.

  1. i3itt

    i3itt New Member

    Hi,

    Does anyone know if PPI (payment protection insurance) is reported to the credit bureaus? My parents need to re-finance their home loan, and my dad suffered some neck nerve damage in April and has his bills on PPI since late May; my mother, isn't on PPI and still working.

    However, they were turned down for a re-fi yesterday, and told a letter will explain in 10 days. Nothing else has changed with regard to their credit, and they need to re-fi before co-signing for my sister the first of August, so how do we find out what's really on the credit report? The most recent they have from beginning of June shows nothing.

    Any help appreciated, Thanks!
     
  2. CMJ1015

    CMJ1015 Active Member

    When you get the letter, it will tell you what CRA they pulled from and how to get a copy of the credit report.
     
  3. i3itt

    i3itt New Member

    Thanks,
    We know how to check their reports, indeed, as I wrote, we pulled them all in June before they applied for the re-fi. Actually, they are also on a monitoring service through chase, and none mention my father's ppi status.

    So my question was, is ppi reported meaning it may have started reporting early July or could it be noted in a portion of the report consumers cannot access?

    If anyone knows the answer to this question, it would be a great help!
    They can apply through my Dad's credit union through a special this month, but there's no reason to apply if ppi, and th acquiring of new credit, is the issue.
     
  4. NightStar

    NightStar Well-Known Member

    I don't think that was it, when you get the official denial letter if should list the reason for the decline.

    I never heard of PPI but it should not have affected the loan.
     

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