Do you think I can reclaim PPI?

Options
FGregg123
FGregg123 Posts: 1 Newbie
in Reclaim PPI & other insurance
Hi all,

First off I have held a Lloyds Bank current account for 33 years. I think it was called Club Lloyds at the time, the Bank said I could only have this account and no other. It came with a Credit Card and an Overdraft for a Monthly fee, so anyway as I was ineligible for the other Current Accounts I taken it out. 10 years later they took the Credit Card off me because it never got used. Around 2007 I got fed up of them charging me for not using any benefits so I went into my Local Branch and they changed the account into a Classic Account (which I still hold).

Furthermore, I took a loan out with Abbey National (Before it was Santander) for £7,500 and repayments included £7,500 interest. Which is ridiculous.

Could I claim any of this back as I think it was PPI.

Thanks.

Comments

  • [Deleted User]
    [Deleted User] Posts: 35,242 Forumite
    First Anniversary Photogenic Name Dropper First Post
    Options
    None of that sounds like PPI.
  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
    First Anniversary Name Dropper Photogenic First Post
    edited 24 February 2018 at 4:20PM
    Options
    FGregg123 wrote: »
    Around 2007 I got fed up of them charging me for not using any benefits so I went into my Local Branch and they changed the account into a Classic Account
    Eleven years on, I suspect the Bank would be able to impose a timebar on any complaint about this old packaged account. Why didn't you complain at the time you cancelled the paid account?
    FGregg123 wrote: »
    I took a loan out with Abbey National for £7,500 and repayments included £7,500 interest. Which is ridiculous.
    You agreed (and paid) to this loan at that rate of interest. You won't now be getting a refund of it how ever "ridiculous" it was. Do you have documentation showing this was the interest?
    FGregg123 wrote: »
    I think it was PPI.
    Interest is not PPI.
  • BorisThomson
    BorisThomson Posts: 1,721 Forumite
    Combo Breaker First Post
    Options
    Interest on a loan is the norm, it is not ridiculous.

    What exactly do you believe to be payment protection insurance?
  • dunstonh
    dunstonh Posts: 116,370 Forumite
    Name Dropper First Anniversary First Post Combo Breaker
    Options
    Could I claim any of this back as I think it was PPI.

    Nothing you have typed sounds like PPI was being paid.
    Furthermore, I took a loan out with Abbey National (Before it was Santander) for £7,500 and repayments included £7,500 interest. Which is ridiculous.

    Nothing sounding ridiculous there. You pay interest on money you borrow.
    I am an Independent Financial Adviser (IFA). The comments I make are just my opinion and are for discussion purposes only. They are not financial advice and you should not treat them as such. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.
  • -taff
    -taff Posts: 14,499 Forumite
    First Anniversary Name Dropper Photogenic First Post
    Options
    You're talking about bank account charges, not PPI. Suggest you look them up
    Shampoo? No thanks, I'll have real poo...
This discussion has been closed.
★ ★ ★ Meet your Ambassadors

Categories

  • All Categories
  • 343.2K Banking & Borrowing
  • 250.1K Reduce Debt & Boost Income
  • 449.7K Spending & Discounts
  • 235.3K Work, Benefits & Business
  • 608K Mortgages, Homes & Bills
  • 173.1K Life & Family
  • 247.9K Travel & Transport
  • 1.5M Hobbies & Leisure
  • 15.9K Discuss & Feedback
  • 15.1K Coronavirus Support Boards