Can you be charged interest on PPI?

kittiej

I could well have dreamt this but I thought I saw somewhere that if you take out PPI or GAP insurance that the loan company shouldn't charge interest on these?

Can someone put me straight please?

Thanks

russt2000

if your ppi is a front loaded single payment on your loan ,yes you will be paying interest on it. thats why they do it , a nice earner for them . thats why when people reclaim , you have to insist on the ppi premium and all the interest charged on it to be paid back .plus 8% interest as they have deprived you of that money {as the court would award}