Help with loan repayment.

Danzo_2

Ho everybody

My other half banks with barcleys and took a loan for 3000 out over a year ago and has been paying 120 a month back without any problems meeting the repayments.
I noticed that she is still 3700 in debt so it triggered my mind that she is getting seen off with something so I made her ring the bank for all the details.
The catch is that she was paying all this protection stuff at 36 pound a month and the bank reckon they can only get her repayments lowered if she gets a newer loan without the insurance and stuff taking her upto 4500 pounds. I asked her what she would be paying back in total over the five yeaas and it is over 8000 pound!!!!!

Should she go to another place and get a loan to pay this off with better interest ect.

I am a newbee and my work schedule really means I cant spend hours on end looking through this amazing forum.
Any help would be really apreciated.

Danzo

[Deleted User]

any chance she was mis sold the ppi?

Danzo_2

woodbine wrote: »

any chance she was mis sold the ppi?

Not so sure, she said that she did not realise she was paying it as such .