can anyone point me in the right direction

morgan-lewis

Firstly, I hope im on the right forum. Posted in the wrong place last time.
10 years ago and newly widowed I was faced with an unexpected bill/debt that i was unaware of so I panicked. I took out a 20k loan secured on my property. I have paid it regularly since. I received my first statement two months ago, previously they charged for a statement so I did not bother, big mistake. They now have to send statements by law or so they say. I apparently have 2500.00 PPP insurance which although I was aware that I had insured the loan, was not aware that it was for only 5 years of the 20yr term.
I have also paid 21k and still owe 24k.
Last but not least on a payment of £305.00 per month only £5.00 is paying the capital.
I would like to have it looked into but dont know where to start if indeed there is a starting place. I realise that I was a muppet. but at the time I was scared and thought I had done the right thing. Hindsight is a wonderful leveller.

michael1983l

I think you may be able to get the PPI cancelled and claim your cash back as being mis sold, I'd check with somebody else though who knows more about that stuff. For the rest of the loan, unless they have been charging you different terms to the original agreement then I would suggest you cannot do much about it as you signed the credit agreement and it would have been clear on there. I would suggest getting a copy of your original signed agreement and looking at it in great detail.