PPi claim advice for AA loan

bazzter2010

Hello

Please could you help me, was wondering if anyone thinks im entitled to a PPI claim

I took out a loan with the AA loans in Aug 2004 for 5700.00 for 11.2% apr with 72 monthly payments at 157.57.
The aa credit care was 2497.05 which with the loan equals 8197.05 and the charge for credit is 3147.99 which is a
total payment of 11345.04.

I was told I could not get the loan without having insurance with it and I was not explained the true cost of it all.
I did manage to cancel my insurance in march 2006 which reduced the monthly payments down to 139.44, I finish my loan
in October this year which means in total I would have paid 9305.40 ( roughly) by the end of my loan which seems a lot for a £5700
loan.

Please could you tell me if im entitled for a PPI claim?

As it seems to me all they have down is taken down the monthly payments and left me with the interest still from the credit care??


Please help

magpiecottage

You can certainly try. You have to complain within six years of when the original events giving rise to the complaint occurred or within three years of when you first knew you had cause for complaint - whichever the later.

Clearly it is more than three years since March 2006 but it is not quite 6 years since August 2004, so you will need to get on with it.