Loan repayment query

ickle_me

A close relative has a Tesco loan, which IIRC has 12mths or so left to run. He has had it for 5.5 years, and has not defaulted once. He pays for payment protection - but has been off long term sick for 6 years. He is still paid some of his wages through a income plan with his employer., hence how he can manage the monthly repayments.

Is there anything he can do about claiming this payment protection or can he not do that as he was off sick before he started the loan..? or is there anything he can do to claw back what he has paid for the PP, if he can't?

I really dont know how to advise him, tbh and thought of here as I do the comps:o

Rafter

ickle_me

It might be worth a letter of complaint that due to a pre-existing medical condition he would have been unable to claim and therefore requesting that all the insurance premiums plus interest be refunded. You should be able to find a template letter on this site.

Presumably when he applied for the loan the salesperson didn't point this out clearly, and therefore the insurance was missold. Nothing ventured, nothing gained.

Good luck

R.

ickle_me

tanks rafter:beer: