LTSB Total Refund?

gettingsMart

I believe I have a solid case for an LTSB PPI refund but I was told that I might have a case for a total refund of ALL the repayments and premiums. Is that possible?

Aside from being generally mis-sold the loan in terms of PPI, I was at the time a partner in a company and had a 50% share holding. Apparently I should never have been given an off-the-peg loan in the first place (the limit is a 20% share holding). It means that I could never have claimed on the unemployment part.

Sorry if I'm being dense. Any advice will be gratefully received.

robbedofmymoney

gettingsMart wrote: »

I believe I have a solid case for an LTSB PPI refund but I was told that I might have a case for a total refund of ALL the repayments and premiums. Is that possible?

Aside from being generally mis-sold the loan in terms of PPI, I was at the time a partner in a company and had a 50% share holding. Apparently I should never have been given an off-the-peg loan in the first place (the limit is a 20% share holding). It means that I could never have claimed on the unemployment part.

Sorry if I'm being dense. Any advice will be gratefully received.

if you win your case for a mis-sale of ppi you will get back every penny and pound you paid for the ppi element, including interest that was put on it,

you will also then get 8% simple interest on the amount you have paid

let us know how you get on, and if you need any help please shout

marshallka

If you believe you have been missold the PPI then you can make a complaint. The guide is here

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance?dd

If you are on about the misselling of the whole loan and are thinking about complaining about that then you probably should make this seperate although the PPI was part of the loan I assume if this was a single premium. Are you wanting to make a complaint about the loan being sold also?

gettingsMart

Well, yes, I do think the whole loan was missold. Originally, I was kinda forced into consolidatiing an overdraft and other debt but the loan should not have been sold to me in the first place.

Has anyone heard of a loan being paid back? Seems unlikely to me, but I'm sure I was told this by an agent (who has now disappered!) for a PPI claims solicitor.

robbedofmymoney

gettingsMart wrote: »

Well, yes, I do think the whole loan was missold. Originally, I was kinda forced into consolidatiing an overdraft and other debt but the loan should not have been sold to me in the first place.

Has anyone heard of a loan being paid back? Seems unlikely to me, but I'm sure I was told this by an agent (who has now disappered!) for a PPI claims solicitor.

i would be very surprised if you were able to write off the whole loan, there have been various companies suggesting it can be done and charging fees to do so, but as yet i do not think it has been done succesfully, and has only cost the consumer more money.

if you were miss-sold the ppi then go for that, if you hadn't have taken the loan you would still have had the original debt to pay off anyway, so you are probably not that much worse off if at all.

i know every case is different i i don't fully appreciate your situation, i'm just trying to give a point of view.