Can i claim PPI back

SCO

I have a loan still in its term. The rate of the loan is 7.9% but the loan an the PPI are the same loan (comes off in one monthly direct debit) so the actual APR will be higher:mad:, PPI puts just under £2000 onto the loan:eek:. As far as i know these polices are banned now with the one monthly d/d.

Any help is welcome. Thanks.

di3004

SCO wrote: »

I have a loan still in its term. The rate of the loan is 7.9% but the loan an the PPI are the same loan (comes off in one monthly direct debit) so the actual APR will be higher:mad:, PPI puts just under £2000 onto the loan:eek:. As far as i know these polices are banned now with the one monthly d/d.

Any help is welcome. Thanks.

Hi there

You are correct that these type of polices have been stopped now, and even though there will be insurance on offer, I think you can have a choice to opt for this after taking out the loan etc, but the ones that are added in with the loans are no longer being sold to what I know of.

Check the link below, if mis sold follow the guidelines to the reclaiming, and check the checklist as well.
Ask for further help if required, good luck.
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance