Can my mum still claim of misssold p.p.i after a claim?

KD1

Can my mum still claim on missold p.p.i even though she claimed on this near to the end of the last loan payments. She claimed on this when her farther took ill and she took time out to look after him.

My mum took a loan out with lloyds tsb, when she got back home and showed her partner he pointed out there were a p.p.i built into this.

She got intouch with main office who deals with loans for lloyds tsb and explained to them that they built in p.p.i on the loan without making it clear to her it were an option, she told them she feels like she has been misold p.p.i and were told to phone the branch back up and speak to manager.

She explained to the manager how she felt she had been missled with the p.p.i and wanted to cancel and asked to do this, this were all on the same day.

The manager had a word with the person who sold her the loan, she told him she had explained about the p.p,i, my mum disagreed then his exact words were "i'm piggy in the middle, what am I supposed to do" and then went on to say the loan was a non cancellation loan.

The loan were for £7600.00 which had a monthly repayment of £176.52 over 59 months (5 year period) total would have paid back = £10,414.68

The p.p.i brought this to £217.91 a month which brought the total payment paid back to £12,856.69

The extra paid for p.p.i were £2,442.01 and she managed to claim back £2,142.78

If a claim were possibe am I right to assume the amount possible to claim back would be the extra paid with p.p.i £2,442.01 - the ammount claimed back £2,142.78 = £299.23 ?

Any help be much appreciated, Thanks KD1

roonaldo

it can still be mis-sold, but any claims paid would be deducted off redress owed, living just a small amount in this case just like you said.

magpiecottage

It is not clear whether this was a single premium PPI where the premium was added to the loan, in which case an uphold is likely and the effects of interest would probably make the redress rather more, or a monthly premium one, in which case the claim would indicate eligibility and make an uphold far less likely, though not impossible.