Can i claim?

gormer

hi all,
love this site full of great advice. i had ppi on a loan a while back, this loan has since turned in to loan number 4 thanks to co op bank topping them up when times were hard. i had asked for an extension on my overdraft but they talked me in to loans instead. these loans had ppi which i thought i needed in case i lost my job. a couple of years later i was made redundant which was a real blow, i loved my job.
i called the bank to tell them my situation and asked about claiming on my ppi, they said i could, but my loan only had one more payment left so i decided to pay it of with my final settlement from work and closed the loan account. whilst on the phone to the bank the lady told me that the ppi would have only paid the monthly interest on the loan anyway and not my monthly repayments?? lucky i was at the end of my loan i thought.
when i took out ppi i thought that it covered my monthly repayments, surely this is mis-selling? do you think i have a claim?
Thanks for any advice

amersall

Put a claim in, you only need the account number and reasons for mis sell

http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step2

You are correct, the ppi should pay the whole loan payment including the ppi.
http://www.co-operativebank.co.uk/servlet/Satellite/1304665649735,CFSweb/Page/CFSCtplStandard?WT.svl=copy#q4jump