PPI and Claimed Insurance

kish99

Hi,

I have a Personal Loan with Barclays and has a PPI. I am surprised to see that they added the amount onto the loan amount and I think they are charging interest on the total loan+PPI.
I am not aware of it until I saw the docs today.

Also as my financial situation not very good I am paying £1.00 towards the loan amount after seeking help from CAB.
And also I claimed the Insurance for 1 month as I was out of work for 1 month.

I am not sure If I can claim PPI.


Any help is much appreciated.

Regards
Kish99

amersall

If you have reasons for mis sell
http://www.moneysavingexpert.com/reclaim/ppi-loan-insurance#step2
then put a complaint in, if you win they will take the redress off the loan you are in arrears with, also the month you claimed will be taken off, you will get the 8% back to you though and this is taxable

timmybear

Hi Amersall,

How does a miss sold claim work if a policy has been claimed on? As in, if it paid out, then surely the policy was useable?

dunstonh

timmybear wrote: »

How does a miss sold claim work if a policy has been claimed on? As in, if it paid out, then surely the policy was useable?

It elimates any complaint on the basis that it wasnt needed and you were not eligible. People can still complain on other things though.

If a complaint is upheld the amount paid out is taken off the redress amount if they are successful.