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Can I claim PPI/Compensation from Logbook Loans???

klbancroft
klbancroft Posts: 10 Forumite
in Reclaim PPI & other insurance
Hi All

Stupidly a few years ago I took out several logbook loans - I have cleared them all now:j (never again) but wondered if anyone knew of a way to claim back any compensation on the huge amount of interest I had to pay at the time....

One PPI company have told me they dont cover Logbook Loans so wondered if this was the case for everybody or if anyone has actually won a claim from them??

Thanks

Comments

  • [Deleted User]
    [Deleted User] Posts: 26,612 Forumite
    Eighth Anniversary 10,000 Posts Name Dropper Photogenic
    The interest on Logbook loans is not a mis-selling issue (nor is it insurance).
    You had the opportunity to refuse the loan at the outset, why would you now be able to reclaim interest?
  • McKneff
    McKneff Posts: 38,857 Forumite
    Part of the Furniture 10,000 Posts Name Dropper
    PPI does not cover log book loans.

    As for the interest, no you happily signed up to pay the going rate for interest.

    So you are on a hiding to nothing.
    make the most of it, we are only here for the weekend.
    and we will never, ever return.
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